Funding you earn now, next payment 03:00 UTC+0.0036%/8h= +3.9% APRpaid last 24h −0.007%
Price spread now: Backpack against Gate+0.111%7-day average +0.012% · you sell dearer than you buy
Net, funding: paid 7d − costs−$82as in the Funding arb table
Net, price: spread back to 7d avg − costs−$57as in the Price arb table
costs, in and out, $10k−$670.667% of the position
Funding, last 7 days−0.156%−$16 on $10k
+Price spread, last 4 days (all we have)−0.254%−$25 · spread now +0.111%, 7d avg +0.012%
=Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Backpack is 0.099% dearer against Gate than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.012%. Mind the row above: over the last 7 days funding on this pair cost −0.156%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Gate ZRO_USDT | 1.1720 | 0.0064 | pay 0.0032% / 4h | 1h 22m | $1.3M | $1.5M | 75x |
| Short | Backpack ZRO_USDC_PERP | 1.1733 | 0.0100 | get 0.0013% / 1h | 22m 43s | $97K | $195K | 20x |
Gate ZRO_USDT
Backpack ZRO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Gate. 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
- $7.56
- Price spread: +0.111% → +0.012%
- $9.93
- Slippage, 4 orders
- −$41.74
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$49.26
- Costs to cover
- 0.667%
- Break-even
- 52.6 days
Slippage from Gate: live order book, 5 min ago; Backpack: live order book, 40 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 Gate live order book, 5 min ago | 4.29 bp | 19.8 bp −$20 | 66.4 bp −$664 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 40 min ago | 0.43 bp | 7.4 bp −$7 | 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 | −0.0368% | 1h | 1.1724 | +0.038% | $7K | $3K | 5x | as long as short |
| dYdX ZRO-USD | +0.0017% | 1h | 1.1715 | −0.041% | $21K | $3K | 5x | as long as short |
| Orderly PERP_ZRO_USDC | +0.0036% | 4h | 1.1729 | +0.077% | $21K | $5K | 10x | as long as short |
| Gate ZRO_USDTlong | +0.0064% | 4h | 1.1720 | long leg | $1.3M | $1.5M | 75x | |
| Lighter ZRO | +0.0096% | 1h | 1.1755 | +0.299% | $4.4M | $1.2M | 5x | as long as short |
| Bybit ZROUSDT | +0.0098% | 4h | 1.1730 | +0.085% | $17.9M | $14.0M | 50x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1726 | +0.051% | $158K | $150K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1721 | +0.009% | $136K | $176K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1738 | +0.156% | $22.0M | $29.8M | 75x | as long as short |
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1739 | +0.162% | $3.2M | $8.0M | 20x | as long as short |
01 Exchange ZROUSD
dYdX ZRO-USD
Orderly PERP_ZRO_USDC
Lighter ZRO
Bybit ZROUSDT
Aster ZROUSDT
Pacifica ZRO
Binance ZROUSDT
OKX ZRO-USDT-SWAPShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1732 | +0.102% | $19.1M | $2.7M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1725 | +0.043% | $2.4M | $2.0M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1726 | +0.051% | $2.7M | $2.5M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1727 | +0.060% | — | $16.4M | — | as long as short |
| Backpack ZRO_USDC_PERPshort | +0.0100% | 1h | 1.1733 | +0.111% | $97K | $195K | 20x | |
| Variational Omni ZRO | +0.0100% | 4h | 1.1667 | −0.456% | $2.3M | $810K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1690 | −0.256% | $39K | $671K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1730 | +0.085% | $99K | $846K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1725 | +0.043% | $21K | — | 3x | as long as short |
| Hyperliquid ZRO | +0.0118% | 1h | 1.1756 | +0.307% | $37.2M | $5.5M | 5x | as long as short |
| BloFin ZRO-USDT | +0.0154% | 4h | 1.1731 | +0.094% | $1.1M | $249K | 75x | as long as short |
| Kraken Futures PF_ZROUSD | +0.0197% | 1h | 1.1742 | +0.185% | $258K | $407K | 25x | as long as short |
| Nado ZRO-PERP | +0.0207% | 1h | 1.1717 | −0.025% | $1.3M | $124K | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0292% / S −0.2341% | 1h | 1.1725 | +0.041% | $3K | — | 100x | as long as short |
| Extended ZRO-USD | +0.0648% | 1h | 1.1732 | +0.105% | $784K | $591K | 10x | as long as short |
| Injective ZRO/USDC PERP | +0.1102% | 1h | 1.1770 | +0.427% | $12K | $260K | 12x | as long as short |
MEXC ZRO_USDT
KuCoin ZROUSDTM
Bitget ZROUSDT
BingX ZRO-USDT
Variational Omni ZRO
ApeX Omni ZROUSDT
Polymarket Perps ZRO-USD
Aevo ZRO-PERP
Hyperliquid ZRO
BloFin ZRO-USDT
Kraken Futures PF_ZROUSD
Nado ZRO-PERP
GMX ZRO/USD [ETH-USDC]
Extended ZRO-USD
Injective ZRO/USDC PERP