Funding arb · Price arb /

ZRO

all ZRO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.2241%/8h= +245.4% APRpaid last 24h +1.051%

Price spread now: GMX against BingX−0.064%7-day average — · you buy dearer than you sell

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

Long on BingX 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 0.064% cheaper against BingX than usual: you would sell low and buy high (spread −0.064% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 2 hours of funding at the current rate (+$67 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ZRO-USDT	1.1760	0.0100	pay 0.0050% / 4h	3h 54m	—	$10.7M	—
Short	GMX ZRO/USD [ETH-USDC]	1.1753	L +0.0291% / S −0.2341%	get 0.0293% / 1h	54m 44s	$3K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against BingX. 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 BingXbpFee GMXbpOrdersPrice spread, now −0.064%Rate

Funding earned: $470.65
Price spread: −0.064% → 0.000%: −$6.37
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $442.28
Costs to cover: 0.220%
Break-even: 0.4 days

Slippage unknown: BingX: live order book, 3 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 BingX live order book, 3 min ago	2.12 bp	8.6 bp −$9	12.1 bp −$121	23.9 bp −$2,390	48.0 bp −$24.0K
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
Gate ZRO_USDT	−0.0440%	4h	1.1750	−0.085%	$1.4M	$1.5M	75x	as long as short
ApeX Omni ZROUSDT	−0.0347%	1h	1.1790	+0.255%	$37K	$687K	50x	as long as short
Bybit ZROUSDT	−0.0293%	4h	1.1758	−0.017%	$17.9M	$14.3M	50x	as long as short
01 Exchange ZROUSD	−0.0232%	1h	1.1770	+0.083%	$7K	$3K	5x	as long as short
dYdX ZRO-USD	0.0000%	1h	1.1768	+0.071%	$21K	$3K	5x	as long as short
Orderly PERP_ZRO_USDC	+0.0011%	4h	1.1748	−0.102%	$21K	$7K	10x	as long as short
Lighter ZRO	+0.0096%	1h	1.1767	+0.062%	$4.4M	$1.5M	5x	as long as short
Hyperliquid ZRO	+0.0100%	1h	1.1765	+0.044%	$37.3M	$5.9M	5x	as long as short
Aster ZROUSDT	+0.0100%	4h	1.1767	+0.057%	$157K	$149K	10x	as long as short
Pacifica ZRO	+0.0100%	1h	1.1761	+0.011%	$136K	$172K	5x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ZROUSDT	+0.0100%	4h	1.1764	+0.036%	$22.1M	$30.6M	75x	as long as short
OKX ZRO-USDT-SWAP	+0.0100%	4h	1.1762	+0.017%	$3.2M	$8.1M	20x	as long as short
MEXC ZRO_USDT	+0.0100%	4h	1.1766	+0.051%	$19.1M	$2.7M	125x	as long as short
KuCoin ZROUSDTM	+0.0100%	4h	1.1758	−0.017%	$2.4M	$1.9M	50x	as long as short
Bitget ZROUSDT	+0.0100%	4h	1.1770	+0.085%	$2.7M	$2.4M	75x	as long as short
BingX ZRO-USDTlong	+0.0100%	4h	1.1760	long leg	—	$10.7M	—
Variational Omni ZRO	+0.0100%	4h	1.1797	+0.318%	$2.3M	$876K	—	as long as short
Polymarket Perps ZRO-USD	+0.0100%	1h	1.1755	−0.043%	$91K	$830K	5x	as long as short
Aevo ZRO-PERP	+0.0104%	1h	1.1759	−0.012%	$21K	—	3x	as long as short
BloFin ZRO-USDT	+0.0158%	4h	1.1749	−0.094%	$1.1M	$256K	75x	as long as short
Nado ZRO-PERP	+0.0247%	1h	1.1747	−0.112%	$1.3M	$123K	5x	as long as short
GMX ZRO/USD [ETH-USDC]short	L +0.0291% / S −0.2341%	1h	1.1753	−0.064%	$3K	—	100x
Kraken Futures PF_ZROUSD	+0.0302%	1h	1.1767	+0.061%	$252K	$411K	25x	as long as short
Backpack ZRO_USDC_PERP	+0.0507%	1h	1.1758	−0.017%	$97K	$204K	20x	as long as short
Injective ZRO/USDC PERP	+0.1190%	1h	1.1820	+0.510%	$12K	$260K	12x	as long as short
Extended ZRO-USD	+0.1512%	1h	1.1767	+0.060%	$784K	$589K	10x	as long as short