Settings8H · net · $10k
Funding arb · Price arb /

ZRO

all ZRO markets
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Alert: funding
Alert: spread
Funding you earn now, next payment 01:00 UTC+0.2129%/8h= +233.2% APRpaid last 24h +0.103%
Price spread now: Injective against Bybit+0.357%98s7-day average +0.033% · you sell dearer than you buy
Net, funding: paid 7d − costs−$137as in the Funding arb table
Net, price: spread back to 7d avg − costsprices read too far apart to compare
costs, in and out, $10k−$1131.130% of the position
What this pair did over the last
the charts below follow
Funding, last 7 days−0.243%−$24 on $10k
Price spread, last 3 days (all we have)−1.003%−$100 · spread now +0.357%, 7d avg +0.033%
Together, before fees−1.246%−$125 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$64 a day on $10k at the current rate, and Injective is 0.323% dearer against Bybit than usual: you sell high and buy low: +$32 more if the spread goes back to its 7-day average of +0.033%. Mind the row above: over the last 7 days funding on this pair cost −0.243%, so the current rate has only just turned in your favour. The two prices were read 98 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.243% in total (about -12.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit ZROUSDT1.1778−0.0940get 0.0470% / 4h3h 55m$18.0M$14.3M50x
ShortInjective ZRO/USDC PERP1.18200.1190get 0.0149% / 1h55m 40s$12K$260K12x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Injective against Bybit. 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

Funding earned
$447.19
Price spread: +0.357% → +0.033%
$32.33
Slippage, 4 orders
−$102.03
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee Injective: 0.01 bp × 2 orders
−$0.02
Net
$366.47
Costs to cover
1.130%
Break-even
1.3 days
Slippage from Bybit: live order book, 3 min ago; Injective: live order book, 18 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Bybit live order book, 3 min ago1.70 bp18.0 bp −$1846.1 bp −$461doesn't fitdoesn't fit
Sell Injective live order book, 18 min ago34.04 bp44.6 bp −$45doesn't fitdoesn't fitdoesn't fit

ZRO on 26 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bybit ZROUSDTlong−0.0940%4h1.1778long leg$18.0M$14.3M50x
01 Exchange ZROUSD−0.0272%1h1.1800+0.183%$7K$3K5xas long as short
dYdX ZRO-USD0.0000%1h1.1768−0.084%$21K$3K5xas long as short
Orderly PERP_ZRO_USDC+0.0012%4h1.1791+0.110%$21K$7K10xas long as short
Lighter ZRO+0.0096%1h1.1776−0.021%$4.4M$1.5M5xas long as short
Hyperliquid ZRO+0.0100%1h1.1772−0.051%$37.3M$6.1M5xas long as short
Aster ZROUSDT+0.0100%4h1.1793+0.129%$158K$149K10xas long as short
Pacifica ZRO+0.0100%1h1.1762−0.140%$136K$172K5xas long as short
Binance ZROUSDT+0.0100%4h1.1768−0.087%$22.1M$30.6M75xas long as short
OKX ZRO-USDT-SWAP+0.0100%4h1.1753−0.212%$3.2M$8.1M20xas long as short
Show all 26 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Gate ZRO_USDT+0.0100%4h1.1780+0.017%$1.4M$1.5M75xas long as short
MEXC ZRO_USDT+0.0100%4h1.1761−0.144%$19.1M$2.7M125xas long as short
KuCoin ZROUSDTM+0.0100%4h1.1773−0.042%$2.4M$1.9M50xas long as short
Bitget ZROUSDT+0.0100%4h1.1750−0.238%$2.7M$2.4M75xas long as short
BingX ZRO-USDT+0.0100%4h1.1785+0.059%$10.7Mas long as short
Variational Omni ZRO+0.0100%4h1.1797+0.165%$2.3M$876Kas long as short
ApeX Omni ZROUSDT+0.0100%1h1.1780+0.017%$37K$687K50xas long as short
Polymarket Perps ZRO-USD+0.0100%1h1.1801+0.195%$92K$830K5xas long as short
Aevo ZRO-PERP+0.0104%1h1.1775−0.024%$21K3xas long as short
BloFin ZRO-USDT+0.0125%4h1.1771−0.059%$1.1M$256K75xas long as short
Nado ZRO-PERP+0.0194%1h1.1790+0.106%$1.3M$123K5xas long as short
GMX ZRO/USD [ETH-USDC]L +0.0292% / S −0.2341%1h1.1793+0.129%$3K100xas long as short
Kraken Futures PF_ZROUSD+0.0301%1h1.1814+0.309%$253K$413K25xas long as short
Backpack ZRO_USDC_PERP+0.0554%1h1.1804+0.221%$98K$204K20xas long as short
Injective ZRO/USDC PERPshort+0.1190%1h1.1820+0.357%$12K$260K12x
Extended ZRO-USD+0.1536%1h1.1783+0.040%$784K$589K10xas long as short