Funding you earn now, next payment 06:00 UTC+0.0039%/8h= +4.3% APRpaid last 24h +0.006%
Price spread now: MEXC against Backpack−0.026%7-day average −0.014% · you buy dearer than you sell
Net, funding: paid 7d − costs−$14as in the Funding arb table
Net, price: spread back to 7d avg − costs−$29as in the Price arb table
costs, in and out, $10k−$280.275% of the position
Funding, last 7 days+0.133%+$13 on $10k
+Price spread, last 4 days (all we have)+0.037%+$4 · spread now −0.026%, 7d avg −0.014%
=The price spread sits at its 7-day average of −0.014%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack ZRO_USDC_PERP | 1.1575 | 0.0061 | pay 0.0008% / 1h | 31m 29s | $93K | $218K | 20x |
| Short | MEXC ZRO_USDT | 1.1572 | 0.0100 | get 0.0050% / 4h | 2h 31m | $19.0M | $2.7M | 125x |
Backpack ZRO_USDC_PERP
MEXC ZRO_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC 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
- $8.16
- Price spread: −0.026% → −0.014%
- −$1.18
- Slippage, 4 orders
- −$17.55
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee MEXC: 0 bp × 2 orders
- $0
- Net
- −$20.56
- Costs to cover
- 0.275%
- Break-even
- 24.6 days
Slippage from Backpack: live order book, 17 min ago; MEXC: live order book, 2 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, 17 min ago | 0.43 bp | 7.3 bp −$7 | doesn't fit | doesn't fit | doesn't fit |
| Sell MEXC live order book, 2 min ago | 0.43 bp | 5.2 bp −$5 | 39.7 bp −$397 | 82.0 bp −$8,198 | doesn't fit |
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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX ZRO-USD | +0.0010% | 1h | 1.1567 | −0.072% | $21K | $5K | 5x | as long as short |
| Backpack ZRO_USDC_PERPlong | +0.0061% | 1h | 1.1575 | long leg | $93K | $218K | 20x | |
| Orderly PERP_ZRO_USDC | +0.0063% | 4h | 1.1574 | −0.009% | $20K | $4K | 10x | as long as short |
| Lighter ZRO | +0.0096% | 1h | 1.1594 | +0.166% | $4.3M | $1.2M | 5x | as long as short |
| Hyperliquid ZRO | +0.0100% | 1h | 1.1574 | −0.010% | $36.7M | $5.5M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1575 | −0.004% | $156K | $150K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1569 | −0.052% | $136K | $176K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1562 | −0.112% | $21.6M | $29.4M | 75x | as long as short |
| Bybit ZROUSDT | +0.0100% | 4h | 1.1565 | −0.086% | $17.7M | $13.6M | 50x | as long as short |
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1566 | −0.078% | $3.1M | $7.7M | 20x | as long as short |
dYdX ZRO-USD
Orderly PERP_ZRO_USDC
Lighter ZRO
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 | 1.1560 | −0.130% | $1.3M | $1.5M | 75x | as long as short |
| MEXC ZRO_USDTshort | +0.0100% | 4h | 1.1572 | −0.026% | $19.0M | $2.7M | 125x | |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1566 | −0.078% | $2.3M | $2.0M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1566 | −0.078% | $2.6M | $2.5M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1581 | +0.052% | — | $16.5M | — | as long as short |
| Variational Omni ZRO | +0.0100% | 4h | 1.1599 | +0.205% | $2.2M | $809K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1570 | −0.043% | $39K | $677K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1570 | −0.043% | $101K | $815K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1590 | +0.130% | $20K | — | 3x | as long as short |
| 01 Exchange ZROUSD | +0.0128% | 1h | 1.1570 | −0.047% | $4K | $5K | 5x | as long as short |
| BloFin ZRO-USDT | +0.0146% | 4h | 1.1567 | −0.069% | $1.0M | $247K | 75x | as long as short |
| Nado ZRO-PERP | +0.0190% | 1h | 1.1566 | −0.081% | $1.3M | $127K | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0292% / S −0.2341% | 1h | 1.1581 | +0.052% | $3K | — | 100x | as long as short |
| Kraken Futures PF_ZROUSD | +0.0710% | 1h | 1.1579 | +0.036% | $253K | $336K | 25x | as long as short |
| Extended ZRO-USD | +0.0904% | 1h | 1.1564 | −0.094% | $795K | $625K | 10x | as long as short |
| Injective ZRO/USDC PERP | +0.1343% | 1h | 1.1670 | +0.821% | $12K | $260K | 12x | as long as short |
Gate ZRO_USDT
KuCoin ZROUSDTM
Bitget ZROUSDT
BingX ZRO-USDT
Variational Omni ZRO
ApeX Omni ZROUSDT
Polymarket Perps ZRO-USD
Aevo ZRO-PERP
01 Exchange ZROUSD
BloFin ZRO-USDT
Nado ZRO-PERP
GMX ZRO/USD [ETH-USDC]
Kraken Futures PF_ZROUSD
Extended ZRO-USD
Injective ZRO/USDC PERP