Funding you earn now, next payment 00:00 UTC−0.0012%/8h= −1.3% APRnext payment −$0.06 per $10,000 · paid last 24h +0.036%
Price spread now: Bybit against Orderly−0.128%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 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
Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Bybit is 0.128% cheaper against Orderly than usual: you would sell low and buy high (−$13 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_ZRO_USDC | 1.1749 | −0.0039 | get 0.0019% / 4h | 2h 50m | $21K | $7K | 10x |
| Short | Bybit ZROUSDT | 1.1734 | −0.0051 | pay 0.0025% / 4h | 2h 50m | $18.0M | $16.3M | 50x |
Orderly PERP_ZRO_USDC
Bybit ZROUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Orderly. 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
- −$2.47
- Price spread: −0.128% → 0.000%
- −$12.77
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$32.24
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; Bybit: live order book, 3 min ago. 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Bybit live order book, 3 min ago | 0.43 bp | 16.0 bp −$16 | 38.5 bp −$385 | doesn't fit | doesn't fit |
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 | −0.0224% | 1h | 1.1730 | −0.163% | $7K | $3K | 5x | as long as short |
| Bybit ZROUSDTshort | −0.0051% | 4h | 1.1734 | −0.128% | $18.0M | $16.3M | 50x | |
| Orderly PERP_ZRO_USDClong | −0.0039% | 4h | 1.1749 | long leg | $21K | $7K | 10x | |
| OKX ZRO-USDT-SWAP | −0.0004% | 4h | 1.1749 | 0.000% | $3.2M | $9.2M | 20x | as long as short |
| dYdX ZRO-USD | 0.0000% | 1h | 1.1747 | −0.013% | $21K | $2K | 5x | as long as short |
| Lighter ZRO | +0.0096% | 1h | 1.1758 | +0.079% | $4.6M | $1.2M | 5x | as long as short |
| Variational Omni ZRO | +0.0100% | 4h | 1.1715 | −0.289% | $2.2M | $893K | — | as long as short |
| Hyperliquid ZRO | +0.0100% | 1h | 1.1764 | +0.128% | $37.4M | $7.1M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1756 | +0.063% | $157K | $162K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1747 | −0.019% | $143K | $201K | 5x | as long as short |
01 Exchange ZROUSD
OKX ZRO-USDT-SWAP
dYdX ZRO-USD
Lighter ZRO
Variational Omni ZRO
Hyperliquid ZRO
Aster ZROUSDT
Pacifica ZROShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance ZROUSDT | +0.0100% | 4h | 1.1744 | −0.042% | $22.2M | $34.4M | 75x | as long as short |
| Gate ZRO_USDT | +0.0100% | 4h | 1.1730 | −0.162% | $1.3M | $2.0M | 75x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1743 | −0.051% | $19.0M | $3.5M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1741 | −0.068% | $2.6M | $1.5M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1740 | −0.077% | $2.7M | $2.5M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1744 | −0.043% | — | $10.9M | — | as long as short |
| Backpack ZRO_USDC_PERP | +0.0100% | 1h | 1.1745 | −0.034% | $92K | $209K | 20x | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1770 | +0.179% | $37K | $680K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1755 | +0.051% | $86K | $1.0M | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1758 | +0.077% | $21K | — | 3x | as long as short |
| BloFin ZRO-USDT | +0.0157% | 4h | 1.1738 | −0.094% | $1.1M | $264K | 75x | as long as short |
| Nado ZRO-PERP | +0.0227% | 1h | 1.1746 | −0.022% | $1.3M | $131K | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0291% / S −0.2341% | 1h | 1.1753 | +0.030% | $3K | — | 100x | as long as short |
| Kraken Futures PF_ZROUSD | +0.0319% | 1h | 1.1750 | +0.007% | $249K | $575K | 25x | as long as short |
| Extended ZRO-USD | +0.0736% | 1h | 1.1744 | −0.047% | $780K | $560K | 10x | as long as short |
| Injective ZRO/USDC PERP | +0.1237% | 1h | 1.1790 | +0.349% | $12K | $145K | 12x | as long as short |
Binance ZROUSDT
Gate ZRO_USDT
MEXC ZRO_USDT
KuCoin ZROUSDTM
Bitget ZROUSDT
BingX ZRO-USDT
Backpack ZRO_USDC_PERP
ApeX Omni ZROUSDT
Polymarket Perps ZRO-USD
Aevo ZRO-PERP
BloFin ZRO-USDT
Nado ZRO-PERP
GMX ZRO/USD [ETH-USDC]
Kraken Futures PF_ZROUSD
Extended ZRO-USD
Injective ZRO/USDC PERP