Funding you earn now, next payment 09:00 UTC−0.0448%/8h= −49.0% APRpaid last 24h +0.032%
Price spread now: BingX against Kraken Futures−0.152%7-day average −0.106% · you buy dearer than you sell
Net, funding: paid 7d − costs−$125as in the Funding arb table
Net, price: spread back to 7d avg − costs−$112as in the Price arb table
costs, in and out, $10k−$1071.071% of the position
Funding, last 7 days−0.182%−$18 on $10k
+Price spread, last 4 days (all we have)+0.994%+$99 · spread now −0.152%, 7d avg −0.106%
=Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and BingX is 0.046% cheaper against Kraken Futures than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.106%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.182% in total (about -9.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_ZROUSD | 1.1963 | 0.0548 | pay 0.0068% / 1h | 41m 38s | $272K | $318K | 25x |
| Short | BingX ZRO-USDT | 1.1945 | 0.0100 | get 0.0050% / 4h | 3h 41m | — | $21.7M | — |
Kraken Futures PF_ZROUSD
BingX ZRO-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX 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
- −$94.05
- Price spread: −0.152% → −0.106%
- −$4.64
- Slippage, 4 orders
- −$87.15
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$205.84
- Costs to cover
- 1.071%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 56 min ago; BingX: live order book, 12 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, 56 min ago | 39.04 bp | 44.0 bp −$44 | doesn't fit | doesn't fit | doesn't fit |
| Sell BingX live order book, 12 min ago | 2.50 bp | 7.5 bp −$8 | 12.5 bp −$125 | 33.4 bp −$3,338 | 102.5 bp −$51.3K |
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 | −0.0280% | 1h | 1.1932 | −0.258% | $4K | $5K | 5x | as long as short |
| dYdX ZRO-USD | 0.0000% | 1h | 1.1961 | −0.014% | $21K | $5K | 5x | as long as short |
| Orderly PERP_ZRO_USDC | +0.0074% | 4h | 1.1959 | −0.035% | $21K | $4K | 10x | as long as short |
| BloFin ZRO-USDT | +0.0076% | 4h | 1.1953 | −0.085% | $1.1M | $202K | 75x | as long as short |
| Lighter ZRO | +0.0096% | 1h | 1.1963 | −0.002% | $4.4M | $1.2M | 5x | as long as short |
| Hyperliquid ZRO | +0.0100% | 1h | 1.1963 | −0.002% | $37.9M | $5.5M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1965 | +0.014% | $161K | $151K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1950 | −0.114% | $140K | $168K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1947 | −0.134% | $22.5M | $29.6M | 75x | as long as short |
| Bybit ZROUSDT | +0.0100% | 4h | 1.1950 | −0.110% | $18.3M | $13.4M | 50x | as long as short |
01 Exchange ZROUSD
dYdX ZRO-USD
Orderly PERP_ZRO_USDC
BloFin ZRO-USDT
Lighter ZRO
Hyperliquid ZRO
Aster ZROUSDT
Pacifica ZRO
Binance ZROUSDT
Bybit ZROUSDTShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1948 | −0.127% | $3.2M | $8.0M | 20x | as long as short |
| Gate ZRO_USDT | +0.0100% | 4h | 1.1940 | −0.194% | $1.4M | $1.3M | 75x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1950 | −0.110% | $20.1M | $2.7M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1958 | −0.043% | $2.5M | $2.2M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1948 | −0.127% | $2.8M | $2.6M | 75x | as long as short |
| BingX ZRO-USDTshort | +0.0100% | 4h | 1.1945 | −0.152% | — | $21.7M | — | |
| Variational Omni ZRO | +0.0100% | 4h | 1.1962 | −0.010% | $2.3M | $760K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1980 | +0.140% | $40K | $667K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1973 | +0.082% | $101K | $805K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1955 | −0.069% | $21K | — | 3x | as long as short |
| Nado ZRO-PERP | +0.0156% | 1h | 1.1969 | +0.049% | $1.4M | $130K | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0295% / S −0.2341% | 1h | 1.1964 | +0.010% | $3K | — | 100x | as long as short |
| Extended ZRO-USD | +0.0408% | 1h | 1.1948 | −0.127% | $819K | $647K | 10x | as long as short |
| Kraken Futures PF_ZROUSDlong | +0.0548% | 1h | 1.1963 | long leg | $272K | $318K | 25x | |
| Backpack ZRO_USDC_PERP | +0.0694% | 1h | 1.1963 | −0.002% | $96K | $222K | 20x | as long as short |
| Injective ZRO/USDC PERP | +0.1160% | 1h | 1.1990 | +0.224% | $13K | $258K | 12x | as long as short |
OKX ZRO-USDT-SWAP
Gate ZRO_USDT
MEXC ZRO_USDT
KuCoin ZROUSDTM
Bitget ZROUSDT
Variational Omni ZRO
ApeX Omni ZROUSDT
Polymarket Perps ZRO-USD
Aevo ZRO-PERP
Nado ZRO-PERP
GMX ZRO/USD [ETH-USDC]
Extended ZRO-USD
Backpack ZRO_USDC_PERP
Injective ZRO/USDC PERP