Funding you earn now, next payment 00:00 UTC−0.0125%/8h= −13.7% APRnext payment −$0.62 per $10,000 · paid last 24h 0.000%
Price spread now: Bybit against Binance−0.076%7-day average −0.020% · you buy dearer than you sell
Net, funding: paid 7d − costs−$56as in the Funding arb table
Net, price: spread back to 7d avg − costs−$63as in the Price arb table
costs, in and out, $10k−$570.574% of the position
Funding, last 7 days+0.015%+$1 on $10k
+Price spread, last 7 days+0.068%+$7 · spread now −0.076%, 7d avg −0.020%
=Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Bybit is 0.056% cheaper against Binance than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.020%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance ZROUSDT | 1.1774 | 0.0100 | pay 0.0050% / 4h | 2h 57m | $22.3M | $34.8M | 75x |
| Short | Bybit ZROUSDT | 1.1765 | −0.0025 | pay 0.0012% / 4h | 2h 57m | $18.1M | $16.4M | 50x |
Binance ZROUSDT
Bybit ZROUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- −$26.19
- Price spread: −0.076% → −0.020%
- −$5.63
- Slippage, 4 orders
- −$36.43
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$89.26
- Costs to cover
- 0.574%
- Break-even
- never at this rate
Slippage from Binance: live order book, 15 min ago; Bybit: live order book, 1 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, 15 min ago | 1.28 bp | 12.9 bp −$13 | 27.5 bp −$275 | 321.5 bp −$32.2K | doesn't fit |
| Sell Bybit live order book, 1 min ago | 2.13 bp | 14.9 bp −$15 | 36.4 bp −$364 | 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 | −0.0296% | 1h | 1.1749 | −0.209% | $7K | $3K | 5x | as long as short |
| Orderly PERP_ZRO_USDC | −0.0036% | 4h | 1.1764 | −0.085% | $21K | $7K | 10x | as long as short |
| Bybit ZROUSDTshort | −0.0025% | 4h | 1.1765 | −0.076% | $18.1M | $16.4M | 50x | |
| OKX ZRO-USDT-SWAP | −0.0018% | 4h | 1.1776 | +0.017% | $3.2M | $9.3M | 20x | as long as short |
| dYdX ZRO-USD | 0.0000% | 1h | 1.1766 | −0.068% | $21K | $2K | 5x | as long as short |
| Hyperliquid ZRO | +0.0100% | 1h | 1.1791 | +0.144% | $37.5M | $7.3M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1771 | −0.025% | $157K | $165K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1759 | −0.131% | $143K | $201K | 5x | as long as short |
| Binance ZROUSDTlong | +0.0100% | 4h | 1.1774 | long leg | $22.3M | $34.8M | 75x | |
| Gate ZRO_USDT | +0.0100% | 4h | 1.1750 | −0.204% | $1.3M | $2.0M | 75x | as long as short |
01 Exchange ZROUSD
Orderly PERP_ZRO_USDC
OKX ZRO-USDT-SWAP
dYdX ZRO-USD
Hyperliquid ZRO
Aster ZROUSDT
Pacifica ZRO
Gate ZRO_USDTShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1771 | −0.025% | $19.0M | $3.5M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1756 | −0.153% | $2.5M | $1.5M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1778 | +0.034% | $2.7M | $2.6M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1768 | −0.051% | — | $10.9M | — | as long as short |
| Backpack ZRO_USDC_PERP | +0.0100% | 1h | 1.1777 | +0.025% | $92K | $208K | 20x | as long as short |
| Variational Omni ZRO | +0.0100% | 4h | 1.1788 | +0.120% | $2.2M | $892K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1770 | −0.034% | $37K | $682K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1775 | +0.008% | $86K | $1.0M | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1760 | −0.119% | $21K | — | 3x | as long as short |
| BloFin ZRO-USDT | +0.0136% | 4h | 1.1760 | −0.119% | $1.1M | $265K | 75x | as long as short |
| Extended ZRO-USD | +0.0144% | 1h | 1.1779 | +0.040% | $780K | $559K | 10x | as long as short |
| Lighter ZRO | +0.0248% | 1h | 1.1782 | +0.071% | $4.7M | $1.1M | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0291% / S −0.2341% | 1h | 1.1772 | −0.015% | $3K | — | 100x | as long as short |
| Nado ZRO-PERP | +0.0310% | 1h | 1.1761 | −0.112% | $1.3M | $132K | 5x | as long as short |
| Kraken Futures PF_ZROUSD | +0.0318% | 1h | 1.1779 | +0.040% | $249K | $574K | 25x | as long as short |
| Injective ZRO/USDC PERP | +0.1237% | 1h | 1.1800 | +0.221% | $12K | $145K | 12x | as long as short |
MEXC ZRO_USDT
KuCoin ZROUSDTM
Bitget ZROUSDT
BingX ZRO-USDT
Backpack ZRO_USDC_PERP
Variational Omni ZRO
ApeX Omni ZROUSDT
Polymarket Perps ZRO-USD
Aevo ZRO-PERP
BloFin ZRO-USDT
Extended ZRO-USD
Lighter ZRO
GMX ZRO/USD [ETH-USDC]
Nado ZRO-PERP
Kraken Futures PF_ZROUSD
Injective ZRO/USDC PERP