Funding arb · Price arb /

ZRO

all ZRO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.019%

Price spread now: Variational Omni against dYdX−0.498%7-day average — · you buy dearer than you sell

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

Long on dYdX Short on Variational Omni

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—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Variational Omni is 0.498% cheaper against dYdX than usual: you would sell low and buy high (spread −0.498% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$50 on $10k: about 17 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ZRO-USD	1.1748	0	get 0.0000% / 1h	43m 05s	$21K	$3K	5x
Short	Variational Omni ZRO	1.1690	0.0100	get 0.0050% / 4h	2h 43m	$2.3M	$837K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against dYdX. 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 dYdXbpFee Variational OmnibpOrdersPrice spread, now −0.498%Rate

Funding earned: $21
Price spread: −0.498% → 0.000%: −$49.84
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$38.84
Costs to cover: 0.100%
Break-even: 19.9 days

Slippage unknown: dYdX: no order-book sample; Variational Omni: RFQ quote, 1 min ago. 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 dYdX no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 1 min ago	4.49 bp	doesn't fit	41.5 bp −$415	doesn't fit	doesn't fit

dYdX: 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
01 Exchange ZROUSD	−0.0248%	1h	1.1730	−0.156%	$7K	$3K	5x	as long as short
dYdX ZRO-USDlong	0.0000%	1h	1.1748	long leg	$21K	$3K	5x
Orderly PERP_ZRO_USDC	+0.0016%	4h	1.1725	−0.198%	$21K	$6K	10x	as long as short
Lighter ZRO	+0.0096%	1h	1.1746	−0.016%	$4.4M	$1.2M	5x	as long as short
Gate ZRO_USDT	+0.0096%	4h	1.1720	−0.240%	$1.3M	$1.5M	75x	as long as short
Hyperliquid ZRO	+0.0100%	1h	1.1723	−0.214%	$37.1M	$5.5M	5x	as long as short
Aster ZROUSDT	+0.0100%	4h	1.1730	−0.158%	$157K	$149K	10x	as long as short
Pacifica ZRO	+0.0100%	1h	1.1736	−0.101%	$136K	$168K	5x	as long as short
Binance ZROUSDT	+0.0100%	4h	1.1687	−0.520%	$21.9M	$29.9M	75x	as long as short
Bybit ZROUSDT	+0.0100%	4h	1.1687	−0.521%	$17.9M	$14.1M	50x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ZRO-USDT-SWAP	+0.0100%	4h	1.1688	−0.513%	$3.2M	$7.9M	20x	as long as short
MEXC ZRO_USDT	+0.0100%	4h	1.1720	−0.240%	$19.1M	$2.7M	125x	as long as short
KuCoin ZROUSDTM	+0.0100%	4h	1.1730	−0.155%	$2.3M	$1.9M	50x	as long as short
Bitget ZROUSDT	+0.0100%	4h	1.1727	−0.181%	$2.7M	$2.5M	75x	as long as short
BingX ZRO-USDT	+0.0100%	4h	1.1713	−0.300%	—	$16.5M	—	as long as short
Backpack ZRO_USDC_PERP	+0.0100%	1h	1.1718	−0.257%	$97K	$213K	20x	as long as short
Variational Omni ZROshort	+0.0100%	4h	1.1690	−0.498%	$2.3M	$837K	—
ApeX Omni ZROUSDT	+0.0100%	1h	1.1730	−0.155%	$39K	$684K	50x	as long as short
Polymarket Perps ZRO-USD	+0.0100%	1h	1.1739	−0.079%	$92K	$841K	5x	as long as short
Aevo ZRO-PERP	+0.0104%	1h	1.1735	−0.115%	$21K	—	3x	as long as short
BloFin ZRO-USDT	+0.0132%	4h	1.1753	+0.041%	$1.1M	$253K	75x	as long as short
Nado ZRO-PERP	+0.0201%	1h	1.1739	−0.081%	$1.3M	$126K	5x	as long as short
GMX ZRO/USD [ETH-USDC]	L +0.0292% / S −0.2341%	1h	1.1737	−0.094%	$3K	—	100x	as long as short
Kraken Futures PF_ZROUSD	+0.0370%	1h	1.1739	−0.082%	$252K	$407K	25x	as long as short
Extended ZRO-USD	+0.0992%	1h	1.1721	−0.236%	$784K	$593K	10x	as long as short
Injective ZRO/USDC PERP	+0.1213%	1h	1.1770	+0.185%	$12K	$260K	12x	as long as short