Funding arb · Price arb /

ZIL

all ZIL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.1366%/8h= −149.6% APRpaid last 24h +0.063%

Price spread now: Bybit against BloFin+0.027%112s7-day average +0.246% · you sell dearer than you buy

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$850.851% of the position

Long on BloFin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.029%+$3 on $10k

Price spread, last 3 days (all we have)+0.140%+$14 · spread now +0.027%, 7d avg +0.246%

Together, before fees+0.169%+$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$41 a day on $10k at the current rate, and Bybit is 0.219% cheaper against BloFin than usual: you would sell low and buy high (−$22 if the spread goes back to its 7-day average of +0.246%). Swap the legs. The two prices were read 112 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.029% in total (about 1.5% 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	BloFin ZIL-USDT	0.003642	−0.0673	get 0.0337% / 4h	3h 13m	$258K	$154K	25x
Short	Bybit ZILUSDT	0.003643	−0.2039	pay 0.2039% / 8h	7h 13m	$2.9M	$3.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against BloFin. 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 BloFinbpFee BybitbpOrdersPrice spread, now +0.027%Rate

Funding earned: −$286.88
Price spread: +0.027% → +0.246%: −$21.86
Slippage, 4 orders: −$62.11
Fee BloFin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$393.85
Costs to cover: 0.851%
Break-even: never at this rate

Slippage from BloFin: live order book, 53 min ago; Bybit: 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 BloFin live order book, 53 min ago	4.16 bp	14.6 bp −$15	36.0 bp −$360	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	1.37 bp	36.3 bp −$36	109.5 bp −$1,095	doesn't fit	doesn't fit

ZIL 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_ZILUSD	−0.3476%	1h	0.003658	+0.451%	$30K	$8K	10x	as long as short
Bybit ZILUSDTshort	−0.2039%	8h	0.003643	+0.027%	$2.9M	$3.7M	25x
KuCoin ZILUSDTM	−0.1838%	4h	0.003671	+0.796%	$2.4M	$225K	25x	as long as short
Gate ZIL_USDT	−0.1796%	4h	0.003655	+0.357%	$414K	$330K	50x	as long as short
BingX ZIL-USDT	−0.1574%	4h	0.003645	+0.082%	—	$2.5M	—	as long as short
OKX ZIL-USDT-SWAP	−0.0891%	4h	0.003646	+0.110%	$1.0M	$2.7M	20x	as long as short
Aster ZILUSDT	−0.0885%	4h	0.003642	−0.001%	$147K	$50K	10x	as long as short
Binance ZILUSDT	−0.0729%	4h	0.003639	−0.076%	$4.5M	$10.6M	25x	as long as short
MEXC ZIL_USDT	−0.0726%	4h	0.003639	−0.082%	$2.4M	$862K	125x	as long as short
BloFin ZIL-USDTlong	−0.0673%	4h	0.003642	long leg	$258K	$154K	25x

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ZILUSDT	−0.0662%	4h	0.003646	+0.110%	$1.3M	$867K	25x	as long as short
Variational Omni ZIL	−0.0648%	8h	0.003644	+0.053%	$16K	$26K	—	as long as short