Funding arb · Price arb /

ZBT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0342%/8h= −37.4% APRpaid last 24h 0.000%

Price spread now: BingX against Gate+0.059%7-day average −0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$109as in the Funding arb table

Net, price: spread back to 7d avg − costs−$123as in the Price arb table

costs, in and out, $10k−$1311.306% of the position

Long on Gate Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.218%+$22 on $10k

Price spread, last 4 days (all we have)−0.053%−$5 · spread now +0.059%, 7d avg −0.015%

Together, before fees+0.164%+$16 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BingX is 0.075% dearer against Gate than usual: you sell high and buy low (spread +0.059% now, against its 7-day average of −0.015%): +$7 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 17 hours. Mind the row above: over the last 7 days funding on this pair paid +0.218%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.218% in total (about 11.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ZBT_USDT	0.08409	0.0442	pay 0.0442% / 8h	6h 08m	$542K	$557K	50x
Short	BingX ZBT-USDT	0.08414	0.0100	get 0.0050% / 4h	2h 08m	—	$1.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Gate. 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 GatebpFee BingXbpOrdersPrice spread, now +0.059%Rate

Funding earned: −$71.82
Price spread: +0.059% → −0.015%: $7.46
Slippage, 4 orders: −$105.57
Fee Gate: 7.5 bp × 2 orders: −$15
Fee BingX: 5 bp × 2 orders: −$10
Net: −$194.94
Costs to cover: 1.306%
Break-even: never at this rate

Slippage from Gate: live order book, 58 min ago; BingX: live order book, 6 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 Gate live order book, 58 min ago	5.95 bp	48.1 bp −$48	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 6 min ago	2.37 bp	20.8 bp −$21	74.9 bp −$749	469.3 bp −$46.9K	1032.9 bp −$516.4K

ZBT on 12 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	−0.0474%	1h	0.08391	−0.217%	$7K	$7K	10x	as long as short
Aster ZBTUSDT	+0.0100%	4h	0.08404	−0.062%	$10K	$15K	5x	as long as short
Binance ZBTUSDT	+0.0100%	4h	0.08415	+0.077%	$3.2M	$2.6M	50x	as long as short
Bybit ZBTUSDT	+0.0100%	4h	0.08410	+0.012%	$862K	$447K	25x	as long as short
OKX ZBT-USDT-SWAP	+0.0100%	4h	0.08407	−0.024%	$559K	$1.4M	10x	as long as short
MEXC ZBT_USDT	+0.0100%	4h	0.08404	−0.059%	$1.4M	$202K	100x	as long as short
KuCoin ZBTUSDTM	+0.0100%	4h	0.08407	−0.024%	$741K	$9.8M	50x	as long as short
Bitget ZBTUSDT	+0.0100%	4h	0.08413	+0.048%	$6.1M	$140K	10x	as long as short
BingX ZBT-USDTshort	+0.0100%	4h	0.08414	+0.059%	—	$1.3M	—
Variational Omni ZBT	+0.0100%	4h	0.08414	+0.054%	$899	$453	—	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended ZBT-USD	+0.0104%	1h	0.08402	−0.086%	$2K	$119K	5x	as long as short
Gate ZBT_USDTlong	+0.0442%	8h	0.08409	long leg	$542K	$557K	50x