Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.028%
Price spread now: MEXC against Backpack−0.094%7-day average −0.009% · you buy dearer than you sell
Net, funding: paid 7d − costs−$8as in the Funding arb table
Net, price: spread back to 7d avg − costs−$34as in the Price arb table
costs, in and out, $10k−$260.256% of the position
Funding, last 7 days+0.177%+$18 on $10k
+Price spread, last 4 days (all we have)+0.156%+$16 · spread now −0.094%, 7d avg −0.009%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: MEXC is 0.084% cheaper against Backpack than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.009%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack ZRO_USDC_PERP | 1.1747 | 0.0100 | pay 0.0013% / 1h | 51m 24s | $92K | $209K | 20x |
| Short | MEXC ZRO_USDT | 1.1736 | 0.0100 | get 0.0050% / 4h | 2h 51m | $18.9M | $3.5M | 125x |
Backpack ZRO_USDC_PERP
MEXC ZRO_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC 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: −0.094% → −0.009%
- −$8.43
- Slippage, 4 orders
- −$15.63
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee MEXC: 0 bp × 2 orders
- $0
- Net
- −$34.06
- Costs to cover
- 0.256%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 36 min ago; MEXC: 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, 36 min ago | 0.42 bp | 7.3 bp −$7 | doesn't fit | doesn't fit | doesn't fit |
| Sell MEXC live order book, 2 min ago | 0.43 bp | 6.3 bp −$6 | 41.8 bp −$418 | 85.0 bp −$8,497 | 432.2 bp −$216.1K |
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 | −0.0168% | 1h | 1.1711 | −0.304% | $7K | $3K | 5x | as long as short |
| Bybit ZROUSDT | −0.0067% | 4h | 1.1717 | −0.255% | $18.0M | $16.3M | 50x | as long as short |
| Orderly PERP_ZRO_USDC | −0.0038% | 4h | 1.1748 | +0.009% | $21K | $7K | 10x | as long as short |
| OKX ZRO-USDT-SWAP | −0.0010% | 4h | 1.1736 | −0.094% | $3.2M | $9.2M | 20x | as long as short |
| dYdX ZRO-USD | 0.0000% | 1h | 1.1749 | +0.015% | $21K | $2K | 5x | as long as short |
| BloFin ZRO-USDT | +0.0061% | 4h | 1.1750 | +0.026% | $1.1M | $265K | 75x | as long as short |
| Hyperliquid ZRO | +0.0100% | 1h | 1.1754 | +0.060% | $37.3M | $7.1M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1752 | +0.043% | $157K | $163K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1735 | −0.102% | $143K | $201K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1728 | −0.162% | $22.2M | $34.4M | 75x | as long as short |
01 Exchange ZROUSD
Bybit ZROUSDT
Orderly PERP_ZRO_USDC
OKX ZRO-USDT-SWAP
dYdX ZRO-USD
BloFin ZRO-USDT
Hyperliquid ZRO
Aster ZROUSDT
Pacifica ZRO
Binance ZROUSDTShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate ZRO_USDT | +0.0100% | 4h | 1.1720 | −0.230% | $1.3M | $2.0M | 75x | as long as short |
| MEXC ZRO_USDTshort | +0.0100% | 4h | 1.1736 | −0.094% | $18.9M | $3.5M | 125x | |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1739 | −0.068% | $2.6M | $1.5M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1729 | −0.153% | $2.7M | $2.5M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1735 | −0.102% | — | $10.9M | — | as long as short |
| Backpack ZRO_USDC_PERPlong | +0.0100% | 1h | 1.1747 | long leg | $92K | $209K | 20x | |
| Variational Omni ZRO | +0.0100% | 4h | 1.1766 | +0.161% | $2.2M | $893K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1770 | +0.196% | $37K | $680K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1743 | −0.034% | $86K | $1.0M | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1768 | +0.180% | $21K | — | 3x | as long as short |
| Lighter ZRO | +0.0144% | 1h | 1.1750 | +0.023% | $4.6M | $1.2M | 5x | as long as short |
| Nado ZRO-PERP | +0.0251% | 1h | 1.1727 | −0.172% | $1.3M | $131K | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0291% / S −0.2341% | 1h | 1.1751 | +0.030% | $3K | — | 100x | as long as short |
| Kraken Futures PF_ZROUSD | +0.0319% | 1h | 1.1756 | +0.076% | $249K | $574K | 25x | as long as short |
| Extended ZRO-USD | +0.0592% | 1h | 1.1725 | −0.187% | $780K | $560K | 10x | as long as short |
| Injective ZRO/USDC PERP | +0.1237% | 1h | 1.1830 | +0.707% | $12K | $145K | 12x | as long as short |
Gate ZRO_USDT
KuCoin ZROUSDTM
Bitget ZROUSDT
BingX ZRO-USDT
Variational Omni ZRO
ApeX Omni ZROUSDT
Polymarket Perps ZRO-USD
Aevo ZRO-PERP
Lighter ZRO
Nado ZRO-PERP
GMX ZRO/USD [ETH-USDC]
Kraken Futures PF_ZROUSD
Extended ZRO-USD
Injective ZRO/USDC PERP