Spread before costs (cost unknown: a leg has no order-book sample)−0.024%
7d average—if it closes, per $10,000$2funding while held, a day−$11.49
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_ZRO_USDC | 1.2179 | −0.0098 | get 0.0049% / 4h | 50m 24s | $21K | $7K | 10x |
| Short | Kraken Futures PF_ZROUSD | 1.2176 | −0.0481 | pay 0.0060% / 1h | 50m 24s | $270K | $574K | 25x |
Orderly PERP_ZRO_USDC
Kraken Futures PF_ZROUSDPrice 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
- −$2.41
- Funding while held
- −$11.49
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$29.9
- Spread needed to break even
- 0.160%
Slippage unknown: Orderly: no order-book sample; Kraken Futures: live order book, 64 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.0383%
- Per $10,000 a day
- −$11.49
- 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 Kraken Futures live order book, 64 min ago | 25.22 bp | 51.5 bp −$52 | 172.1 bp −$1,721 | 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.Injective1.2090cheapestVariational Omni1.2159+0.575%ApeX Omni1.2160+0.579%BloFin1.2169+0.653%Nado1.2175+0.702%Aevo1.2175+0.703%
Injective
Variational Omni
ApeX Omni
BloFin
Nado
AevoKraken Futures1.2176+0.712%
Orderly1.2179+0.736%
GMX1.2182+0.758%Backpack1.2186+0.794%Aster1.2188+0.807%Pacifica1.2193+0.852%Lighter1.2193+0.854%Bybit1.2194+0.860%OKX1.2194+0.860%Gate1.2200+0.910%Bitget1.2200+0.910%Binance1.2201+0.919%MEXC1.2204+0.943%01 Exchange1.2204+0.946%dYdX1.2205+0.949%Extended1.2205+0.954%BingX1.2206+0.959%KuCoin1.2208+0.976%Polymarket Perps1.2210+0.993%Hyperliquid1.2218+1.059%
GMX
Backpack
Aster
Pacifica
Lighter
Bybit
OKX
Gate
Bitget
Binance
MEXC
dYdX
Extended
BingX
KuCoin
Polymarket Perps
HyperliquidZRO on 26 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective ZRO/USDC PERP | −0.731% | +0.1142% | 1h | $13K | $173K | 12x | as long as short |
| Variational Omni ZRO | −0.160% | +0.0100% | 4h | $2.4M | $811K | — | as long as short |
| ApeX Omni ZROUSDT | −0.156% | +0.0100% | 1h | $38K | $676K | 50x | as long as short |
| BloFin ZRO-USDT | −0.082% | +0.0134% | 4h | $1.1M | $288K | 75x | as long as short |
| Nado ZRO-PERP | −0.034% | +0.0407% | 1h | $1.4M | $118K | 5x | as long as short |
| Aevo ZRO-PERP | −0.033% | +0.0104% | 1h | $22K | — | 3x | as long as short |
| Kraken Futures PF_ZROUSDshort | −0.024% | −0.0481% | 1h | $270K | $574K | 25x | |
| Orderly PERP_ZRO_USDClong | 0.000% | −0.0098% | 4h | $21K | $7K | 10x | |
| GMX ZRO/USD [ETH-USDC] | +0.022% | L +0.0286% / S −0.2124% | 1h | $3K | — | 100x | as long as short |
| Backpack ZRO_USDC_PERP | +0.057% | +0.0466% | 1h | $92K | $188K | 20x | as long as short |
Show all 26 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Aster ZROUSDT | +0.071% | +0.0100% | 4h | $138K | $105K | 10x | as long as short |
| Pacifica ZRO | +0.115% | +0.0100% | 1h | $148K | $220K | 5x | as long as short |
| Lighter ZRO | +0.117% | +0.0096% | 1h | $4.9M | $1.3M | 5x | as long as short |
| Bybit ZROUSDT | +0.123% | +0.0100% | 4h | $18.9M | $17.3M | 50x | as long as short |
| OKX ZRO-USDT-SWAP | +0.123% | −0.0008% | 4h | $3.3M | $8.3M | 20x | as long as short |
| Gate ZRO_USDT | +0.172% | +0.0100% | 4h | $1.4M | $2.1M | 75x | as long as short |
| Bitget ZROUSDT | +0.172% | +0.0100% | 4h | $2.8M | $2.9M | 75x | as long as short |
| Binance ZROUSDT | +0.182% | +0.0100% | 4h | $23.4M | $34.1M | 75x | as long as short |
| MEXC ZRO_USDT | +0.205% | +0.0100% | 4h | $18.1M | $3.8M | 125x | as long as short |
| 01 Exchange ZROUSD | +0.209% | −0.0176% | 1h | $7K | $3K | 5x | as long as short |
| dYdX ZRO-USD | +0.212% | +0.0003% | 1h | $22K | $759 | 5x | as long as short |
| Extended ZRO-USD | +0.217% | +0.0104% | 1h | $814K | $465K | 10x | as long as short |
| BingX ZRO-USDT | +0.222% | +0.0100% | 4h | — | $8.7M | — | as long as short |
| KuCoin ZROUSDTM | +0.238% | +0.0100% | 4h | $2.6M | $1.3M | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.255% | +0.0100% | 1h | $88K | $836K | 5x | as long as short |
| Hyperliquid ZRO | +0.320% | +0.0345% | 1h | $40.3M | $7.3M | 5x | as long as short |