Funding you earn now, next payment 22:00 UTC−0.0216%/8h= −23.7% APRpaid last 24h +0.160%
Price spread now: Binance against Kraken Futures−0.113%7-day average −0.089% · you buy dearer than you sell
Net, funding: paid 7d − costs−$121as in the Funding arb table
Net, price: spread back to 7d avg − costs−$109as in the Price arb table
costs, in and out, $10k−$1071.067% of the position
Funding, last 7 days−0.141%−$14 on $10k
+Price spread, last 3 days (all we have)+0.537%+$54 · spread now −0.113%, 7d avg −0.089%
=Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Binance is 0.024% cheaper against Kraken Futures than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.089%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.141% in total (about -7.3% 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 | Kraken Futures PF_ZROUSD | 1.1859 | 0.0316 | pay 0.0040% / 1h | 25m 36s | $251K | $572K | 25x |
| Short | Binance ZROUSDT | 1.1845 | 0.0100 | get 0.0050% / 4h | 2h 25m | $22.4M | $33.3M | 75x |
Kraken Futures PF_ZROUSD
Binance ZROUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance 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
- −$45.39
- Price spread: −0.113% → −0.089%
- −$2.36
- Slippage, 4 orders
- −$86.68
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$154.43
- Costs to cover
- 1.067%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 62 min ago; Binance: live order book, 1 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, 62 min ago | 22.42 bp | 44.6 bp −$45 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 1 min ago | 0.84 bp | 11.6 bp −$12 | 30.7 bp −$307 | 254.3 bp −$25.4K | 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 | −0.0432% | 1h | 1.1843 | −0.129% | $7K | $3K | 5x | as long as short |
| Orderly PERP_ZRO_USDC | −0.0060% | 4h | 1.1845 | −0.115% | $21K | $7K | 10x | as long as short |
| dYdX ZRO-USD | +0.0016% | 1h | 1.1851 | −0.069% | $21K | $2K | 5x | as long as short |
| OKX ZRO-USDT-SWAP | +0.0078% | 4h | 1.1842 | −0.141% | $3.2M | $9.0M | 20x | as long as short |
| Lighter ZRO | +0.0096% | 1h | 1.1852 | −0.056% | $4.6M | $1.3M | 5x | as long as short |
| Hyperliquid ZRO | +0.0100% | 1h | 1.1863 | +0.036% | $37.7M | $6.9M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1847 | −0.099% | $158K | $160K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1848 | −0.093% | $144K | $193K | 5x | as long as short |
| Binance ZROUSDTshort | +0.0100% | 4h | 1.1845 | −0.113% | $22.4M | $33.3M | 75x | |
| Bybit ZROUSDT | +0.0100% | 4h | 1.1840 | −0.157% | $18.2M | $15.7M | 50x | as long as short |
01 Exchange ZROUSD
Orderly PERP_ZRO_USDC
dYdX ZRO-USD
OKX ZRO-USDT-SWAP
Lighter ZRO
Hyperliquid ZRO
Aster ZROUSDT
Pacifica ZRO
Bybit ZROUSDTShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate ZRO_USDT | +0.0100% | 4h | 1.1840 | −0.157% | $1.3M | $2.0M | 75x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1847 | −0.098% | $19.1M | $3.5M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1855 | −0.031% | $3.0M | $1.8M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1852 | −0.056% | $2.8M | $2.5M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1844 | −0.124% | — | $10.9M | — | as long as short |
| Backpack ZRO_USDC_PERP | +0.0100% | 1h | 1.1857 | −0.014% | $93K | $204K | 20x | as long as short |
| Variational Omni ZRO | +0.0100% | 4h | 1.1835 | −0.196% | $2.3M | $860K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1820 | −0.326% | $37K | $680K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1844 | −0.124% | $87K | $922K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1840 | −0.161% | $21K | — | 3x | as long as short |
| BloFin ZRO-USDT | +0.0117% | 4h | 1.1830 | −0.242% | $1.1M | $266K | 75x | as long as short |
| Nado ZRO-PERP | +0.0153% | 1h | 1.1827 | −0.269% | $1.3M | $131K | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0292% / S −0.2341% | 1h | 1.1845 | −0.113% | $3K | — | 100x | as long as short |
| Kraken Futures PF_ZROUSDlong | +0.0316% | 1h | 1.1859 | long leg | $251K | $572K | 25x | |
| Injective ZRO/USDC PERP | +0.1237% | 1h | 1.1860 | +0.011% | $12K | $175K | 12x | as long as short |
| Extended ZRO-USD | +0.1240% | 1h | 1.1843 | −0.128% | $784K | $556K | 10x | as long as short |
Gate ZRO_USDT
MEXC ZRO_USDT
KuCoin ZROUSDTM
Bitget ZROUSDT
BingX ZRO-USDT
Backpack ZRO_USDC_PERP
Variational Omni ZRO
ApeX Omni ZROUSDT
Polymarket Perps ZRO-USD
Aevo ZRO-PERP
BloFin ZRO-USDT
Nado ZRO-PERP
GMX ZRO/USD [ETH-USDC]
Injective ZRO/USDC PERP
Extended ZRO-USD