Funding you earn now, next payment 02:00 UTC−0.0093%/8h= −10.1% APRpaid last 24h −0.021%
Price spread now: Orderly against Backpack−0.060%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 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
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Orderly is 0.060% cheaper against Backpack than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack ZRO_USDC_PERP | 1.1659 | 0.0100 | pay 0.0013% / 1h | 55m 38s | $99K | $211K | 20x |
| Short | Orderly PERP_ZRO_USDC | 1.1652 | 0.0007 | get 0.0004% / 4h | 2h 55m | $20K | $6K | 10x |
Backpack ZRO_USDC_PERP
Orderly PERP_ZRO_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- −$19.44
- Price spread: −0.060% → 0.000%
- −$6
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$41.44
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Backpack: live order book, 13 min ago; Orderly: 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, 13 min ago | 0.42 bp | 7.2 bp −$7 | doesn't fit | doesn't fit | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: 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 | −0.0240% | 1h | 1.1643 | −0.138% | $7K | $3K | 5x | as long as short |
| dYdX ZRO-USD | 0.0000% | 1h | 1.1658 | −0.007% | $21K | $3K | 5x | as long as short |
| Orderly PERP_ZRO_USDCshort | +0.0007% | 4h | 1.1652 | −0.060% | $20K | $6K | 10x | |
| ApeX Omni ZROUSDT | +0.0074% | 1h | 1.1730 | +0.609% | $37K | $685K | 50x | as long as short |
| Lighter ZRO | +0.0096% | 1h | 1.1680 | +0.182% | $4.4M | $1.2M | 5x | as long as short |
| Hyperliquid ZRO | +0.0100% | 1h | 1.1680 | +0.180% | $37.0M | $5.6M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1665 | +0.053% | $156K | $148K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1669 | +0.086% | $135K | $169K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1658 | −0.009% | $21.9M | $30.0M | 75x | as long as short |
| Bybit ZROUSDT | +0.0100% | 4h | 1.1639 | −0.172% | $17.8M | $14.1M | 50x | as long as short |
01 Exchange ZROUSD
dYdX ZRO-USD
ApeX Omni ZROUSDT
Lighter ZRO
Hyperliquid ZRO
Aster ZROUSDT
Pacifica ZRO
Binance ZROUSDT
Bybit 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 | 1.1656 | −0.026% | $3.2M | $7.9M | 20x | as long as short |
| Gate ZRO_USDT | +0.0100% | 4h | 1.1650 | −0.077% | $1.3M | $1.5M | 75x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1654 | −0.043% | $18.9M | $2.7M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1663 | +0.034% | $2.3M | $2.0M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1661 | +0.017% | $2.7M | $2.5M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1656 | −0.026% | — | $16.5M | — | as long as short |
| Backpack ZRO_USDC_PERPlong | +0.0100% | 1h | 1.1659 | long leg | $99K | $211K | 20x | |
| Variational Omni ZRO | +0.0100% | 4h | 1.1637 | −0.191% | $2.3M | $842K | — | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1664 | +0.043% | $91K | $843K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1650 | −0.077% | $21K | — | 3x | as long as short |
| BloFin ZRO-USDT | +0.0113% | 4h | 1.1709 | +0.429% | $1.1M | $252K | 75x | as long as short |
| Nado ZRO-PERP | +0.0266% | 1h | 1.1648 | −0.093% | $1.3M | $126K | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0292% / S −0.2341% | 1h | 1.1658 | −0.009% | $3K | — | 100x | as long as short |
| Kraken Futures PF_ZROUSD | +0.0373% | 1h | 1.1666 | +0.063% | $250K | $407K | 25x | as long as short |
| Extended ZRO-USD | +0.1080% | 1h | 1.1657 | −0.019% | $780K | $593K | 10x | as long as short |
| Injective ZRO/USDC PERP | +0.1213% | 1h | 1.1770 | +0.952% | $12K | $260K | 12x | as long as short |
OKX ZRO-USDT-SWAP
Gate ZRO_USDT
MEXC ZRO_USDT
KuCoin ZROUSDTM
Bitget ZROUSDT
BingX ZRO-USDT
Variational Omni ZRO
Polymarket Perps ZRO-USD
Aevo ZRO-PERP
BloFin ZRO-USDT
Nado ZRO-PERP
GMX ZRO/USD [ETH-USDC]
Kraken Futures PF_ZROUSD
Extended ZRO-USD
Injective ZRO/USDC PERP