ZRO

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0097%/8h= +10.6% APRnext payment +$0.12 per $10,000 · paid last 24h +0.010%

Price spread now: Backpack against dYdX−0.068%7-day average — · you buy dearer than you sell

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

Long on dYdX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 5 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. Backpack is 0.068% cheaper against dYdX than usual: you would sell low and buy high (spread −0.068% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 2.3 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ZRO-USD	1.1661	0.0003	pay 0.0000% / 1h	8m 31s	$21K	$3K	5x
Short	Backpack ZRO_USDC_PERP	1.1653	0.0100	get 0.0013% / 1h	8m 31s	$96K	$211K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against dYdX. 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 dYdXbpFee BackpackbpOrdersPrice spread, now −0.068%Rate

Funding earned: $20.39
Price spread: −0.068% → 0.000%: −$6.78
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$6.39
Costs to cover: 0.200%
Break-even: 9.2 days

Slippage unknown: dYdX: no order-book sample; Backpack: live order book, 60 min ago. 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 dYdX no order-book sample	—	—	—	—	—
Sell Backpack live order book, 60 min ago	0.42 bp	9.0 bp −$9	doesn't fit	doesn't fit	doesn't fit

dYdX: 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 25 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	−0.0224%	1h	1.1676	+0.131%	$7K	$3K	5x	as long as short
Bybit ZROUSDT	−0.0026%	4h	1.1667	+0.052%	$17.9M	$13.9M	50x	as long as short
dYdX ZRO-USDlong	+0.0003%	1h	1.1661	long leg	$21K	$3K	5x
Gate ZRO_USDT	+0.0014%	4h	1.1660	−0.008%	$1.3M	$1.5M	75x	as long as short
Orderly PERP_ZRO_USDC	+0.0031%	4h	1.1651	−0.085%	$20K	$5K	10x	as long as short
Lighter ZRO	+0.0096%	1h	1.1675	+0.120%	$4.3M	$1.2M	5x	as long as short
Hyperliquid ZRO	+0.0100%	1h	1.1670	+0.078%	$36.9M	$5.4M	5x	as long as short
Aster ZROUSDT	+0.0100%	4h	1.1659	−0.015%	$157K	$150K	10x	as long as short
Pacifica ZRO	+0.0100%	1h	1.1658	−0.029%	$136K	$167K	5x	as long as short
Binance ZROUSDT	+0.0100%	4h	1.1674	+0.116%	$21.9M	$29.7M	75x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ZRO-USDT-SWAP	+0.0100%	4h	1.1676	+0.129%	$3.2M	$7.9M	20x	as long as short
MEXC ZRO_USDT	+0.0100%	4h	1.1660	−0.008%	$19.0M	$2.8M	125x	as long as short
KuCoin ZROUSDTM	+0.0100%	4h	1.1659	−0.016%	$2.3M	$1.9M	50x	as long as short
Bitget ZROUSDT	+0.0100%	4h	1.1676	+0.129%	$2.7M	$2.4M	75x	as long as short
BingX ZRO-USDT	+0.0100%	4h	1.1653	−0.068%	—	$16.5M	—	as long as short
Backpack ZRO_USDC_PERPshort	+0.0100%	1h	1.1653	−0.068%	$96K	$211K	20x
Variational Omni ZRO	+0.0100%	4h	1.1662	+0.013%	$2.3M	$815K	—	as long as short
ApeX Omni ZROUSDT	+0.0100%	1h	1.1680	+0.164%	$39K	$674K	50x	as long as short
Polymarket Perps ZRO-USD	+0.0100%	1h	1.1685	+0.207%	$91K	$836K	5x	as long as short
Aevo ZRO-PERP	+0.0104%	1h	1.1645	−0.133%	$21K	—	3x	as long as short
Nado ZRO-PERP	+0.0228%	1h	1.1675	+0.118%	$1.3M	$124K	5x	as long as short
GMX ZRO/USD [ETH-USDC]	L +0.0292% / S −0.2341%	1h	1.1654	−0.057%	$3K	—	100x	as long as short
Kraken Futures PF_ZROUSD	+0.0373%	1h	1.1669	+0.065%	$250K	$400K	25x	as long as short
Extended ZRO-USD	+0.0976%	1h	1.1657	−0.033%	$780K	$591K	10x	as long as short
Injective ZRO/USDC PERP	+0.1213%	1h	1.1730	+0.593%	$12K	$260K	12x	as long as short