Funding arb · Price arb /

ZBT

all ZBT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Bybit against Extended−0.064%7-day average +0.077% · you buy dearer than you sell

Net, funding: paid 7d − costs−$183as in the Funding arb table

Net, price: spread back to 7d avg − costs−$196as in the Price arb table

costs, in and out, $10k−$1821.822% of the position

Long on Extended Short on Bybit

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)+0.145%+$14 · spread now −0.064%, 7d avg +0.077%

Together, before fees+0.136%+ Points / potential airdropExtended: Active · farm board+$14 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: Bybit is 0.140% cheaper against Extended than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of +0.077%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ZBT-USD	0.08337	0.0104	pay 0.0013% / 1h	28m 56s	$2K	$159K	5x
Short	Bybit ZBTUSDT	0.08332	0.0100	get 0.0050% / 4h	28m 56s	$863K	$438K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

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

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

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 ExtendedbpFee BybitbpOrdersPrice spread, now −0.064%Rate

Funding earned: −$0.84
Price spread: −0.064% → +0.077%: −$14.02
Slippage, 4 orders: −$166.16
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$197.01
Costs to cover: 1.822%
Break-even: never at this rate

Slippage from Extended: live order book, 47 min ago; Bybit: live order book, 46 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 Extended live order book, 47 min ago	2.28 bp	24.8 bp −$25	257.3 bp −$2,573	doesn't fit	doesn't fit
Sell Bybit live order book, 46 min ago	4.80 bp	46.7 bp −$47	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	−0.0605%	1h	0.08332	−0.061%	$7K	$6K	10x	as long as short
Aster ZBTUSDT	+0.0100%	4h	0.08341	+0.041%	$10K	$16K	5x	as long as short
Binance ZBTUSDT	+0.0100%	4h	0.08339	+0.019%	$3.2M	$2.6M	50x	as long as short
Bybit ZBTUSDTshort	+0.0100%	4h	0.08332	−0.064%	$863K	$438K	25x
OKX ZBT-USDT-SWAP	+0.0100%	4h	0.08330	−0.088%	$567K	$1.4M	10x	as long as short
Gate ZBT_USDT	+0.0100%	8h	0.08337	−0.004%	$538K	$545K	50x	as long as short
MEXC ZBT_USDT	+0.0100%	4h	0.08335	−0.028%	$1.4M	$199K	100x	as long as short
KuCoin ZBTUSDTM	+0.0100%	4h	0.08340	+0.032%	$710K	$9.7M	50x	as long as short
Bitget ZBTUSDT	+0.0100%	4h	0.08332	−0.064%	$6.0M	$139K	10x	as long as short
BingX ZBT-USDT	+0.0100%	4h	0.08333	−0.052%	—	$1.3M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni ZBT	+0.0100%	4h	0.08337	−0.003%	$890	$453	—	as long as short
Extended ZBT-USDlong	+0.0104%	1h	0.08337	long leg	$2K	$159K	5x
BloFin ZBT-USDT	+0.0153%	4h	0.08340	+0.032%	$147K	$12K	50x	as long as short