Funding arb · Price arb /

ZBT

all ZBT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0264%/8h= +28.9% APRpaid last 24h −0.002%

Price spread now: Gate against BloFin−0.012%108s7-day average +0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$128as 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−$1281.276% of the position

Long on BloFin Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.025%−$2 · spread now −0.012%, 7d avg +0.039%

Together, before fees−0.025%−$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. Gate is 0.051% cheaper against BloFin than usual: you would sell low and buy high (spread −0.012% now, against its 7-day average of +0.039%). If the spread goes back, that is −$5 on $10k: about 16 hours of funding at the current rate (+$8 a day). The two prices were read 108 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 -0.000% in total (about -0.0% 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 ZBT-USDT	0.08405	0.0089	pay 0.0045% / 4h	15m 24s	$118K	$20K	50x
Short	Gate ZBT_USDT	0.08404	0.0353	get 0.0353% / 8h	4h 15m	$536K	$545K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.012%Rate

Funding earned: $55.42
Price spread: −0.012% → +0.039%: −$5.14
Slippage, 4 orders: −$100.59
Fee BloFin: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$77.31
Costs to cover: 1.276%
Break-even: 16.8 days

Slippage from BloFin: live order book, 14 min ago; Gate: live order book, 41 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, 14 min ago	1.19 bp	18.7 bp −$19	54.1 bp −$541	doesn't fit	doesn't fit
Sell Gate live order book, 41 min ago	2.98 bp	43.6 bp −$44	doesn't fit	doesn't fit	doesn't fit

ZBT on 13 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_ZBTUSD	−0.0850%	1h	0.08397	−0.094%	$7K	$7K	10x	as long as short
BloFin ZBT-USDTlong	+0.0089%	4h	0.08405	long leg	$118K	$20K	50x
Aster ZBTUSDT	+0.0100%	4h	0.08389	−0.188%	$11K	$14K	5x	as long as short
Binance ZBTUSDT	+0.0100%	4h	0.08406	+0.009%	$3.2M	$2.6M	50x	as long as short
Bybit ZBTUSDT	+0.0100%	4h	0.08400	−0.059%	$866K	$435K	25x	as long as short
OKX ZBT-USDT-SWAP	+0.0100%	4h	0.08401	−0.048%	$553K	$1.4M	10x	as long as short
MEXC ZBT_USDT	+0.0100%	4h	0.08403	−0.024%	$1.4M	$201K	100x	as long as short
KuCoin ZBTUSDTM	+0.0100%	4h	0.08403	−0.024%	$726K	$9.4M	50x	as long as short
Bitget ZBTUSDT	+0.0100%	4h	0.08400	−0.059%	$6.0M	$136K	10x	as long as short
BingX ZBT-USDT	+0.0100%	4h	0.08404	−0.012%	—	$1.3M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni ZBT	+0.0100%	4h	0.08395	−0.125%	$896	$453	—	as long as short
Extended ZBT-USD	+0.0104%	1h	0.08397	−0.091%	$4K	$112K	5x	as long as short
Gate ZBT_USDTshort	+0.0353%	8h	0.08404	−0.012%	$536K	$545K	50x