ZRO

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.2241%/8h= +245.4% APRnext payment +$2.80 per $10,000 · paid last 24h +1.073%

Price spread now: GMX against Backpack−0.097%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Backpack Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. GMX is 0.097% cheaper against Backpack than usual: you would sell low and buy high (spread −0.097% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$10 on $10k: about 3 hours of funding at the current rate (+$67 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack ZRO_USDC_PERP	1.1754	0.0100	pay 0.0013% / 1h	33m 19s	$100K	$207K	20x
Short	GMX ZRO/USD [ETH-USDC]	1.1743	L +0.0291% / S −0.2341%	get 0.0293% / 1h	33m 19s	$3K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Backpack. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BackpackbpFee GMXbpOrdersPrice spread, now −0.097%Rate

Funding earned: $470.65
Price spread: −0.097% → 0.000%: −$9.66
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $438.98
Costs to cover: 0.220%
Break-even: 0.5 days

Slippage unknown: Backpack: live order book, 45 min ago; GMX: no order-book sample. Net counts fees only.

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, 45 min ago	0.42 bp	8.4 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	1.1734	−0.168%	$7K	$3K	5x	as long as short
Orderly PERP_ZRO_USDC	0.0000%	4h	1.1744	−0.085%	$21K	$7K	10x	as long as short
BloFin ZRO-USDT	+0.0076%	4h	1.1737	−0.145%	$1.1M	$255K	75x	as long as short
Lighter ZRO	+0.0096%	1h	1.1746	−0.067%	$4.4M	$1.5M	5x	as long as short
Hyperliquid ZRO	+0.0100%	1h	1.1745	−0.077%	$37.2M	$6.2M	5x	as long as short
Aster ZROUSDT	+0.0100%	4h	1.1744	−0.087%	$157K	$153K	10x	as long as short
Pacifica ZRO	+0.0100%	1h	1.1745	−0.077%	$136K	$177K	5x	as long as short
Binance ZROUSDT	+0.0100%	4h	1.1738	−0.136%	$22.0M	$31.3M	75x	as long as short
Bybit ZROUSDT	+0.0100%	4h	1.1738	−0.136%	$17.9M	$14.7M	50x	as long as short
OKX ZRO-USDT-SWAP	+0.0100%	4h	1.1742	−0.102%	$3.2M	$8.3M	20x	as long as short

Show 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	−0.119%	$1.3M	$1.8M	75x	as long as short
MEXC ZRO_USDT	+0.0100%	4h	1.1736	−0.153%	$19.1M	$2.8M	125x	as long as short
KuCoin ZROUSDTM	+0.0100%	4h	1.1732	−0.187%	$2.4M	$1.9M	50x	as long as short
Bitget ZROUSDT	+0.0100%	4h	1.1734	−0.170%	$2.7M	$2.4M	75x	as long as short
BingX ZRO-USDT	+0.0100%	4h	1.1740	−0.119%	—	$10.7M	—	as long as short
Backpack ZRO_USDC_PERPlong	+0.0100%	1h	1.1754	long leg	$100K	$207K	20x
Variational Omni ZRO	+0.0100%	4h	1.1756	+0.014%	$2.3M	$878K	—	as long as short
ApeX Omni ZROUSDT	+0.0100%	1h	1.1770	+0.136%	$37K	$685K	50x	as long as short
Polymarket Perps ZRO-USD	+0.0100%	1h	1.1747	−0.060%	$94K	$825K	5x	as long as short
Aevo ZRO-PERP	+0.0104%	1h	1.1738	−0.140%	$21K	—	3x	as long as short
Kraken Futures PF_ZROUSD	+0.0133%	1h	1.1747	−0.058%	$252K	$434K	25x	as long as short
dYdX ZRO-USD	+0.0143%	1h	1.1748	−0.051%	$21K	$2K	5x	as long as short
GMX ZRO/USD [ETH-USDC]short	L +0.0291% / S −0.2341%	1h	1.1743	−0.097%	$3K	—	100x
Nado ZRO-PERP	+0.0369%	1h	1.1741	−0.114%	$1.3M	$125K	5x	as long as short
Injective ZRO/USDC PERP	+0.1159%	1h	1.1840	+0.732%	$12K	$260K	12x	as long as short
Extended ZRO-USD	+0.1984%	1h	1.1737	−0.144%	$784K	$610K	10x	as long as short