Funding arb · Price arb /

ZBT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against Bybit−0.047%7-day average −0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$91as in the Funding arb table

Net, price: spread back to 7d avg − costs−$118as in the Price arb table

costs, in and out, $10k−$1141.142% of the position

Long on Bybit Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.234%+$23 on $10k

Price spread, last 4 days (all we have)−0.044%−$4 · spread now −0.047%, 7d avg −0.007%

Together, before fees+0.189%+$19 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BingX is 0.039% cheaper against Bybit than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ZBTUSDT	0.08596	0.0100	pay 0.0050% / 4h	2h 21m	$963K	$1.1M	25x
Short	BingX ZBT-USDT	0.08592	0.0100	get 0.0050% / 4h	2h 21m	—	$1.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Bybit. 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 BybitbpFee BingXbpOrdersPrice spread, now −0.047%Rate

Funding earned: $0
Price spread: −0.047% → −0.007%: −$3.92
Slippage, 4 orders: −$93.16
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee BingX: 5 bp × 2 orders: −$10
Net: −$118.07
Costs to cover: 1.142%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; BingX: live order book, 3 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 Bybit live order book, 2 min ago	2.33 bp	36.5 bp −$37	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 3 min ago	4.08 bp	20.7 bp −$21	68.6 bp −$686	422.3 bp −$42.2K	1184.0 bp −$592.0K

ZBT on 13 exchanges

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	−0.0579%	1h	0.08589	−0.079%	$8K	$3K	10x	as long as short
Aster ZBTUSDT	+0.0100%	4h	0.08591	−0.058%	$10K	$48K	5x	as long as short
Binance ZBTUSDT	+0.0100%	4h	0.08595	−0.012%	$3.5M	$5.5M	50x	as long as short
Bybit ZBTUSDTlong	+0.0100%	4h	0.08596	long leg	$963K	$1.1M	25x
OKX ZBT-USDT-SWAP	+0.0100%	4h	0.08581	−0.174%	$647K	$2.3M	10x	as long as short
MEXC ZBT_USDT	+0.0100%	4h	0.08595	−0.012%	$1.7M	$355K	100x	as long as short
KuCoin ZBTUSDTM	+0.0100%	4h	0.08592	−0.047%	$661K	$9.4M	50x	as long as short
Bitget ZBTUSDT	+0.0100%	4h	0.08598	+0.023%	$6.2M	$347K	10x	as long as short
BingX ZBT-USDTshort	+0.0100%	4h	0.08592	−0.047%	—	$1.3M	—
Variational Omni ZBT	+0.0100%	4h	0.08589	−0.079%	$956	$12K	—	as long as short

Show all 13 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended ZBT-USD	+0.0104%	1h	0.08592	−0.042%	$2K	$200K	5x	as long as short
BloFin ZBT-USDT	+0.0140%	4h	0.08586	−0.116%	$150K	$41K	50x	as long as short
Gate ZBT_USDT	+0.0190%	8h	0.08591	−0.058%	$553K	$754K	50x	as long as short