Funding you earn now, next payment 11:00 UTC+0.0608%/8h= +66.6% APRpaid last 24h +0.006%
Price spread now: Backpack against KuCoin+0.178%7-day average −0.003% · you sell dearer than you buy
Net, funding: paid 7d − costs−$104as in the Funding arb table
Net, price: spread back to 7d avg − costs−$74as in the Price arb table
costs, in and out, $10k−$920.923% of the position
Funding, last 7 days−0.113%−$11 on $10k
+Price spread, last 4 days (all we have)−0.191%−$19 · spread now +0.178%, 7d avg −0.003%
=Both sides work for this trade now. Funding pays +$18 a day on $10k at the current rate, and Backpack is 0.180% dearer against KuCoin than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of −0.003%. Mind the row above: over the last 7 days funding on this pair cost −0.113%, 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 -0.113% in total (about -5.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin ZROUSDTM | 1.1815 | 0.0100 | pay 0.0050% / 4h | 1h 51m | $2.3M | $2.3M | 50x |
| Short | Backpack ZRO_USDC_PERP | 1.1836 | 0.0708 | get 0.0088% / 1h | 51m 16s | $93K | $215K | 20x |
KuCoin ZROUSDTM
Backpack ZRO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against KuCoin. 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
- $127.68
- Price spread: +0.178% → −0.003%
- $18.04
- Slippage, 4 orders
- −$70.32
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $53.39
- Costs to cover
- 0.923%
- Break-even
- 4.1 days
Slippage from KuCoin: live order book, 3 min ago; Backpack: live order book, 60 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 KuCoin live order book, 3 min ago | 3.80 bp | 37.3 bp −$37 | 117.0 bp −$1,170 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 60 min ago | 0.42 bp | 6.2 bp −$6 | doesn't fit | doesn't fit | doesn't fit |
ZRO on 26 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Injective ZRO/USDC PERP | −0.0774% | 1h | 1.1760 | −0.466% | $12K | $257K | 12x | as long as short |
| Kraken Futures PF_ZROUSD | −0.0530% | 1h | 1.1815 | +0.001% | $269K | $211K | 25x | as long as short |
| Bybit ZROUSDT | −0.0098% | 4h | 1.1787 | −0.237% | $18.1M | $11.7M | 50x | as long as short |
| 01 Exchange ZROUSD | −0.0072% | 1h | 1.1804 | −0.089% | $4K | $5K | 5x | as long as short |
| Orderly PERP_ZRO_USDC | −0.0022% | 4h | 1.1802 | −0.110% | $20K | $2K | 10x | as long as short |
| dYdX ZRO-USD | 0.0000% | 1h | 1.1815 | −0.004% | $21K | $5K | 5x | as long as short |
| OKX ZRO-USDT-SWAP | +0.0002% | 4h | 1.1805 | −0.085% | $3.2M | $7.4M | 20x | as long as short |
| BloFin ZRO-USDT | +0.0066% | 4h | 1.1847 | +0.271% | $1.0M | $143K | 75x | as long as short |
| Lighter ZRO | +0.0096% | 1h | 1.1824 | +0.076% | $4.4M | $1.1M | 5x | as long as short |
| Hyperliquid ZRO | +0.0100% | 1h | 1.1823 | +0.065% | $37.4M | $5.0M | 5x | as long as short |
Injective ZRO/USDC PERP
Kraken Futures PF_ZROUSD
Bybit ZROUSDT
01 Exchange ZROUSD
Orderly PERP_ZRO_USDC
dYdX ZRO-USD
OKX ZRO-USDT-SWAP
BloFin ZRO-USDT
Lighter ZRO
Hyperliquid ZROShow all 26 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster ZROUSDT | +0.0100% | 4h | 1.1811 | −0.036% | $159K | $124K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1807 | −0.068% | $136K | $143K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1800 | −0.127% | $22.0M | $26.7M | 75x | as long as short |
| Gate ZRO_USDT | +0.0100% | 4h | 1.1810 | −0.042% | $1.4M | $1.1M | 75x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1802 | −0.110% | $9.5M | $2.4M | 125x | as long as short |
| KuCoin ZROUSDTMlong | +0.0100% | 4h | 1.1815 | long leg | $2.3M | $2.3M | 50x | |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1799 | −0.135% | $2.8M | $2.3M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1794 | −0.178% | — | $25.2M | — | as long as short |
| Variational Omni ZRO | +0.0100% | 4h | 1.1817 | +0.017% | $2.3M | $733K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1830 | +0.127% | $40K | $668K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1806 | −0.076% | $101K | $728K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1800 | −0.127% | $21K | — | 3x | as long as short |
| Nado ZRO-PERP | +0.0212% | 1h | 1.1809 | −0.049% | $1.3M | $121K | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0293% / S −0.2341% | 1h | 1.1834 | +0.164% | $3K | — | 100x | as long as short |
| Extended ZRO-USD | +0.0368% | 1h | 1.1802 | −0.114% | $806K | $654K | 10x | as long as short |
| Backpack ZRO_USDC_PERPshort | +0.0708% | 1h | 1.1836 | +0.178% | $93K | $215K | 20x |
Aster ZROUSDT
Pacifica ZRO
Binance ZROUSDT
Gate ZRO_USDT
MEXC ZRO_USDT
Bitget ZROUSDT
BingX ZRO-USDT
Variational Omni ZRO
ApeX Omni ZROUSDT
Polymarket Perps ZRO-USD
Aevo ZRO-PERP
Nado ZRO-PERP
GMX ZRO/USD [ETH-USDC]
Extended ZRO-USD