Funding you earn now, next payment 06:00 UTC−0.0896%/8h= −98.1% APRnext payment −$1.12 per $10,000 · paid last 24h −0.131%
Price spread now: Lighter against Extended+0.096%7-day average +0.197% · you sell dearer than you buy
Net, funding: paid 7d − costs−$901as in the Funding arb table
Net, price: spread back to 7d avg − costs−$928as in the Price arb table
costs, in and out, $10k−$9189.180% of the position
Funding, last 7 days+0.168%+$17 on $10k
+Price spread, last 4 days (all we have)+0.073%+$7 · spread now +0.096%, 7d avg +0.197%
=Together, before fees+0.242%+ Points / potential airdropExtended: Active · Lighter: Season 3 · farm board+$24 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$27 a day on $10k at the current rate, and Lighter is 0.101% cheaper against Extended than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.197%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.168%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.168% in total (about 8.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.12 per $10,000. 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 | Extended ZRO-USD | 1.1681 | 0.0992 | pay 0.0124% / 1h | 19m 48s | $799K | $625K | 10x |
| Short | Lighter ZRO | 1.1693 | 0.0096 | get 0.0012% / 1h | 19m 48s | $4.4M | $1.2M | 5x |
Extended ZRO-USD
Lighter ZROFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Extended. 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
- −$188.16
- Price spread: +0.096% → +0.197%
- −$10.13
- Slippage, 4 orders
- −$913.04
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$1,116.33
- Costs to cover
- 9.180%
- Break-even
- never at this rate
Slippage from Extended: live order book, 28 min ago; Lighter: live order book, 3 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 Extended live order book, 28 min ago | 12.40 bp | 853.7 bp −$854 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 3 min ago | 7.05 bp | 28.9 bp −$29 | 98.0 bp −$980 | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX ZRO-USD | +0.0009% | 1h | 1.1678 | −0.026% | $21K | $5K | 5x | as long as short |
| BloFin ZRO-USDT | +0.0044% | 4h | 1.1640 | −0.354% | $1.0M | $249K | 75x | as long as short |
| Orderly PERP_ZRO_USDC | +0.0068% | 4h | 1.1676 | −0.046% | $20K | $4K | 10x | as long as short |
| Lighter ZROshort | +0.0096% | 1h | 1.1693 | +0.096% | $4.4M | $1.2M | 5x | |
| Hyperliquid ZRO | +0.0100% | 1h | 1.1690 | +0.074% | $37.1M | $5.5M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1687 | +0.047% | $157K | $151K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1678 | −0.031% | $137K | $176K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1687 | +0.047% | $21.8M | $29.4M | 75x | as long as short |
| Bybit ZROUSDT | +0.0100% | 4h | 1.1681 | −0.003% | $17.9M | $13.6M | 50x | as long as short |
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1683 | +0.014% | $3.2M | $7.8M | 20x | as long as short |
dYdX ZRO-USD
BloFin ZRO-USDT
Orderly PERP_ZRO_USDC
Hyperliquid 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 | 1.1670 | −0.097% | $1.3M | $1.5M | 75x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1686 | +0.039% | $19.2M | $2.7M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1682 | +0.005% | $2.4M | $2.0M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1679 | −0.020% | $2.7M | $2.5M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1682 | +0.005% | — | $16.5M | — | as long as short |
| Backpack ZRO_USDC_PERP | +0.0100% | 1h | 1.1685 | +0.031% | $94K | $221K | 20x | as long as short |
| Variational Omni ZRO | +0.0100% | 4h | 1.1633 | −0.410% | $2.3M | $809K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1580 | −0.868% | $39K | $676K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1679 | −0.020% | $102K | $815K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1658 | −0.199% | $21K | — | 3x | as long as short |
| 01 Exchange ZROUSD | +0.0112% | 1h | 1.1680 | −0.008% | $4K | $5K | 5x | as long as short |
| Nado ZRO-PERP | +0.0179% | 1h | 1.1677 | −0.035% | $1.3M | $126K | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0292% / S −0.2341% | 1h | 1.1679 | −0.022% | $3K | — | 100x | as long as short |
| Kraken Futures PF_ZROUSD | +0.0704% | 1h | 1.1685 | +0.034% | $253K | $335K | 25x | as long as short |
| Extended ZRO-USDlong | +0.0992% | 1h | 1.1681 | long leg | $799K | $625K | 10x | |
| Injective ZRO/USDC PERP | +0.1343% | 1h | 1.1630 | −0.440% | $12K | $261K | 12x | as long as short |
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
01 Exchange ZROUSD
Nado ZRO-PERP
GMX ZRO/USD [ETH-USDC]
Kraken Futures PF_ZROUSD
Injective ZRO/USDC PERP