Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.028%
Price spread now: Backpack against BingX+0.084%7-day average +0.029% · you sell dearer than you buy
Net, funding: paid 7d − costs−$54as in the Funding arb table
Net, price: spread back to 7d avg − costs−$27as in the Price arb table
costs, in and out, $10k−$330.330% of the position
Funding, last 7 days−0.206%−$21 on $10k
+Price spread, last 4 days (all we have)−0.066%−$7 · spread now +0.084%, 7d avg +0.029%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.056% dearer against BingX than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.029%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BingX ZRO-USDT | 1.1844 | 0.0100 | pay 0.0050% / 4h | 1h 55m | — | $10.9M | — |
| Short | Backpack ZRO_USDC_PERP | 1.1854 | 0.0100 | get 0.0013% / 1h | 55m 51s | $95K | $205K | 20x |
BingX ZRO-USDT
Backpack ZRO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against BingX. 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: +0.084% → +0.029%
- $5.59
- Slippage, 4 orders
- −$12.96
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$27.38
- Costs to cover
- 0.330%
- Break-even
- never at this rate
Slippage from BingX: live order book, 12 min ago; Backpack: live order book, 27 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 BingX live order book, 12 min ago | 2.96 bp | 8.8 bp −$9 | 11.8 bp −$118 | 25.7 bp −$2,575 | 53.2 bp −$26.6K |
| Sell Backpack live order book, 27 min ago | 0.84 bp | 7.3 bp −$7 | 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 | −0.0592% | 1h | 1.1847 | +0.027% | $7K | $3K | 5x | as long as short |
| Orderly PERP_ZRO_USDC | −0.0056% | 4h | 1.1850 | +0.051% | $21K | $7K | 10x | as long as short |
| dYdX ZRO-USD | 0.0000% | 1h | 1.1848 | +0.034% | $21K | $2K | 5x | as long as short |
| Kraken Futures PF_ZROUSD | +0.0059% | 1h | 1.1862 | +0.149% | $251K | $566K | 25x | as long as short |
| Lighter ZRO | +0.0096% | 1h | 1.1848 | +0.036% | $4.5M | $1.5M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1848 | +0.035% | $158K | $160K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1848 | +0.035% | $139K | $190K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1852 | +0.070% | $22.3M | $32.3M | 75x | as long as short |
| Bybit ZROUSDT | +0.0100% | 4h | 1.1843 | −0.008% | $18.1M | $15.2M | 50x | as long as short |
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1856 | +0.101% | $3.2M | $8.7M | 20x | as long as short |
01 Exchange ZROUSD
Orderly PERP_ZRO_USDC
dYdX ZRO-USD
Kraken Futures PF_ZROUSD
Lighter 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 | 1.1840 | −0.034% | $1.3M | $1.8M | 75x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1854 | +0.084% | $19.1M | $3.1M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1849 | +0.042% | $2.9M | $1.8M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1851 | +0.059% | $2.7M | $2.5M | 75x | as long as short |
| BingX ZRO-USDTlong | +0.0100% | 4h | 1.1844 | long leg | — | $10.9M | — | |
| Backpack ZRO_USDC_PERPshort | +0.0100% | 1h | 1.1854 | +0.084% | $95K | $205K | 20x | |
| Variational Omni ZRO | +0.0100% | 4h | 1.1806 | −0.324% | $2.3M | $859K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1810 | −0.287% | $37K | $682K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1857 | +0.110% | $88K | $909K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1845 | +0.008% | $21K | — | 3x | as long as short |
| Hyperliquid ZRO | +0.0133% | 1h | 1.1869 | +0.211% | $37.7M | $6.4M | 5x | as long as short |
| BloFin ZRO-USDT | +0.0154% | 4h | 1.1824 | −0.169% | $1.1M | $263K | 75x | as long as short |
| Nado ZRO-PERP | +0.0157% | 1h | 1.1850 | +0.048% | $1.3M | $129K | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0296% / S −0.2416% | 1h | 1.1854 | +0.087% | $3K | — | 100x | as long as short |
| Injective ZRO/USDC PERP | +0.0980% | 1h | 1.1860 | +0.135% | $12K | $218K | 12x | as long as short |
| Extended ZRO-USD | +0.2080% | 1h | 1.1846 | +0.013% | $784K | $539K | 10x | as long as short |
Gate ZRO_USDT
MEXC ZRO_USDT
KuCoin ZROUSDTM
Bitget ZROUSDT
Variational Omni ZRO
ApeX Omni ZROUSDT
Polymarket Perps ZRO-USD
Aevo ZRO-PERP
Hyperliquid ZRO
BloFin ZRO-USDT
Nado ZRO-PERP
GMX ZRO/USD [ETH-USDC]
Injective ZRO/USDC PERP
Extended ZRO-USD