ZRO

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0197%/8h= −21.5% APRnext payment −$0.25 per $10,000 · paid last 24h −0.034%

Price spread now: Lighter against GMX+0.117%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 Lighter

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 airdropLighter: Season 3 · farm boardneeds both histories

The price spread pays, funding is against you. Lighter is 0.117% dearer against GMX than usual: you sell high and buy low (spread +0.117% now, against zero (this spread has no 7-day history yet)): +$12 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 47 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX ZRO/USD [ETH-USDC]	1.1682	L +0.0293% / S −0.2341%	pay 0.0037% / 1h	11m 03s	$3K	—	100x
Short	Lighter ZRO	1.1696	0.0096	get 0.0012% / 1h	11m 03s	$4.4M	$1.2M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.117%Rate

Funding earned: −$41.29
Price spread: +0.117% → 0.000%: $11.65
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$41.64
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Lighter: live order book, 12 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 Lighter live order book, 12 min ago	11.80 bp	23.9 bp −$24	101.5 bp −$1,015	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
dYdX ZRO-USD	+0.0006%	1h	1.1682	0.000%	$21K	$5K	5x	as long as short
01 Exchange ZROUSD	+0.0016%	1h	1.1690	+0.065%	$4K	$5K	5x	as long as short
Orderly PERP_ZRO_USDC	+0.0085%	4h	1.1688	+0.051%	$20K	$4K	10x	as long as short
Lighter ZROshort	+0.0096%	1h	1.1696	+0.117%	$4.4M	$1.2M	5x
Nado ZRO-PERP	+0.0100%	1h	1.1686	+0.037%	$1.3M	$125K	5x	as long as short
Hyperliquid ZRO	+0.0100%	1h	1.1692	+0.086%	$37.0M	$5.3M	5x	as long as short
Aster ZROUSDT	+0.0100%	4h	1.1689	+0.064%	$157K	$150K	10x	as long as short
Pacifica ZRO	+0.0100%	1h	1.1676	−0.054%	$137K	$165K	5x	as long as short
Binance ZROUSDT	+0.0100%	4h	1.1682	0.000%	$21.9M	$28.7M	75x	as long as short
Bybit ZROUSDT	+0.0100%	4h	1.1673	−0.077%	$17.8M	$13.0M	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	1.1689	+0.060%	$3.2M	$7.6M	20x	as long as short
Gate ZRO_USDT	+0.0100%	4h	1.1680	−0.017%	$1.3M	$1.4M	75x	as long as short
MEXC ZRO_USDT	+0.0100%	4h	1.1679	−0.026%	$19.2M	$2.7M	125x	as long as short
KuCoin ZROUSDTM	+0.0100%	4h	1.1682	0.000%	$2.4M	$2.0M	50x	as long as short
Bitget ZROUSDT	+0.0100%	4h	1.1675	−0.060%	$2.7M	$2.5M	75x	as long as short
BingX ZRO-USDT	+0.0100%	4h	1.1685	+0.026%	—	$21.7M	—	as long as short
Backpack ZRO_USDC_PERP	+0.0100%	1h	1.1684	+0.017%	$95K	$214K	20x	as long as short
Variational Omni ZRO	+0.0100%	4h	1.1620	−0.533%	$2.3M	$759K	—	as long as short
ApeX Omni ZROUSDT	+0.0100%	1h	1.1670	−0.103%	$39K	$669K	50x	as long as short
Polymarket Perps ZRO-USD	+0.0100%	1h	1.1693	+0.094%	$99K	$809K	5x	as long as short
Aevo ZRO-PERP	+0.0104%	1h	1.1679	−0.025%	$21K	—	3x	as long as short
BloFin ZRO-USDT	+0.0133%	4h	1.1680	−0.017%	$1.0M	$199K	75x	as long as short
GMX ZRO/USD [ETH-USDC]long	L +0.0293% / S −0.2341%	1h	1.1682	long leg	$3K	—	100x
Kraken Futures PF_ZROUSD	+0.0431%	1h	1.1700	+0.153%	$254K	$291K	25x	as long as short
Extended ZRO-USD	+0.0512%	1h	1.1675	−0.064%	$797K	$647K	10x	as long as short
Injective ZRO/USDC PERP	+0.1271%	1h	1.1730	+0.411%	$12K	$261K	12x	as long as short