Funding you earn now, next payment 00:00 UTC−0.0260%/8h= −28.5% APRnext payment −$0.33 per $10,000 · paid last 24h −0.044%
Price spread now: 01 Exchange against Backpack−0.146%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
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
Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and 01 Exchange is 0.146% cheaper against Backpack than usual: you would sell low and buy high (−$15 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 | 1.1742 | 0.0100 | pay 0.0013% / 1h | 32m 38s | $100K | $207K | 20x |
| Short | 01 Exchange ZROUSD | 1.1725 | −0.0160 | pay 0.0020% / 1h | 32m 38s | $7K | $3K | 5x |
Backpack ZRO_USDC_PERP
01 Exchange ZROUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
01 Exchange 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
- −$54.6
- Price spread: −0.146% → 0.000%
- −$14.65
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee 01 Exchange: 3.5 bp × 2 orders
- −$7
- Net
- −$86.25
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Backpack: live order book, 45 min ago; 01 Exchange: 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 01 Exchange no order-book sample | — | — | — | — | — |
01 Exchange: 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 ZROUSDshort | −0.0160% | 1h | 1.1725 | −0.146% | $7K | $3K | 5x | |
| Orderly PERP_ZRO_USDC | 0.0000% | 4h | 1.1744 | +0.017% | $21K | $7K | 10x | as long as short |
| BloFin ZRO-USDT | +0.0076% | 4h | 1.1737 | −0.043% | $1.1M | $255K | 75x | as long as short |
| Lighter ZRO | +0.0096% | 1h | 1.1742 | +0.002% | $4.4M | $1.5M | 5x | as long as short |
| Hyperliquid ZRO | +0.0100% | 1h | 1.1731 | −0.094% | $37.2M | $6.2M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1743 | +0.005% | $157K | $153K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1735 | −0.060% | $136K | $177K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1729 | −0.111% | $22.0M | $31.3M | 75x | as long as short |
| Bybit ZROUSDT | +0.0100% | 4h | 1.1728 | −0.119% | $17.9M | $14.7M | 50x | as long as short |
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1729 | −0.111% | $3.2M | $8.3M | 20x | as long as short |
Orderly PERP_ZRO_USDC
BloFin ZRO-USDT
Lighter ZRO
Hyperliquid ZRO
Aster ZROUSDT
Pacifica ZRO
Binance ZROUSDT
Bybit ZROUSDT
OKX ZRO-USDT-SWAPShow 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 | −0.017% | $1.3M | $1.8M | 75x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1731 | −0.094% | $19.1M | $2.8M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1724 | −0.153% | $2.4M | $1.9M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1724 | −0.153% | $2.7M | $2.4M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1734 | −0.068% | — | $10.7M | — | as long as short |
| Backpack ZRO_USDC_PERPlong | +0.0100% | 1h | 1.1742 | long leg | $100K | $207K | 20x | |
| Variational Omni ZRO | +0.0100% | 4h | 1.1756 | +0.116% | $2.3M | $878K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1770 | +0.238% | $37K | $685K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1739 | −0.026% | $93K | $825K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1738 | −0.038% | $21K | — | 3x | as long as short |
| Kraken Futures PF_ZROUSD | +0.0133% | 1h | 1.1747 | +0.044% | $252K | $434K | 25x | as long as short |
| dYdX ZRO-USD | +0.0137% | 1h | 1.1738 | −0.030% | $21K | $2K | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0291% / S −0.2341% | 1h | 1.1743 | +0.005% | $3K | — | 100x | as long as short |
| Nado ZRO-PERP | +0.0365% | 1h | 1.1732 | −0.082% | $1.3M | $125K | 5x | as long as short |
| Injective ZRO/USDC PERP | +0.1159% | 1h | 1.1840 | +0.835% | $12K | $260K | 12x | as long as short |
| Extended ZRO-USD | +0.1992% | 1h | 1.1731 | −0.095% | $784K | $610K | 10x | as long as short |
Gate ZRO_USDT
MEXC ZRO_USDT
KuCoin ZROUSDTM
Bitget ZROUSDT
BingX ZRO-USDT
Variational Omni ZRO
ApeX Omni ZROUSDT
Polymarket Perps ZRO-USD
Aevo ZRO-PERP
Kraken Futures PF_ZROUSD
dYdX ZRO-USD
GMX ZRO/USD [ETH-USDC]
Nado ZRO-PERP
Injective ZRO/USDC PERP
Extended ZRO-USD