Funding you earn now, next payment 09:00 UTC−0.0450%/8h= −49.2% APRnext payment −$0.56 per $10,000 · paid last 24h +0.031%
Price spread now: ApeX Omni against Kraken Futures+0.191%7-day average −0.067% · you sell dearer than you buy
Net, funding: paid 7d − costs−$156as in the Funding arb table
Net, price: spread back to 7d avg − costs−$112as in the Price arb table
costs, in and out, $10k−$1371.373% of the position
Funding, last 7 days−0.183%−$18 on $10k
+Price spread, last 4 days (all we have)+0.625%+$62 · spread now +0.191%, 7d avg −0.067%
=The price spread pays, funding is against you. ApeX Omni is 0.258% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.191% now, against its 7-day average of −0.067%): +$26 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 46 hours. At the pace of the last 7 days (−0.183% in total) that is about 9.9 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.183% in total (about -9.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.56 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 | Kraken Futures PF_ZROUSD | 1.1927 | 0.0550 | pay 0.0069% / 1h | 38m 42s | $271K | $318K | 25x |
| Short | ApeX Omni ZROUSDT | 1.1950 | 0.0100 | get 0.0013% / 1h | 38m 42s | $40K | $668K | 50x |
Kraken Futures PF_ZROUSD
ApeX Omni ZROUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
ApeX Omni against Kraken Futures. 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
- −$94.4
- Price spread: +0.191% → −0.067%
- $25.78
- Slippage, 4 orders
- −$117.31
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee ApeX Omni: 5 bp × 2 orders
- −$10
- Net
- −$205.92
- Costs to cover
- 1.373%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 59 min ago; ApeX Omni: live order book, 59 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 Kraken Futures live order book, 59 min ago | 39.04 bp | 44.0 bp −$44 | doesn't fit | doesn't fit | doesn't fit |
| Sell ApeX Omni live order book, 59 min ago | 12.88 bp | 22.6 bp −$23 | 134.4 bp −$1,344 | 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 | −0.0280% | 1h | 1.1932 | +0.042% | $4K | $5K | 5x | as long as short |
| dYdX ZRO-USD | 0.0000% | 1h | 1.1949 | +0.184% | $21K | $5K | 5x | as long as short |
| Orderly PERP_ZRO_USDC | +0.0073% | 4h | 1.1929 | +0.015% | $21K | $4K | 10x | as long as short |
| Lighter ZRO | +0.0096% | 1h | 1.1922 | −0.046% | $4.4M | $1.2M | 5x | as long as short |
| Hyperliquid ZRO | +0.0100% | 1h | 1.1925 | −0.018% | $37.8M | $5.3M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1923 | −0.039% | $161K | $151K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1909 | −0.154% | $137K | $170K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1908 | −0.163% | $22.4M | $29.6M | 75x | as long as short |
| Bybit ZROUSDT | +0.0100% | 4h | 1.1907 | −0.169% | $18.3M | $13.4M | 50x | as long as short |
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1911 | −0.136% | $3.2M | $8.0M | 20x | as long as short |
01 Exchange ZROUSD
dYdX ZRO-USD
Orderly PERP_ZRO_USDC
Lighter ZRO
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 | 1.1920 | −0.060% | $1.4M | $1.3M | 75x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1910 | −0.144% | $20.0M | $2.7M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1920 | −0.060% | $2.5M | $2.2M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1908 | −0.161% | $2.7M | $2.6M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1911 | −0.136% | — | $21.7M | — | as long as short |
| Variational Omni ZRO | +0.0100% | 4h | 1.1939 | +0.095% | $2.3M | $765K | — | as long as short |
| ApeX Omni ZROUSDTshort | +0.0100% | 1h | 1.1950 | +0.191% | $40K | $668K | 50x | |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1947 | +0.166% | $101K | $805K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1924 | −0.025% | $21K | — | 3x | as long as short |
| BloFin ZRO-USDT | +0.0152% | 4h | 1.1910 | −0.144% | $1.1M | $201K | 75x | as long as short |
| Nado ZRO-PERP | +0.0164% | 1h | 1.1940 | +0.106% | $1.4M | $130K | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0295% / S −0.2341% | 1h | 1.1930 | +0.022% | $3K | — | 100x | as long as short |
| Extended ZRO-USD | +0.0416% | 1h | 1.1913 | −0.123% | $815K | $647K | 10x | as long as short |
| Kraken Futures PF_ZROUSDlong | +0.0550% | 1h | 1.1927 | long leg | $271K | $318K | 25x | |
| Backpack ZRO_USDC_PERP | +0.0662% | 1h | 1.1918 | −0.077% | $96K | $222K | 20x | as long as short |
| Injective ZRO/USDC PERP | +0.1160% | 1h | 1.1990 | +0.527% | $13K | $258K | 12x | as long as short |
Gate ZRO_USDT
MEXC ZRO_USDT
KuCoin ZROUSDTM
Bitget ZROUSDT
BingX ZRO-USDT
Variational Omni ZRO
Polymarket Perps ZRO-USD
Aevo ZRO-PERP
BloFin ZRO-USDT
Nado ZRO-PERP
GMX ZRO/USD [ETH-USDC]
Extended ZRO-USD
Backpack ZRO_USDC_PERP
Injective ZRO/USDC PERP