Funding arb · Price arb /

ZRO

all ZRO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.2528%/8h= +276.8% APRpaid last 24h +1.136%

Price spread now: GMX against OKX−0.038%52s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on OKX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. GMX is 0.038% cheaper against OKX than usual: you would sell low and buy high (spread −0.038% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 1 hour of funding at the current rate (+$76 a day). The two prices were read 52 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	OKX ZRO-USDT-SWAP	1.1839	−0.0186	get 0.0093% / 4h	3h 31m	$3.3M	$9.5M	20x
Short	GMX ZRO/USD [ETH-USDC]	1.1835	L +0.0291% / S −0.2341%	get 0.0293% / 1h	31m 31s	$3K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against OKX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee OKXbpFee GMXbpOrdersPrice spread, now −0.038%Rate

Funding earned: $530.8
Price spread: −0.038% → 0.000%: −$3.76
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $505.04
Costs to cover: 0.220%
Break-even: 0.3 days

Slippage unknown: OKX: live order book, 2 min ago; GMX: no order-book sample. Net counts fees only.

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 OKX live order book, 2 min ago	1.27 bp	12.5 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
OKX ZRO-USDT-SWAPlong	−0.0186%	4h	1.1839	long leg	$3.3M	$9.5M	20x
Kraken Futures PF_ZROUSD	−0.0083%	1h	1.1851	+0.103%	$248K	$579K	25x	as long as short
Orderly PERP_ZRO_USDC	−0.0031%	4h	1.1839	0.000%	$21K	$7K	10x	as long as short
dYdX ZRO-USD	+0.0034%	1h	1.1851	+0.102%	$21K	$2K	5x	as long as short
BloFin ZRO-USDT	+0.0054%	4h	1.1815	−0.203%	$1.1M	$266K	75x	as long as short
Hyperliquid ZRO	+0.0100%	1h	1.1859	+0.169%	$37.7M	$7.8M	5x	as long as short
Aster ZROUSDT	+0.0100%	4h	1.1859	+0.169%	$159K	$165K	10x	as long as short
Pacifica ZRO	+0.0100%	1h	1.1841	+0.019%	$144K	$210K	5x	as long as short
Binance ZROUSDT	+0.0100%	4h	1.1839	0.000%	$22.4M	$35.6M	75x	as long as short
Bybit ZROUSDT	+0.0100%	4h	1.1827	−0.101%	$18.2M	$16.8M	50x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ZRO_USDT	+0.0100%	4h	1.1840	+0.008%	$1.3M	$2.1M	75x	as long as short
MEXC ZRO_USDT	+0.0100%	4h	1.1835	−0.034%	$18.4M	$3.7M	125x	as long as short
KuCoin ZROUSDTM	+0.0100%	4h	1.1847	+0.068%	$2.5M	$1.5M	50x	as long as short
Bitget ZROUSDT	+0.0100%	4h	1.1837	−0.017%	$2.7M	$2.7M	75x	as long as short
BingX ZRO-USDT	+0.0100%	4h	1.1839	0.000%	—	$10.9M	—	as long as short
Backpack ZRO_USDC_PERP	+0.0100%	1h	1.1842	+0.025%	$91K	$210K	20x	as long as short
Variational Omni ZRO	+0.0100%	4h	1.1785	−0.455%	$2.2M	$897K	—	as long as short
ApeX Omni ZROUSDT	+0.0100%	1h	1.1800	−0.329%	$37K	$682K	50x	as long as short
Polymarket Perps ZRO-USD	+0.0100%	1h	1.1843	+0.034%	$83K	$1.0M	5x	as long as short
Extended ZRO-USD	+0.0104%	1h	1.1836	−0.030%	$784K	$561K	10x	as long as short
Aevo ZRO-PERP	+0.0104%	1h	1.1848	+0.078%	$21K	—	3x	as long as short
01 Exchange ZROUSD	+0.0176%	1h	1.1851	+0.098%	$7K	$3K	5x	as long as short
Nado ZRO-PERP	+0.0232%	1h	1.1836	−0.029%	$1.3M	$134K	5x	as long as short
GMX ZRO/USD [ETH-USDC]short	L +0.0291% / S −0.2341%	1h	1.1835	−0.038%	$3K	—	100x
Lighter ZRO	+0.0928%	1h	1.1875	+0.303%	$4.8M	$1.1M	5x	as long as short
Injective ZRO/USDC PERP	+0.1022%	1h	1.1850	+0.093%	$12K	$121K	12x	as long as short