Funding arb · Price arb /

ZRO

all ZRO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0193%/8h= −21.1% APRpaid last 24h −0.063%

Price spread now: KuCoin against GMX+0.149%7-day average — · you sell dearer than you buy

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

Long on GMX Short on KuCoin

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

The price spread pays, funding is against you. KuCoin is 0.149% dearer against GMX than usual: you sell high and buy low (spread +0.149% now, against zero (this spread has no 7-day history yet)): +$15 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 2.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX ZRO/USD [ETH-USDC]	1.1763	L +0.0293% / S −0.2341%	pay 0.0037% / 1h	17m 34s	$3K	—	100x
Short	KuCoin ZROUSDTM	1.1780	0.0100	get 0.0050% / 4h	3h 17m	$2.4M	$2.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against GMX. 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 GMXbpFee KuCoinbpOrdersPrice spread, now +0.149%Rate

Funding earned: −$40.55
Price spread: +0.149% → 0.000%: $14.88
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$49.67
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; KuCoin: live order book, 4 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 GMX no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 4 min ago	8.93 bp	52.1 bp −$52	155.1 bp −$1,551	doesn't fit	doesn't fit

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
Orderly PERP_ZRO_USDC	+0.0050%	4h	1.1762	−0.004%	$21K	$5K	10x	as long as short
BloFin ZRO-USDT	+0.0091%	4h	1.1762	−0.004%	$1.1M	$250K	75x	as long as short
dYdX ZRO-USD	+0.0098%	1h	1.1787	+0.207%	$21K	$4K	5x	as long as short
Aster ZROUSDT	+0.0100%	4h	1.1788	+0.220%	$159K	$150K	10x	as long as short
Pacifica ZRO	+0.0100%	1h	1.1784	+0.181%	$137K	$178K	5x	as long as short
Binance ZROUSDT	+0.0100%	4h	1.1783	+0.173%	$22.1M	$29.6M	75x	as long as short
Bybit ZROUSDT	+0.0100%	4h	1.1776	+0.115%	$18.0M	$13.7M	50x	as long as short
OKX ZRO-USDT-SWAP	+0.0100%	4h	1.1783	+0.174%	$3.2M	$7.9M	20x	as long as short
Gate ZRO_USDT	+0.0100%	4h	1.1770	+0.064%	$1.3M	$1.5M	75x	as long as short
MEXC ZRO_USDT	+0.0100%	4h	1.1784	+0.183%	$19.3M	$2.7M	125x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ZROUSDTMshort	+0.0100%	4h	1.1780	+0.149%	$2.4M	$2.0M	50x
Bitget ZROUSDT	+0.0100%	4h	1.1783	+0.174%	$2.7M	$2.5M	75x	as long as short
BingX ZRO-USDT	+0.0100%	4h	1.1780	+0.149%	—	$16.4M	—	as long as short
Backpack ZRO_USDC_PERP	+0.0100%	1h	1.1765	+0.021%	$98K	$221K	20x	as long as short
Variational Omni ZRO	+0.0100%	4h	1.1745	−0.145%	$2.3M	$809K	—	as long as short
ApeX Omni ZROUSDT	+0.0100%	1h	1.1770	+0.064%	$39K	$676K	50x	as long as short
Polymarket Perps ZRO-USD	+0.0100%	1h	1.1769	+0.055%	$100K	$850K	5x	as long as short
Aevo ZRO-PERP	+0.0104%	1h	1.1759	−0.027%	$21K	—	3x	as long as short
Lighter ZRO	+0.0120%	1h	1.1808	+0.383%	$4.4M	$1.2M	5x	as long as short
Nado ZRO-PERP	+0.0211%	1h	1.1762	0.000%	$1.3M	$124K	5x	as long as short
GMX ZRO/USD [ETH-USDC]long	L +0.0293% / S −0.2341%	1h	1.1763	long leg	$3K	—	100x
01 Exchange ZROUSD	+0.0344%	1h	1.1796	+0.286%	$7K	$3K	5x	as long as short
Kraken Futures PF_ZROUSD	+0.0460%	1h	1.1775	+0.108%	$257K	$362K	25x	as long as short
Hyperliquid ZRO	+0.0596%	1h	1.1797	+0.293%	$37.5M	$5.5M	5x	as long as short
Extended ZRO-USD	+0.1088%	1h	1.1782	+0.162%	$804K	$625K	10x	as long as short
Injective ZRO/USDC PERP	+0.1363%	1h	1.1770	+0.064%	$12K	$261K	12x	as long as short