Funding arb · Price arb /

ZRO

all ZRO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.2241%/8h= +245.4% APRpaid last 24h +0.807%

Price spread now: GMX against MEXC−0.176%133s7-day average — · you buy dearer than you sell

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

Long on MEXC Short on GMX

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

Funding pays, the price is against you. GMX is 0.176% cheaper against MEXC than usual: you would sell low and buy high (spread −0.176% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$18 on $10k: about 6 hours of funding at the current rate (+$67 a day). The two prices were read 133 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ZRO_USDT	1.1695	0.0100	pay 0.0050% / 4h	1h 25m	$19.2M	$2.7M	125x
Short	GMX ZRO/USD [ETH-USDC]	1.1674	L +0.0292% / S −0.2341%	get 0.0293% / 1h	25m 12s	$3K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against MEXC. 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 MEXCbpFee GMXbpOrdersPrice spread, now −0.176%Rate

Funding earned: $470.65
Price spread: −0.176% → 0.000%: −$17.63
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee GMX: 6 bp × 2 orders: −$12
Net: $441.02
Costs to cover: 0.120%
Break-even: 0.4 days

Slippage unknown: MEXC: live order book, 3 min ago; GMX: no order-book sample. 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 MEXC live order book, 3 min ago	0.43 bp	5.4 bp −$5	38.3 bp −$383	78.5 bp −$7,853	468.5 bp −$234.2K
Sell GMX no order-book sample	—	—	—	—	—

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
01 Exchange ZROUSD	+0.0016%	1h	1.1714	+0.166%	$4K	$5K	5x	as long as short
dYdX ZRO-USD	+0.0042%	1h	1.1698	+0.025%	$21K	$5K	5x	as long as short
Orderly PERP_ZRO_USDC	+0.0094%	4h	1.1697	+0.017%	$20K	$4K	10x	as long as short
Lighter ZRO	+0.0096%	1h	1.1716	+0.180%	$4.4M	$1.2M	5x	as long as short
Hyperliquid ZRO	+0.0100%	1h	1.1702	+0.060%	$37.1M	$5.5M	5x	as long as short
Aster ZROUSDT	+0.0100%	4h	1.1701	+0.050%	$158K	$150K	10x	as long as short
Pacifica ZRO	+0.0100%	1h	1.1691	−0.036%	$137K	$172K	5x	as long as short
Binance ZROUSDT	+0.0100%	4h	1.1701	+0.050%	$21.9M	$29.1M	75x	as long as short
Bybit ZROUSDT	+0.0100%	4h	1.1698	+0.026%	$17.9M	$13.4M	50x	as long as short
OKX ZRO-USDT-SWAP	+0.0100%	4h	1.1698	+0.026%	$3.2M	$7.7M	20x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ZRO_USDT	+0.0100%	4h	1.1690	−0.043%	$1.3M	$1.4M	75x	as long as short
MEXC ZRO_USDTlong	+0.0100%	4h	1.1695	long leg	$19.2M	$2.7M	125x
KuCoin ZROUSDTM	+0.0100%	4h	1.1697	+0.017%	$2.4M	$2.0M	50x	as long as short
Bitget ZROUSDT	+0.0100%	4h	1.1695	0.000%	$2.7M	$2.5M	75x	as long as short
BingX ZRO-USDT	+0.0100%	4h	1.1699	+0.034%	—	$16.5M	—	as long as short
Variational Omni ZRO	+0.0100%	4h	1.1689	−0.047%	$2.3M	$798K	—	as long as short
ApeX Omni ZROUSDT	+0.0100%	1h	1.1670	−0.214%	$39K	$670K	50x	as long as short
Polymarket Perps ZRO-USD	+0.0100%	1h	1.1709	+0.120%	$99K	$817K	5x	as long as short
Aevo ZRO-PERP	+0.0104%	1h	1.1695	+0.004%	$21K	—	3x	as long as short
BloFin ZRO-USDT	+0.0154%	4h	1.1702	+0.060%	$1.0M	$202K	75x	as long as short
Backpack ZRO_USDC_PERP	+0.0170%	1h	1.1700	+0.043%	$95K	$220K	20x	as long as short
Nado ZRO-PERP	+0.0285%	1h	1.1709	+0.116%	$1.3M	$127K	5x	as long as short
GMX ZRO/USD [ETH-USDC]short	L +0.0292% / S −0.2341%	1h	1.1674	−0.176%	$3K	—	100x
Kraken Futures PF_ZROUSD	+0.0514%	1h	1.1704	+0.079%	$254K	$298K	25x	as long as short
Extended ZRO-USD	+0.0696%	1h	1.1697	+0.015%	$799K	$626K	10x	as long as short
Injective ZRO/USDC PERP	+0.1317%	1h	1.1750	+0.470%	$12K	$261K	12x	as long as short