Funding you earn now, next payment 00:00 UTC+0.0324%/8h= +35.5% APRnext payment +$0.40 per $10,000 · paid last 24h +0.044%
Price spread now: Backpack against 01 Exchange+0.278%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
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—needs both histories
Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Backpack is 0.278% dearer against 01 Exchange than usual: you sell high and buy low: +$28 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | 01 Exchange ZROUSD | 1.1708 | −0.0224 | get 0.0028% / 1h | 11m 34s | $7K | $3K | 5x |
| Short | Backpack ZRO_USDC_PERP | 1.1741 | 0.0100 | get 0.0013% / 1h | 11m 34s | $97K | $207K | 20x |
01 Exchange ZROUSD
Backpack ZRO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against 01 Exchange. 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
- $68.04
- Price spread: +0.278% → 0.000%
- $27.84
- Slippage, 4 orders
- no order book: not counted
- Fee 01 Exchange: 3.5 bp × 2 orders
- −$7
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $78.88
- Costs to cover
- 0.170%
- Break-even
- from the start
Slippage unknown: 01 Exchange: no order-book sample; Backpack: live order book, 2 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 01 Exchange no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 2 min ago | 0.43 bp | 6.4 bp −$6 | doesn't fit | doesn't fit | doesn't fit |
01 Exchange: 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 ZROUSDlong | −0.0224% | 1h | 1.1708 | long leg | $7K | $3K | 5x | |
| Orderly PERP_ZRO_USDC | +0.0011% | 4h | 1.1736 | +0.236% | $21K | $7K | 10x | as long as short |
| Lighter ZRO | +0.0096% | 1h | 1.1749 | +0.351% | $4.4M | $1.5M | 5x | as long as short |
| dYdX ZRO-USD | +0.0097% | 1h | 1.1754 | +0.389% | $21K | $2K | 5x | as long as short |
| Hyperliquid ZRO | +0.0100% | 1h | 1.1733 | +0.210% | $37.2M | $6.2M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1751 | +0.365% | $157K | $153K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1735 | +0.227% | $136K | $175K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1721 | +0.108% | $22.0M | $30.8M | 75x | as long as short |
| Bybit ZROUSDT | +0.0100% | 4h | 1.1718 | +0.082% | $17.9M | $14.4M | 50x | as long as short |
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1726 | +0.150% | $3.2M | $8.1M | 20x | as long as short |
Orderly PERP_ZRO_USDC
Lighter ZRO
dYdX ZRO-USD
Hyperliquid ZRO
Aster ZROUSDT
Pacifica ZRO
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 | 1.1730 | +0.184% | $1.3M | $1.8M | 75x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1741 | +0.278% | $19.1M | $2.8M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1735 | +0.227% | $2.4M | $1.9M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1724 | +0.133% | $2.7M | $2.4M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1730 | +0.184% | — | $10.7M | — | as long as short |
| Backpack ZRO_USDC_PERPshort | +0.0100% | 1h | 1.1741 | +0.278% | $97K | $207K | 20x | |
| Variational Omni ZRO | +0.0100% | 4h | 1.1751 | +0.362% | $2.3M | $879K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1730 | +0.184% | $37K | $687K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1731 | +0.193% | $93K | $823K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1749 | +0.343% | $21K | — | 3x | as long as short |
| BloFin ZRO-USDT | +0.0126% | 4h | 1.1739 | +0.261% | $1.1M | $255K | 75x | as long as short |
| Kraken Futures PF_ZROUSD | +0.0133% | 1h | 1.1753 | +0.381% | $252K | $419K | 25x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0291% / S −0.2341% | 1h | 1.1743 | +0.294% | $3K | — | 100x | as long as short |
| Nado ZRO-PERP | +0.0317% | 1h | 1.1729 | +0.173% | $1.3M | $124K | 5x | as long as short |
| Injective ZRO/USDC PERP | +0.1159% | 1h | 1.1790 | +0.697% | $12K | $260K | 12x | as long as short |
| Extended ZRO-USD | +0.1984% | 1h | 1.1727 | +0.159% | $784K | $589K | 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
BloFin ZRO-USDT
Kraken Futures PF_ZROUSD
GMX ZRO/USD [ETH-USDC]
Nado ZRO-PERP
Injective ZRO/USDC PERP
Extended ZRO-USD