Funding arb · Price arb /

ZRO

all ZRO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0978%/8h= −107.1% APRpaid last 24h −0.153%

Price spread now: Orderly against Extended+0.061%7-day average — · you sell dearer than you buy

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

Long on Extended Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropExtended: Active · farm boardneeds both histories

The price spread pays, funding is against you. Orderly is 0.061% dearer against Extended than usual: you sell high and buy low (spread +0.061% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$29 a day in funding at the current rate, which eats that in about 5 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ZRO-USD	1.1677	0.0992	pay 0.0124% / 1h	45m 20s	$784K	$593K	10x
Short	Orderly PERP_ZRO_USDC	1.1684	0.0014	get 0.0007% / 4h	2h 45m	$20K	$6K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Extended. 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 ExtendedbpFee OrderlybpOrdersPrice spread, now +0.061%Rate

Funding earned: −$205.44
Price spread: +0.061% → 0.000%: $6.13
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$210.31
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Extended: live order book, 23 min ago; Orderly: 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 Extended live order book, 23 min ago	11.35 bp	685.8 bp −$686	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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	−0.0216%	1h	1.1674	−0.022%	$7K	$3K	5x	as long as short
dYdX ZRO-USD	0.0000%	1h	1.1693	+0.140%	$21K	$3K	5x	as long as short
Orderly PERP_ZRO_USDCshort	+0.0014%	4h	1.1684	+0.061%	$20K	$6K	10x
Gate ZRO_USDT	+0.0090%	4h	1.1680	+0.027%	$1.3M	$1.5M	75x	as long as short
Lighter ZRO	+0.0096%	1h	1.1704	+0.233%	$4.4M	$1.2M	5x	as long as short
Hyperliquid ZRO	+0.0100%	1h	1.1703	+0.224%	$37.1M	$5.5M	5x	as long as short
Aster ZROUSDT	+0.0100%	4h	1.1704	+0.230%	$157K	$149K	10x	as long as short
Pacifica ZRO	+0.0100%	1h	1.1697	+0.173%	$136K	$168K	5x	as long as short
Binance ZROUSDT	+0.0100%	4h	1.1678	+0.011%	$21.9M	$29.9M	75x	as long as short
Bybit ZROUSDT	+0.0100%	4h	1.1678	+0.010%	$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	1.1693	+0.138%	$3.2M	$7.9M	20x	as long as short
MEXC ZRO_USDT	+0.0100%	4h	1.1688	+0.096%	$19.0M	$2.7M	125x	as long as short
KuCoin ZROUSDTM	+0.0100%	4h	1.1698	+0.181%	$2.3M	$1.9M	50x	as long as short
Bitget ZROUSDT	+0.0100%	4h	1.1684	+0.061%	$2.7M	$2.5M	75x	as long as short
BingX ZRO-USDT	+0.0100%	4h	1.1684	+0.061%	—	$16.5M	—	as long as short
Backpack ZRO_USDC_PERP	+0.0100%	1h	1.1708	+0.267%	$99K	$212K	20x	as long as short
Variational Omni ZRO	+0.0100%	4h	1.1690	+0.110%	$2.3M	$837K	—	as long as short
ApeX Omni ZROUSDT	+0.0100%	1h	1.1730	+0.455%	$39K	$684K	50x	as long as short
Polymarket Perps ZRO-USD	+0.0100%	1h	1.1692	+0.130%	$92K	$841K	5x	as long as short
Aevo ZRO-PERP	+0.0104%	1h	1.1675	−0.016%	$21K	—	3x	as long as short
BloFin ZRO-USDT	+0.0132%	4h	1.1753	+0.652%	$1.1M	$253K	75x	as long as short
Nado ZRO-PERP	+0.0228%	1h	1.1689	+0.108%	$1.3M	$126K	5x	as long as short
GMX ZRO/USD [ETH-USDC]	L +0.0292% / S −0.2341%	1h	1.1691	+0.119%	$3K	—	100x	as long as short
Kraken Futures PF_ZROUSD	+0.0372%	1h	1.1694	+0.148%	$251K	$407K	25x	as long as short
Extended ZRO-USDlong	+0.0992%	1h	1.1677	long leg	$784K	$593K	10x
Injective ZRO/USDC PERP	+0.1213%	1h	1.1740	+0.541%	$12K	$260K	12x	as long as short