Funding you earn now, next payment 01:00 UTC−0.0200%/8h= −21.9% APRpaid last 24h +0.163%
Price spread now: Binance against Kraken Futures−0.351%7-day average −0.092% · you buy dearer than you sell
Net, funding: paid 7d − costs−$133as in the Funding arb table
Net, price: spread back to 7d avg − costs−$143as in the Price arb table
costs, in and out, $10k−$1171.168% of the position
Funding, last 7 days−0.159%−$16 on $10k
+Price spread, last 3 days (all we have)+0.460%+$46 · spread now −0.351%, 7d avg −0.092%
=Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Binance is 0.259% cheaper against Kraken Futures than usual: you would sell low and buy high (−$26 if the spread goes back to its 7-day average of −0.092%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_ZROUSD | 1.1833 | 0.0300 | pay 0.0038% / 1h | 3m 58s | $254K | $407K | 25x |
| Short | Binance ZROUSDT | 1.1791 | 0.0100 | get 0.0050% / 4h | 3h 03m | $22.1M | $30.0M | 75x |
Kraken Futures PF_ZROUSD
Binance ZROUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Kraken Futures. 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
- −$42.08
- Price spread: −0.351% → −0.092%
- −$25.91
- Slippage, 4 orders
- −$96.8
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$184.79
- Costs to cover
- 1.168%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 4 min ago; Binance: live order book, 7 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 Kraken Futures live order book, 4 min ago | 24.02 bp | 52.7 bp −$53 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 7 min ago | 0.42 bp | 13.3 bp −$13 | 39.6 bp −$396 | 259.3 bp −$25.9K | 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 | |
|---|---|---|---|---|---|---|---|---|
| 01 Exchange ZROUSD | −0.0128% | 1h | 1.1834 | +0.008% | $7K | $3K | 5x | as long as short |
| Orderly PERP_ZRO_USDC | +0.0008% | 4h | 1.1828 | −0.039% | $21K | $6K | 10x | as long as short |
| Lighter ZRO | +0.0096% | 1h | 1.1840 | +0.060% | $4.4M | $1.5M | 5x | as long as short |
| Hyperliquid ZRO | +0.0100% | 1h | 1.1826 | −0.056% | $37.5M | $5.6M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1823 | −0.079% | $158K | $149K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1834 | +0.009% | $137K | $168K | 5x | as long as short |
| Binance ZROUSDTshort | +0.0100% | 4h | 1.1791 | −0.351% | $22.1M | $30.0M | 75x | |
| Bybit ZROUSDT | +0.0100% | 4h | 1.1786 | −0.394% | $18.0M | $14.0M | 50x | as long as short |
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1788 | −0.377% | $3.2M | $8.0M | 20x | as long as short |
| Gate ZRO_USDT | +0.0100% | 4h | 1.1800 | −0.276% | $1.4M | $1.5M | 75x | as long as short |
01 Exchange ZROUSD
Orderly PERP_ZRO_USDC
Lighter ZRO
Hyperliquid ZRO
Aster ZROUSDT
Pacifica ZRO
Bybit ZROUSDT
OKX ZRO-USDT-SWAP
Gate ZRO_USDTShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1802 | −0.259% | $19.2M | $2.7M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1818 | −0.124% | $2.4M | $1.9M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1821 | −0.098% | $2.7M | $2.4M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1791 | −0.352% | — | $16.5M | — | as long as short |
| Variational Omni ZRO | +0.0100% | 4h | 1.1804 | −0.244% | $2.3M | $847K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1870 | +0.316% | $37K | $686K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1840 | +0.062% | $93K | $840K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1826 | −0.054% | $21K | — | 3x | as long as short |
| BloFin ZRO-USDT | +0.0110% | 4h | 1.1822 | −0.090% | $1.1M | $257K | 75x | as long as short |
| dYdX ZRO-USD | +0.0178% | 1h | 1.1824 | −0.070% | $21K | $3K | 5x | as long as short |
| Nado ZRO-PERP | +0.0288% | 1h | 1.1837 | +0.035% | $1.4M | $126K | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0292% / S −0.2341% | 1h | 1.1838 | +0.042% | $3K | — | 100x | as long as short |
| Kraken Futures PF_ZROUSDlong | +0.0300% | 1h | 1.1833 | long leg | $254K | $407K | 25x | |
| Backpack ZRO_USDC_PERP | +0.0422% | 1h | 1.1826 | −0.056% | $98K | $207K | 20x | as long as short |
| Extended ZRO-USD | +0.1152% | 1h | 1.1804 | −0.242% | $792K | $600K | 10x | as long as short |
| Injective ZRO/USDC PERP | +0.1190% | 1h | 1.1920 | +0.738% | $12K | $260K | 12x | as long as short |
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
dYdX ZRO-USD
Nado ZRO-PERP
GMX ZRO/USD [ETH-USDC]
Backpack ZRO_USDC_PERP
Extended ZRO-USD
Injective ZRO/USDC PERP