Funding you earn now, next payment 01:00 UTC−0.1090%/8h= −119.3% APRpaid last 24h −0.116%
Price spread now: Bybit against Injective−0.289%98s7-day average −0.031% · you buy dearer than you sell
Net, funding: paid 7d − costs−$85as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$1081.081% of the position
Funding, last 7 days+0.230%+$23 on $10k
+Price spread, last 3 days (all we have)+0.935%+$93 · spread now −0.289%, 7d avg −0.031%
=Both sides work against this trade now: funding costs −$33 a day on $10k at the current rate, and Bybit is 0.257% cheaper against Injective than usual: you would sell low and buy high (−$26 if the spread goes back to its 7-day average of −0.031%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.230%, so the current rate has only just turned against you. The two prices were read 98 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.230% in total (about 12.0% a year). A funding rate is set anew for every payment. 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 | Injective ZRO/USDC PERP | 1.1780 | 0.1190 | pay 0.0149% / 1h | 41m 45s | $12K | $260K | 12x |
| Short | Bybit ZROUSDT | 1.1746 | 0.0100 | get 0.0050% / 4h | 3h 41m | $18.0M | $14.2M | 50x |
Injective ZRO/USDC PERP
Bybit ZROUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Injective. 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
- −$228.81
- Price spread: −0.289% → −0.031%
- −$25.73
- Slippage, 4 orders
- −$97.07
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$362.63
- Costs to cover
- 1.081%
- Break-even
- never at this rate
Slippage from Injective: live order book, 32 min ago; Bybit: live order book, 2 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 Injective live order book, 32 min ago | 34.04 bp | 34.1 bp −$34 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 2 min ago | 0.85 bp | 13.3 bp −$13 | 40.6 bp −$406 | 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 | −0.0136% | 1h | 1.1759 | −0.181% | $7K | $3K | 5x | as long as short |
| Gate ZRO_USDT | −0.0046% | 4h | 1.1750 | −0.255% | $1.4M | $1.5M | 75x | as long as short |
| Orderly PERP_ZRO_USDC | +0.0012% | 4h | 1.1764 | −0.136% | $21K | $6K | 10x | as long as short |
| BloFin ZRO-USDT | +0.0070% | 4h | 1.1752 | −0.238% | $1.1M | $256K | 75x | as long as short |
| Lighter ZRO | +0.0096% | 1h | 1.1758 | −0.186% | $4.4M | $1.5M | 5x | as long as short |
| Hyperliquid ZRO | +0.0100% | 1h | 1.1769 | −0.093% | $37.3M | $5.9M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1766 | −0.117% | $157K | $149K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1756 | −0.207% | $136K | $171K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1743 | −0.316% | $22.1M | $30.4M | 75x | as long as short |
| Bybit ZROUSDTshort | +0.0100% | 4h | 1.1746 | −0.289% | $18.0M | $14.2M | 50x |
01 Exchange ZROUSD
Gate ZRO_USDT
Orderly PERP_ZRO_USDC
BloFin ZRO-USDT
Lighter ZRO
Hyperliquid ZRO
Aster ZROUSDT
Pacifica ZRO
Binance ZROUSDTShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1752 | −0.238% | $3.2M | $8.0M | 20x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1758 | −0.187% | $19.1M | $2.7M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1749 | −0.263% | $2.4M | $1.9M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1752 | −0.238% | $2.7M | $2.4M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1756 | −0.204% | — | $14.7M | — | as long as short |
| Variational Omni ZRO | +0.0100% | 4h | 1.1735 | −0.385% | $2.3M | $869K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1740 | −0.340% | $37K | $688K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1768 | −0.102% | $91K | $830K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1760 | −0.170% | $21K | — | 3x | as long as short |
| dYdX ZRO-USD | +0.0182% | 1h | 1.1754 | −0.220% | $21K | $3K | 5x | as long as short |
| Nado ZRO-PERP | +0.0242% | 1h | 1.1756 | −0.200% | $1.3M | $129K | 5x | as long as short |
| Backpack ZRO_USDC_PERP | +0.0282% | 1h | 1.1769 | −0.093% | $99K | $206K | 20x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0291% / S −0.2341% | 1h | 1.1764 | −0.136% | $3K | — | 100x | as long as short |
| Kraken Futures PF_ZROUSD | +0.0302% | 1h | 1.1772 | −0.066% | $252K | $411K | 25x | as long as short |
| Injective ZRO/USDC PERPlong | +0.1190% | 1h | 1.1780 | long leg | $12K | $260K | 12x | |
| Extended ZRO-USD | +0.1384% | 1h | 1.1749 | −0.266% | $780K | $589K | 10x | as long as short |
OKX ZRO-USDT-SWAP
MEXC ZRO_USDT
KuCoin ZROUSDTM
Bitget ZROUSDT
BingX ZRO-USDT
Variational Omni ZRO
ApeX Omni ZROUSDT
Polymarket Perps ZRO-USD
Aevo ZRO-PERP
dYdX ZRO-USD
Nado ZRO-PERP
Backpack ZRO_USDC_PERP
GMX ZRO/USD [ETH-USDC]
Kraken Futures PF_ZROUSD
Extended ZRO-USD