Funding arb · Price arb /

ZRO

all ZRO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0234%/8h= −25.7% APRpaid last 24h −0.055%

Price spread now: Orderly against Nado+0.043%7-day average — · you sell dearer than you buy

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

Long on Nado Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropNado: Active · farm boardneeds both histories

The price spread pays, funding is against you. Orderly is 0.043% dearer against Nado than usual: you sell high and buy low (spread +0.043% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 15 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado ZRO-PERP	1.1817	0.0179	pay 0.0022% / 1h	1m 48s	$1.3M	$130K	5x
Short	Orderly PERP_ZRO_USDC	1.1822	−0.0055	pay 0.0027% / 4h	2h 01m	$21K	$7K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Nado. 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 NadobpFee OrderlybpOrdersPrice spread, now +0.043%Rate

Funding earned: −$49.2
Price spread: +0.043% → 0.000%: $4.25
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$57.95
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Nado: live order book, 2 min ago; Orderly: 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 Nado live order book, 2 min ago	1.27 bp	11.8 bp −$12	43.1 bp −$431	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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 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	1.1814	−0.028%	$7K	$3K	5x	as long as short
Orderly PERP_ZRO_USDCshort	−0.0055%	4h	1.1822	+0.043%	$21K	$7K	10x
dYdX ZRO-USD	+0.0077%	1h	1.1824	+0.061%	$21K	$2K	5x	as long as short
BloFin ZRO-USDT	+0.0090%	4h	1.1814	−0.025%	$1.1M	$264K	75x	as long as short
Lighter ZRO	+0.0096%	1h	1.1817	−0.001%	$4.5M	$1.4M	5x	as long as short
Hyperliquid ZRO	+0.0100%	1h	1.1826	+0.076%	$37.5M	$6.4M	5x	as long as short
Aster ZROUSDT	+0.0100%	4h	1.1826	+0.078%	$158K	$160K	10x	as long as short
Pacifica ZRO	+0.0100%	1h	1.1813	−0.034%	$138K	$191K	5x	as long as short
Binance ZROUSDT	+0.0100%	4h	1.1807	−0.084%	$22.2M	$32.6M	75x	as long as short
Bybit ZROUSDT	+0.0100%	4h	1.1807	−0.084%	$18.1M	$15.3M	50x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ZRO-USDT-SWAP	+0.0100%	4h	1.1803	−0.118%	$3.2M	$8.9M	20x	as long as short
Gate ZRO_USDT	+0.0100%	4h	1.1820	+0.026%	$1.3M	$2.0M	75x	as long as short
MEXC ZRO_USDT	+0.0100%	4h	1.1815	−0.017%	$19.1M	$3.5M	125x	as long as short
KuCoin ZROUSDTM	+0.0100%	4h	1.1828	+0.093%	$2.9M	$1.8M	50x	as long as short
Bitget ZROUSDT	+0.0100%	4h	1.1808	−0.076%	$2.7M	$2.5M	75x	as long as short
BingX ZRO-USDT	+0.0100%	4h	1.1813	−0.034%	—	$10.9M	—	as long as short
Backpack ZRO_USDC_PERP	+0.0100%	1h	1.1826	+0.076%	$95K	$206K	20x	as long as short
Variational Omni ZRO	+0.0100%	4h	1.1792	−0.212%	$2.2M	$859K	—	as long as short
ApeX Omni ZROUSDT	+0.0100%	1h	1.1820	+0.026%	$37K	$682K	50x	as long as short
Polymarket Perps ZRO-USD	+0.0100%	1h	1.1827	+0.085%	$88K	$913K	5x	as long as short
Aevo ZRO-PERP	+0.0104%	1h	1.1829	+0.100%	$21K	—	3x	as long as short
Nado ZRO-PERPlong	+0.0179%	1h	1.1817	long leg	$1.3M	$130K	5x
GMX ZRO/USD [ETH-USDC]	L +0.0292% / S −0.2341%	1h	1.1830	+0.111%	$3K	—	100x	as long as short
Kraken Futures PF_ZROUSD	+0.0317%	1h	1.1831	+0.121%	$251K	$566K	25x	as long as short
Injective ZRO/USDC PERP	+0.1237%	1h	1.1850	+0.279%	$12K	$175K	12x	as long as short
Extended ZRO-USD	+0.2344%	1h	1.1813	−0.038%	$784K	$539K	10x	as long as short