Funding you earn now, next payment 01:00 UTC−0.0888%/8h= −97.3% APRnext payment −$1.11 per $10,000 · paid last 24h −0.269%
Price spread now: Kraken Futures against Injective+0.313%63s7-day average +0.098% · you sell dearer than you buy
Net, funding: paid 7d − costs−$123as 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−$1611.607% of the position
Funding, last 7 days+0.379%+$38 on $10k
+Price spread, last 3 days (all we have)+0.229%+$23 · spread now +0.313%, 7d avg +0.098%
=The price spread pays, funding is against you. Kraken Futures is 0.215% dearer against Injective than usual: you sell high and buy low (spread +0.313% now, against its 7-day average of +0.098%): +$22 on $10k if it goes back. Holding the pair costs −$27 a day in funding at the current rate, which eats that in about 19 hours. Mind the row above: over the last 7 days funding on this pair paid +0.379%, so the current rate has only just turned against you. The two prices were read 63 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 0.379% in total (about 19.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.11 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 | Injective ZRO/USDC PERP | 1.1760 | 0.1190 | pay 0.0149% / 1h | 57m 42s | $12K | $260K | 12x |
| Short | Kraken Futures PF_ZROUSD | 1.1797 | 0.0301 | get 0.0038% / 1h | 57m 42s | $253K | $414K | 25x |
Injective ZRO/USDC PERP
Kraken Futures PF_ZROUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures 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
- −$186.54
- Price spread: +0.313% → +0.098%
- $21.51
- Slippage, 4 orders
- −$150.66
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$325.72
- Costs to cover
- 1.607%
- Break-even
- never at this rate
Slippage from Injective: live order book, 16 min ago; Kraken Futures: live order book, 15 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, 16 min ago | 34.04 bp | 34.1 bp −$34 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 15 min ago | 26.80 bp | 42.6 bp −$43 | 133.8 bp −$1,338 | 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 | −0.0344% | 1h | 1.1784 | +0.208% | $7K | $3K | 5x | as long as short |
| Bybit ZROUSDT | −0.0103% | 4h | 1.1766 | +0.051% | $18.0M | $14.3M | 50x | as long as short |
| dYdX ZRO-USD | 0.0000% | 1h | 1.1782 | +0.191% | $21K | $3K | 5x | as long as short |
| Orderly PERP_ZRO_USDC | +0.0011% | 4h | 1.1780 | +0.170% | $21K | $7K | 10x | as long as short |
| BloFin ZRO-USDT | +0.0083% | 4h | 1.1782 | +0.187% | $1.1M | $256K | 75x | as long as short |
| Lighter ZRO | +0.0096% | 1h | 1.1783 | +0.195% | $4.4M | $1.5M | 5x | as long as short |
| Hyperliquid ZRO | +0.0100% | 1h | 1.1782 | +0.187% | $37.3M | $6.1M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1795 | +0.297% | $158K | $149K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1775 | +0.128% | $136K | $172K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1771 | +0.094% | $22.1M | $30.7M | 75x | as long as short |
01 Exchange ZROUSD
Bybit ZROUSDT
dYdX ZRO-USD
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 | 1.1777 | +0.145% | $3.2M | $8.1M | 20x | as long as short |
| Gate ZRO_USDT | +0.0100% | 4h | 1.1780 | +0.170% | $1.4M | $1.5M | 75x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1778 | +0.153% | $19.1M | $2.7M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1773 | +0.111% | $2.4M | $1.9M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1783 | +0.196% | $2.7M | $2.4M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1782 | +0.187% | — | $10.7M | — | as long as short |
| Variational Omni ZRO | +0.0100% | 4h | 1.1767 | +0.063% | $2.3M | $879K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1780 | +0.170% | $37K | $687K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1785 | +0.213% | $91K | $830K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1775 | +0.128% | $21K | — | 3x | as long as short |
| Nado ZRO-PERP | +0.0205% | 1h | 1.1778 | +0.155% | $1.3M | $123K | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0292% / S −0.2341% | 1h | 1.1789 | +0.247% | $3K | — | 100x | as long as short |
| Kraken Futures PF_ZROUSDshort | +0.0301% | 1h | 1.1797 | +0.313% | $253K | $414K | 25x | |
| Backpack ZRO_USDC_PERP | +0.0457% | 1h | 1.1793 | +0.281% | $98K | $204K | 20x | as long as short |
| Injective ZRO/USDC PERPlong | +0.1190% | 1h | 1.1760 | long leg | $12K | $260K | 12x | |
| Extended ZRO-USD | +0.1632% | 1h | 1.1784 | +0.202% | $784K | $589K | 10x | as long as short |
OKX ZRO-USDT-SWAP
Gate ZRO_USDT
MEXC ZRO_USDT
KuCoin ZROUSDTM
Bitget ZROUSDT
BingX ZRO-USDT
Variational Omni ZRO
ApeX Omni ZROUSDT
Polymarket Perps ZRO-USD
Aevo ZRO-PERP
Nado ZRO-PERP
GMX ZRO/USD [ETH-USDC]
Backpack ZRO_USDC_PERP
Extended ZRO-USD