Funding you earn now, next payment 05:00 UTC−0.0360%/8h= −39.5% APRpaid last 24h +0.075%
Price spread now: MEXC against Kraken Futures−0.353%51s7-day average −0.092% · you buy dearer than you sell
Net, funding: paid 7d − costs−$121as 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−$1031.034% of the position
Funding, last 7 days−0.176%−$18 on $10k
+Price spread, last 4 days (all we have)+0.607%+$61 · spread now −0.353%, 7d avg −0.092%
=Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and MEXC is 0.261% cheaper against Kraken Futures than usual: you would sell low and buy high (−$26 if the spread goes back to its 7-day average of −0.092%). Swap the legs. The two prices were read 51 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 -0.176% in total (about -9.2% 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 | Kraken Futures PF_ZROUSD | 1.1772 | 0.0460 | pay 0.0058% / 1h | 42m 25s | $259K | $384K | 25x |
| Short | MEXC ZRO_USDT | 1.1730 | 0.0100 | get 0.0050% / 4h | 3h 42m | $19.2M | $2.7M | 125x |
Kraken Futures PF_ZROUSD
MEXC ZRO_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC 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
- −$75.69
- Price spread: −0.353% → −0.092%
- −$26.13
- Slippage, 4 orders
- −$93.44
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee MEXC: 0 bp × 2 orders
- $0
- Net
- −$205.25
- Costs to cover
- 1.034%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 10 min ago; MEXC: live order book, 1 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, 10 min ago | 31.31 bp | 54.0 bp −$54 | doesn't fit | doesn't fit | doesn't fit |
| Sell MEXC live order book, 1 min ago | 0.85 bp | 5.7 bp −$6 | 28.0 bp −$280 | 78.1 bp −$7,812 | 457.6 bp −$228.8K |
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 | 1.1740 | −0.269% | $21K | $4K | 5x | as long as short |
| Orderly PERP_ZRO_USDC | +0.0048% | 4h | 1.1752 | −0.166% | $21K | $5K | 10x | as long as short |
| BloFin ZRO-USDT | +0.0089% | 4h | 1.1750 | −0.183% | $1.1M | $250K | 75x | as long as short |
| Lighter ZRO | +0.0096% | 1h | 1.1755 | −0.140% | $4.4M | $1.2M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1751 | −0.171% | $159K | $150K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1740 | −0.267% | $136K | $178K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1730 | −0.352% | $22.0M | $29.7M | 75x | as long as short |
| Bybit ZROUSDT | +0.0100% | 4h | 1.1727 | −0.378% | $17.9M | $13.9M | 50x | as long as short |
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1733 | −0.327% | $3.2M | $7.9M | 20x | as long as short |
| Gate ZRO_USDT | +0.0100% | 4h | 1.1730 | −0.353% | $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
Bybit 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_USDTshort | +0.0100% | 4h | 1.1730 | −0.353% | $19.2M | $2.7M | 125x | |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1743 | −0.242% | $2.4M | $2.0M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1727 | −0.378% | $2.7M | $2.6M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1727 | −0.378% | — | $16.4M | — | as long as short |
| Variational Omni ZRO | +0.0100% | 4h | 1.1770 | −0.013% | $2.3M | $809K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1770 | −0.013% | $39K | $675K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1736 | −0.302% | $100K | $850K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1748 | −0.199% | $21K | — | 3x | as long as short |
| Backpack ZRO_USDC_PERP | +0.0124% | 1h | 1.1756 | −0.132% | $98K | $220K | 20x | as long as short |
| Nado ZRO-PERP | +0.0229% | 1h | 1.1736 | −0.302% | $1.3M | $124K | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0293% / S −0.2341% | 1h | 1.1753 | −0.153% | $3K | — | 100x | as long as short |
| 01 Exchange ZROUSD | +0.0312% | 1h | 1.1737 | −0.298% | $7K | $3K | 5x | as long as short |
| Kraken Futures PF_ZROUSDlong | +0.0460% | 1h | 1.1772 | long leg | $259K | $384K | 25x | |
| Hyperliquid ZRO | +0.0501% | 1h | 1.1745 | −0.225% | $37.2M | $5.5M | 5x | as long as short |
| Extended ZRO-USD | +0.1056% | 1h | 1.1726 | −0.384% | $784K | $589K | 10x | as long as short |
| Injective ZRO/USDC PERP | +0.1363% | 1h | 1.1810 | +0.327% | $12K | $261K | 12x | as long as short |
KuCoin ZROUSDTM
Bitget ZROUSDT
BingX ZRO-USDT
Variational Omni ZRO
ApeX Omni ZROUSDT
Polymarket Perps ZRO-USD
Aevo ZRO-PERP
Backpack ZRO_USDC_PERP
Nado ZRO-PERP
GMX ZRO/USD [ETH-USDC]
01 Exchange ZROUSD
Hyperliquid ZRO
Extended ZRO-USD
Injective ZRO/USDC PERP