Funding arb · Price arb /

ZEREBRO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0216%/8h= −23.6% APRpaid last 24h +0.595%

Price spread now: Kraken Futures against Bybit+0.576%7-day average — · you sell dearer than you buy

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

Long on Bybit Short on Kraken Futures

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

The price spread pays, funding is against you. Kraken Futures is 0.576% dearer against Bybit than usual: you sell high and buy low (spread +0.576% now, against zero (this spread has no 7-day history yet)): +$58 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 8.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ZEREBROUSDT	0.03410	0.0100	pay 0.0050% / 4h	1h 58m	$5.3M	$908K	13x
Short	Kraken Futures PF_ZEREBROUSD	0.03429	−0.0116	pay 0.0014% / 1h	58m 11s	$3K	$2K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.576%Rate

Funding earned: −$45.3
Price spread: +0.576% → 0.000%: $57.64
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$8.66
Costs to cover: 0.210%
Break-even: from the start

Slippage unknown: Bybit: live order book, 5 min ago; Kraken Futures: no order-book sample. 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 Bybit live order book, 5 min ago	4.38 bp	52.5 bp −$52	378.1 bp −$3,781	doesn't fit	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

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.

ZEREBRO on 10 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_ZEREBROUSDshort	−0.0116%	1h	0.03429	+0.576%	$3K	$2K	10x
KuCoin ZEREBROUSDTM	+0.0034%	4h	0.03410	+0.003%	$1.5M	$2.9M	10x	as long as short
Bybit ZEREBROUSDTlong	+0.0100%	4h	0.03410	long leg	$5.3M	$908K	13x
Gate ZEREBRO_USDT	+0.0100%	4h	0.03414	+0.129%	$461K	$22K	10x	as long as short
Variational Omni ZEREBRO	+0.0100%	4h	0.03417	+0.229%	$109K	$15K	—	as long as short
Extended ZEREBRO-USD	+0.0384%	1h	0.03417	+0.222%	$3K	$158K	5x	as long as short
MEXC ZEREBRO_USDT	+0.0384%	4h	0.03419	+0.267%	$7.1M	$124K	50x	as long as short
Binance ZEREBROUSDT	+0.0385%	4h	0.03418	+0.250%	$4.7M	$1.4M	10x	as long as short
BingX ZEREBRO-USDT	+0.0396%	4h	0.03416	+0.182%	—	$1.3M	—	as long as short
Aster ZEREBROUSDT	+0.0414%	4h	0.03422	+0.350%	$384K	$19K	5x	as long as short