Funding arb · Price arb /

ZRO

all ZRO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0278%/8h= −30.4% APRpaid last 24h −0.063%

Price spread now: Orderly against Nado+0.060%7-day average — · you sell dearer than you buy

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

Long on Nado Short on Orderly

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 airdropNado: Active · farm boardneeds both histories

The price spread pays, funding is against you. Orderly is 0.060% dearer against Nado than usual: you sell high and buy low (spread +0.060% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 17 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado ZRO-PERP	1.1823	0.0289	pay 0.0036% / 1h	26m 08s	$1.3M	$129K	5x
Short	Orderly PERP_ZRO_USDC	1.1830	0.0012	get 0.0006% / 4h	3h 26m	$21K	$6K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Nado. 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 NadobpFee OrderlybpOrdersPrice spread, now +0.060%Rate

Funding earned: −$58.36
Price spread: +0.060% → 0.000%: $5.96
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$65.4
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Nado: live order book, 2 min ago; Orderly: 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 Nado live order book, 2 min ago	2.11 bp	12.6 bp −$13	45.2 bp −$452	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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	−0.0080%	1h	1.1820	−0.022%	$7K	$3K	5x	as long as short
Orderly PERP_ZRO_USDCshort	+0.0012%	4h	1.1830	+0.060%	$21K	$6K	10x
BloFin ZRO-USDT	+0.0060%	4h	1.1801	−0.186%	$1.1M	$254K	75x	as long as short
Lighter ZRO	+0.0096%	1h	1.1839	+0.139%	$4.4M	$1.5M	5x	as long as short
Hyperliquid ZRO	+0.0100%	1h	1.1837	+0.115%	$37.5M	$5.8M	5x	as long as short
Aster ZROUSDT	+0.0100%	4h	1.1837	+0.121%	$158K	$149K	10x	as long as short
Pacifica ZRO	+0.0100%	1h	1.1821	−0.017%	$137K	$170K	5x	as long as short
Binance ZROUSDT	+0.0100%	4h	1.1827	+0.034%	$22.2M	$30.2M	75x	as long as short
Bybit ZROUSDT	+0.0100%	4h	1.1823	0.000%	$18.1M	$14.2M	50x	as long as short
OKX ZRO-USDT-SWAP	+0.0100%	4h	1.1830	+0.060%	$3.2M	$8.1M	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	1.1820	−0.025%	$1.4M	$1.5M	75x	as long as short
MEXC ZRO_USDT	+0.0100%	4h	1.1828	+0.043%	$19.2M	$2.7M	125x	as long as short
KuCoin ZROUSDTM	+0.0100%	4h	1.1819	−0.033%	$2.4M	$1.9M	50x	as long as short
Bitget ZROUSDT	+0.0100%	4h	1.1820	−0.025%	$2.7M	$2.4M	75x	as long as short
BingX ZRO-USDT	+0.0100%	4h	1.1827	+0.034%	—	$14.7M	—	as long as short
Variational Omni ZRO	+0.0100%	4h	1.1824	+0.005%	$2.3M	$854K	—	as long as short
ApeX Omni ZROUSDT	+0.0100%	1h	1.1770	−0.448%	$37K	$688K	50x	as long as short
Polymarket Perps ZRO-USD	+0.0100%	1h	1.1834	+0.093%	$92K	$828K	5x	as long as short
Aevo ZRO-PERP	+0.0104%	1h	1.1825	+0.017%	$21K	—	3x	as long as short
dYdX ZRO-USD	+0.0245%	1h	1.1811	−0.103%	$21K	$3K	5x	as long as short
Nado ZRO-PERPlong	+0.0289%	1h	1.1823	long leg	$1.3M	$129K	5x
GMX ZRO/USD [ETH-USDC]	L +0.0292% / S −0.2341%	1h	1.1830	+0.057%	$3K	—	100x	as long as short
Kraken Futures PF_ZROUSD	+0.0300%	1h	1.1844	+0.178%	$254K	$410K	25x	as long as short
Backpack ZRO_USDC_PERP	+0.0379%	1h	1.1836	+0.110%	$100K	$204K	20x	as long as short
Injective ZRO/USDC PERP	+0.1190%	1h	1.1840	+0.144%	$12K	$260K	12x	as long as short
Extended ZRO-USD	+0.1360%	1h	1.1830	+0.063%	$784K	$589K	10x	as long as short