ZRO Funding Rate — live across 17 venues

Compared across 17 supported venues · net of estimated fees · updated every few minutes

Live annualized ZRO perpetual funding across all 17 venues Perpia tracks. Right now ZRO funding is positive on 15 and negative on 1, ranging from +52.6% on Extended to -56.8% on BackPack — a spread of 109.4%. The widest delta-neutral trade is long BackPack / short Extended at 105.6% net APR.

venues

paying positive

109.4%

funding spread

Best ZRO spread now

105.6%

net APR after fees

Long BackPack→Short Extended

size depends on live venue depth — see the real cap in the scanner

ZRO funding trend & liquidity

169h of history

109.4%

current gross APR

40.3%

24h average

24.8%

7-day average

$102K

pair OI · lower leg

$191K

24h volume · lower leg

Averages are historical funding over the window shown. A current rate near the 7-day average may indicate the spread has persisted; a rate far above it is usually a short-lived spike. OI and volume are the smaller (binding) leg of the best pair — the ceiling on tradeable size.

ZRO funding rate history

30d · 6h buckets · 12 venues

154%0-117.2%

5 Aug4 Sep

ZRO — average across 12 venuesAsterBackPackExtendedHyperliquid

Annualized funding, averaged into 6-hour buckets. The bold line is the mean across venues quoting in that bucket; the faint lines are individual venues. Mean over the window: +12.9%. A break in a line means no data was recorded for that stretch, not a zero rate.

ZRO funding rate by venue

31 pairs scanned

Venue	Funding APR	Interval
Extended ↗	+52.6%	1h
MEXC ↗	+10.9%	4h
Binance ↗	+10.9%	4h
Nado ↗	+10.9%	24h
OKX ↗	+10.9%	4h
Bybit ↗	+10.9%	4h
BingX ↗	+10.9%	4h
Hyperliquid ↗	+10.9%	1h
Bitget ↗	+10.9%	4h
Gate.io ↗	+10.9%	4h
Vest ↗	+10.9%	1h
Aster ↗	+10.9%	1h
KuCoin ↗	+10.9%	4h
Pacifica ↗	+10.9%	1h
Lighter ↗	+10.5%	8h
dYdX ↗	+0.0%	1h
BackPack ↗	-56.8%	1h

Rates annualized; updated ~every few minutes from live venue data. Venue names link to that exchange's full funding table; ↗ opens the market on the exchange itself. Every spread between these two venues is on the BackPack vs Extended page.

ZRO arbitrage — 30-day backtest

long BackPack · short Extended

28.3%

backtested APR

+$233

historical net P&L on $10,000

0.07%

max drawdown

$10,000$10,233

30 days agostarting capital $10,000today

Over the last 30 days, holding long BackPack / short Extended would have produced 28.3% APR — versus the 105.6% the live spread implies right now (equity $10,000 → $10,233). This is a backtest on historical funding, not a live result: funding drifts and decays, so backtested results rarely match the current headline rate — which is why size and holding window matter more than the top-line number.

Open full interactive backtest →

Loading ZRO backtest…

ZRO funding — FAQ

Is ZRO funding positive right now?

ZRO perpetual funding is positive on 15 of 17 venues Perpia tracks and negative on 1. The highest is +52.6% on Extended; the lowest is -56.8% on BackPack.

What is the best ZRO funding arbitrage right now?

Go long BackPack and short Extended for about 105.6% net APR after fees — the widest delta-neutral ZRO spread Perpia currently sees.

Which exchange has the highest ZRO funding rate?

Extended, at +52.6% annualized. Funding shifts continuously, so check the live table above before trading.

How ZRO funding arbitrage works

Funding arbitrage combines opposing positions on two venues — long the one paying the most negative funding, short the one paying the most positive — to reduce directional exposure and capture the difference between their funding payments. Fees, slippage, basis divergence and liquidation risk can reduce the result. See the methodology for how it is measured and the guide for the full walkthrough.

Markets related to ZRO

Markets also quoted on both BackPack and Extended — the same two exchanges you would already have funded for the ZRO trade.

See every spread between them on the BackPack vs Extended page.

Open the live scanner →All funding rates Funding by exchange How we calculate this