Funding you earn now, next payment 23:00 UTC+0.0880%/8h= +96.3% APRpaid last 24h +0.089%
Price spread now: Injective against Bybit+0.389%7-day average +0.031% · you sell dearer than you buy
Net, funding: paid 7d − costs−$136as in the Funding arb table
Net, price: spread back to 7d avg − costs−$75as in the Price arb table
costs, in and out, $10k−$1111.108% of the position
Funding, last 7 days−0.249%−$25 on $10k
+Price spread, last 3 days (all we have)−1.114%−$111 · spread now +0.389%, 7d avg +0.031%
=Both sides work for this trade now. Funding pays +$26 a day on $10k at the current rate, and Injective is 0.358% dearer against Bybit than usual: you sell high and buy low: +$36 more if the spread goes back to its 7-day average of +0.031%. Mind the row above: over the last 7 days funding on this pair cost −0.249%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.249% in total (about -13.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit ZROUSDT | 1.1834 | 0.0100 | pay 0.0050% / 4h | 1h 11m | $18.1M | $14.8M | 50x |
| Short | Injective ZRO/USDC PERP | 1.1880 | 0.0980 | get 0.0122% / 1h | 11m 07s | $12K | $260K | 12x |
Bybit ZROUSDT
Injective ZRO/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Bybit. 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
- $184.7
- Price spread: +0.389% → +0.031%
- $35.8
- Slippage, 4 orders
- −$99.73
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $109.75
- Costs to cover
- 1.108%
- Break-even
- 2.8 days
Slippage from Bybit: live order book, 2 min ago; Injective: live order book, 8 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 Bybit live order book, 2 min ago | 0.85 bp | 16.5 bp −$17 | 46.4 bp −$464 | doesn't fit | doesn't fit |
| Sell Injective live order book, 8 min ago | 33.84 bp | 44.2 bp −$44 | 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 | −0.0456% | 1h | 1.1834 | 0.000% | $7K | $3K | 5x | as long as short |
| Orderly PERP_ZRO_USDC | −0.0025% | 4h | 1.1844 | +0.085% | $21K | $7K | 10x | as long as short |
| Kraken Futures PF_ZROUSD | +0.0059% | 1h | 1.1857 | +0.196% | $254K | $512K | 25x | as long as short |
| BloFin ZRO-USDT | +0.0067% | 4h | 1.1834 | 0.000% | $1.1M | $263K | 75x | as long as short |
| Lighter ZRO | +0.0096% | 1h | 1.1845 | +0.093% | $4.4M | $1.5M | 5x | as long as short |
| Hyperliquid ZRO | +0.0100% | 1h | 1.1860 | +0.220% | $37.6M | $6.2M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1851 | +0.146% | $158K | $154K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1839 | +0.039% | $137K | $183K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1841 | +0.059% | $22.2M | $31.6M | 75x | as long as short |
| Bybit ZROUSDTlong | +0.0100% | 4h | 1.1834 | long leg | $18.1M | $14.8M | 50x |
01 Exchange ZROUSD
Orderly PERP_ZRO_USDC
Kraken Futures PF_ZROUSD
BloFin ZRO-USDT
Lighter ZRO
Hyperliquid ZRO
Aster ZROUSDT
Pacifica ZRO
Binance ZROUSDTShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1846 | +0.101% | $3.2M | $8.5M | 20x | as long as short |
| Gate ZRO_USDT | +0.0100% | 4h | 1.1840 | +0.051% | $1.4M | $1.8M | 75x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1843 | +0.076% | $19.2M | $3.1M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1831 | −0.025% | $2.5M | $1.9M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1841 | +0.059% | $2.7M | $2.4M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1840 | +0.051% | — | $10.7M | — | as long as short |
| Backpack ZRO_USDC_PERP | +0.0100% | 1h | 1.1853 | +0.161% | $101K | $208K | 20x | as long as short |
| Variational Omni ZRO | +0.0100% | 4h | 1.1793 | −0.346% | $2.3M | $868K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1850 | +0.135% | $37K | $685K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1852 | +0.152% | $89K | $865K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1848 | +0.121% | $21K | — | 3x | as long as short |
| dYdX ZRO-USD | +0.0169% | 1h | 1.1838 | +0.032% | $21K | $2K | 5x | as long as short |
| Nado ZRO-PERP | +0.0193% | 1h | 1.1837 | +0.025% | $1.3M | $126K | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0292% / S −0.2341% | 1h | 1.1850 | +0.134% | $3K | — | 100x | as long as short |
| Injective ZRO/USDC PERPshort | +0.0980% | 1h | 1.1880 | +0.389% | $12K | $260K | 12x | |
| Extended ZRO-USD | +0.2424% | 1h | 1.1843 | +0.072% | $784K | $560K | 10x | as long as short |
OKX ZRO-USDT-SWAP
Gate ZRO_USDT
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
dYdX ZRO-USD
Nado ZRO-PERP
GMX ZRO/USD [ETH-USDC]
Extended ZRO-USD