Funding arb · Price arb /

ZRO

all ZRO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.2241%/8h= +245.4% APRpaid last 24h +0.837%

Price spread now: GMX against Binance−0.071%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Binance Short on GMX

What this pair did over the last

the charts below follow

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

Funding pays, the price is against you. GMX is 0.071% cheaper against Binance than usual: you would sell low and buy high (spread −0.071% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 3 hours of funding at the current rate (+$67 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ZROUSDT	1.1650	0.0100	pay 0.0050% / 4h	2h 21m	$21.8M	$29.4M	75x
Short	GMX ZRO/USD [ETH-USDC]	1.1642	L +0.0292% / S −0.2341%	get 0.0293% / 1h	21m 19s	$3K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Binance. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BinancebpFee GMXbpOrdersPrice spread, now −0.071%Rate

Funding earned: $470.65
Price spread: −0.071% → 0.000%: −$7.13
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $441.52
Costs to cover: 0.220%
Break-even: 0.4 days

Slippage unknown: Binance: live order book, 5 min ago; GMX: 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 Binance live order book, 5 min ago	0.87 bp	13.1 bp −$13	31.4 bp −$314	343.8 bp −$34.4K	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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
dYdX ZRO-USD	+0.0010%	1h	1.1644	−0.047%	$21K	$5K	5x	as long as short
Orderly PERP_ZRO_USDC	+0.0068%	4h	1.1647	−0.024%	$20K	$4K	10x	as long as short
BloFin ZRO-USDT	+0.0090%	4h	1.1560	−0.771%	$1.0M	$247K	75x	as long as short
Lighter ZRO	+0.0096%	1h	1.1664	+0.118%	$4.3M	$1.2M	5x	as long as short
Hyperliquid ZRO	+0.0100%	1h	1.1657	+0.061%	$37.0M	$5.5M	5x	as long as short
Aster ZROUSDT	+0.0100%	4h	1.1650	0.000%	$157K	$150K	10x	as long as short
Pacifica ZRO	+0.0100%	1h	1.1641	−0.073%	$137K	$176K	5x	as long as short
Binance ZROUSDTlong	+0.0100%	4h	1.1650	long leg	$21.8M	$29.4M	75x
Bybit ZROUSDT	+0.0100%	4h	1.1648	−0.016%	$17.8M	$13.5M	50x	as long as short
OKX ZRO-USDT-SWAP	+0.0100%	4h	1.1639	−0.093%	$3.2M	$7.8M	20x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ZRO_USDT	+0.0100%	4h	1.1650	+0.001%	$1.3M	$1.5M	75x	as long as short
MEXC ZRO_USDT	+0.0100%	4h	1.1650	+0.001%	$19.1M	$2.7M	125x	as long as short
KuCoin ZROUSDTM	+0.0100%	4h	1.1650	+0.001%	$2.4M	$2.0M	50x	as long as short
Bitget ZROUSDT	+0.0100%	4h	1.1640	−0.085%	$2.7M	$2.5M	75x	as long as short
BingX ZRO-USDT	+0.0100%	4h	1.1650	+0.001%	—	$16.5M	—	as long as short
Backpack ZRO_USDC_PERP	+0.0100%	1h	1.1639	−0.093%	$94K	$221K	20x	as long as short
Variational Omni ZRO	+0.0100%	4h	1.1540	−0.946%	$2.2M	$809K	—	as long as short
ApeX Omni ZROUSDT	+0.0100%	1h	1.1580	−0.600%	$39K	$676K	50x	as long as short
Polymarket Perps ZRO-USD	+0.0100%	1h	1.1660	+0.087%	$102K	$815K	5x	as long as short
Aevo ZRO-PERP	+0.0104%	1h	1.1641	−0.072%	$21K	—	3x	as long as short
01 Exchange ZROUSD	+0.0112%	1h	1.1648	−0.012%	$4K	$5K	5x	as long as short
Nado ZRO-PERP	+0.0186%	1h	1.1658	+0.068%	$1.3M	$126K	5x	as long as short
GMX ZRO/USD [ETH-USDC]short	L +0.0292% / S −0.2341%	1h	1.1642	−0.071%	$3K	—	100x
Kraken Futures PF_ZROUSD	+0.0706%	1h	1.1651	+0.006%	$252K	$335K	25x	as long as short
Extended ZRO-USD	+0.0992%	1h	1.1639	−0.091%	$795K	$625K	10x	as long as short
Injective ZRO/USDC PERP	+0.1343%	1h	1.1630	−0.170%	$12K	$261K	12x	as long as short