Funding you earn now, next payment 07:00 UTC+0.0803%/8h= +88.0% APRnext payment +$1.00 per $10,000 · paid last 24h +0.222%
Price spread now: Injective against Kraken Futures+0.238%7-day average −0.085% · you sell dearer than you buy
Net, funding: paid 7d − costs−$185as in the Funding arb table
Net, price: spread back to 7d avg − costs−$120as in the Price arb table
costs, in and out, $10k−$1521.524% of the position
Funding, last 7 days−0.322%−$32 on $10k
+Price spread, last 4 days (all we have)−0.827%−$83 · spread now +0.238%, 7d avg −0.085%
=Both sides work for this trade now. Funding pays +$24 a day on $10k at the current rate, and Injective is 0.324% dearer against Kraken Futures than usual: you sell high and buy low: +$32 more if the spread goes back to its 7-day average of −0.085%. Mind the row above: over the last 7 days funding on this pair cost −0.322%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.322% in total (about -16.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.00 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 | 1.1702 | 0.0514 | pay 0.0064% / 1h | 7m 09s | $254K | $298K | 25x |
| Short | Injective ZRO/USDC PERP | 1.1730 | 0.1317 | get 0.0165% / 1h | 7m 09s | $12K | $261K | 12x |
Kraken Futures PF_ZROUSD
Injective ZRO/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- $168.68
- Price spread: +0.238% → −0.085%
- $32.36
- Slippage, 4 orders
- −$142.37
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $48.66
- Costs to cover
- 1.524%
- Break-even
- 5.0 days
Slippage from Kraken Futures: live order book, 36 min ago; Injective: live order book, 37 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, 36 min ago | 31.62 bp | 37.4 bp −$37 | doesn't fit | doesn't fit | doesn't fit |
| Sell Injective live order book, 37 min ago | 29.90 bp | 40.5 bp −$41 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX ZRO-USD | +0.0029% | 1h | 1.1664 | −0.328% | $21K | $5K | 5x | as long as short |
| BloFin ZRO-USDT | +0.0051% | 4h | 1.1675 | −0.232% | $1.0M | $202K | 75x | as long as short |
| 01 Exchange ZROUSD | +0.0072% | 1h | 1.1676 | −0.220% | $4K | $5K | 5x | as long as short |
| Orderly PERP_ZRO_USDC | +0.0093% | 4h | 1.1691 | −0.095% | $20K | $4K | 10x | as long as short |
| Lighter ZRO | +0.0096% | 1h | 1.1713 | +0.095% | $4.4M | $1.2M | 5x | as long as short |
| Hyperliquid ZRO | +0.0100% | 1h | 1.1695 | −0.061% | $37.1M | $5.4M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1691 | −0.098% | $158K | $149K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1664 | −0.322% | $137K | $171K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1691 | −0.097% | $21.9M | $29.0M | 75x | as long as short |
| Bybit ZROUSDT | +0.0100% | 4h | 1.1686 | −0.138% | $17.9M | $13.3M | 50x | as long as short |
dYdX ZRO-USD
BloFin ZRO-USDT
01 Exchange ZROUSD
Orderly PERP_ZRO_USDC
Lighter ZRO
Hyperliquid ZRO
Aster ZROUSDT
Pacifica ZRO
Binance ZROUSDT
Bybit 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 | 1.1693 | −0.078% | $3.2M | $7.7M | 20x | as long as short |
| Gate ZRO_USDT | +0.0100% | 4h | 1.1660 | −0.360% | $1.3M | $1.4M | 75x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1689 | −0.112% | $19.2M | $2.7M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1683 | −0.163% | $2.4M | $2.0M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1684 | −0.155% | $2.7M | $2.5M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1687 | −0.129% | — | $16.5M | — | as long as short |
| Variational Omni ZRO | +0.0100% | 4h | 1.1663 | −0.336% | $2.3M | $770K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1690 | −0.104% | $39K | $669K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1684 | −0.155% | $99K | $817K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1688 | −0.117% | $21K | — | 3x | as long as short |
| Backpack ZRO_USDC_PERP | +0.0222% | 1h | 1.1671 | −0.266% | $95K | $216K | 20x | as long as short |
| Nado ZRO-PERP | +0.0258% | 1h | 1.1684 | −0.152% | $1.3M | $128K | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0292% / S −0.2341% | 1h | 1.1692 | −0.082% | $3K | — | 100x | as long as short |
| Kraken Futures PF_ZROUSDlong | +0.0514% | 1h | 1.1702 | long leg | $254K | $298K | 25x | |
| Extended ZRO-USD | +0.0760% | 1h | 1.1692 | −0.084% | $800K | $631K | 10x | as long as short |
| Injective ZRO/USDC PERPshort | +0.1317% | 1h | 1.1730 | +0.238% | $12K | $261K | 12x |
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
Backpack ZRO_USDC_PERP
Nado ZRO-PERP
GMX ZRO/USD [ETH-USDC]
Extended ZRO-USD