Settings8H · net · $10k
FundingCostsSizeExchangesMy alerts
Funding arb · Price arb /

ZRX

all ZRX markets
SwapBacktest
Alert: funding
Measured
My alerts

Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
My alerts

Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 12:00 UTC−0.0403%/8h= −44.2% APRpaid last 24h −0.027%
Price spread now: Bybit against OKX+0.084%7-day average +0.050% · you sell dearer than you buy
Net, funding: paid 7d − costs−$225as in the Funding arb table
Net, price: spread back to 7d avg − costs−$197as in the Price arb table
costs, in and out, $10k−$2002.001% of the position
Long on OKXShort on Bybit
What this pair did over the last
the charts below follow
Funding, last 7 days−0.246%−$25 on $10k
Price spread, last 4 days (all we have)−0.028%−$3 · spread now +0.084%, 7d avg +0.050%
Together, before fees−0.274%−$27 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Bybit is 0.035% dearer against OKX than usual: you sell high and buy low (spread +0.084% now, against its 7-day average of +0.050%): +$3 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 7 hours. At the pace of the last 7 days (−0.246% in total) that is about 24 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.246% in total (about -12.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongOKX ZRX-USDT-SWAP0.11840.0100pay 0.0050% / 4h1h 58m$520K$355K20x
ShortBybit ZRXUSDT0.1185−0.0303pay 0.0303% / 8h5h 58m$1.4M$354K25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bybit 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

Funding earned
−$84.72
Price spread: +0.084% → +0.050%
$3.47
Slippage, 4 orders
−$179.13
Fee OKX: 5 bp × 2 orders
−$10
Fee Bybit: 5.5 bp × 2 orders
−$11
Net
−$281.39
Costs to cover
2.001%
Break-even
never at this rate
Slippage from OKX: live order book, 50 min ago; Bybit: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy OKX live order book, 50 min ago7.20 bp38.7 bp −$394805.1 bp −$48.1Kdoesn't fitdoesn't fit
Sell Bybit live order book, 5 min ago8.01 bp59.2 bp −$59362.1 bp −$3,621doesn't fitdoesn't fit

ZRX on 11 exchanges

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Gate ZRX_USDT−0.0405%8h0.1184+0.008%$141K$36K75xas long as short
Bybit ZRXUSDTshort−0.0303%8h0.1185+0.084%$1.4M$354K25x
BloFin ZRX-USDT+0.0096%4h0.1184−0.008%$91K$23K50xas long as short
Binance ZRXUSDT+0.0100%4h0.1186+0.160%$1.7M$1.4M50xas long as short
OKX ZRX-USDT-SWAPlong+0.0100%4h0.1184long leg$520K$355K20x
MEXC ZRX_USDT+0.0100%4h0.1185+0.076%$878K$134K50xas long as short
KuCoin ZRXUSDTM+0.0100%4h0.1185+0.076%$287K$57K30xas long as short
Bitget ZRXUSDT+0.0100%4h0.1186+0.160%$586K$146K50xas long as short
BingX ZRX-USDT+0.0100%4h0.1186+0.160%—$2.3M—as long as short
Variational Omni ZRX+0.0100%8h0.1185+0.074%$22K$13K—as long as short
Show all 11 exchanges
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Kraken Futures PF_ZRXUSD+0.0452%1h0.1186+0.184%$38K$6K10xas long as short