Funding you earn now, next payment 01:00 UTC+0.0146%/8h= +16.0% APRpaid last 24h −0.017%
Price spread now: Backpack against Binance+0.067%7-day average +0.016% · you sell dearer than you buy
Net, funding: paid 7d − costs−$59as in the Funding arb table
Net, price: spread back to 7d avg − costs−$37as in the Price arb table
costs, in and out, $10k−$420.421% of the position
Funding, last 7 days−0.164%−$16 on $10k
+Price spread, last 4 days (all we have)−0.109%−$11 · spread now +0.067%, 7d avg +0.016%
=Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Backpack is 0.052% dearer against Binance than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.016%. Mind the row above: over the last 7 days funding on this pair cost −0.164%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance ZROUSDT | 1.1747 | 0.0100 | pay 0.0050% / 4h | 3h 46m | $22.1M | $30.5M | 75x |
| Short | Backpack ZRO_USDC_PERP | 1.1755 | 0.0246 | get 0.0031% / 1h | 46m 43s | $99K | $206K | 20x |
Binance ZROUSDT
Backpack ZRO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Binance. 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
- $30.59
- Price spread: +0.067% → +0.016%
- $5.16
- Slippage, 4 orders
- −$22.13
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$6.37
- Costs to cover
- 0.421%
- Break-even
- 8.5 days
Slippage from Binance: live order book, 10 min ago; Backpack: live order book, 26 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 Binance live order book, 10 min ago | 0.42 bp | 12.6 bp −$13 | 31.3 bp −$313 | 296.3 bp −$29.6K | doesn't fit |
| Sell Backpack live order book, 26 min ago | 0.43 bp | 6.4 bp −$6 | doesn't fit | 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 | −0.0160% | 1h | 1.1747 | −0.002% | $7K | $3K | 5x | as long as short |
| Gate ZRO_USDT | −0.0066% | 4h | 1.1740 | −0.060% | $1.3M | $1.5M | 75x | as long as short |
| Orderly PERP_ZRO_USDC | +0.0012% | 4h | 1.1751 | +0.033% | $21K | $7K | 10x | as long as short |
| dYdX ZRO-USD | +0.0054% | 1h | 1.1750 | +0.022% | $21K | $3K | 5x | as long as short |
| ApeX Omni ZROUSDT | +0.0076% | 1h | 1.1730 | −0.145% | $37K | $689K | 50x | as long as short |
| Lighter ZRO | +0.0096% | 1h | 1.1755 | +0.071% | $4.4M | $1.5M | 5x | as long as short |
| Hyperliquid ZRO | +0.0100% | 1h | 1.1751 | +0.033% | $37.2M | $5.9M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1758 | +0.091% | $157K | $149K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1746 | −0.005% | $136K | $171K | 5x | as long as short |
| Binance ZROUSDTlong | +0.0100% | 4h | 1.1747 | long leg | $22.1M | $30.5M | 75x |
01 Exchange ZROUSD
Gate ZRO_USDT
Orderly PERP_ZRO_USDC
dYdX ZRO-USD
ApeX Omni ZROUSDT
Lighter ZRO
Hyperliquid ZRO
Aster ZROUSDT
Pacifica ZROShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit ZROUSDT | +0.0100% | 4h | 1.1739 | −0.069% | $17.9M | $14.2M | 50x | as long as short |
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1747 | −0.001% | $3.2M | $8.1M | 20x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1748 | +0.008% | $19.1M | $2.7M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1739 | −0.069% | $2.4M | $1.9M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1739 | −0.069% | $2.7M | $2.4M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1746 | −0.009% | — | $14.7M | — | as long as short |
| Variational Omni ZRO | +0.0100% | 4h | 1.1734 | −0.114% | $2.3M | $874K | — | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1752 | +0.042% | $91K | $830K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1746 | −0.007% | $21K | — | 3x | as long as short |
| BloFin ZRO-USDT | +0.0152% | 4h | 1.1746 | −0.009% | $1.1M | $256K | 75x | as long as short |
| Nado ZRO-PERP | +0.0241% | 1h | 1.1748 | +0.006% | $1.3M | $129K | 5x | as long as short |
| Backpack ZRO_USDC_PERPshort | +0.0246% | 1h | 1.1755 | +0.067% | $99K | $206K | 20x | |
| GMX ZRO/USD [ETH-USDC] | L +0.0291% / S −0.2341% | 1h | 1.1749 | +0.013% | $3K | — | 100x | as long as short |
| Kraken Futures PF_ZROUSD | +0.0302% | 1h | 1.1757 | +0.081% | $252K | $412K | 25x | as long as short |
| Injective ZRO/USDC PERP | +0.1190% | 1h | 1.1790 | +0.365% | $12K | $260K | 12x | as long as short |
| Extended ZRO-USD | +0.1472% | 1h | 1.1743 | −0.033% | $780K | $589K | 10x | as long as short |
Bybit ZROUSDT
OKX ZRO-USDT-SWAP
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
Injective ZRO/USDC PERP
Extended ZRO-USD