Funding you earn now, next payment 04:00 UTC+0.0279%/8h= +30.5% APRpaid last 24h −0.091%
Price spread now: Kraken Futures against Bybit+0.152%7-day average +0.138% · you sell dearer than you buy
Net, funding: paid 7d − costs−$116as in the Funding arb table
Net, price: spread back to 7d avg − costs−$130as in the Price arb table
costs, in and out, $10k−$1311.312% of the position
Funding, last 7 days+0.156%+$16 on $10k
+Price spread, last 4 days (all we have)−0.527%−$53 · spread now +0.152%, 7d avg +0.138%
=The price spread sits at its 7-day average of +0.138%, so right now this pair is about funding alone: +$8 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.156% in total (about 8.1% 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 | Bybit ZROUSDT | 1.1727 | 0.0100 | pay 0.0050% / 4h | 13m 55s | $18.0M | $13.9M | 50x |
| Short | Kraken Futures PF_ZROUSD | 1.1745 | 0.0379 | get 0.0047% / 1h | 13m 55s | $258K | $398K | 25x |
Bybit ZROUSDT
Kraken Futures PF_ZROUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Bybit. 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
- $58.59
- Price spread: +0.152% → +0.138%
- $1.37
- Slippage, 4 orders
- −$110.16
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$71.21
- Costs to cover
- 1.312%
- Break-even
- 15.5 days
Slippage from Bybit: live order book, 5 min ago; Kraken Futures: live order book, 44 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 Bybit live order book, 5 min ago | 2.56 bp | 16.9 bp −$17 | 52.8 bp −$528 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 44 min ago | 38.25 bp | 44.0 bp −$44 | 148.2 bp −$1,482 | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX ZRO-USD | +0.0026% | 1h | 1.1737 | +0.087% | $21K | $4K | 5x | as long as short |
| Orderly PERP_ZRO_USDC | +0.0039% | 4h | 1.1734 | +0.060% | $21K | $5K | 10x | as long as short |
| BloFin ZRO-USDT | +0.0071% | 4h | 1.1727 | 0.000% | $1.1M | $249K | 75x | as long as short |
| Lighter ZRO | +0.0096% | 1h | 1.1764 | +0.316% | $4.4M | $1.2M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1747 | +0.171% | $158K | $151K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1732 | +0.044% | $136K | $179K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1747 | +0.168% | $22.0M | $29.9M | 75x | as long as short |
| Bybit ZROUSDTlong | +0.0100% | 4h | 1.1727 | long leg | $18.0M | $13.9M | 50x | |
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1737 | +0.085% | $3.2M | $7.9M | 20x | as long as short |
| Gate ZRO_USDT | +0.0100% | 4h | 1.1740 | +0.111% | $1.3M | $1.5M | 75x | as long as short |
dYdX ZRO-USD
Orderly PERP_ZRO_USDC
BloFin ZRO-USDT
Lighter ZRO
Aster ZROUSDT
Pacifica ZRO
Binance ZROUSDT
OKX ZRO-USDT-SWAP
Gate ZRO_USDTShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1748 | +0.179% | $19.3M | $2.7M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1728 | +0.009% | $2.4M | $2.0M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1741 | +0.119% | $2.7M | $2.6M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1742 | +0.128% | — | $16.5M | — | as long as short |
| Backpack ZRO_USDC_PERP | +0.0100% | 1h | 1.1742 | +0.128% | $98K | $218K | 20x | as long as short |
| Variational Omni ZRO | +0.0100% | 4h | 1.1715 | −0.103% | $2.3M | $810K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1730 | +0.026% | $39K | $671K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1741 | +0.119% | $100K | $851K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1738 | +0.093% | $21K | — | 3x | as long as short |
| 01 Exchange ZROUSD | +0.0112% | 1h | 1.1742 | +0.128% | $7K | $3K | 5x | as long as short |
| Nado ZRO-PERP | +0.0191% | 1h | 1.1735 | +0.070% | $1.3M | $124K | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0293% / S −0.2341% | 1h | 1.1733 | +0.048% | $3K | — | 100x | as long as short |
| Hyperliquid ZRO | +0.0300% | 1h | 1.1754 | +0.230% | $37.2M | $5.5M | 5x | as long as short |
| Kraken Futures PF_ZROUSDshort | +0.0379% | 1h | 1.1745 | +0.152% | $258K | $398K | 25x | |
| Extended ZRO-USD | +0.1176% | 1h | 1.1739 | +0.098% | $784K | $589K | 10x | as long as short |
| Injective ZRO/USDC PERP | +0.1186% | 1h | 1.1790 | +0.537% | $12K | $260K | 12x | as long as short |
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
01 Exchange ZROUSD
Nado ZRO-PERP
GMX ZRO/USD [ETH-USDC]
Hyperliquid ZRO
Extended ZRO-USD
Injective ZRO/USDC PERP