Funding you earn now, next payment 11:00 UTC−0.0681%/8h= −74.6% APRpaid last 24h −0.004%
Price spread now: KuCoin against Backpack+0.017%7-day average +0.003% · you sell dearer than you buy
Net, funding: paid 7d − costs−$79as in the Funding arb table
Net, price: spread back to 7d avg − costs−$89as in the Price arb table
costs, in and out, $10k−$900.905% of the position
Funding, last 7 days+0.119%+$12 on $10k
+Price spread, last 4 days (all we have)−0.003%$0 · spread now +0.017%, 7d avg +0.003%
=The price spread sits at its 7-day average of +0.003%, so right now this pair is about funding alone: −$20 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.119%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.119% in total (about 6.2% 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 | Backpack ZRO_USDC_PERP | 1.1838 | 0.0781 | pay 0.0098% / 1h | 55m 51s | $94K | $215K | 20x |
| Short | KuCoin ZROUSDTM | 1.1840 | 0.0100 | get 0.0050% / 4h | 1h 55m | $2.3M | $2.3M | 50x |
Backpack ZRO_USDC_PERP
KuCoin ZROUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin 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
- −$143.02
- Price spread: +0.017% → +0.003%
- $1.43
- Slippage, 4 orders
- −$68.47
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$232.06
- Costs to cover
- 0.905%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 55 min ago; KuCoin: live order book, 4 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, 55 min ago | 0.42 bp | 6.2 bp −$6 | doesn't fit | doesn't fit | doesn't fit |
| Sell KuCoin live order book, 4 min ago | 8.04 bp | 42.2 bp −$42 | 113.5 bp −$1,135 | 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 | −0.659% | $12K | $257K | 12x | as long as short |
| Kraken Futures PF_ZROUSD | −0.0529% | 1h | 1.1837 | −0.009% | $269K | $211K | 25x | as long as short |
| 01 Exchange ZROUSD | −0.0040% | 1h | 1.1838 | +0.003% | $4K | $5K | 5x | as long as short |
| Bybit ZROUSDT | −0.0029% | 4h | 1.1821 | −0.144% | $18.1M | $11.7M | 50x | as long as short |
| Orderly PERP_ZRO_USDC | −0.0020% | 4h | 1.1830 | −0.068% | $20K | $2K | 10x | as long as short |
| dYdX ZRO-USD | 0.0000% | 1h | 1.1837 | −0.010% | $21K | $5K | 5x | as long as short |
| OKX ZRO-USDT-SWAP | +0.0011% | 4h | 1.1832 | −0.051% | $3.2M | $7.5M | 20x | as long as short |
| BloFin ZRO-USDT | +0.0056% | 4h | 1.1832 | −0.051% | $1.0M | $142K | 75x | as long as short |
| Lighter ZRO | +0.0096% | 1h | 1.1848 | +0.089% | $4.4M | $1.1M | 5x | as long as short |
| Hyperliquid ZRO | +0.0100% | 1h | 1.1849 | +0.093% | $37.5M | $5.0M | 5x | as long as short |
Injective ZRO/USDC PERP
Kraken Futures PF_ZROUSD
01 Exchange ZROUSD
Bybit ZROUSDT
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 | 1.1844 | +0.051% | $160K | $124K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1840 | +0.015% | $137K | $143K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1834 | −0.034% | $22.1M | $26.8M | 75x | as long as short |
| Gate ZRO_USDT | +0.0100% | 4h | 1.1830 | −0.068% | $1.4M | $1.1M | 75x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1830 | −0.068% | $9.5M | $2.4M | 125x | as long as short |
| KuCoin ZROUSDTMshort | +0.0100% | 4h | 1.1840 | +0.017% | $2.3M | $2.3M | 50x | |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1839 | +0.008% | $2.8M | $2.3M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1834 | −0.034% | — | $25.2M | — | as long as short |
| Variational Omni ZRO | +0.0100% | 4h | 1.1803 | −0.298% | $2.3M | $733K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1820 | −0.152% | $40K | $669K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1837 | −0.008% | $101K | $728K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1837 | −0.007% | $21K | — | 3x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0293% / S −0.2341% | 1h | 1.1839 | +0.007% | $3K | — | 100x | as long as short |
| Nado ZRO-PERP | +0.0320% | 1h | 1.1840 | +0.016% | $1.4M | $121K | 5x | as long as short |
| Extended ZRO-USD | +0.0328% | 1h | 1.1833 | −0.042% | $807K | $650K | 10x | as long as short |
| Backpack ZRO_USDC_PERPlong | +0.0781% | 1h | 1.1838 | long leg | $94K | $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
GMX ZRO/USD [ETH-USDC]
Nado ZRO-PERP
Extended ZRO-USD