Funding arb · Price arb /

ZBT

all ZBT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0035%/8h= −3.8% APRpaid last 24h +0.002%

Price spread now: Extended against BloFin−0.085%94s7-day average −0.041% · you buy dearer than you sell

Net, funding: paid 7d − costs−$103as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1021.018% of the position

Long on BloFin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.008%−$1 on $10k

Price spread, last 4 days (all we have)−0.095%−$10 · spread now −0.085%, 7d avg −0.041%

Together, before fees−0.103%+ Points / potential airdropExtended: Active · farm board−$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Extended is 0.044% cheaper against BloFin than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.041%). Swap the legs. The two prices were read 94 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ZBT-USDT	0.08621	0.0139	pay 0.0070% / 4h	3h 11m	$149K	$42K	50x
Short	Extended ZBT-USD	0.08614	0.0104	get 0.0013% / 1h	11m 29s	$3K	$200K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against BloFin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BloFinbpFee ExtendedbpOrdersPrice spread, now −0.085%Rate

Funding earned: −$7.37
Price spread: −0.085% → −0.041%: −$4.4
Slippage, 4 orders: −$84.76
Fee BloFin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$113.54
Costs to cover: 1.018%
Break-even: never at this rate

Slippage from BloFin: live order book, 53 min ago; Extended: live order book, 19 min ago.

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 BloFin live order book, 53 min ago	2.31 bp	17.6 bp −$18	73.4 bp −$734	doesn't fit	doesn't fit
Sell Extended live order book, 19 min ago	2.46 bp	34.3 bp −$34	doesn't fit	doesn't fit	doesn't fit

ZBT on 13 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
Kraken Futures PF_ZBTUSD	−0.0651%	1h	0.08601	−0.231%	$8K	$3K	10x	as long as short
Aster ZBTUSDT	+0.0100%	4h	0.08606	−0.175%	$9K	$47K	5x	as long as short
Binance ZBTUSDT	+0.0100%	4h	0.08619	−0.025%	$3.5M	$5.5M	50x	as long as short
Bybit ZBTUSDT	+0.0100%	4h	0.08617	−0.046%	$950K	$1.1M	25x	as long as short
OKX ZBT-USDT-SWAP	+0.0100%	4h	0.08613	−0.093%	$630K	$2.3M	10x	as long as short
MEXC ZBT_USDT	+0.0100%	4h	0.08620	−0.012%	$1.7M	$354K	100x	as long as short
KuCoin ZBTUSDTM	+0.0100%	4h	0.08618	−0.035%	$663K	$9.4M	50x	as long as short
Bitget ZBTUSDT	+0.0100%	4h	0.08623	+0.023%	$6.2M	$341K	10x	as long as short
BingX ZBT-USDT	+0.0100%	4h	0.08624	+0.035%	—	$1.3M	—	as long as short
Variational Omni ZBT	+0.0100%	4h	0.08627	+0.072%	$1K	$12K	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended ZBT-USDshort	+0.0104%	1h	0.08614	−0.085%	$3K	$200K	5x
BloFin ZBT-USDTlong	+0.0139%	4h	0.08621	long leg	$149K	$42K	50x
Gate ZBT_USDT	+0.0955%	8h	0.08621	0.000%	$562K	$753K	50x	as long as short