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 − costs—prices read too far apart to compare
costs, in and out, $10k−$1131.130% of the position
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%
=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.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit ZROUSDT | 1.1778 | −0.0940 | get 0.0470% / 4h | 3h 55m | $18.0M | $14.3M | 50x |
| Short | Injective ZRO/USDC PERP | 1.1820 | 0.1190 | get 0.0149% / 1h | 55m 40s | $12K | $260K | 12x |
Bybit ZROUSDT
Injective ZRO/USDC PERPFunding 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 itlatest
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| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Bybit live order book, 3 min ago | 1.70 bp | 18.0 bp −$18 | 46.1 bp −$461 | doesn't fit | doesn't fit |
| Sell Injective live order book, 18 min ago | 34.04 bp | 44.6 bp −$45 | doesn't fit | doesn't fit | doesn't fit |
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 | |
|---|---|---|---|---|---|---|---|---|
| Bybit ZROUSDTlong | −0.0940% | 4h | 1.1778 | long leg | $18.0M | $14.3M | 50x | |
| 01 Exchange ZROUSD | −0.0272% | 1h | 1.1800 | +0.183% | $7K | $3K | 5x | as long as short |
| dYdX ZRO-USD | 0.0000% | 1h | 1.1768 | −0.084% | $21K | $3K | 5x | as long as short |
| Orderly PERP_ZRO_USDC | +0.0012% | 4h | 1.1791 | +0.110% | $21K | $7K | 10x | as long as short |
| Lighter ZRO | +0.0096% | 1h | 1.1776 | −0.021% | $4.4M | $1.5M | 5x | as long as short |
| Hyperliquid ZRO | +0.0100% | 1h | 1.1772 | −0.051% | $37.3M | $6.1M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1793 | +0.129% | $158K | $149K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1762 | −0.140% | $136K | $172K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1768 | −0.087% | $22.1M | $30.6M | 75x | as long as short |
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1753 | −0.212% | $3.2M | $8.1M | 20x | as long as short |
01 Exchange ZROUSD
dYdX ZRO-USD
Orderly PERP_ZRO_USDC
Lighter ZRO
Hyperliquid ZRO
Aster ZROUSDT
Pacifica ZRO
Binance 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 | 1.1780 | +0.017% | $1.4M | $1.5M | 75x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1761 | −0.144% | $19.1M | $2.7M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1773 | −0.042% | $2.4M | $1.9M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1750 | −0.238% | $2.7M | $2.4M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1785 | +0.059% | — | $10.7M | — | as long as short |
| Variational Omni ZRO | +0.0100% | 4h | 1.1797 | +0.165% | $2.3M | $876K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1780 | +0.017% | $37K | $687K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1801 | +0.195% | $92K | $830K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1775 | −0.024% | $21K | — | 3x | as long as short |
| BloFin ZRO-USDT | +0.0125% | 4h | 1.1771 | −0.059% | $1.1M | $256K | 75x | as long as short |
| Nado ZRO-PERP | +0.0194% | 1h | 1.1790 | +0.106% | $1.3M | $123K | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0292% / S −0.2341% | 1h | 1.1793 | +0.129% | $3K | — | 100x | as long as short |
| Kraken Futures PF_ZROUSD | +0.0301% | 1h | 1.1814 | +0.309% | $253K | $413K | 25x | as long as short |
| Backpack ZRO_USDC_PERP | +0.0554% | 1h | 1.1804 | +0.221% | $98K | $204K | 20x | as long as short |
| Injective ZRO/USDC PERPshort | +0.1190% | 1h | 1.1820 | +0.357% | $12K | $260K | 12x | |
| Extended ZRO-USD | +0.1536% | 1h | 1.1783 | +0.040% | $784K | $589K | 10x | 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
BloFin ZRO-USDT
Nado ZRO-PERP
GMX ZRO/USD [ETH-USDC]
Kraken Futures PF_ZROUSD
Backpack ZRO_USDC_PERP
Extended ZRO-USD