Funding you earn now, next payment 03:00 UTC+0.0062%/8h= +6.8% APRpaid last 24h +0.073%
Price spread now: Lighter against Orderly+0.165%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
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—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Lighter is 0.165% dearer against Orderly than usual: you sell high and buy low: +$16 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_ZRO_USDC | 1.1702 | 0.0034 | pay 0.0017% / 4h | 1h 53m | $20K | $5K | 10x |
| Short | Lighter ZRO | 1.1721 | 0.0096 | get 0.0012% / 1h | 53m 02s | $4.4M | $1.2M | 5x |
Orderly PERP_ZRO_USDC
Lighter ZROFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Orderly. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $12.96
- Price spread: +0.165% → 0.000%
- $16.49
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- $23.45
- Costs to cover
- 0.060%
- Break-even
- from the start
Slippage unknown: Orderly: no order-book sample; Lighter: live order book, 5 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 Lighter live order book, 5 min ago | 8.73 bp | 9.8 bp −$10 | 80.7 bp −$807 | 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 25 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 | −0.0488% | 1h | 1.1683 | −0.165% | $7K | $3K | 5x | as long as short |
| ApeX Omni ZROUSDT | −0.0341% | 1h | 1.1650 | −0.444% | $39K | $675K | 50x | as long as short |
| Bybit ZROUSDT | −0.0037% | 4h | 1.1705 | +0.026% | $17.9M | $13.9M | 50x | as long as short |
| dYdX ZRO-USD | 0.0000% | 1h | 1.1692 | −0.090% | $21K | $3K | 5x | as long as short |
| Gate ZRO_USDT | +0.0020% | 4h | 1.1690 | −0.103% | $1.3M | $1.5M | 75x | as long as short |
| Orderly PERP_ZRO_USDClong | +0.0034% | 4h | 1.1702 | long leg | $20K | $5K | 10x | |
| Lighter ZROshort | +0.0096% | 1h | 1.1721 | +0.165% | $4.4M | $1.2M | 5x | |
| Hyperliquid ZRO | +0.0100% | 1h | 1.1730 | +0.239% | $37.1M | $5.4M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1714 | +0.099% | $158K | $150K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1689 | −0.108% | $136K | $169K | 5x | as long as short |
01 Exchange ZROUSD
ApeX Omni ZROUSDT
Bybit ZROUSDT
dYdX ZRO-USD
Gate ZRO_USDT
Hyperliquid ZRO
Aster ZROUSDT
Pacifica ZROShow all 25 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance ZROUSDT | +0.0100% | 4h | 1.1712 | +0.082% | $21.9M | $29.6M | 75x | as long as short |
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1715 | +0.111% | $3.2M | $7.9M | 20x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1704 | +0.017% | $19.1M | $2.7M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1703 | +0.009% | $2.3M | $1.9M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1709 | +0.060% | $2.7M | $2.4M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1712 | +0.085% | — | $16.4M | — | as long as short |
| Backpack ZRO_USDC_PERP | +0.0100% | 1h | 1.1713 | +0.094% | $95K | $205K | 20x | as long as short |
| Variational Omni ZRO | +0.0100% | 4h | 1.1720 | +0.154% | $2.3M | $813K | — | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1700 | −0.017% | $93K | $838K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1695 | −0.060% | $21K | — | 3x | as long as short |
| Nado ZRO-PERP | +0.0150% | 1h | 1.1688 | −0.119% | $1.3M | $124K | 5x | as long as short |
| Kraken Futures PF_ZROUSD | +0.0198% | 1h | 1.1731 | +0.247% | $259K | $406K | 25x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0292% / S −0.2341% | 1h | 1.1713 | +0.096% | $3K | — | 100x | as long as short |
| Extended ZRO-USD | +0.0880% | 1h | 1.1709 | +0.057% | $785K | $590K | 10x | as long as short |
| Injective ZRO/USDC PERP | +0.1102% | 1h | 1.1730 | +0.239% | $12K | $260K | 12x | as long as short |
Binance ZROUSDT
OKX ZRO-USDT-SWAP
MEXC ZRO_USDT
KuCoin ZROUSDTM
Bitget ZROUSDT
BingX ZRO-USDT
Backpack ZRO_USDC_PERP
Variational Omni ZRO
Polymarket Perps ZRO-USD
Aevo ZRO-PERP
Nado ZRO-PERP
Kraken Futures PF_ZROUSD
GMX ZRO/USD [ETH-USDC]
Extended ZRO-USD
Injective ZRO/USDC PERP