Settings8H · net · $10k
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Funding arb · Price arb / Crypto

2Z

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LegExchangePriceFund. /8hEach paymentNext inOIVol 24hLev
LONG
Bybit Spot2ZUSDT
0.02112spotno funding——$124K1xBuy Bybit Spot
SHORT
Bybit2ZUSDT
0.02109−0.0576pay 0.0288% / 4h2h 03m$963K$2.3M50xShort Bybit
Price gap−0.118%
Funding gap−0.0576% /8h

Both sides work against this pair now: funding costs $17 a day on $10k and the gap is 0.056% under its 7d average. Spot cannot be shorted here, so there is no reverse.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast
Funding+$3−0.0576% /8h now · paid +0.031% over the last 7D
Price−$6spread −0.118% now, avg −0.062% → −0.056% if it goes back
Costs−$1,10711.072% of $10k · taker + slippage, in and out
Result−$1,110−11.10%no points

The current funding rate is far below what this pair has been paying: over the last 7 days it paid +0.031% in total, about +0.0015%/8h on average.

Price and funding

1h · history
PRICE SPREAD · 7D
Now−0.118%
Average—
Range—
Wider than now—
FUNDING SPREAD · 7D
Average /8h—
Highest—
Lowest—
Paid you—

Where the spread has been, last 7D

share of time at each level

Funding on every exchange

/8h

2Z on 15 exchanges

lowest funding first

Before you open

1 ok · 4 to watch
  • Watch: Thin at this size976.6 / 17.5 bp
    At $10k entering Bybit Spot costs 976.6 bp, fee and slippage, 55.8× Bybit’s.
  • Note: Spot in full, margin on the short$10,000 + $200
    The spot leg is bought with the whole $10k; Bybit runs at up to 50x. Only the short can be liquidated, when the price rises, while the spot leg's gain is not yet realised: keep about 2× the margin on Bybit.
  • OK: Only the short pays funding— / 4h
    The spot leg pays no funding; Bybit settles every 4h.
    Next 24h at the current rates, on $10k a leg: −$17.29Long Bybit Spot: 0 payments, $0.00; short Bybit: 6 payments, −$17.29.
  • Watch: Gap narrower than usual−0.118% vs −0.062%
    Less room for the price leg to pay you. If it goes back to average, the short loses.
  • Watch: Short leg is thin$963K OI
    Bybit sets your exit cost. Check its book before closing.
  • Note: No points program—
    Neither exchange runs points right now.
  • Watch: KYCBybit Spot Yes · Bybit Yes
    Standard verification is mandatory for every product.

Profit calculator

both legs, in and out
Position, each leg
Hold for
Orders
Price spread
Funding rate
Funding earned+0.0015%/8h × 21 periods+$3.07
Price spread−0.118% → −0.062% (7d avg)−$5.61
Slippage, 4 orderslive order books−$1,076.15
Fee Bybit Spot bp × 2 orders−$20.00
Fee Bybit bp × 2 orders−$11.00
Net · 7 days · $10k−$1,109.69
Costs to cover11.072%Break-even2536.5 days
Slippage: Bybit Spot: live order book, 55 min ago; Bybit: live order book, 1 min ago

Cost to enter

taker + slippage from mid, one side
BUY · LONGBybit Spot11.85976.6 bp−$977doesn’t fitdoesn’t fitdoesn’t fit
SELL · SHORTBybit4.7417.5 bp−$18161.5 bp−$1,615doesn’t fitdoesn’t fit

Closing costs about the same again.

Alert

2Z news

posts that mention 2Z, from every exchange
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