Funding you earn now, next payment 00:00 UTC+0.1868%/8h= +204.5% APRnext payment +$2.33 per $10,000 · paid last 24h +0.104%
Price spread now: Extended against Backpack+0.016%48s7-day average −0.042% · you sell dearer than you buy
Net, funding: paid 7d − costs−$1,006as 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−$1,03510.350% of the position
Funding, last 7 days+0.287%+$29 on $10k
+Price spread, last 4 days (all we have)+0.077%+$8 · spread now +0.016%, 7d avg −0.042%
=Together, before fees+0.365%+ Points / potential airdropExtended: Active · farm board+$36 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$56 a day on $10k at the current rate, and Extended is 0.057% dearer against Backpack than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.042%. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.287% in total (about 15.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.33 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack ZRO_USDC_PERP | 1.1771 | 0.0100 | pay 0.0013% / 1h | 35m 15s | $100K | $207K | 20x |
| Short | Extended ZRO-USD | 1.1773 | 0.1968 | get 0.0246% / 1h | 35m 15s | $784K | $610K | 10x |
Backpack ZRO_USDC_PERP
Extended ZRO-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Extended 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
- $392.28
- Price spread: +0.016% → −0.042%
- $5.72
- Slippage, 4 orders
- −$1,020.01
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Net
- −$637.02
- Costs to cover
- 10.350%
- Break-even
- 18.4 days
Slippage from Backpack: live order book, 43 min ago; Extended: live order book, 43 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, 43 min ago | 0.42 bp | 8.4 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
| Sell Extended live order book, 43 min ago | 13.07 bp | 27.8 bp −$28 | 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 | 1.1762 | −0.075% | $7K | $3K | 5x | as long as short |
| Orderly PERP_ZRO_USDC | 0.0000% | 4h | 1.1776 | +0.042% | $21K | $7K | 10x | as long as short |
| Lighter ZRO | +0.0096% | 1h | 1.1780 | +0.072% | $4.4M | $1.5M | 5x | as long as short |
| Hyperliquid ZRO | +0.0100% | 1h | 1.1778 | +0.059% | $37.4M | $6.2M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1778 | +0.060% | $157K | $153K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1768 | −0.029% | $136K | $177K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1778 | +0.059% | $22.1M | $31.2M | 75x | as long as short |
| Bybit ZROUSDT | +0.0100% | 4h | 1.1768 | −0.025% | $18.0M | $14.7M | 50x | as long as short |
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1780 | +0.076% | $3.2M | $8.3M | 20x | as long as short |
| Gate ZRO_USDT | +0.0100% | 4h | 1.1760 | −0.093% | $1.3M | $1.8M | 75x | as long as short |
01 Exchange ZROUSD
Orderly PERP_ZRO_USDC
Lighter ZRO
Hyperliquid ZRO
Aster ZROUSDT
Pacifica ZRO
Binance ZROUSDT
Bybit ZROUSDT
OKX ZRO-USDT-SWAP
Gate ZRO_USDTShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1775 | +0.034% | $19.1M | $2.8M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1759 | −0.102% | $2.4M | $1.9M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1766 | −0.042% | $2.7M | $2.4M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1762 | −0.076% | — | $10.7M | — | as long as short |
| Backpack ZRO_USDC_PERPlong | +0.0100% | 1h | 1.1771 | long leg | $100K | $207K | 20x | |
| Variational Omni ZRO | +0.0100% | 4h | 1.1756 | −0.130% | $2.3M | $878K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1780 | +0.076% | $37K | $687K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1774 | +0.025% | $94K | $824K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1775 | +0.034% | $21K | — | 3x | as long as short |
| dYdX ZRO-USD | +0.0131% | 1h | 1.1767 | −0.033% | $21K | $2K | 5x | as long as short |
| Kraken Futures PF_ZROUSD | +0.0132% | 1h | 1.1791 | +0.168% | $253K | $434K | 25x | as long as short |
| BloFin ZRO-USDT | +0.0144% | 4h | 1.1759 | −0.102% | $1.1M | $256K | 75x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0291% / S −0.2341% | 1h | 1.1770 | −0.013% | $3K | — | 100x | as long as short |
| Nado ZRO-PERP | +0.0371% | 1h | 1.1766 | −0.043% | $1.3M | $125K | 5x | as long as short |
| Injective ZRO/USDC PERP | +0.1159% | 1h | 1.1840 | +0.586% | $12K | $260K | 12x | as long as short |
| Extended ZRO-USDshort | +0.1968% | 1h | 1.1773 | +0.016% | $784K | $610K | 10x |
MEXC ZRO_USDT
KuCoin ZROUSDTM
Bitget ZROUSDT
BingX ZRO-USDT
Variational Omni ZRO
ApeX Omni ZROUSDT
Polymarket Perps ZRO-USD
Aevo ZRO-PERP
dYdX ZRO-USD
Kraken Futures PF_ZROUSD
BloFin ZRO-USDT
GMX ZRO/USD [ETH-USDC]
Nado ZRO-PERP
Injective ZRO/USDC PERP