Funding you earn now, next payment 00:00 UTC−0.0137%/8h= −15.0% APRpaid last 24h −0.029%
Price spread now: Bybit against Binance−0.067%7-day average +0.044% · you buy dearer than you sell
Net, funding: paid 7d − costs−$169as in the Funding arb table
Net, price: spread back to 7d avg − costs−$144as in the Price arb table
costs, in and out, $10k−$1331.329% of the position
Funding, last 7 days−0.357%−$36 on $10k
+Price spread, last 7 days+0.141%+$14 · spread now −0.067%, 7d avg +0.044%
=Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Bybit is 0.111% cheaper against Binance than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.044%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance ZRXUSDT | 0.1193 | 0.0100 | pay 0.0050% / 4h | 2h 38m | $1.8M | $1.2M | 50x |
| Short | Bybit ZRXUSDT | 0.1192 | −0.0037 | pay 0.0037% / 8h | 2h 38m | $1.4M | $373K | 25x |
Binance ZRXUSDT
Bybit ZRXUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Binance. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$28.76
- Price spread: −0.067% → +0.044%
- −$11.06
- Slippage, 4 orders
- −$111.93
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$172.75
- Costs to cover
- 1.329%
- Break-even
- never at this rate
Slippage from Binance: live order book, 10 min ago; Bybit: live order book, 2 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 Binance live order book, 10 min ago | 4.21 bp | 23.4 bp −$23 | 162.8 bp −$1,628 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 2 min ago | 2.10 bp | 43.9 bp −$44 | doesn't fit | doesn't fit | doesn't fit |
ZRX 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 ZRXUSDTshort | −0.0037% | 8h | 0.1192 | −0.067% | $1.4M | $373K | 25x | |
| BloFin ZRX-USDT | +0.0073% | 4h | 0.1189 | −0.335% | $95K | $19K | 50x | as long as short |
| Binance ZRXUSDTlong | +0.0100% | 4h | 0.1193 | long leg | $1.8M | $1.2M | 50x | |
| OKX ZRX-USDT-SWAP | +0.0100% | 4h | 0.1193 | +0.017% | $533K | $236K | 20x | as long as short |
| Gate ZRX_USDT | +0.0100% | 8h | 0.1191 | −0.142% | $146K | $40K | 75x | as long as short |
| MEXC ZRX_USDT | +0.0100% | 4h | 0.1192 | −0.084% | $884K | $159K | 50x | as long as short |
| KuCoin ZRXUSDTM | +0.0100% | 4h | 0.1192 | −0.084% | $331K | $57K | 30x | as long as short |
| Bitget ZRXUSDT | +0.0100% | 4h | 0.1191 | −0.168% | $578K | $193K | 50x | as long as short |
| BingX ZRX-USDT | +0.0100% | 4h | 0.1193 | 0.000% | — | $2.3M | — | as long as short |
| Variational Omni ZRX | +0.0100% | 8h | 0.1190 | −0.272% | $29K | $35K | — | as long as short |
BloFin ZRX-USDT
OKX ZRX-USDT-SWAP
Gate ZRX_USDT
MEXC ZRX_USDT
KuCoin ZRXUSDTM
Bitget ZRXUSDT
BingX ZRX-USDT
Variational Omni ZRXShow all 11 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_ZRXUSD | +0.0363% | 1h | 0.1195 | +0.175% | $40K | $3K | 10x | as long as short |
Kraken Futures PF_ZRXUSD