Funding you earn now, next payment 04:00 UTC−0.0059%/8h= −6.4% APRnext payment −$0.29 per $10,000 · paid last 24h 0.000%
Price spread now: Bybit against Binance−0.091%7-day average −0.023% · you buy dearer than you sell
Net, funding: paid 7d − costs−$56as in the Funding arb table
Net, price: spread back to 7d avg − costs−$64as in the Price arb table
costs, in and out, $10k−$570.572% of the position
Funding, last 7 days+0.015%+$2 on $10k
+Price spread, last 7 days+0.105%+$10 · spread now −0.091%, 7d avg −0.023%
=Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Bybit is 0.068% cheaper against Binance than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.023%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance ZROUSDT | 1.1702 | 0.0100 | pay 0.0050% / 4h | 2h 00m | $21.9M | $29.7M | 75x |
| Short | Bybit ZROUSDT | 1.1691 | 0.0041 | get 0.0021% / 4h | 2h 00m | $17.9M | $13.9M | 50x |
Binance ZROUSDT
Bybit ZROUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Binance. 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
- −$12.31
- Price spread: −0.091% → −0.023%
- −$6.83
- Slippage, 4 orders
- −$36.23
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$76.37
- Costs to cover
- 0.572%
- Break-even
- never at this rate
Slippage from Binance: live order book, 11 min ago; Bybit: live order book, 3 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 Binance live order book, 11 min ago | 0.43 bp | 14.1 bp −$14 | 37.5 bp −$375 | 307.1 bp −$30.7K | doesn't fit |
| Sell Bybit live order book, 3 min ago | 0.43 bp | 16.3 bp −$16 | 42.7 bp −$427 | 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 | 1.1693 | −0.076% | $7K | $3K | 5x | as long as short |
| dYdX ZRO-USD | +0.0003% | 1h | 1.1711 | +0.077% | $21K | $3K | 5x | as long as short |
| Orderly PERP_ZRO_USDC | +0.0036% | 4h | 1.1707 | +0.046% | $20K | $5K | 10x | as long as short |
| Bybit ZROUSDTshort | +0.0041% | 4h | 1.1691 | −0.091% | $17.9M | $13.9M | 50x | |
| Gate ZRO_USDT | +0.0044% | 4h | 1.1710 | +0.071% | $1.3M | $1.5M | 75x | as long as short |
| Lighter ZRO | +0.0096% | 1h | 1.1727 | +0.220% | $4.4M | $1.2M | 5x | as long as short |
| Hyperliquid ZRO | +0.0100% | 1h | 1.1723 | +0.183% | $37.1M | $5.4M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1725 | +0.200% | $158K | $150K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1707 | +0.046% | $136K | $167K | 5x | as long as short |
| Binance ZROUSDTlong | +0.0100% | 4h | 1.1702 | long leg | $21.9M | $29.7M | 75x |
01 Exchange ZROUSD
dYdX ZRO-USD
Orderly PERP_ZRO_USDC
Gate ZRO_USDT
Lighter ZRO
Hyperliquid ZRO
Aster ZROUSDT
Pacifica ZROShow all 25 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1699 | −0.023% | $3.2M | $7.9M | 20x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1705 | +0.029% | $19.1M | $2.8M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1707 | +0.046% | $2.3M | $1.9M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1702 | +0.003% | $2.7M | $2.4M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1705 | +0.029% | — | $16.5M | — | as long as short |
| Backpack ZRO_USDC_PERP | +0.0100% | 1h | 1.1712 | +0.089% | $98K | $208K | 20x | as long as short |
| Variational Omni ZRO | +0.0100% | 4h | 1.1687 | −0.121% | $2.3M | $814K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1690 | −0.099% | $39K | $675K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1703 | +0.012% | $91K | $836K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1702 | −0.001% | $21K | — | 3x | as long as short |
| Nado ZRO-PERP | +0.0227% | 1h | 1.1692 | −0.086% | $1.3M | $124K | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0292% / S −0.2341% | 1h | 1.1714 | +0.105% | $3K | — | 100x | as long as short |
| Kraken Futures PF_ZROUSD | +0.0371% | 1h | 1.1724 | +0.187% | $259K | $407K | 25x | as long as short |
| Extended ZRO-USD | +0.1032% | 1h | 1.1705 | +0.029% | $785K | $590K | 10x | as long as short |
| Injective ZRO/USDC PERP | +0.1213% | 1h | 1.1750 | +0.413% | $12K | $260K | 12x | as long as short |
OKX ZRO-USDT-SWAP
MEXC ZRO_USDT
KuCoin ZROUSDTM
Bitget ZROUSDT
BingX ZRO-USDT
Backpack ZRO_USDC_PERP
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