Funding you earn now, next payment 01:00 UTC−0.0182%/8h= −19.9% APRnext payment −$0.23 per $10,000 · paid last 24h +0.017%
Price spread now: ApeX Omni against Backpack−0.246%7-day average +0.003% · you buy dearer than you sell
Net, funding: paid 7d − costs−$40as in the Funding arb table
Net, price: spread back to 7d avg − costs−$84as in the Price arb table
costs, in and out, $10k−$600.595% of the position
Funding, last 7 days+0.192%+$19 on $10k
+Price spread, last 3 days (all we have)+0.229%+$23 · spread now −0.246%, 7d avg +0.003%
=Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and ApeX Omni is 0.249% cheaper against Backpack than usual: you would sell low and buy high (−$25 if the spread goes back to its 7-day average of +0.003%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.192%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack ZRO_USDC_PERP | 1.1769 | 0.0282 | pay 0.0035% / 1h | 41m 14s | $99K | $206K | 20x |
| Short | ApeX Omni ZROUSDT | 1.1740 | 0.0100 | get 0.0013% / 1h | 41m 14s | $37K | $688K | 50x |
Backpack ZRO_USDC_PERP
ApeX Omni ZROUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
ApeX Omni against Backpack. 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
- −$38.19
- Price spread: −0.246% → +0.003%
- −$24.92
- Slippage, 4 orders
- −$39.52
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee ApeX Omni: 5 bp × 2 orders
- −$10
- Net
- −$122.63
- Costs to cover
- 0.595%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 32 min ago; ApeX Omni: live order book, 32 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 Backpack live order book, 32 min ago | 0.43 bp | 6.8 bp −$7 | doesn't fit | doesn't fit | doesn't fit |
| Sell ApeX Omni live order book, 32 min ago | 12.78 bp | 21.7 bp −$22 | 119.4 bp −$1,194 | 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 | −0.0136% | 1h | 1.1746 | −0.194% | $7K | $3K | 5x | as long as short |
| Gate ZRO_USDT | +0.0012% | 4h | 1.1750 | −0.161% | $1.3M | $1.5M | 75x | as long as short |
| Orderly PERP_ZRO_USDC | +0.0012% | 4h | 1.1753 | −0.136% | $21K | $6K | 10x | as long as short |
| Lighter ZRO | +0.0096% | 1h | 1.1757 | −0.102% | $4.4M | $1.5M | 5x | as long as short |
| Hyperliquid ZRO | +0.0100% | 1h | 1.1752 | −0.147% | $37.2M | $5.9M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1763 | −0.050% | $157K | $149K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1755 | −0.115% | $136K | $171K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1747 | −0.185% | $22.1M | $30.4M | 75x | as long as short |
| Bybit ZROUSDT | +0.0100% | 4h | 1.1746 | −0.195% | $18.0M | $14.2M | 50x | as long as short |
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1752 | −0.144% | $3.2M | $8.0M | 20x | as long as short |
01 Exchange ZROUSD
Gate ZRO_USDT
Orderly PERP_ZRO_USDC
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 | |
|---|---|---|---|---|---|---|---|---|
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1747 | −0.187% | $19.1M | $2.7M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1747 | −0.187% | $2.4M | $1.9M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1741 | −0.238% | $2.7M | $2.4M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1751 | −0.153% | — | $14.7M | — | as long as short |
| Variational Omni ZRO | +0.0100% | 4h | 1.1752 | −0.147% | $2.3M | $869K | — | as long as short |
| ApeX Omni ZROUSDTshort | +0.0100% | 1h | 1.1740 | −0.246% | $37K | $688K | 50x | |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1751 | −0.153% | $91K | $830K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1750 | −0.165% | $21K | — | 3x | as long as short |
| BloFin ZRO-USDT | +0.0108% | 4h | 1.1744 | −0.212% | $1.1M | $256K | 75x | as long as short |
| dYdX ZRO-USD | +0.0182% | 1h | 1.1754 | −0.126% | $21K | $3K | 5x | as long as short |
| Nado ZRO-PERP | +0.0250% | 1h | 1.1746 | −0.194% | $1.3M | $129K | 5x | as long as short |
| Backpack ZRO_USDC_PERPlong | +0.0282% | 1h | 1.1769 | long leg | $99K | $206K | 20x | |
| GMX ZRO/USD [ETH-USDC] | L +0.0291% / S −0.2341% | 1h | 1.1749 | −0.173% | $3K | — | 100x | as long as short |
| Kraken Futures PF_ZROUSD | +0.0302% | 1h | 1.1758 | −0.097% | $252K | $411K | 25x | as long as short |
| Injective ZRO/USDC PERP | +0.1190% | 1h | 1.1780 | +0.093% | $12K | $260K | 12x | as long as short |
| Extended ZRO-USD | +0.1352% | 1h | 1.1743 | −0.224% | $780K | $589K | 10x | as long as short |
MEXC ZRO_USDT
KuCoin ZROUSDTM
Bitget ZROUSDT
BingX ZRO-USDT
Variational Omni ZRO
Polymarket Perps ZRO-USD
Aevo ZRO-PERP
BloFin ZRO-USDT
dYdX ZRO-USD
Nado ZRO-PERP
GMX ZRO/USD [ETH-USDC]
Kraken Futures PF_ZROUSD
Injective ZRO/USDC PERP
Extended ZRO-USD