Funding arb · Price arb /

ZBT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0507%/8h= −55.5% APRpaid last 24h 0.000%

Price spread now: MEXC against Gate+0.107%7-day average −0.062% · 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−$90as in the Price arb table

costs, in and out, $10k−$1071.073% of the position

Long on Gate Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.016%−$2 on $10k

Price spread, last 4 days (all we have)−0.164%−$16 · spread now +0.107%, 7d avg −0.062%

Together, before fees−0.180%−$18 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.169% dearer against Gate than usual: you sell high and buy low (spread +0.107% now, against its 7-day average of −0.062%): +$17 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 27 hours. At the pace of the last 7 days (−0.016% in total) that is about 2 months.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.016% in total (about -0.8% 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	0.08432	0.0607	pay 0.0607% / 8h	6h 27m	$544K	$552K	50x
Short	MEXC ZBT_USDT	0.08441	0.0100	get 0.0050% / 4h	2h 27m	$1.4M	$200K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.107%Rate

Funding earned: −$106.47
Price spread: +0.107% → −0.062%: $16.91
Slippage, 4 orders: −$88.33
Fee Gate: 7.5 bp × 2 orders: −$15
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$196.89
Costs to cover: 1.073%
Break-even: never at this rate

Slippage from Gate: live order book, 39 min ago; MEXC: live order book, 4 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, 39 min ago	5.95 bp	48.1 bp −$48	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	1.19 bp	8.4 bp −$8	56.2 bp −$562	264.3 bp −$26.4K	777.5 bp −$388.8K

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	−0.0472%	1h	0.08434	+0.021%	$7K	$7K	10x	as long as short
Aster ZBTUSDT	+0.0100%	4h	0.08415	−0.206%	$10K	$15K	5x	as long as short
Binance ZBTUSDT	+0.0100%	4h	0.08448	+0.190%	$3.2M	$2.7M	50x	as long as short
Bybit ZBTUSDT	+0.0100%	4h	0.08447	+0.178%	$866K	$453K	25x	as long as short
OKX ZBT-USDT-SWAP	+0.0100%	4h	0.08441	+0.107%	$561K	$1.4M	10x	as long as short
MEXC ZBT_USDTshort	+0.0100%	4h	0.08441	+0.107%	$1.4M	$200K	100x
KuCoin ZBTUSDTM	+0.0100%	4h	0.08440	+0.095%	$737K	$9.8M	50x	as long as short
Bitget ZBTUSDT	+0.0100%	4h	0.08428	−0.047%	$6.1M	$140K	10x	as long as short
BingX ZBT-USDT	+0.0100%	4h	0.08445	+0.154%	—	$1.3M	—	as long as short
Variational Omni ZBT	+0.0100%	4h	0.08433	+0.008%	$900	$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	0.08445	+0.153%	$2K	$124K	5x	as long as short
Gate ZBT_USDTlong	+0.0607%	8h	0.08432	long leg	$544K	$552K	50x