Spread before costs (cost unknown: a leg has no order-book sample)−0.025%
7d average—if it closes, per $10,000$3funding while held, a day+$4.75
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_ZRO_USDC | 1.1956 | −0.0058 | get 0.0029% / 4h | 3h 26m | $21K | $7K | 10x |
| Short | Backpack ZRO_USDC_PERP | 1.1953 | 0.0100 | get 0.0013% / 1h | 26m 38s | $90K | $198K | 20x |
Orderly PERP_ZRO_USDC
Backpack ZRO_USDC_PERPPrice spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- −$2.51
- Funding while held
- $4.75
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$13.76
- Spread needed to break even
- 0.160%
Slippage unknown: Orderly: no order-book sample; Backpack: live order book, 18 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0158%
- Per $10,000 a day
- +$4.75
- Average in range /8h
- —
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 Orderly no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 18 min ago | 0.42 bp | 6.5 bp −$7 | doesn't fit | doesn't fit | doesn't fit |
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 price on every exchange
against the cheapest. Click to use as the short leg.Variational Omni1.1908cheapestExtended1.1919+0.089%ApeX Omni1.1920+0.099%OKX1.1927+0.158%Bitget1.1927+0.158%Gate1.1930+0.183%Bybit1.1932+0.200%Pacifica1.1933+0.205%MEXC1.1934+0.217%Binance1.1936+0.234%BingX1.1939+0.259%Aster1.1940+0.270%BloFin1.1941+0.276%Lighter1.1942+0.286%KuCoin1.1943+0.293%Aevo1.1947+0.324%Hyperliquid1.1950+0.351%dYdX1.1951+0.362%
Variational Omni
Extended
ApeX Omni
OKX
Bitget
Gate
Bybit
Pacifica
MEXC
Binance
BingX
Aster
BloFin
Lighter
KuCoin
Aevo
Hyperliquid
dYdXBackpack1.1953+0.377%
Nado1.1954+0.387%GMX1.1955+0.395%
Nado
GMXOrderly1.1956+0.402%
Kraken Futures1.1957+0.414%Polymarket Perps1.1966+0.486%01 Exchange1.1975+0.566%Injective1.2010+0.855%
Kraken Futures
Polymarket Perps
InjectiveZRO on 26 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Variational Omni ZRO | −0.400% | +0.0100% | 4h | $2.3M | $906K | — | as long as short |
| Extended ZRO-USD | −0.312% | +0.0104% | 1h | $795K | $474K | 10x | as long as short |
| ApeX Omni ZROUSDT | −0.301% | +0.0100% | 1h | $37K | $680K | 50x | as long as short |
| OKX ZRO-USDT-SWAP | −0.243% | +0.0100% | 4h | $3.2M | $8.0M | 20x | as long as short |
| Bitget ZROUSDT | −0.243% | +0.0100% | 4h | $2.8M | $2.8M | 75x | as long as short |
| Gate ZRO_USDT | −0.217% | +0.0100% | 4h | $1.4M | $2.1M | 75x | as long as short |
| Bybit ZROUSDT | −0.201% | +0.0071% | 4h | $18.4M | $17.5M | 50x | as long as short |
| Pacifica ZRO | −0.196% | +0.0100% | 1h | $144K | $219K | 5x | as long as short |
| MEXC ZRO_USDT | −0.184% | +0.0100% | 4h | $18.0M | $3.9M | 125x | as long as short |
| Binance ZROUSDT | −0.167% | +0.0100% | 4h | $22.9M | $34.5M | 75x | as long as short |
Show all 26 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| BingX ZRO-USDT | −0.142% | +0.0100% | 4h | — | $8.9M | — | as long as short |
| Aster ZROUSDT | −0.131% | +0.0100% | 4h | $161K | $151K | 10x | as long as short |
| BloFin ZRO-USDT | −0.125% | +0.0139% | 4h | $1.1M | $283K | 75x | as long as short |
| Lighter ZRO | −0.115% | +0.0288% | 1h | $4.8M | $1.3M | 5x | as long as short |
| KuCoin ZROUSDTM | −0.109% | +0.0100% | 4h | $2.5M | $1.3M | 50x | as long as short |
| Aevo ZRO-PERP | −0.077% | +0.0104% | 1h | $21K | — | 3x | as long as short |
| Hyperliquid ZRO | −0.050% | +0.0728% | 1h | $39.3M | $7.5M | 5x | as long as short |
| dYdX ZRO-USD | −0.040% | +0.0072% | 1h | $21K | $1K | 5x | as long as short |
| Backpack ZRO_USDC_PERPshort | −0.025% | +0.0100% | 1h | $90K | $198K | 20x | |
| Nado ZRO-PERP | −0.015% | +0.0354% | 1h | $1.3M | $121K | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | −0.007% | L +0.0283% / S −0.2124% | 1h | $3K | — | 100x | as long as short |
| Orderly PERP_ZRO_USDClong | 0.000% | −0.0058% | 4h | $21K | $7K | 10x | |
| Kraken Futures PF_ZROUSD | +0.012% | −0.0156% | 1h | $265K | $572K | 25x | as long as short |
| Polymarket Perps ZRO-USD | +0.084% | +0.0100% | 1h | $84K | $842K | 5x | as long as short |
| 01 Exchange ZROUSD | +0.163% | +0.0240% | 1h | $7K | $3K | 5x | as long as short |
| Injective ZRO/USDC PERP | +0.452% | +0.0456% | 1h | $13K | $147K | 12x | as long as short |