Funding arb · Price arb /

ZBT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0816%/8h= +89.3% APRpaid last 24h +0.181%

Price spread now: Bybit against Kraken Futures+0.051%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Kraken Futures Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$24 a day on $10k at the current rate, and Bybit is 0.051% dearer against Kraken Futures than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ZBTUSD	0.08496	−0.0716	get 0.0089% / 1h	16m 22s	$7K	$1K	10x
Short	Bybit ZBTUSDT	0.08500	0.0100	get 0.0050% / 4h	2h 16m	$911K	$934K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Kraken Futures. 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 Kraken FuturesbpFee BybitbpOrdersPrice spread, now +0.051%Rate

Funding earned: $171.29
Price spread: +0.051% → 0.000%: $5.08
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $155.37
Costs to cover: 0.210%
Break-even: 0.7 days

Slippage unknown: Kraken Futures: no order-book sample; Bybit: live order book, 29 min ago. Net counts fees only.

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 Kraken Futures no order-book sample	—	—	—	—	—
Sell Bybit live order book, 29 min ago	1.74 bp	33.6 bp −$34	426.8 bp −$4,268	doesn't fit	doesn't fit

Kraken Futures: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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_ZBTUSDlong	−0.0716%	1h	0.08496	long leg	$7K	$1K	10x
Aster ZBTUSDT	+0.0100%	4h	0.08506	+0.122%	$11K	$41K	5x	as long as short
Binance ZBTUSDT	+0.0100%	4h	0.08504	+0.099%	$3.4M	$4.8M	50x	as long as short
Bybit ZBTUSDTshort	+0.0100%	4h	0.08500	+0.051%	$911K	$934K	25x
OKX ZBT-USDT-SWAP	+0.0100%	4h	0.08496	+0.004%	$616K	$2.1M	10x	as long as short
Gate ZBT_USDT	+0.0100%	8h	0.08510	+0.169%	$530K	$668K	50x	as long as short
MEXC ZBT_USDT	+0.0100%	4h	0.08501	+0.063%	$1.5M	$277K	100x	as long as short
KuCoin ZBTUSDTM	+0.0100%	4h	0.08499	+0.039%	$672K	$9.4M	50x	as long as short
Bitget ZBTUSDT	+0.0100%	4h	0.08504	+0.098%	$6.2M	$286K	10x	as long as short
BingX ZBT-USDT	+0.0100%	4h	0.08505	+0.110%	—	$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	0.08495	−0.008%	$1K	$13K	—	as long as short
Extended ZBT-USD	+0.0104%	1h	0.08499	+0.041%	$1K	$193K	5x	as long as short
BloFin ZBT-USDT	+0.0132%	4h	0.08509	+0.157%	$154K	$28K	50x	as long as short