Funding arb · Price arb /

ZEREBRO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0196%/8h= +21.5% APRpaid last 24h +0.067%

Price spread now: Extended against Bybit+0.199%7-day average +0.144% · you sell dearer than you buy

Net, funding: paid 7d − costs−$287as in the Funding arb table

Net, price: spread back to 7d avg − costs−$294as in the Price arb table

costs, in and out, $10k−$2992.992% of the position

Long on Bybit Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.124%+$12 on $10k

Price spread, last 4 days (all we have)−0.001%$0 · spread now +0.199%, 7d avg +0.144%

Together, before fees+0.122%+ Points / potential airdropExtended: Active · farm board+$12 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Extended is 0.056% dearer against Bybit than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.144%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.124% in total (about 6.5% 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	Bybit ZEREBROUSDT	0.03401	0.0100	pay 0.0050% / 4h	2h 36m	$5.3M	$942K	13x
Short	Extended ZEREBRO-USD	0.03407	0.0296	get 0.0037% / 1h	36m 30s	$974	$227K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Bybit. 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 BybitbpFee ExtendedbpOrdersPrice spread, now +0.199%Rate

Funding earned: $41.16
Price spread: +0.199% → +0.144%: $5.57
Slippage, 4 orders: −$283.24
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$252.52
Costs to cover: 2.992%
Break-even: 49.9 days

Slippage from Bybit: live order book, 6 min ago; Extended: live order book, 10 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, 6 min ago	4.40 bp	57.1 bp −$57	303.8 bp −$3,038	doesn't fit	doesn't fit
Sell Extended live order book, 10 min ago	4.53 bp	112.6 bp −$113	doesn't fit	doesn't fit	doesn't fit

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
Bybit ZEREBROUSDTlong	+0.0100%	4h	0.03401	long leg	$5.3M	$942K	13x
Gate ZEREBRO_USDT	+0.0100%	4h	0.03409	+0.253%	$457K	$25K	10x	as long as short
KuCoin ZEREBROUSDTM	+0.0100%	4h	0.03404	+0.097%	$1.5M	$2.9M	10x	as long as short
Variational Omni ZEREBRO	+0.0100%	4h	0.03405	+0.132%	$109K	$15K	—	as long as short
BloFin ZEREBRO-USDT	+0.0282%	4h	0.03406	+0.162%	$275K	$12K	10x	as long as short
Binance ZEREBROUSDT	+0.0286%	4h	0.03408	+0.222%	$4.7M	$1.4M	10x	as long as short
MEXC ZEREBRO_USDT	+0.0294%	4h	0.03407	+0.185%	$7.1M	$125K	50x	as long as short
Extended ZEREBRO-USDshort	+0.0296%	1h	0.03407	+0.199%	$974	$227K	5x
Aster ZEREBROUSDT	+0.0301%	4h	0.03409	+0.258%	$383K	$19K	5x	as long as short
BingX ZEREBRO-USDT	+0.0324%	4h	0.03404	+0.091%	—	$1.3M	—	as long as short

Show all 11 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_ZEREBROUSD	+0.0549%	1h	0.03401	+0.025%	$3K	$2K	10x	as long as short