Funding you earn now, next payment 01:00 UTC−0.0200%/8h= −21.9% APRpaid last 24h +0.163%
Price spread now: Bybit against Kraken Futures−0.080%7-day average −0.134% · you buy dearer than you sell
Net, funding: paid 7d − costs−$129as in the Funding arb table
Net, price: spread back to 7d avg − costs−$109as in the Price arb table
costs, in and out, $10k−$1141.142% of the position
Funding, last 7 days−0.144%−$14 on $10k
+Price spread, last 3 days (all we have)+0.137%+$14 · spread now −0.080%, 7d avg −0.134%
=The price spread pays, funding is against you. Bybit is 0.053% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.080% now, against its 7-day average of −0.134%): +$5 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 21 hours. At the pace of the last 7 days (−0.144% in total) that is about 2.6 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_ZROUSD | 1.1864 | 0.0300 | pay 0.0037% / 1h | 12m 45s | $254K | $409K | 25x |
| Short | Bybit ZROUSDT | 1.1854 | 0.0100 | get 0.0050% / 4h | 3h 12m | $18.1M | $14.0M | 50x |
Kraken Futures PF_ZROUSD
Bybit ZROUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- −$41.91
- Price spread: −0.080% → −0.134%
- $5.34
- Slippage, 4 orders
- −$93.19
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$150.77
- Costs to cover
- 1.142%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 60 min ago; Bybit: 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, 60 min ago | 26.80 bp | 39.5 bp −$39 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 1 min ago | 1.27 bp | 17.8 bp −$18 | 46.7 bp −$467 | 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 | −0.0096% | 1h | 1.1844 | −0.164% | $7K | $3K | 5x | as long as short |
| Orderly PERP_ZRO_USDC | +0.0012% | 4h | 1.1855 | −0.072% | $21K | $6K | 10x | as long as short |
| Lighter ZRO | +0.0096% | 1h | 1.1870 | +0.052% | $4.4M | $1.5M | 5x | as long as short |
| Hyperliquid ZRO | +0.0100% | 1h | 1.1873 | +0.080% | $37.6M | $5.7M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1866 | +0.024% | $159K | $149K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1860 | −0.032% | $137K | $168K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1860 | −0.030% | $22.3M | $30.1M | 75x | as long as short |
| Bybit ZROUSDTshort | +0.0100% | 4h | 1.1854 | −0.080% | $18.1M | $14.0M | 50x | |
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1864 | +0.004% | $3.2M | $8.1M | 20x | as long as short |
| Gate ZRO_USDT | +0.0100% | 4h | 1.1860 | −0.030% | $1.4M | $1.5M | 75x | as long as short |
01 Exchange ZROUSD
Orderly PERP_ZRO_USDC
Lighter ZRO
Hyperliquid ZRO
Aster ZROUSDT
Pacifica ZRO
Binance ZROUSDT
OKX ZRO-USDT-SWAP
Gate ZRO_USDTShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1858 | −0.046% | $19.3M | $2.7M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1860 | −0.030% | $2.4M | $1.9M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1859 | −0.038% | $2.7M | $2.4M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1861 | −0.021% | — | $15.8M | — | as long as short |
| Variational Omni ZRO | +0.0100% | 4h | 1.1818 | −0.382% | $2.3M | $853K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1850 | −0.114% | $37K | $688K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1862 | −0.013% | $92K | $824K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1852 | −0.097% | $21K | — | 3x | as long as short |
| BloFin ZRO-USDT | +0.0114% | 4h | 1.1851 | −0.105% | $1.1M | $255K | 75x | as long as short |
| dYdX ZRO-USD | +0.0213% | 1h | 1.1856 | −0.067% | $21K | $3K | 5x | as long as short |
| Nado ZRO-PERP | +0.0288% | 1h | 1.1851 | −0.106% | $1.4M | $127K | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0292% / S −0.2341% | 1h | 1.1859 | −0.037% | $3K | — | 100x | as long as short |
| Kraken Futures PF_ZROUSDlong | +0.0300% | 1h | 1.1864 | long leg | $254K | $409K | 25x | |
| Backpack ZRO_USDC_PERP | +0.0426% | 1h | 1.1868 | +0.038% | $98K | $205K | 20x | as long as short |
| Injective ZRO/USDC PERP | +0.1190% | 1h | 1.1910 | +0.392% | $12K | $260K | 12x | as long as short |
| Extended ZRO-USD | +0.1240% | 1h | 1.1859 | −0.038% | $788K | $589K | 10x | as long as short |
MEXC ZRO_USDT
KuCoin ZROUSDTM
Bitget ZROUSDT
BingX ZRO-USDT
Variational Omni ZRO
ApeX Omni ZROUSDT
Polymarket Perps ZRO-USD
Aevo ZRO-PERP
BloFin ZRO-USDT
dYdX ZRO-USD
Nado ZRO-PERP
GMX ZRO/USD [ETH-USDC]
Backpack ZRO_USDC_PERP
Injective ZRO/USDC PERP
Extended ZRO-USD