Funding arb · Price arb /

ZRO

all ZRO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.2241%/8h= +245.4% APRpaid last 24h +0.837%

Price spread now: GMX against Bitget−0.046%64s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bitget Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. GMX is 0.046% cheaper against Bitget than usual: you would sell low and buy high (spread −0.046% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 2 hours of funding at the current rate (+$67 a day). The two prices were read 64 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ZROUSDT	1.1621	0.0100	pay 0.0050% / 4h	20m 28s	$2.7M	$2.5M	75x
Short	GMX ZRO/USD [ETH-USDC]	1.1616	L +0.0292% / S −0.2341%	get 0.0293% / 1h	20m 28s	$3K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bitget. 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

Position, each leg$Hold fordaysFee BitgetbpFee GMXbpOrdersPrice spread, now −0.046%Rate

Funding earned: $470.65
Price spread: −0.046% → 0.000%: −$4.58
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $442.07
Costs to cover: 0.240%
Break-even: 0.4 days

Slippage unknown: Bitget: live order book, 2 min ago; GMX: no order-book sample. Net counts fees only.

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 Bitget live order book, 2 min ago	3.88 bp	17.7 bp −$18	40.6 bp −$406	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.0000%	1h	1.1621	+0.002%	$21K	$5K	5x	as long as short
01 Exchange ZROUSD	0.0000%	1h	1.1627	+0.052%	$4K	$5K	5x	as long as short
Orderly PERP_ZRO_USDC	+0.0085%	4h	1.1627	+0.052%	$20K	$4K	10x	as long as short
Lighter ZRO	+0.0096%	1h	1.1636	+0.133%	$4.3M	$1.2M	5x	as long as short
Nado ZRO-PERP	+0.0100%	1h	1.1623	+0.016%	$1.3M	$125K	5x	as long as short
Hyperliquid ZRO	+0.0100%	1h	1.1641	+0.169%	$36.9M	$5.3M	5x	as long as short
Aster ZROUSDT	+0.0100%	4h	1.1632	+0.097%	$157K	$150K	10x	as long as short
Pacifica ZRO	+0.0100%	1h	1.1619	−0.017%	$137K	$171K	5x	as long as short
Binance ZROUSDT	+0.0100%	4h	1.1629	+0.069%	$21.8M	$28.7M	75x	as long as short
Bybit ZROUSDT	+0.0100%	4h	1.1618	−0.026%	$17.7M	$13.1M	50x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ZRO-USDT-SWAP	+0.0100%	4h	1.1628	+0.060%	$3.2M	$7.6M	20x	as long as short
Gate ZRO_USDT	+0.0100%	4h	1.1620	−0.009%	$1.3M	$1.4M	75x	as long as short
MEXC ZRO_USDT	+0.0100%	4h	1.1626	+0.043%	$19.1M	$2.7M	125x	as long as short
KuCoin ZROUSDTM	+0.0100%	4h	1.1622	+0.009%	$2.4M	$2.0M	50x	as long as short
Bitget ZROUSDTlong	+0.0100%	4h	1.1621	long leg	$2.7M	$2.5M	75x
BingX ZRO-USDT	+0.0100%	4h	1.1624	+0.026%	—	$21.7M	—	as long as short
Backpack ZRO_USDC_PERP	+0.0100%	1h	1.1619	−0.017%	$94K	$214K	20x	as long as short
Variational Omni ZRO	+0.0100%	4h	1.1605	−0.138%	$2.3M	$759K	—	as long as short
ApeX Omni ZROUSDT	+0.0100%	1h	1.1630	+0.077%	$39K	$669K	50x	as long as short
Polymarket Perps ZRO-USD	+0.0100%	1h	1.1631	+0.086%	$98K	$813K	5x	as long as short
Aevo ZRO-PERP	+0.0104%	1h	1.1625	+0.034%	$21K	—	3x	as long as short
BloFin ZRO-USDT	+0.0122%	4h	1.1622	+0.009%	$1.0M	$198K	75x	as long as short
GMX ZRO/USD [ETH-USDC]short	L +0.0292% / S −0.2341%	1h	1.1616	−0.046%	$3K	—	100x
Kraken Futures PF_ZROUSD	+0.0433%	1h	1.1629	+0.072%	$253K	$296K	25x	as long as short
Extended ZRO-USD	+0.0480%	1h	1.1621	−0.004%	$793K	$647K	10x	as long as short
Injective ZRO/USDC PERP	+0.1271%	1h	1.1670	+0.422%	$12K	$261K	12x	as long as short