ZRO

Alert

Funding spread now, next payment 18:00 UTC+0.0506%/8h

next payment, per $10,000+$0.63paid, last 24h−0.086%paid, last 7 days+0.330%to open and close $10k−$103

Long on Backpack Short on Kraken Futures

The current rate is far above what this pair has been paying: over the last 7 days it paid 0.330% in total (about 17.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.63 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack ZRO_USDC_PERP	1.1679	−0.0408	get 0.0051% / 1h	17m 49s	$91K	$202K	20x
Short	Kraken Futures PF_ZROUSD	1.1676	0.0098	get 0.0012% / 1h	17m 49s	$257K	$576K	25x

Funding history

latest

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Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee BackpackbpFee Kraken FuturesbpOrdersRate

Funding earned: $106.28
Slippage, 4 orders: −$83.21
Fee Backpack: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $3.06
Break-even: 6.8 days

Slippage from Backpack: live order book, 22 min ago; Kraken Futures: live order book, 22 min ago.

Price risk

price view

Price gap now: −0.028%
Avg gap 7d: +0.073%

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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 Backpack live order book, 22 min ago	0.43 bp	6.2 bp −$6	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 22 min ago	13.61 bp	55.8 bp −$56	174.2 bp −$1,742	doesn't fit	doesn't fit

ZRO on 26 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Backpack ZRO_USDC_PERPlong	−0.0408%	1h	$91K	$202K	20x
01 Exchange ZROUSD	−0.0072%	1h	$7K	$3K	5x	as long as short
dYdX ZRO-USD	+0.0004%	1h	$21K	$2K	5x	as long as short
Orderly PERP_ZRO_USDC	+0.0012%	4h	$20K	$7K	10x	as long as short
OKX ZRO-USDT-SWAP	+0.0044%	4h	$3.2M	$8.0M	20x	as long as short
BloFin ZRO-USDT	+0.0084%	4h	$1.1M	$275K	75x	as long as short
Bybit ZROUSDT	+0.0088%	4h	$18.1M	$17.6M	50x	as long as short
Kraken Futures PF_ZROUSDshort	+0.0098%	1h	$257K	$576K	25x
Hyperliquid ZRO	+0.0100%	1h	$37.9M	$8.0M	5x	as long as short
Aster ZROUSDT	+0.0100%	4h	$156K	$157K	10x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Pacifica ZRO	+0.0100%	1h	$140K	$218K	5x	as long as short
Binance ZROUSDT	+0.0100%	4h	$22.3M	$35.4M	75x	as long as short
Gate ZRO_USDT	+0.0100%	4h	$1.3M	$2.2M	75x	as long as short
MEXC ZRO_USDT	+0.0100%	4h	$17.8M	$3.9M	125x	as long as short
KuCoin ZROUSDTM	+0.0100%	4h	$2.5M	$1.5M	50x	as long as short
Bitget ZROUSDT	+0.0100%	4h	$2.7M	$2.8M	75x	as long as short
BingX ZRO-USDT	+0.0100%	4h	—	$9.2M	—	as long as short
Variational Omni ZRO	+0.0100%	4h	$2.2M	$894K	—	as long as short
ApeX Omni ZROUSDT	+0.0100%	1h	$37K	$682K	50x	as long as short
Polymarket Perps ZRO-USD	+0.0100%	1h	$79K	$943K	5x	as long as short
Aevo ZRO-PERP	+0.0104%	1h	$21K	—	3x	as long as short
Nado ZRO-PERP	+0.0270%	1h	$1.3M	$135K	5x	as long as short
GMX ZRO/USD [ETH-USDC]	L +0.0281% / S −0.2124%	1h	$3K	—	100x	as long as short
Lighter ZRO	+0.0416%	1h	$4.7M	$1.3M	5x	as long as short
Extended ZRO-USD	+0.0560%	1h	$773K	$536K	10x	as long as short
Injective ZRO/USDC PERP	+0.1291%	1h	$12K	$124K	12x	as long as short