Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.007%
Price spread now: Bybit against Backpack−0.026%7-day average −0.060% · you buy dearer than you sell
Net, funding: paid 7d − costs−$32as in the Funding arb table
Net, price: spread back to 7d avg − costs−$45as in the Price arb table
costs, in and out, $10k−$490.486% of the position
Funding, last 7 days+0.166%+$17 on $10k
+Price spread, last 4 days (all we have)+0.178%+$18 · spread now −0.026%, 7d avg −0.060%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.034% dearer against Backpack than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.060%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack ZRO_USDC_PERP | 1.1745 | 0.0100 | pay 0.0013% / 1h | 21m 08s | $97K | $195K | 20x |
| Short | Bybit ZROUSDT | 1.1742 | 0.0100 | get 0.0050% / 4h | 1h 21m | $17.9M | $14.0M | 50x |
Backpack ZRO_USDC_PERP
Bybit ZROUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- $0
- Price spread: −0.026% → −0.060%
- $3.41
- Slippage, 4 orders
- −$27.6
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$45.2
- Costs to cover
- 0.486%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 42 min ago; Bybit: live order book, 2 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, 42 min ago | 0.43 bp | 6.9 bp −$7 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 2 min ago | 2.13 bp | 18.4 bp −$18 | 51.2 bp −$512 | 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 | −0.0344% | 1h | 1.1757 | +0.100% | $7K | $3K | 5x | as long as short |
| dYdX ZRO-USD | +0.0026% | 1h | 1.1742 | −0.029% | $21K | $3K | 5x | as long as short |
| Orderly PERP_ZRO_USDC | +0.0036% | 4h | 1.1740 | −0.043% | $21K | $5K | 10x | as long as short |
| Gate ZRO_USDT | +0.0074% | 4h | 1.1730 | −0.128% | $1.3M | $1.5M | 75x | as long as short |
| BloFin ZRO-USDT | +0.0082% | 4h | 1.1739 | −0.051% | $1.1M | $250K | 75x | as long as short |
| Lighter ZRO | +0.0096% | 1h | 1.1758 | +0.112% | $4.4M | $1.2M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1749 | +0.037% | $158K | $150K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1743 | −0.020% | $136K | $176K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1742 | −0.025% | $22.0M | $29.8M | 75x | as long as short |
| Bybit ZROUSDTshort | +0.0100% | 4h | 1.1742 | −0.026% | $17.9M | $14.0M | 50x |
01 Exchange ZROUSD
dYdX ZRO-USD
Orderly PERP_ZRO_USDC
Gate ZRO_USDT
BloFin ZRO-USDT
Lighter ZRO
Aster ZROUSDT
Pacifica ZRO
Binance ZROUSDTShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1743 | −0.017% | $3.2M | $8.0M | 20x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1740 | −0.043% | $19.1M | $2.7M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1742 | −0.026% | $2.4M | $2.0M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1742 | −0.026% | $2.7M | $2.5M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1741 | −0.034% | — | $16.5M | — | as long as short |
| Backpack ZRO_USDC_PERPlong | +0.0100% | 1h | 1.1745 | long leg | $97K | $195K | 20x | |
| Variational Omni ZRO | +0.0100% | 4h | 1.1667 | −0.667% | $2.3M | $810K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1720 | −0.213% | $39K | $672K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1757 | +0.102% | $99K | $846K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1736 | −0.078% | $21K | — | 3x | as long as short |
| Hyperliquid ZRO | +0.0141% | 1h | 1.1762 | +0.145% | $37.2M | $5.5M | 5x | as long as short |
| Kraken Futures PF_ZROUSD | +0.0197% | 1h | 1.1751 | +0.048% | $258K | $407K | 25x | as long as short |
| Nado ZRO-PERP | +0.0208% | 1h | 1.1747 | +0.020% | $1.3M | $124K | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0292% / S −0.2341% | 1h | 1.1735 | −0.082% | $3K | — | 100x | as long as short |
| Extended ZRO-USD | +0.0680% | 1h | 1.1739 | −0.047% | $784K | $591K | 10x | as long as short |
| Injective ZRO/USDC PERP | +0.1102% | 1h | 1.1790 | +0.383% | $12K | $260K | 12x | as long as short |
OKX ZRO-USDT-SWAP
MEXC ZRO_USDT
KuCoin ZROUSDTM
Bitget ZROUSDT
BingX ZRO-USDT
Variational Omni ZRO
ApeX Omni ZROUSDT
Polymarket Perps ZRO-USD
Aevo ZRO-PERP
Hyperliquid ZRO
Kraken Futures PF_ZROUSD
Nado ZRO-PERP
GMX ZRO/USD [ETH-USDC]
Extended ZRO-USD
Injective ZRO/USDC PERP