Funding arb · Price arb /

ZRO

all ZRO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.2241%/8h= +245.4% APRpaid last 24h +1.007%

Price spread now: GMX against BingX−0.039%7-day average — · you buy dearer than you sell

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

Long on BingX 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 0.039% cheaper against BingX than usual: you would sell low and buy high (spread −0.039% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 1 hour of funding at the current rate (+$67 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ZRO-USDT	1.1837	0.0100	pay 0.0050% / 4h	3h 16m	—	$14.7M	—
Short	GMX ZRO/USD [ETH-USDC]	1.1832	L +0.0292% / S −0.2341%	get 0.0293% / 1h	16m 00s	$3K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against BingX. 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 BingXbpFee GMXbpOrdersPrice spread, now −0.039%Rate

Funding earned: $470.65
Price spread: −0.039% → 0.000%: −$3.93
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $444.72
Costs to cover: 0.220%
Break-even: 0.4 days

Slippage unknown: BingX: live order book, 7 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 BingX live order book, 7 min ago	2.12 bp	8.1 bp −$8	13.6 bp −$136	26.9 bp −$2,695	49.3 bp −$24.6K
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
01 Exchange ZROUSD	−0.0096%	1h	1.1827	−0.080%	$7K	$3K	5x	as long as short
Orderly PERP_ZRO_USDC	+0.0012%	4h	1.1830	−0.059%	$21K	$6K	10x	as long as short
BloFin ZRO-USDT	+0.0059%	4h	1.1788	−0.414%	$1.1M	$254K	75x	as long as short
Lighter ZRO	+0.0096%	1h	1.1846	+0.079%	$4.4M	$1.5M	5x	as long as short
Hyperliquid ZRO	+0.0100%	1h	1.1846	+0.080%	$37.5M	$5.7M	5x	as long as short
Aster ZROUSDT	+0.0100%	4h	1.1838	+0.008%	$158K	$149K	10x	as long as short
Pacifica ZRO	+0.0100%	1h	1.1822	−0.127%	$137K	$168K	5x	as long as short
Binance ZROUSDT	+0.0100%	4h	1.1838	+0.008%	$22.2M	$30.1M	75x	as long as short
Bybit ZROUSDT	+0.0100%	4h	1.1845	+0.068%	$18.1M	$14.1M	50x	as long as short
OKX ZRO-USDT-SWAP	+0.0100%	4h	1.1847	+0.084%	$3.2M	$8.0M	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	1.1830	−0.059%	$1.4M	$1.5M	75x	as long as short
MEXC ZRO_USDT	+0.0100%	4h	1.1835	−0.017%	$19.2M	$2.7M	125x	as long as short
KuCoin ZROUSDTM	+0.0100%	4h	1.1832	−0.042%	$2.4M	$1.9M	50x	as long as short
Bitget ZROUSDT	+0.0100%	4h	1.1842	+0.042%	$2.7M	$2.4M	75x	as long as short
BingX ZRO-USDTlong	+0.0100%	4h	1.1837	long leg	—	$14.7M	—
Variational Omni ZRO	+0.0100%	4h	1.1818	−0.159%	$2.3M	$853K	—	as long as short
ApeX Omni ZROUSDT	+0.0100%	1h	1.1800	−0.313%	$37K	$688K	50x	as long as short
Polymarket Perps ZRO-USD	+0.0100%	1h	1.1834	−0.025%	$92K	$826K	5x	as long as short
Aevo ZRO-PERP	+0.0104%	1h	1.1832	−0.042%	$21K	—	3x	as long as short
dYdX ZRO-USD	+0.0228%	1h	1.1800	−0.316%	$21K	$3K	5x	as long as short
Nado ZRO-PERP	+0.0291%	1h	1.1816	−0.175%	$1.3M	$128K	5x	as long as short
GMX ZRO/USD [ETH-USDC]short	L +0.0292% / S −0.2341%	1h	1.1832	−0.039%	$3K	—	100x
Kraken Futures PF_ZROUSD	+0.0300%	1h	1.1846	+0.076%	$254K	$410K	25x	as long as short
Backpack ZRO_USDC_PERP	+0.0385%	1h	1.1843	+0.051%	$99K	$204K	20x	as long as short
Injective ZRO/USDC PERP	+0.1190%	1h	1.1820	−0.144%	$12K	$260K	12x	as long as short
Extended ZRO-USD	+0.1256%	1h	1.1844	+0.055%	$788K	$589K	10x	as long as short