Funding arb · Price arb /

ZRO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.025%

Price spread now: Variational Omni against dYdX−0.207%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 Variational Omni

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—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Variational Omni is 0.207% cheaper against dYdX than usual: you would sell low and buy high (spread −0.207% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$21 on $10k: about 6.9 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	1.1826	0	get 0.0000% / 1h	35m 42s	$21K	$2K	5x
Short	Variational Omni ZRO	1.1802	0.0100	get 0.0050% / 4h	2h 35m	$2.3M	$879K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.207%Rate

Funding earned: $21
Price spread: −0.207% → 0.000%: −$20.69
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$9.69
Costs to cover: 0.100%
Break-even: 10.2 days

Slippage unknown: dYdX: no order-book sample; Variational Omni: RFQ quote, 3 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 Variational Omni RFQ quote, 3 min ago	4.03 bp	doesn't fit	48.7 bp −$487	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 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	−0.0392%	1h	1.1802	−0.206%	$7K	$3K	5x	as long as short
Orderly PERP_ZRO_USDC	−0.0055%	4h	1.1812	−0.119%	$21K	$7K	10x	as long as short
dYdX ZRO-USDlong	0.0000%	1h	1.1826	long leg	$21K	$2K	5x
OKX ZRO-USDT-SWAP	+0.0038%	4h	1.1833	+0.059%	$3.2M	$9.1M	20x	as long as short
Bybit ZROUSDT	+0.0039%	4h	1.1820	−0.051%	$18.1M	$15.9M	50x	as long as short
Lighter ZRO	+0.0096%	1h	1.1821	−0.043%	$4.6M	$1.2M	5x	as long as short
Variational Omni ZROshort	+0.0100%	4h	1.1802	−0.207%	$2.3M	$879K	—
Hyperliquid ZRO	+0.0100%	1h	1.1825	−0.009%	$37.5M	$6.9M	5x	as long as short
Aster ZROUSDT	+0.0100%	4h	1.1828	+0.017%	$158K	$161K	10x	as long as short
Pacifica ZRO	+0.0100%	1h	1.1825	−0.012%	$144K	$195K	5x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ZROUSDT	+0.0100%	4h	1.1826	0.000%	$22.4M	$33.9M	75x	as long as short
Gate ZRO_USDT	+0.0100%	4h	1.1810	−0.136%	$1.3M	$2.0M	75x	as long as short
MEXC ZRO_USDT	+0.0100%	4h	1.1826	0.000%	$19.1M	$3.5M	125x	as long as short
KuCoin ZROUSDTM	+0.0100%	4h	1.1837	+0.093%	$2.5M	$1.5M	50x	as long as short
Bitget ZROUSDT	+0.0100%	4h	1.1827	+0.008%	$2.7M	$2.5M	75x	as long as short
BingX ZRO-USDT	+0.0100%	4h	1.1833	+0.059%	—	$10.9M	—	as long as short
Backpack ZRO_USDC_PERP	+0.0100%	1h	1.1817	−0.076%	$92K	$204K	20x	as long as short
ApeX Omni ZROUSDT	+0.0100%	1h	1.1810	−0.136%	$37K	$681K	50x	as long as short
Polymarket Perps ZRO-USD	+0.0100%	1h	1.1818	−0.068%	$87K	$990K	5x	as long as short
Aevo ZRO-PERP	+0.0104%	1h	1.1810	−0.139%	$21K	—	3x	as long as short
BloFin ZRO-USDT	+0.0114%	4h	1.1826	0.000%	$1.1M	$266K	75x	as long as short
Nado ZRO-PERP	+0.0164%	1h	1.1811	−0.125%	$1.3M	$130K	5x	as long as short
GMX ZRO/USD [ETH-USDC]	L +0.0292% / S −0.2341%	1h	1.1823	−0.029%	$3K	—	100x	as long as short
Kraken Futures PF_ZROUSD	+0.0317%	1h	1.1820	−0.054%	$250K	$577K	25x	as long as short
Extended ZRO-USD	+0.0744%	1h	1.1806	−0.167%	$780K	$560K	10x	as long as short
Injective ZRO/USDC PERP	+0.1237%	1h	1.1850	+0.203%	$12K	$145K	12x	as long as short