Funding you earn now, next payment 01:00 UTC+0.0888%/8h= +97.2% APRnext payment +$1.11 per $10,000 · paid last 24h +0.279%
Price spread now: Injective against Kraken Futures+0.538%63s7-day average −0.098% · you sell dearer than you buy
Net, funding: paid 7d − costs−$198as 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−$1611.607% of the position
Funding, last 7 days−0.373%−$37 on $10k
+Price spread, last 3 days (all we have)−1.080%−$108 · spread now +0.538%, 7d avg −0.098%
=Both sides work for this trade now. Funding pays +$27 a day on $10k at the current rate, and Injective is 0.636% dearer against Kraken Futures than usual: you sell high and buy low: +$64 more if the spread goes back to its 7-day average of −0.098%. Mind the row above: over the last 7 days funding on this pair cost −0.373%, so the current rate has only just turned in your favour. The two prices were read 63 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.373% in total (about -19.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.11 per $10,000. 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 | Kraken Futures PF_ZROUSD | 1.1767 | 0.0302 | pay 0.0038% / 1h | 52m 10s | $252K | $412K | 25x |
| Short | Injective ZRO/USDC PERP | 1.1830 | 0.1190 | get 0.0149% / 1h | 52m 10s | $12K | $260K | 12x |
Kraken Futures PF_ZROUSD
Injective ZRO/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- $186.38
- Price spread: +0.538% → −0.098%
- $63.59
- Slippage, 4 orders
- −$150.66
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $89.29
- Costs to cover
- 1.607%
- Break-even
- 3.6 days
Slippage from Kraken Futures: live order book, 21 min ago; Injective: live order book, 22 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, 21 min ago | 26.80 bp | 39.5 bp −$39 | doesn't fit | doesn't fit | doesn't fit |
| Sell Injective live order book, 22 min ago | 34.04 bp | 44.6 bp −$45 | 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 | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni ZROUSDT | −0.0347% | 1h | 1.1790 | +0.198% | $37K | $687K | 50x | as long as short |
| Gate ZRO_USDT | −0.0196% | 4h | 1.1740 | −0.227% | $1.3M | $1.5M | 75x | as long as short |
| 01 Exchange ZROUSD | −0.0192% | 1h | 1.1784 | +0.144% | $7K | $3K | 5x | as long as short |
| dYdX ZRO-USD | +0.0002% | 1h | 1.1782 | +0.132% | $21K | $3K | 5x | as long as short |
| Orderly PERP_ZRO_USDC | +0.0012% | 4h | 1.1762 | −0.040% | $21K | $7K | 10x | as long as short |
| BloFin ZRO-USDT | +0.0067% | 4h | 1.1771 | +0.036% | $1.1M | $256K | 75x | as long as short |
| Lighter ZRO | +0.0096% | 1h | 1.1766 | −0.003% | $4.4M | $1.5M | 5x | as long as short |
| Hyperliquid ZRO | +0.0100% | 1h | 1.1759 | −0.066% | $37.2M | $5.9M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1766 | −0.009% | $157K | $149K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1776 | +0.079% | $136K | $172K | 5x | as long as short |
ApeX Omni ZROUSDT
Gate ZRO_USDT
01 Exchange ZROUSD
dYdX ZRO-USD
Orderly PERP_ZRO_USDC
BloFin ZRO-USDT
Lighter ZRO
Hyperliquid ZRO
Aster ZROUSDT
Pacifica ZROShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance ZROUSDT | +0.0100% | 4h | 1.1758 | −0.074% | $22.1M | $30.5M | 75x | as long as short |
| Bybit ZROUSDT | +0.0100% | 4h | 1.1752 | −0.125% | $17.9M | $14.3M | 50x | as long as short |
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1755 | −0.100% | $3.2M | $8.1M | 20x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1760 | −0.057% | $19.1M | $2.7M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1747 | −0.168% | $2.4M | $1.9M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1748 | −0.159% | $2.7M | $2.4M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1750 | −0.142% | — | $10.7M | — | as long as short |
| Variational Omni ZRO | +0.0100% | 4h | 1.1797 | +0.261% | $2.3M | $876K | — | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1784 | +0.147% | $91K | $830K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1768 | +0.014% | $21K | — | 3x | as long as short |
| Nado ZRO-PERP | +0.0214% | 1h | 1.1778 | +0.095% | $1.3M | $123K | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0292% / S −0.2341% | 1h | 1.1782 | +0.130% | $3K | — | 100x | as long as short |
| Kraken Futures PF_ZROUSDlong | +0.0302% | 1h | 1.1767 | long leg | $252K | $412K | 25x | |
| Backpack ZRO_USDC_PERP | +0.0478% | 1h | 1.1763 | −0.032% | $99K | $205K | 20x | as long as short |
| Injective ZRO/USDC PERPshort | +0.1190% | 1h | 1.1830 | +0.538% | $12K | $260K | 12x | |
| Extended ZRO-USD | +0.1504% | 1h | 1.1761 | −0.051% | $784K | $589K | 10x | as long as short |
Binance ZROUSDT
Bybit ZROUSDT
OKX ZRO-USDT-SWAP
MEXC ZRO_USDT
KuCoin ZROUSDTM
Bitget ZROUSDT
BingX ZRO-USDT
Variational Omni ZRO
Polymarket Perps ZRO-USD
Aevo ZRO-PERP
Nado ZRO-PERP
GMX ZRO/USD [ETH-USDC]
Backpack ZRO_USDC_PERP
Extended ZRO-USD