Funding you earn now, next payment 09:00 UTC+0.0416%/8h= +45.5% APRpaid last 24h −0.006%
Price spread now: Backpack against BloFin+0.309%7-day average +0.031% · you sell dearer than you buy
Net, funding: paid 7d − costs−$55as in the Funding arb table
Net, price: spread back to 7d avg − costs−$13as in the Price arb table
costs, in and out, $10k−$410.406% of the position
Funding, last 7 days−0.143%−$14 on $10k
+Price spread, last 4 days (all we have)+0.430%+$43 · spread now +0.309%, 7d avg +0.031%
=Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Backpack is 0.278% dearer against BloFin than usual: you sell high and buy low: +$28 more if the spread goes back to its 7-day average of +0.031%. Mind the row above: over the last 7 days funding on this pair cost −0.143%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.143% in total (about -7.5% a year). A funding rate is set anew for every payment. 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 | BloFin ZRO-USDT | 1.1960 | 0.0084 | pay 0.0042% / 4h | 3h 00m | $1.1M | $152K | 75x |
| Short | Backpack ZRO_USDC_PERP | 1.1997 | 0.0500 | get 0.0063% / 1h | 0m 23s | $96K | $217K | 20x |
BloFin ZRO-USDT
Backpack ZRO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against BloFin. 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
- $87.3
- Price spread: +0.309% → +0.031%
- $27.85
- Slippage, 4 orders
- −$18.56
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $74.58
- Costs to cover
- 0.406%
- Break-even
- 1.0 days
Slippage from BloFin: live order book, 2 min ago; Backpack: live order book, 33 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 BloFin live order book, 2 min ago | 0.42 bp | 12.6 bp −$13 | 28.9 bp −$289 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 33 min ago | 0.42 bp | 6.3 bp −$6 | doesn't fit | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| 01 Exchange ZROUSD | −0.0288% | 1h | 1.1975 | +0.129% | $4K | $5K | 5x | as long as short |
| dYdX ZRO-USD | 0.0000% | 1h | 1.2004 | +0.369% | $22K | $5K | 5x | as long as short |
| Bybit ZROUSDT | +0.0003% | 4h | 1.1972 | +0.100% | $18.4M | $12.6M | 50x | as long as short |
| Orderly PERP_ZRO_USDC | +0.0046% | 4h | 1.1986 | +0.217% | $21K | $4K | 10x | as long as short |
| BloFin ZRO-USDTlong | +0.0084% | 4h | 1.1960 | long leg | $1.1M | $152K | 75x | |
| Lighter ZRO | +0.0096% | 1h | 1.2000 | +0.331% | $4.5M | $1.2M | 5x | as long as short |
| Hyperliquid ZRO | +0.0100% | 1h | 1.2001 | +0.343% | $38.0M | $5.2M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.2005 | +0.375% | $162K | $147K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1988 | +0.236% | $138K | $161K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1985 | +0.209% | $22.5M | $28.6M | 75x | as long as short |
01 Exchange ZROUSD
dYdX ZRO-USD
Bybit ZROUSDT
Orderly PERP_ZRO_USDC
Lighter ZRO
Hyperliquid ZRO
Aster ZROUSDT
Pacifica ZRO
Binance ZROUSDTShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1985 | +0.209% | $3.3M | $7.9M | 20x | as long as short |
| Gate ZRO_USDT | +0.0100% | 4h | 1.1990 | +0.251% | $1.4M | $1.3M | 75x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1986 | +0.217% | $9.6M | $2.9M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.2006 | +0.385% | $2.5M | $2.2M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1981 | +0.176% | $2.8M | $2.3M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1982 | +0.184% | — | $21.6M | — | as long as short |
| Variational Omni ZRO | +0.0100% | 4h | 1.1967 | +0.057% | $2.3M | $738K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.2000 | +0.334% | $40K | $670K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1997 | +0.309% | $102K | $789K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1998 | +0.321% | $21K | — | 3x | as long as short |
| Nado ZRO-PERP | +0.0128% | 1h | 1.1989 | +0.245% | $1.4M | $120K | 5x | as long as short |
| Extended ZRO-USD | +0.0288% | 1h | 1.1985 | +0.209% | $818K | $646K | 10x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0295% / S −0.2341% | 1h | 1.2009 | +0.413% | $3K | — | 100x | as long as short |
| Backpack ZRO_USDC_PERPshort | +0.0500% | 1h | 1.1997 | +0.309% | $96K | $217K | 20x | |
| Kraken Futures PF_ZROUSD | +0.0546% | 1h | 1.1995 | +0.295% | $273K | $290K | 25x | as long as short |
| Injective ZRO/USDC PERP | +0.1160% | 1h | 1.2040 | +0.669% | $13K | $258K | 12x | as long as short |
OKX ZRO-USDT-SWAP
Gate ZRO_USDT
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
Extended ZRO-USD
GMX ZRO/USD [ETH-USDC]
Kraken Futures PF_ZROUSD
Injective ZRO/USDC PERP