Funding you earn now, next payment 06:00 UTC+0.0095%/8h= +10.4% APRpaid last 24h +0.006%
Price spread now: BingX against Backpack+0.034%7-day average −0.034% · you sell dearer than you buy
Net, funding: paid 7d − costs−$13as in the Funding arb table
Net, price: spread back to 7d avg − costs−$23as in the Price arb table
costs, in and out, $10k−$300.298% of the position
Funding, last 7 days+0.166%+$17 on $10k
+Price spread, last 4 days (all we have)−0.028%−$3 · spread now +0.034%, 7d avg −0.034%
=Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and BingX is 0.068% dearer against Backpack than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.034%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack ZRO_USDC_PERP | 1.1636 | 0.0005 | pay 0.0001% / 1h | 55m 10s | $93K | $219K | 20x |
| Short | BingX ZRO-USDT | 1.1640 | 0.0100 | get 0.0050% / 4h | 2h 55m | — | $16.6M | — |
Backpack ZRO_USDC_PERP
BingX ZRO-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX against Backpack. 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
- $19.98
- Price spread: +0.034% → −0.034%
- $6.84
- Slippage, 4 orders
- −$9.81
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$3
- Costs to cover
- 0.298%
- Break-even
- 8.1 days
Slippage from Backpack: live order book, 58 min ago; BingX: live order book, 3 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 Backpack live order book, 58 min ago | 0.42 bp | 6.4 bp −$6 | doesn't fit | doesn't fit | doesn't fit |
| Sell BingX live order book, 3 min ago | 2.15 bp | 7.4 bp −$7 | 11.0 bp −$110 | 30.3 bp −$3,031 | 59.7 bp −$29.9K |
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 | 0.0000% | 1h | 1.1639 | +0.023% | $21K | $4K | 5x | as long as short |
| Backpack ZRO_USDC_PERPlong | +0.0005% | 1h | 1.1636 | long leg | $93K | $219K | 20x | |
| Orderly PERP_ZRO_USDC | +0.0058% | 4h | 1.1639 | +0.026% | $20K | $4K | 10x | as long as short |
| Lighter ZRO | +0.0096% | 1h | 1.1661 | +0.212% | $4.3M | $1.2M | 5x | as long as short |
| Hyperliquid ZRO | +0.0100% | 1h | 1.1653 | +0.150% | $37.0M | $5.5M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1659 | +0.194% | $157K | $150K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1651 | +0.125% | $137K | $180K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1643 | +0.058% | $21.8M | $29.6M | 75x | as long as short |
| Bybit ZROUSDT | +0.0100% | 4h | 1.1638 | +0.017% | $17.8M | $13.6M | 50x | as long as short |
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1639 | +0.026% | $3.2M | $7.9M | 20x | as long as short |
dYdX ZRO-USD
Orderly PERP_ZRO_USDC
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 | 1.1640 | +0.034% | $1.3M | $1.5M | 75x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1647 | +0.095% | $19.1M | $2.7M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1638 | +0.017% | $2.3M | $2.0M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1643 | +0.060% | $2.7M | $2.6M | 75x | as long as short |
| BingX ZRO-USDTshort | +0.0100% | 4h | 1.1640 | +0.034% | — | $16.6M | — | |
| Variational Omni ZRO | +0.0100% | 4h | 1.1670 | +0.296% | $2.3M | $809K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1690 | +0.464% | $39K | $676K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1637 | +0.009% | $99K | $825K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1630 | −0.051% | $21K | — | 3x | as long as short |
| 01 Exchange ZROUSD | +0.0144% | 1h | 1.1641 | +0.043% | $7K | $3K | 5x | as long as short |
| BloFin ZRO-USDT | +0.0146% | 4h | 1.1634 | −0.017% | $1.1M | $247K | 75x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0292% / S −0.2341% | 1h | 1.1632 | −0.034% | $3K | — | 100x | as long as short |
| Nado ZRO-PERP | +0.0299% | 1h | 1.1634 | −0.020% | $1.3M | $126K | 5x | as long as short |
| Kraken Futures PF_ZROUSD | +0.0706% | 1h | 1.1648 | +0.103% | $254K | $356K | 25x | as long as short |
| Extended ZRO-USD | +0.1032% | 1h | 1.1635 | −0.005% | $800K | $625K | 10x | as long as short |
| Injective ZRO/USDC PERP | +0.1343% | 1h | 1.1740 | +0.894% | $12K | $260K | 12x | as long as short |
Gate ZRO_USDT
MEXC ZRO_USDT
KuCoin ZROUSDTM
Bitget ZROUSDT
Variational Omni ZRO
ApeX Omni ZROUSDT
Polymarket Perps ZRO-USD
Aevo ZRO-PERP
01 Exchange ZROUSD
BloFin ZRO-USDT
GMX ZRO/USD [ETH-USDC]
Nado ZRO-PERP
Kraken Futures PF_ZROUSD
Extended ZRO-USD
Injective ZRO/USDC PERP