Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.007%
Price spread now: Polymarket Perps against Backpack+0.461%7-day average +0.044% · you sell dearer than you buy
Net, funding: paid 7d − costs−$22as in the Funding arb table
Net, price: spread back to 7d avg − costs+$14as in the Price arb table
costs, in and out, $10k−$280.281% of the position
Funding, last 7 days+0.057%+$6 on $10k
+Price spread, last 4 days (all we have)−0.259%−$26 · spread now +0.461%, 7d avg +0.044%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Polymarket Perps is 0.418% dearer against Backpack than usual: you sell high and buy low, +$42 on $10k if it goes back to its 7-day average of +0.044%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack ZRO_USDC_PERP | 1.1707 | 0.0100 | pay 0.0013% / 1h | 44m 26s | $98K | $206K | 20x |
| Short | Polymarket Perps ZRO-USD | 1.1761 | 0.0100 | get 0.0013% / 1h | 44m 26s | $94K | $836K | 5x |
Backpack ZRO_USDC_PERP
Polymarket Perps ZRO-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Polymarket Perps 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: +0.461% → +0.044%
- $41.77
- Slippage, 4 orders
- −$10.05
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Net
- $13.72
- Costs to cover
- 0.281%
- Break-even
- from the start
Slippage from Backpack: live order book, 19 min ago; Polymarket Perps: live order book, 44 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, 19 min ago | 0.43 bp | 6.9 bp −$7 | doesn't fit | doesn't fit | doesn't fit |
| Sell Polymarket Perps live order book, 44 min ago | 0.43 bp | 9.4 bp −$9 | 19.6 bp −$196 | 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 | −0.0568% | 1h | 1.1739 | +0.275% | $7K | $3K | 5x | as long as short |
| Bybit ZROUSDT | −0.0075% | 4h | 1.1738 | +0.265% | $17.9M | $14.0M | 50x | as long as short |
| dYdX ZRO-USD | 0.0000% | 1h | 1.1785 | +0.670% | $21K | $3K | 5x | as long as short |
| Gate ZRO_USDT | +0.0022% | 4h | 1.1750 | +0.367% | $1.4M | $1.5M | 75x | as long as short |
| Orderly PERP_ZRO_USDC | +0.0035% | 4h | 1.1736 | +0.248% | $21K | $5K | 10x | as long as short |
| Lighter ZRO | +0.0096% | 1h | 1.1790 | +0.711% | $4.4M | $1.2M | 5x | as long as short |
| Hyperliquid ZRO | +0.0100% | 1h | 1.1761 | +0.461% | $37.2M | $5.4M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1776 | +0.592% | $159K | $150K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1773 | +0.562% | $137K | $170K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1742 | +0.303% | $22.0M | $29.8M | 75x | as long as short |
01 Exchange ZROUSD
Bybit ZROUSDT
dYdX ZRO-USD
Gate ZRO_USDT
Orderly PERP_ZRO_USDC
Lighter ZRO
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 | |
|---|---|---|---|---|---|---|---|---|
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1741 | +0.290% | $3.2M | $8.0M | 20x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1756 | +0.419% | $19.2M | $2.7M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1757 | +0.427% | $2.3M | $1.9M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1737 | +0.256% | $2.7M | $2.5M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1744 | +0.316% | — | $16.5M | — | as long as short |
| Backpack ZRO_USDC_PERPlong | +0.0100% | 1h | 1.1707 | long leg | $98K | $206K | 20x | |
| Variational Omni ZRO | +0.0100% | 4h | 1.1661 | −0.393% | $2.3M | $813K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1660 | −0.401% | $39K | $675K | 50x | as long as short |
| Polymarket Perps ZRO-USDshort | +0.0100% | 1h | 1.1761 | +0.461% | $94K | $836K | 5x | |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1691 | −0.134% | $21K | — | 3x | as long as short |
| BloFin ZRO-USDT | +0.0105% | 4h | 1.1694 | −0.111% | $1.1M | $248K | 75x | as long as short |
| Nado ZRO-PERP | +0.0182% | 1h | 1.1748 | +0.354% | $1.3M | $126K | 5x | as long as short |
| Kraken Futures PF_ZROUSD | +0.0198% | 1h | 1.1710 | +0.029% | $258K | $405K | 25x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0293% / S −0.2341% | 1h | 1.1746 | +0.332% | $3K | — | 100x | as long as short |
| Extended ZRO-USD | +0.0592% | 1h | 1.1758 | +0.436% | $789K | $591K | 10x | as long as short |
| Injective ZRO/USDC PERP | +0.1102% | 1h | 1.1720 | +0.111% | $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
Aevo ZRO-PERP
BloFin ZRO-USDT
Nado ZRO-PERP
Kraken Futures PF_ZROUSD
GMX ZRO/USD [ETH-USDC]
Extended ZRO-USD
Injective ZRO/USDC PERP