Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.001%
Price spread now: Backpack against KuCoin+0.095%7-day average −0.001% · you sell dearer than you buy
Net, funding: paid 7d − costs−$119as in the Funding arb table
Net, price: spread back to 7d avg − costs−$96as in the Price arb table
costs, in and out, $10k−$1061.059% of the position
Funding, last 7 days−0.135%−$13 on $10k
+Price spread, last 4 days (all we have)−0.113%−$11 · spread now +0.095%, 7d avg −0.001%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.095% dearer against KuCoin than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of −0.001%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin ZROUSDTM | 1.1629 | 0.0100 | pay 0.0050% / 4h | 18m 48s | $2.4M | $2.0M | 50x |
| Short | Backpack ZRO_USDC_PERP | 1.1640 | 0.0100 | get 0.0013% / 1h | 18m 48s | $94K | $213K | 20x |
KuCoin ZROUSDTM
Backpack ZRO_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against KuCoin. 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
- $0
- Price spread: +0.095% → −0.001%
- $9.52
- Slippage, 4 orders
- −$83.86
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$96.34
- Costs to cover
- 1.059%
- Break-even
- never at this rate
Slippage from KuCoin: live order book, 8 min ago; Backpack: live order book, 19 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 KuCoin live order book, 8 min ago | 9.90 bp | 54.2 bp −$54 | 138.2 bp −$1,382 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 19 min ago | 0.43 bp | 6.1 bp −$6 | doesn't fit | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX ZRO-USD | 0.0000% | 1h | 1.1632 | +0.022% | $21K | $5K | 5x | as long as short |
| 01 Exchange ZROUSD | 0.0000% | 1h | 1.1644 | +0.127% | $4K | $5K | 5x | as long as short |
| Orderly PERP_ZRO_USDC | +0.0085% | 4h | 1.1635 | +0.052% | $20K | $4K | 10x | as long as short |
| Lighter ZRO | +0.0096% | 1h | 1.1653 | +0.206% | $4.3M | $1.2M | 5x | as long as short |
| Nado ZRO-PERP | +0.0100% | 1h | 1.1639 | +0.087% | $1.3M | $125K | 5x | as long as short |
| Hyperliquid ZRO | +0.0100% | 1h | 1.1647 | +0.155% | $36.9M | $5.3M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1643 | +0.123% | $157K | $150K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1634 | +0.041% | $137K | $165K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1632 | +0.026% | $21.8M | $28.7M | 75x | as long as short |
| Bybit ZROUSDT | +0.0100% | 4h | 1.1625 | −0.034% | $17.8M | $13.1M | 50x | as long as short |
dYdX ZRO-USD
01 Exchange ZROUSD
Orderly PERP_ZRO_USDC
Lighter ZRO
Nado ZRO-PERP
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 | 1.1634 | +0.043% | $3.2M | $7.6M | 20x | as long as short |
| Gate ZRO_USDT | +0.0100% | 4h | 1.1630 | +0.009% | $1.3M | $1.4M | 75x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1632 | +0.026% | $19.1M | $2.7M | 125x | as long as short |
| KuCoin ZROUSDTMlong | +0.0100% | 4h | 1.1629 | long leg | $2.4M | $2.0M | 50x | |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1625 | −0.034% | $2.7M | $2.5M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1630 | +0.009% | — | $21.7M | — | as long as short |
| Backpack ZRO_USDC_PERPshort | +0.0100% | 1h | 1.1640 | +0.095% | $94K | $213K | 20x | |
| Variational Omni ZRO | +0.0100% | 4h | 1.1605 | −0.207% | $2.3M | $759K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1630 | +0.009% | $39K | $669K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1641 | +0.103% | $99K | $813K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1631 | +0.019% | $21K | — | 3x | as long as short |
| BloFin ZRO-USDT | +0.0131% | 4h | 1.1634 | +0.043% | $1.0M | $198K | 75x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0292% / S −0.2341% | 1h | 1.1634 | +0.041% | $3K | — | 100x | as long as short |
| Kraken Futures PF_ZROUSD | +0.0433% | 1h | 1.1644 | +0.127% | $253K | $296K | 25x | as long as short |
| Extended ZRO-USD | +0.0496% | 1h | 1.1632 | +0.030% | $793K | $647K | 10x | as long as short |
| Injective ZRO/USDC PERP | +0.1271% | 1h | 1.1660 | +0.267% | $12K | $261K | 12x | as long as short |
OKX ZRO-USDT-SWAP
Gate ZRO_USDT
MEXC ZRO_USDT
Bitget ZROUSDT
BingX ZRO-USDT
Variational Omni ZRO
ApeX Omni ZROUSDT
Polymarket Perps ZRO-USD
Aevo ZRO-PERP
BloFin ZRO-USDT
GMX ZRO/USD [ETH-USDC]
Kraken Futures PF_ZROUSD
Extended ZRO-USD
Injective ZRO/USDC PERP