ZEREBRO

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0200%/8h= +21.9% APRnext payment +$1.00 per $10,000 · paid last 24h +0.072%

Price spread now: BingX against Bybit−0.018%7-day average +0.099% · you buy dearer than you sell

Net, funding: paid 7d − costs−$167as in the Funding arb table

Net, price: spread back to 7d avg − costs−$190as in the Price arb table

costs, in and out, $10k−$1791.788% of the position

Long on Bybit Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.120%+$12 on $10k

Price spread, last 7 days+0.046%+$5 · spread now −0.018%, 7d avg +0.099%

Together, before fees+0.166%+$17 on $10k · with fees, hour by hour

Funding pays, the price is against you. BingX is 0.116% cheaper against Bybit than usual: you would sell low and buy high (spread −0.018% now, against its 7-day average of +0.099%). If the spread goes back, that is −$12 on $10k: about 47 hours of funding at the current rate (+$6 a day). At the pace of the last 7 days (+0.120% in total) that is about 6.8 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.120% in total (about 6.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.00 per $10,000. 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	Bybit ZEREBROUSDT	0.03422	0.0100	pay 0.0050% / 4h	26m 10s	$5.3M	$927K	13x
Short	BingX ZEREBRO-USDT	0.03421	0.0300	get 0.0150% / 4h	26m 10s	—	$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 −0.018%Rate

Funding earned: $42
Price spread: −0.018% → +0.099%: −$11.64
Slippage, 4 orders: −$157.82
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee BingX: 5 bp × 2 orders: −$10
Net: −$148.46
Costs to cover: 1.788%
Break-even: 31.7 days

Slippage from Bybit: live order book, 2 min ago; BingX: 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 Bybit live order book, 2 min ago	2.93 bp	53.8 bp −$54	336.7 bp −$3,367	doesn't fit	doesn't fit
Sell BingX live order book, 4 min ago	4.82 bp	41.7 bp −$42	246.4 bp −$2,464	629.4 bp −$62.9K	825.1 bp −$412.6K

ZEREBRO on 11 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_ZEREBROUSD	+0.0033%	1h	0.03420	−0.057%	$3K	$2K	10x	as long as short
KuCoin ZEREBROUSDTM	+0.0084%	4h	0.03415	−0.187%	$1.5M	$3.0M	10x	as long as short
Bybit ZEREBROUSDTlong	+0.0100%	4h	0.03422	long leg	$5.3M	$927K	13x
Gate ZEREBRO_USDT	+0.0100%	4h	0.03416	−0.167%	$458K	$24K	10x	as long as short
Variational Omni ZEREBRO	+0.0100%	4h	0.03416	−0.169%	$109K	$15K	—	as long as short
MEXC ZEREBRO_USDT	+0.0292%	4h	0.03426	+0.114%	$7.1M	$126K	50x	as long as short
Binance ZEREBROUSDT	+0.0292%	4h	0.03427	+0.144%	$4.7M	$1.4M	10x	as long as short
Extended ZEREBRO-USD	+0.0296%	1h	0.03427	+0.141%	$917	$154K	5x	as long as short
BingX ZEREBRO-USDTshort	+0.0300%	4h	0.03421	−0.018%	—	$1.3M	—
Aster ZEREBROUSDT	+0.0325%	4h	0.03422	+0.015%	$384K	$19K	5x	as long as short

Show all 11 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin ZEREBRO-USDT	+0.0345%	4h	0.03425	+0.099%	$273K	$12K	10x	as long as short