Funding you earn now, next payment 01:00 UTC−0.0200%/8h= −21.9% APRpaid last 24h +0.163%
Price spread now: Bybit against Kraken Futures−0.039%55s7-day average −0.134% · you buy dearer than you sell
Net, funding: paid 7d − costs−$134as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$1201.199% of the position
Funding, last 7 days−0.144%−$14 on $10k
+Price spread, last 3 days (all we have)+0.096%+$10 · spread now −0.039%, 7d avg −0.134%
=The price spread pays, funding is against you. Bybit is 0.094% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.039% now, against its 7-day average of −0.134%): +$9 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 38 hours. At the pace of the last 7 days (−0.144% in total) that is about 4.6 days. The two prices were read 55 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 | Kraken Futures PF_ZROUSD | 1.1831 | 0.0300 | pay 0.0038% / 1h | 4m 22s | $254K | $407K | 25x |
| Short | Bybit ZROUSDT | 1.1826 | 0.0100 | get 0.0050% / 4h | 3h 04m | $18.1M | $14.0M | 50x |
Kraken Futures PF_ZROUSD
Bybit ZROUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Kraken Futures. 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
- −$42.09
- Price spread: −0.039% → −0.134%
- $9.42
- Slippage, 4 orders
- −$98.87
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$152.54
- Costs to cover
- 1.199%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 3 min ago; Bybit: live order book, 4 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 Kraken Futures live order book, 3 min ago | 24.02 bp | 52.7 bp −$53 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 4 min ago | 2.53 bp | 15.8 bp −$16 | 43.7 bp −$437 | 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 | −0.0128% | 1h | 1.1834 | +0.025% | $7K | $3K | 5x | as long as short |
| Orderly PERP_ZRO_USDC | +0.0008% | 4h | 1.1828 | −0.022% | $21K | $6K | 10x | as long as short |
| Lighter ZRO | +0.0096% | 1h | 1.1850 | +0.166% | $4.4M | $1.5M | 5x | as long as short |
| Hyperliquid ZRO | +0.0100% | 1h | 1.1845 | +0.121% | $37.5M | $5.6M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1835 | +0.036% | $158K | $149K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1834 | +0.025% | $137K | $168K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1830 | −0.008% | $22.2M | $30.0M | 75x | as long as short |
| Bybit ZROUSDTshort | +0.0100% | 4h | 1.1826 | −0.039% | $18.1M | $14.0M | 50x | |
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1835 | +0.037% | $3.2M | $8.0M | 20x | as long as short |
| Gate ZRO_USDT | +0.0100% | 4h | 1.1820 | −0.090% | $1.4M | $1.5M | 75x | as long as short |
01 Exchange ZROUSD
Orderly PERP_ZRO_USDC
Lighter ZRO
Hyperliquid 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 | 1.1831 | +0.003% | $19.2M | $2.7M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1824 | −0.056% | $2.4M | $1.9M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1833 | +0.020% | $2.7M | $2.4M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1827 | −0.031% | — | $16.5M | — | as long as short |
| Variational Omni ZRO | +0.0100% | 4h | 1.1804 | −0.227% | $2.3M | $847K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1870 | +0.333% | $37K | $686K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1840 | +0.079% | $93K | $840K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1810 | −0.175% | $21K | — | 3x | as long as short |
| BloFin ZRO-USDT | +0.0110% | 4h | 1.1822 | −0.073% | $1.1M | $257K | 75x | as long as short |
| dYdX ZRO-USD | +0.0178% | 1h | 1.1824 | −0.053% | $21K | $3K | 5x | as long as short |
| Nado ZRO-PERP | +0.0288% | 1h | 1.1837 | +0.052% | $1.4M | $126K | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0292% / S −0.2341% | 1h | 1.1838 | +0.059% | $3K | — | 100x | as long as short |
| Kraken Futures PF_ZROUSDlong | +0.0300% | 1h | 1.1831 | long leg | $254K | $407K | 25x | |
| Backpack ZRO_USDC_PERP | +0.0426% | 1h | 1.1824 | −0.056% | $98K | $207K | 20x | as long as short |
| Extended ZRO-USD | +0.1152% | 1h | 1.1826 | −0.039% | $792K | $600K | 10x | as long as short |
| Injective ZRO/USDC PERP | +0.1190% | 1h | 1.1920 | +0.755% | $12K | $260K | 12x | as long as short |
MEXC ZRO_USDT
KuCoin ZROUSDTM
Bitget ZROUSDT
BingX ZRO-USDT
Variational Omni ZRO
ApeX Omni ZROUSDT
Polymarket Perps ZRO-USD
Aevo ZRO-PERP
BloFin ZRO-USDT
dYdX ZRO-USD
Nado ZRO-PERP
GMX ZRO/USD [ETH-USDC]
Backpack ZRO_USDC_PERP
Extended ZRO-USD
Injective ZRO/USDC PERP