Funding you earn now, next payment 00:00 UTC−0.0237%/8h= −26.0% APRnext payment −$2.37 per $10,000 · paid last 24h −0.029%
Price spread now: Bybit against Gate0.000%7-day average +0.056% · you sell dearer than you buy
Net, funding: paid 7d − costs−$564as in the Funding arb table
Net, price: spread back to 7d avg − costs−$534as in the Price arb table
costs, in and out, $10k−$5295.286% of the position
Funding, last 7 days−0.351%−$35 on $10k
+Price spread, last 4 days (all we have)+0.162%+$16 · spread now 0.000%, 7d avg +0.056%
=Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Bybit is 0.056% cheaper against Gate than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.056%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Gate ZRX_USDT | 0.1193 | 0.0100 | pay 0.0100% / 8h | 1h 51m | $146K | $40K | 75x |
| Short | Bybit ZRXUSDT | 0.1193 | −0.0137 | pay 0.0137% / 8h | 1h 51m | $1.4M | $328K | 25x |
Gate ZRX_USDT
Bybit ZRXUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Gate. 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
- −$49.83
- Price spread: 0.000% → +0.056%
- −$5.6
- Slippage, 4 orders
- −$502.61
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$584.04
- Costs to cover
- 5.286%
- Break-even
- never at this rate
Slippage from Gate: live order book, 24 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 Gate live order book, 24 min ago | 6.70 bp | 166.3 bp −$166 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 4 min ago | 4.61 bp | 52.0 bp −$52 | 184.9 bp −$1,849 | 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 | −0.0137% | 8h | 0.1193 | 0.000% | $1.4M | $328K | 25x | |
| KuCoin ZRXUSDTM | +0.0026% | 4h | 0.1191 | −0.193% | $330K | $57K | 30x | as long as short |
| Kraken Futures PF_ZRXUSD | +0.0035% | 1h | 0.1196 | +0.185% | $40K | $2K | 10x | as long as short |
| Binance ZRXUSDT | +0.0100% | 4h | 0.1194 | +0.059% | $1.8M | $1.2M | 50x | as long as short |
| OKX ZRX-USDT-SWAP | +0.0100% | 4h | 0.1195 | +0.134% | $531K | $238K | 20x | as long as short |
| Gate ZRX_USDTlong | +0.0100% | 8h | 0.1193 | long leg | $146K | $40K | 75x | |
| MEXC ZRX_USDT | +0.0100% | 4h | 0.1193 | −0.025% | $885K | $161K | 50x | as long as short |
| Bitget ZRXUSDT | +0.0100% | 4h | 0.1192 | −0.109% | $579K | $127K | 50x | as long as short |
| BingX ZRX-USDT | +0.0100% | 4h | 0.1194 | +0.059% | — | $2.3M | — | as long as short |
| Variational Omni ZRX | +0.0100% | 8h | 0.1193 | +0.004% | $29K | $35K | — | as long as short |
KuCoin ZRXUSDTM
Kraken Futures PF_ZRXUSD
Binance ZRXUSDT
OKX ZRX-USDT-SWAP
MEXC ZRX_USDT
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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin ZRX-USDT | +0.0153% | 4h | 0.1194 | +0.059% | $95K | $19K | 50x | as long as short |
BloFin ZRX-USDT