ZRO

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.061%

Price spread now: Backpack against Hyperliquid−0.059%7-day average −0.069% · you buy dearer than you sell

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$380.382% of the position

What this pair did over the last

the charts below follow

Funding, last 7 days−0.297%−$30 on $10k

Price spread, last 4 days (all we have)−0.155%−$16 · spread now −0.059%, 7d avg −0.069%

Together, before fees−0.452%+ Points / potential airdropHyperliquid: Season 2 · farm board−$45 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ZRO	1.1834	0.0100	pay 0.0013% / 1h	42m 03s	$37.6M	$7.1M	5x
Short	Backpack ZRO_USDC_PERP	1.1827	0.0100	get 0.0013% / 1h	42m 03s	$92K	$205K	20x

Funding history

latest

Range statsloading…

Backpack against Hyperliquid. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

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latest

How often the price spread is this wide · share of time at each level, last 7D show

Position, each leg$Hold fordaysFee HyperliquidbpFee BackpackbpOrdersPrice spread, now −0.059%Rate

Slippage from Hyperliquid: live order book, 11 min ago; Backpack: live order book, 46 min ago.

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Hyperliquid live order book, 11 min ago	1.27 bp	11.0 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Backpack live order book, 46 min ago	0.42 bp	6.8 bp −$7	doesn't fit	doesn't fit	doesn't fit

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	−0.0360%	1h	1.1814	−0.171%	$7K	$3K	5x	as long as short
Orderly PERP_ZRO_USDC	−0.0046%	4h	1.1816	−0.152%	$21K	$7K	10x	as long as short
dYdX ZRO-USD	0.0000%	1h	1.1816	−0.155%	$21K	$2K	5x	as long as short
Bybit ZROUSDT	+0.0025%	4h	1.1809	−0.211%	$18.1M	$16.1M	50x	as long as short
OKX ZRO-USDT-SWAP	+0.0026%	4h	1.1815	−0.161%	$3.2M	$9.2M	20x	as long as short
BloFin ZRO-USDT	+0.0070%	4h	1.1794	−0.338%	$1.1M	$265K	75x	as long as short
Lighter ZRO	+0.0096%	1h	1.1824	−0.085%	$4.6M	$1.2M	5x	as long as short
Hyperliquid ZROlong	+0.0100%	1h	1.1834	long leg	$37.6M	$7.1M	5x
Aster ZROUSDT	+0.0100%	4h	1.1825	−0.077%	$158K	$162K	10x	as long as short
Pacifica ZRO	+0.0100%	1h	1.1817	−0.144%	$144K	$197K	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	1.1812	−0.186%	$22.3M	$34.0M	75x	as long as short
Gate ZRO_USDT	+0.0100%	4h	1.1810	−0.203%	$1.3M	$2.0M	75x	as long as short
MEXC ZRO_USDT	+0.0100%	4h	1.1820	−0.118%	$19.1M	$3.5M	125x	as long as short
KuCoin ZROUSDTM	+0.0100%	4h	1.1827	−0.059%	$2.6M	$1.5M	50x	as long as short
Bitget ZROUSDT	+0.0100%	4h	1.1816	−0.152%	$2.7M	$2.5M	75x	as long as short
BingX ZRO-USDT	+0.0100%	4h	1.1809	−0.211%	—	$10.9M	—	as long as short
Backpack ZRO_USDC_PERPshort	+0.0100%	1h	1.1827	−0.059%	$92K	$205K	20x
Variational Omni ZRO	+0.0100%	4h	1.1763	−0.599%	$2.2M	$878K	—	as long as short
ApeX Omni ZROUSDT	+0.0100%	1h	1.1790	−0.372%	$37K	$680K	50x	as long as short
Polymarket Perps ZRO-USD	+0.0100%	1h	1.1821	−0.110%	$87K	$996K	5x	as long as short
Aevo ZRO-PERP	+0.0104%	1h	1.1815	−0.161%	$21K	—	3x	as long as short
Nado ZRO-PERP	+0.0174%	1h	1.1816	−0.156%	$1.3M	$131K	5x	as long as short
GMX ZRO/USD [ETH-USDC]	L +0.0292% / S −0.2341%	1h	1.1829	−0.046%	$3K	—	100x	as long as short
Kraken Futures PF_ZROUSD	+0.0317%	1h	1.1833	−0.007%	$251K	$577K	25x	as long as short
Extended ZRO-USD	+0.0960%	1h	1.1815	−0.161%	$780K	$560K	10x	as long as short
Injective ZRO/USDC PERP	+0.1237%	1h	1.1850	+0.135%	$12K	$145K	12x	as long as short