Funding arb · Price arb /

ZRO

all ZRO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0125%/8hnext payment +$0.63 per $10,000 · paid last 24h +0.031%

Price spread now: Gate against Orderly−0.127%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Gate

What this pair did over the last

the charts below follow

Funding, last 5 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. Gate is 0.127% cheaper against Orderly than usual: you would sell low and buy high (spread −0.127% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 3.4 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_ZRO_USDC	1.1795	−0.0025	get 0.0013% / 4h	6m 05s	$21K	$7K	10x
Short	Gate ZRO_USDT	1.1780	0.0100	get 0.0050% / 4h	6m 05s	$1.3M	$2.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Orderly. 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 OrderlybpFee GatebpOrdersPrice spread, now −0.127%Rate

Funding earned: $26.29
Price spread: −0.127% → 0.000%: −$12.72
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$7.43
Costs to cover: 0.210%
Break-even: 9.0 days

Slippage unknown: Orderly: no order-book sample; Gate: live order book, 1 min ago. 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 Orderly no order-book sample	—	—	—	—	—
Sell Gate live order book, 1 min ago	4.24 bp	30.5 bp −$31	67.0 bp −$670	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 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
OKX ZRO-USDT-SWAP	−0.0361%	4h	1.1782	−0.110%	$3.3M	$9.1M	20x	as long as short
01 Exchange ZROUSD	−0.0312%	1h	1.1785	−0.082%	$7K	$3K	5x	as long as short
Kraken Futures PF_ZROUSD	−0.0163%	1h	1.1802	+0.062%	$252K	$587K	25x	as long as short
Orderly PERP_ZRO_USDClong	−0.0025%	4h	1.1795	long leg	$21K	$7K	10x
dYdX ZRO-USD	+0.0001%	1h	1.1799	+0.030%	$21K	$2K	5x	as long as short
BloFin ZRO-USDT	+0.0042%	4h	1.1783	−0.102%	$1.1M	$272K	75x	as long as short
Variational Omni ZRO	+0.0075%	4h	1.1792	−0.022%	$2.2M	$904K	—	as long as short
Bybit ZROUSDT	+0.0092%	4h	1.1780	−0.127%	$18.0M	$17.0M	50x	as long as short
Hyperliquid ZRO	+0.0100%	1h	1.1802	+0.059%	$37.5M	$8.2M	5x	as long as short
Aster ZROUSDT	+0.0100%	4h	1.1805	+0.082%	$158K	$166K	10x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ZRO	+0.0100%	1h	1.1791	−0.035%	$142K	$216K	5x	as long as short
Binance ZROUSDT	+0.0100%	4h	1.1790	−0.042%	$22.3M	$35.8M	75x	as long as short
Gate ZRO_USDTshort	+0.0100%	4h	1.1780	−0.127%	$1.3M	$2.2M	75x
MEXC ZRO_USDT	+0.0100%	4h	1.1788	−0.059%	$18.3M	$3.8M	125x	as long as short
KuCoin ZROUSDTM	+0.0100%	4h	1.1790	−0.042%	$2.5M	$1.5M	50x	as long as short
Bitget ZROUSDT	+0.0100%	4h	1.1790	−0.042%	$2.7M	$2.7M	75x	as long as short
BingX ZRO-USDT	+0.0100%	4h	1.1784	−0.093%	—	$11.0M	—	as long as short
Backpack ZRO_USDC_PERP	+0.0100%	1h	1.1796	+0.008%	$92K	$203K	20x	as long as short
ApeX Omni ZROUSDT	+0.0100%	1h	1.1790	−0.042%	$37K	$681K	50x	as long as short
Polymarket Perps ZRO-USD	+0.0100%	1h	1.1799	+0.034%	$80K	$1.0M	5x	as long as short
Extended ZRO-USD	+0.0104%	1h	1.1786	−0.075%	$780K	$564K	10x	as long as short
Aevo ZRO-PERP	+0.0104%	1h	1.1796	+0.011%	$21K	—	3x	as long as short
Lighter ZRO	+0.0272%	1h	1.1823	+0.236%	$4.7M	$1.2M	5x	as long as short
Nado ZRO-PERP	+0.0287%	1h	1.1787	−0.067%	$1.3M	$133K	5x	as long as short
GMX ZRO/USD [ETH-USDC]	L +0.0292% / S −0.2341%	1h	1.1803	+0.069%	$3K	—	100x	as long as short
Injective ZRO/USDC PERP	+0.1041%	1h	1.1840	+0.382%	$12K	$165K	12x	as long as short