Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.022%
Price spread now: Backpack against ApeX Omni−0.272%84s7-day average −0.005% · you buy dearer than you sell
Net, funding: paid 7d − costs−$82as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$620.622% of the position
Funding, last 7 days−0.198%−$20 on $10k
+Price spread, last 3 days (all we have)+0.264%+$26 · spread now −0.272%, 7d avg −0.005%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.267% cheaper against ApeX Omni than usual: you would sell low and buy high, −$27 on $10k if it goes back to its 7-day average of −0.005%. The two prices were read 84 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | ApeX Omni ZROUSDT | 1.1770 | 0.0100 | pay 0.0013% / 1h | 31m 42s | $37K | $685K | 50x |
| Short | Backpack ZRO_USDC_PERP | 1.1738 | 0.0100 | get 0.0013% / 1h | 31m 42s | $100K | $207K | 20x |
ApeX Omni ZROUSDT
Backpack ZRO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against ApeX Omni. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $0
- Price spread: −0.272% → −0.005%
- −$26.7
- Slippage, 4 orders
- −$42.23
- Fee ApeX Omni: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$88.93
- Costs to cover
- 0.622%
- Break-even
- never at this rate
Slippage from ApeX Omni: live order book, 47 min ago; Backpack: live order book, 46 min ago.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy ApeX Omni live order book, 47 min ago | 12.71 bp | 23.9 bp −$24 | 133.6 bp −$1,336 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 46 min ago | 0.42 bp | 6.1 bp −$6 | doesn't fit | doesn't fit | doesn't fit |
ZRO on 26 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| 01 Exchange ZROUSD | −0.0160% | 1h | 1.1725 | −0.384% | $7K | $3K | 5x | as long as short |
| Orderly PERP_ZRO_USDC | +0.0001% | 4h | 1.1732 | −0.323% | $21K | $7K | 10x | as long as short |
| BloFin ZRO-USDT | +0.0076% | 4h | 1.1737 | −0.280% | $1.1M | $255K | 75x | as long as short |
| Lighter ZRO | +0.0096% | 1h | 1.1748 | −0.187% | $4.4M | $1.5M | 5x | as long as short |
| Hyperliquid ZRO | +0.0100% | 1h | 1.1732 | −0.323% | $37.2M | $6.2M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1741 | −0.248% | $157K | $153K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1735 | −0.294% | $136K | $177K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1737 | −0.280% | $22.0M | $31.3M | 75x | as long as short |
| Bybit ZROUSDT | +0.0100% | 4h | 1.1733 | −0.314% | $17.9M | $14.7M | 50x | as long as short |
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1738 | −0.272% | $3.2M | $8.3M | 20x | as long as short |
01 Exchange ZROUSD
Orderly PERP_ZRO_USDC
BloFin ZRO-USDT
Lighter ZRO
Hyperliquid ZRO
Aster ZROUSDT
Pacifica ZRO
Binance ZROUSDT
Bybit ZROUSDT
OKX ZRO-USDT-SWAPShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate ZRO_USDT | +0.0100% | 4h | 1.1740 | −0.255% | $1.3M | $1.8M | 75x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1734 | −0.306% | $19.1M | $2.8M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1724 | −0.391% | $2.4M | $1.9M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1728 | −0.357% | $2.7M | $2.4M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1733 | −0.314% | — | $10.7M | — | as long as short |
| Backpack ZRO_USDC_PERPshort | +0.0100% | 1h | 1.1738 | −0.272% | $100K | $207K | 20x | |
| Variational Omni ZRO | +0.0100% | 4h | 1.1756 | −0.122% | $2.3M | $878K | — | as long as short |
| ApeX Omni ZROUSDTlong | +0.0100% | 1h | 1.1770 | long leg | $37K | $685K | 50x | |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1739 | −0.263% | $93K | $825K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1730 | −0.338% | $21K | — | 3x | as long as short |
| dYdX ZRO-USD | +0.0132% | 1h | 1.1738 | −0.268% | $21K | $2K | 5x | as long as short |
| Kraken Futures PF_ZROUSD | +0.0133% | 1h | 1.1744 | −0.221% | $252K | $434K | 25x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0291% / S −0.2341% | 1h | 1.1734 | −0.307% | $3K | — | 100x | as long as short |
| Nado ZRO-PERP | +0.0365% | 1h | 1.1732 | −0.319% | $1.3M | $125K | 5x | as long as short |
| Injective ZRO/USDC PERP | +0.1159% | 1h | 1.1840 | +0.595% | $12K | $260K | 12x | as long as short |
| Extended ZRO-USD | +0.1992% | 1h | 1.1737 | −0.284% | $784K | $610K | 10x | as long as short |
Gate ZRO_USDT
MEXC ZRO_USDT
KuCoin ZROUSDTM
Bitget ZROUSDT
BingX ZRO-USDT
Variational Omni ZRO
Polymarket Perps ZRO-USD
Aevo ZRO-PERP
dYdX ZRO-USD
Kraken Futures PF_ZROUSD
GMX ZRO/USD [ETH-USDC]
Nado ZRO-PERP
Injective ZRO/USDC PERP
Extended ZRO-USD