Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.006%
Price spread now: Backpack against Pacifica−0.082%7-day average +0.007% · you buy dearer than you sell
Net, funding: paid 7d − costs−$62as in the Funding arb table
Net, price: spread back to 7d avg − costs−$57as in the Price arb table
costs, in and out, $10k−$480.483% of the position
Funding, last 7 days−0.136%−$14 on $10k
+Price spread, last 4 days (all we have)−0.020%−$2 · spread now −0.082%, 7d avg +0.007%
=Together, before fees−0.157%+ Points / potential airdropPacifica: Active · farm board−$16 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.089% cheaper against Pacifica than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.007%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Pacifica ZRO | 1.1692 | 0.0100 | pay 0.0013% / 1h | 31m 27s | $136K | $178K | 5x |
| Short | Backpack ZRO_USDC_PERP | 1.1682 | 0.0100 | get 0.0013% / 1h | 31m 27s | $97K | $219K | 20x |
Pacifica ZRO
Backpack ZRO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Pacifica. 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
- $0
- Price spread: −0.082% → +0.007%
- −$8.86
- Slippage, 4 orders
- −$30.32
- Fee Pacifica: 4 bp × 2 orders
- −$8
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$57.18
- Costs to cover
- 0.483%
- Break-even
- never at this rate
Slippage from Pacifica: live order book, 26 min ago; Backpack: live order book, 27 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 Pacifica live order book, 26 min ago | 5.16 bp | 15.3 bp −$15 | doesn't fit | doesn't fit | doesn't fit |
| Sell Backpack live order book, 27 min ago | 0.43 bp | 7.3 bp −$7 | 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 | +0.0014% | 1h | 1.1681 | −0.092% | $21K | $4K | 5x | as long as short |
| Orderly PERP_ZRO_USDC | +0.0037% | 4h | 1.1690 | −0.013% | $20K | $5K | 10x | as long as short |
| 01 Exchange ZROUSD | +0.0056% | 1h | 1.1699 | +0.063% | $7K | $3K | 5x | as long as short |
| BloFin ZRO-USDT | +0.0093% | 4h | 1.1671 | −0.176% | $1.1M | $248K | 75x | as long as short |
| Lighter ZRO | +0.0096% | 1h | 1.1706 | +0.121% | $4.4M | $1.2M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1688 | −0.029% | $157K | $150K | 10x | as long as short |
| Pacifica ZROlong | +0.0100% | 1h | 1.1692 | long leg | $136K | $178K | 5x | |
| Binance ZROUSDT | +0.0100% | 4h | 1.1689 | −0.025% | $21.9M | $29.8M | 75x | as long as short |
| Bybit ZROUSDT | +0.0100% | 4h | 1.1687 | −0.039% | $17.8M | $13.9M | 50x | as long as short |
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1691 | −0.005% | $3.2M | $7.9M | 20x | as long as short |
dYdX ZRO-USD
Orderly PERP_ZRO_USDC
01 Exchange ZROUSD
BloFin ZRO-USDT
Lighter ZRO
Aster ZROUSDT
Binance ZROUSDT
Bybit ZROUSDT
OKX ZRO-USDT-SWAPShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate ZRO_USDT | +0.0100% | 4h | 1.1680 | −0.099% | $1.3M | $1.5M | 75x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1690 | −0.013% | $19.2M | $2.7M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1677 | −0.124% | $2.4M | $2.0M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1685 | −0.056% | $2.7M | $2.6M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1689 | −0.022% | — | $16.5M | — | as long as short |
| Backpack ZRO_USDC_PERPshort | +0.0100% | 1h | 1.1682 | −0.082% | $97K | $219K | 20x | |
| Variational Omni ZRO | +0.0100% | 4h | 1.1568 | −1.053% | $2.2M | $811K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1650 | −0.355% | $39K | $672K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1698 | +0.055% | $99K | $858K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1670 | −0.182% | $21K | — | 3x | as long as short |
| Nado ZRO-PERP | +0.0175% | 1h | 1.1689 | −0.018% | $1.3M | $125K | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0292% / S −0.2341% | 1h | 1.1689 | −0.024% | $3K | — | 100x | as long as short |
| Kraken Futures PF_ZROUSD | +0.0381% | 1h | 1.1684 | −0.064% | $257K | $403K | 25x | as long as short |
| Hyperliquid ZRO | +0.0412% | 1h | 1.1708 | +0.141% | $37.1M | $5.5M | 5x | as long as short |
| Injective ZRO/USDC PERP | +0.1186% | 1h | 1.1700 | +0.072% | $12K | $260K | 12x | as long as short |
| Extended ZRO-USD | +0.1232% | 1h | 1.1692 | +0.005% | $780K | $590K | 10x | as long as short |
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
Nado ZRO-PERP
GMX ZRO/USD [ETH-USDC]
Kraken Futures PF_ZROUSD
Hyperliquid ZRO
Injective ZRO/USDC PERP
Extended ZRO-USD