Funding you earn now, next payment 01:00 UTC+0.0561%/8h= +61.5% APRnext payment +$0.70 per $10,000 · paid last 24h +0.054%
Price spread now: Backpack against 01 Exchange+0.095%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
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
Both sides work for this trade now. Funding pays +$17 a day on $10k at the current rate, and Backpack is 0.095% dearer against 01 Exchange than usual: you sell high and buy low: +$10 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | 01 Exchange ZROUSD | 1.1844 | −0.0112 | get 0.0014% / 1h | 6m 47s | $7K | $3K | 5x |
| Short | Backpack ZRO_USDC_PERP | 1.1855 | 0.0449 | get 0.0056% / 1h | 6m 47s | $98K | $207K | 20x |
01 Exchange ZROUSD
Backpack ZRO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against 01 Exchange. 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
- $117.88
- Price spread: +0.095% → 0.000%
- $9.54
- Slippage, 4 orders
- no order book: not counted
- Fee 01 Exchange: 3.5 bp × 2 orders
- −$7
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $110.42
- Costs to cover
- 0.170%
- Break-even
- 0.4 days
Slippage unknown: 01 Exchange: no order-book sample; Backpack: live order book, 1 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 01 Exchange no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 1 min ago | 0.42 bp | 9.0 bp −$9 | doesn't fit | doesn't fit | doesn't fit |
01 Exchange: 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 ZROUSDlong | −0.0112% | 1h | 1.1844 | long leg | $7K | $3K | 5x | |
| Orderly PERP_ZRO_USDC | +0.0010% | 4h | 1.1854 | +0.087% | $21K | $6K | 10x | as long as short |
| BloFin ZRO-USDT | +0.0059% | 4h | 1.1857 | +0.112% | $1.1M | $258K | 75x | as long as short |
| Lighter ZRO | +0.0096% | 1h | 1.1852 | +0.070% | $4.4M | $1.5M | 5x | as long as short |
| Hyperliquid ZRO | +0.0100% | 1h | 1.1843 | −0.006% | $37.5M | $5.6M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1845 | +0.013% | $158K | $149K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1831 | −0.111% | $137K | $168K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1829 | −0.121% | $22.2M | $30.1M | 75x | as long as short |
| Bybit ZROUSDT | +0.0100% | 4h | 1.1829 | −0.124% | $18.1M | $14.0M | 50x | as long as short |
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1822 | −0.183% | $3.2M | $8.0M | 20x | as long as short |
Orderly PERP_ZRO_USDC
BloFin ZRO-USDT
Lighter ZRO
Hyperliquid ZRO
Aster ZROUSDT
Pacifica ZRO
Binance ZROUSDT
Bybit ZROUSDT
OKX ZRO-USDT-SWAPShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate ZRO_USDT | +0.0100% | 4h | 1.1830 | −0.116% | $1.4M | $1.5M | 75x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1827 | −0.141% | $19.2M | $2.7M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1846 | +0.019% | $2.4M | $1.9M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1836 | −0.065% | $2.7M | $2.4M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1834 | −0.082% | — | $16.5M | — | as long as short |
| Variational Omni ZRO | +0.0100% | 4h | 1.1845 | +0.011% | $2.3M | $853K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1870 | +0.222% | $37K | $686K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1860 | +0.138% | $93K | $840K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1850 | +0.053% | $21K | — | 3x | as long as short |
| dYdX ZRO-USD | +0.0185% | 1h | 1.1844 | +0.006% | $21K | $3K | 5x | as long as short |
| Nado ZRO-PERP | +0.0286% | 1h | 1.1856 | +0.108% | $1.4M | $127K | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0292% / S −0.2341% | 1h | 1.1860 | +0.142% | $3K | — | 100x | as long as short |
| Kraken Futures PF_ZROUSD | +0.0299% | 1h | 1.1869 | +0.217% | $254K | $408K | 25x | as long as short |
| Backpack ZRO_USDC_PERPshort | +0.0449% | 1h | 1.1855 | +0.095% | $98K | $207K | 20x | |
| Extended ZRO-USD | +0.1160% | 1h | 1.1829 | −0.122% | $792K | $613K | 10x | as long as short |
| Injective ZRO/USDC PERP | +0.1190% | 1h | 1.1920 | +0.644% | $12K | $260K | 12x | as long as short |
Gate ZRO_USDT
MEXC ZRO_USDT
KuCoin ZROUSDTM
Bitget ZROUSDT
BingX ZRO-USDT
Variational Omni ZRO
ApeX Omni ZROUSDT
Polymarket Perps ZRO-USD
Aevo ZRO-PERP
dYdX ZRO-USD
Nado ZRO-PERP
GMX ZRO/USD [ETH-USDC]
Kraken Futures PF_ZROUSD
Extended ZRO-USD
Injective ZRO/USDC PERP