Funding you earn now, next payment 02:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h +0.047%
Price spread now: Lighter against Backpack−0.151%7-day average +0.155% · you buy dearer than you sell
Net, funding: paid 7d − costs+$7as in the Funding arb table
Net, price: spread back to 7d avg − costs−$76as in the Price arb table
costs, in and out, $10k−$450.453% of the position
Funding, last 7 days+0.522%+$52 on $10k
+Price spread, last 4 days (all we have)+0.357%+$36 · spread now −0.151%, 7d avg +0.155%
=Together, before fees+0.879%+ Points / potential airdropLighter: Season 3 · farm board+$88 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: Lighter is 0.306% cheaper against Backpack than usual: you would sell low and buy high, −$31 on $10k if it goes back to its 7-day average of +0.155%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack ZRO_USDC_PERP | 1.1729 | 0.0100 | pay 0.0013% / 1h | 3m 09s | $98K | $209K | 20x |
| Short | Lighter ZRO | 1.1711 | 0.0096 | get 0.0012% / 1h | 3m 09s | $4.4M | $1.2M | 5x |
Backpack ZRO_USDC_PERP
Lighter ZROFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Backpack. 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
- −$0.84
- Price spread: −0.151% → +0.155%
- −$30.56
- Slippage, 4 orders
- −$35.32
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$76.73
- Costs to cover
- 0.453%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 65 min ago; Lighter: live order book, 4 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 Backpack live order book, 65 min ago | 0.42 bp | 7.2 bp −$7 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 4 min ago | 14.08 bp | 15.0 bp −$15 | 83.2 bp −$832 | doesn't fit | doesn't fit |
ZRO on 25 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 ZROUSD | −0.0216% | 1h | 1.1698 | −0.267% | $7K | $3K | 5x | as long as short |
| dYdX ZRO-USD | +0.0003% | 1h | 1.1683 | −0.389% | $21K | $3K | 5x | as long as short |
| Bybit ZROUSDT | +0.0030% | 4h | 1.1721 | −0.068% | $18.0M | $13.9M | 50x | as long as short |
| Orderly PERP_ZRO_USDC | +0.0034% | 4h | 1.1688 | −0.350% | $20K | $5K | 10x | as long as short |
| Gate ZRO_USDT | +0.0038% | 4h | 1.1690 | −0.333% | $1.3M | $1.5M | 75x | as long as short |
| Lighter ZROshort | +0.0096% | 1h | 1.1711 | −0.151% | $4.4M | $1.2M | 5x | |
| Hyperliquid ZRO | +0.0100% | 1h | 1.1705 | −0.205% | $37.1M | $5.4M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1699 | −0.253% | $158K | $150K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1690 | −0.331% | $136K | $167K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1720 | −0.081% | $22.0M | $29.7M | 75x | as long as short |
01 Exchange ZROUSD
dYdX ZRO-USD
Bybit ZROUSDT
Orderly PERP_ZRO_USDC
Gate ZRO_USDT
Hyperliquid ZRO
Aster ZROUSDT
Pacifica ZRO
Binance ZROUSDTShow all 25 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1728 | −0.009% | $3.2M | $8.0M | 20x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1727 | −0.017% | $19.1M | $2.8M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1682 | −0.401% | $2.3M | $1.9M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1725 | −0.034% | $2.7M | $2.4M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1725 | −0.034% | — | $16.5M | — | as long as short |
| Backpack ZRO_USDC_PERPlong | +0.0100% | 1h | 1.1729 | long leg | $98K | $209K | 20x | |
| Variational Omni ZRO | +0.0100% | 4h | 1.1639 | −0.763% | $2.3M | $814K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1680 | −0.418% | $39K | $674K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1699 | −0.256% | $91K | $836K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1683 | −0.391% | $21K | — | 3x | as long as short |
| Nado ZRO-PERP | +0.0229% | 1h | 1.1689 | −0.338% | $1.3M | $123K | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0292% / S −0.2341% | 1h | 1.1689 | −0.343% | $3K | — | 100x | as long as short |
| Kraken Futures PF_ZROUSD | +0.0372% | 1h | 1.1704 | −0.211% | $251K | $399K | 25x | as long as short |
| Extended ZRO-USD | +0.1032% | 1h | 1.1686 | −0.367% | $780K | $590K | 10x | as long as short |
| Injective ZRO/USDC PERP | +0.1213% | 1h | 1.1730 | +0.009% | $12K | $260K | 12x | as long as short |
OKX ZRO-USDT-SWAP
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
Extended ZRO-USD
Injective ZRO/USDC PERP