Funding you earn now, next payment 04:00 UTC+0.0063%/8h= +6.9% APRnext payment +$0.31 per $10,000 · paid last 24h +0.039%
Price spread now: Bybit against Orderly−0.188%50s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 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. Bybit is 0.188% cheaper against Orderly than usual: you would sell low and buy high (spread −0.188% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$19 on $10k: about 10.0 days of funding at the current rate (+$2 a day). The two prices were read 50 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 | Orderly PERP_ZRO_USDC | 1.1686 | 0.0037 | pay 0.0019% / 4h | 1h 08m | $20K | $5K | 10x |
| Short | Bybit ZROUSDT | 1.1664 | 0.0100 | get 0.0050% / 4h | 1h 08m | $17.8M | $14.0M | 50x |
Orderly PERP_ZRO_USDC
Bybit ZROUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Orderly. 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
- $13.22
- Price spread: −0.188% → 0.000%
- −$18.83
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$22.61
- Costs to cover
- 0.170%
- Break-even
- 19.0 days
Slippage unknown: Orderly: no order-book sample; Bybit: live order book, 5 min ago. 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Bybit live order book, 5 min ago | 0.43 bp | 15.9 bp −$16 | 41.7 bp −$417 | doesn't fit | doesn't fit |
Orderly: 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 | |
|---|---|---|---|---|---|---|---|---|
| 01 Exchange ZROUSD | −0.0240% | 1h | 1.1679 | −0.057% | $7K | $3K | 5x | as long as short |
| Orderly PERP_ZRO_USDClong | +0.0037% | 4h | 1.1686 | long leg | $20K | $5K | 10x | |
| dYdX ZRO-USD | +0.0046% | 1h | 1.1685 | −0.005% | $21K | $3K | 5x | as long as short |
| Lighter ZRO | +0.0096% | 1h | 1.1699 | +0.113% | $4.4M | $1.2M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1684 | −0.016% | $157K | $150K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1683 | −0.024% | $136K | $177K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1674 | −0.102% | $21.8M | $29.8M | 75x | as long as short |
| Bybit ZROUSDTshort | +0.0100% | 4h | 1.1664 | −0.188% | $17.8M | $14.0M | 50x | |
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1676 | −0.086% | $3.2M | $7.9M | 20x | as long as short |
| Gate ZRO_USDT | +0.0100% | 4h | 1.1690 | +0.034% | $1.3M | $1.5M | 75x | as long as short |
01 Exchange ZROUSD
dYdX ZRO-USD
Lighter 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 | 1.1681 | −0.043% | $19.1M | $2.7M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1682 | −0.034% | $2.3M | $2.0M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1668 | −0.154% | $2.7M | $2.5M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1673 | −0.111% | — | $16.4M | — | as long as short |
| Backpack ZRO_USDC_PERP | +0.0100% | 1h | 1.1687 | +0.009% | $96K | $195K | 20x | as long as short |
| Variational Omni ZRO | +0.0100% | 4h | 1.1699 | +0.109% | $2.3M | $810K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1730 | +0.377% | $39K | $673K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1686 | 0.000% | $99K | $846K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1688 | +0.016% | $21K | — | 3x | as long as short |
| BloFin ZRO-USDT | +0.0120% | 4h | 1.1678 | −0.068% | $1.1M | $248K | 75x | as long as short |
| Kraken Futures PF_ZROUSD | +0.0198% | 1h | 1.1696 | +0.086% | $257K | $407K | 25x | as long as short |
| Nado ZRO-PERP | +0.0216% | 1h | 1.1673 | −0.115% | $1.3M | $124K | 5x | as long as short |
| Hyperliquid ZRO | +0.0262% | 1h | 1.1697 | +0.092% | $37.0M | $5.4M | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0292% / S −0.2341% | 1h | 1.1687 | +0.007% | $3K | — | 100x | as long as short |
| Extended ZRO-USD | +0.0840% | 1h | 1.1674 | −0.100% | $780K | $591K | 10x | as long as short |
| Injective ZRO/USDC PERP | +0.1102% | 1h | 1.1750 | +0.548% | $12K | $260K | 12x | as long as short |
MEXC ZRO_USDT
KuCoin ZROUSDTM
Bitget ZROUSDT
BingX ZRO-USDT
Backpack ZRO_USDC_PERP
Variational Omni ZRO
ApeX Omni ZROUSDT
Polymarket Perps ZRO-USD
Aevo ZRO-PERP
BloFin ZRO-USDT
Kraken Futures PF_ZROUSD
Nado ZRO-PERP
Hyperliquid ZRO
GMX ZRO/USD [ETH-USDC]
Extended ZRO-USD
Injective ZRO/USDC PERP