Funding arb · Price arb /

ZRX

all ZRX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Binance against OKX+0.159%7-day average +0.048% · you sell dearer than you buy

Net, funding: paid 7d − costs−$134as in the Funding arb table

Net, price: spread back to 7d avg − costs−$126as in the Price arb table

costs, in and out, $10k−$1371.371% of the position

Long on OKX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.032%+$3 on $10k

Price spread, last 4 days (all we have)−0.136%−$14 · spread now +0.159%, 7d avg +0.048%

Together, before fees−0.104%−$10 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: Binance is 0.111% dearer against OKX than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of +0.048%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ZRX-USDT-SWAP	0.1212	0.0100	pay 0.0050% / 4h	2h 27m	$534K	$314K	20x
Short	Binance ZRXUSDT	0.1214	0.0100	get 0.0050% / 4h	2h 27m	$1.8M	$1.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against OKX. 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 OKXbpFee BinancebpOrdersPrice spread, now +0.159%Rate

Funding earned: $0
Price spread: +0.159% → +0.048%: $11.14
Slippage, 4 orders: −$117.09
Fee OKX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$125.95
Costs to cover: 1.371%
Break-even: never at this rate

Slippage from OKX: live order book, 38 min ago; Binance: live order book, 6 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 OKX live order book, 38 min ago	4.55 bp	34.5 bp −$34	5199.2 bp −$52.0K	doesn't fit	doesn't fit
Sell Binance live order book, 6 min ago	8.26 bp	32.1 bp −$32	85.4 bp −$854	doesn't fit	doesn't fit

ZRX on 10 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
Binance ZRXUSDTshort	+0.0100%	4h	0.1214	+0.159%	$1.8M	$1.3M	50x
Bybit ZRXUSDT	+0.0100%	8h	0.1213	+0.091%	$1.4M	$373K	25x	as long as short
OKX ZRX-USDT-SWAPlong	+0.0100%	4h	0.1212	long leg	$534K	$314K	20x
Gate ZRX_USDT	+0.0100%	8h	0.1211	−0.091%	$145K	$45K	75x	as long as short
MEXC ZRX_USDT	+0.0100%	4h	0.1214	+0.182%	$932K	$172K	50x	as long as short
KuCoin ZRXUSDTM	+0.0100%	4h	0.1210	−0.149%	$326K	$47K	30x	as long as short
Bitget ZRXUSDT	+0.0100%	4h	0.1212	+0.017%	$583K	$120K	50x	as long as short
BingX ZRX-USDT	+0.0100%	4h	0.1212	+0.017%	—	$2.3M	—	as long as short
Variational Omni ZRX	+0.0100%	8h	0.1209	−0.209%	$23K	$41K	—	as long as short
Kraken Futures PF_ZRXUSD	+0.1931%	1h	0.1215	+0.280%	$40K	$4K	10x	as long as short