Funding arb · Price arb /

ZRO

all ZRO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.2241%/8h= +245.4% APRpaid last 24h +0.808%

Price spread now: GMX against KuCoin−0.025%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on KuCoin Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. GMX is 0.025% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.025% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about under an hour of funding at the current rate (+$67 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ZROUSDTM	1.1730	0.0100	pay 0.0050% / 4h	1h 28m	$2.2M	$2.3M	50x
Short	GMX ZRO/USD [ETH-USDC]	1.1727	L +0.0292% / S −0.2341%	get 0.0293% / 1h	28m 54s	$3K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against KuCoin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee KuCoinbpFee GMXbpOrdersPrice spread, now −0.025%Rate

Funding earned: $470.65
Price spread: −0.025% → 0.000%: −$2.48
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $444.17
Costs to cover: 0.240%
Break-even: 0.4 days

Slippage unknown: KuCoin: live order book, 11 min ago; GMX: no order-book sample. Net counts fees only.

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 KuCoin live order book, 11 min ago	3.82 bp	52.0 bp −$52	119.3 bp −$1,193	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

ZRO on 26 exchanges

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
Injective ZRO/USDC PERP	−0.0774%	1h	1.1760	+0.256%	$12K	$257K	12x	as long as short
Kraken Futures PF_ZROUSD	−0.0534%	1h	1.1726	−0.034%	$267K	$197K	25x	as long as short
01 Exchange ZROUSD	−0.0192%	1h	1.1726	−0.032%	$4K	$5K	5x	as long as short
Orderly PERP_ZRO_USDC	−0.0028%	4h	1.1724	−0.051%	$20K	$2K	10x	as long as short
Bybit ZROUSDT	−0.0016%	4h	1.1714	−0.136%	$18.0M	$11.5M	50x	as long as short
dYdX ZRO-USD	0.0000%	1h	1.1726	−0.037%	$21K	$5K	5x	as long as short
OKX ZRO-USDT-SWAP	+0.0006%	4h	1.1722	−0.068%	$3.2M	$7.3M	20x	as long as short
Variational Omni ZRO	+0.0066%	4h	1.1696	−0.288%	$2.3M	$735K	—	as long as short
Lighter ZRO	+0.0096%	1h	1.1738	+0.066%	$4.4M	$1.1M	5x	as long as short
Hyperliquid ZRO	+0.0100%	1h	1.1738	+0.068%	$37.1M	$5.0M	5x	as long as short

Show all 26 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ZROUSDT	+0.0100%	4h	1.1732	+0.021%	$158K	$119K	10x	as long as short
Pacifica ZRO	+0.0100%	1h	1.1724	−0.051%	$136K	$141K	5x	as long as short
Binance ZROUSDT	+0.0100%	4h	1.1718	−0.106%	$21.9M	$26.3M	75x	as long as short
Gate ZRO_USDT	+0.0100%	4h	1.1730	0.000%	$1.3M	$1.1M	75x	as long as short
MEXC ZRO_USDT	+0.0100%	4h	1.1718	−0.102%	$9.4M	$2.5M	125x	as long as short
KuCoin ZROUSDTMlong	+0.0100%	4h	1.1730	long leg	$2.2M	$2.3M	50x
Bitget ZROUSDT	+0.0100%	4h	1.1724	−0.051%	$2.8M	$2.3M	75x	as long as short
BingX ZRO-USDT	+0.0100%	4h	1.1720	−0.085%	—	$25.2M	—	as long as short
ApeX Omni ZROUSDT	+0.0100%	1h	1.1720	−0.085%	$39K	$670K	50x	as long as short
Polymarket Perps ZRO-USD	+0.0100%	1h	1.1727	−0.026%	$80K	$743K	5x	as long as short
Backpack ZRO_USDC_PERP	+0.0103%	1h	1.1728	−0.017%	$93K	$217K	20x	as long as short
Aevo ZRO-PERP	+0.0104%	1h	1.1720	−0.085%	$21K	—	3x	as long as short
BloFin ZRO-USDT	+0.0104%	4h	1.1713	−0.145%	$1.0M	$142K	75x	as long as short
Nado ZRO-PERP	+0.0140%	1h	1.1729	−0.005%	$1.3M	$121K	5x	as long as short
GMX ZRO/USD [ETH-USDC]short	L +0.0292% / S −0.2341%	1h	1.1727	−0.025%	$3K	—	100x
Extended ZRO-USD	+0.0536%	1h	1.1720	−0.083%	$798K	$654K	10x	as long as short