Funding arb · Price arb /

ZBT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0754%/8h= −82.5% APRpaid last 24h −0.203%

Price spread now: Kraken Futures against BloFin−0.223%57s7-day average — · you buy dearer than you sell

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

Long on BloFin 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

Both sides work against this trade now: funding costs −$23 a day on $10k at the current rate, and Kraken Futures is 0.223% cheaper against BloFin than usual: you would sell low and buy high (−$22 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ZBT-USDT	0.08571	0.0098	pay 0.0049% / 4h	3h 36m	$151K	$42K	50x
Short	Kraken Futures PF_ZBTUSD	0.08552	−0.0655	pay 0.0082% / 1h	36m 15s	$8K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.223%Rate

Funding earned: −$158.24
Price spread: −0.223% → 0.000%: −$22.3
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$202.54
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 28 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 BloFin live order book, 28 min ago	2.31 bp	17.6 bp −$18	73.4 bp −$734	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.

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_ZBTUSDshort	−0.0655%	1h	0.08552	−0.223%	$8K	$3K	10x
KuCoin ZBTUSDTM	−0.0022%	4h	0.08559	−0.140%	$629K	$9.5M	50x	as long as short
OKX ZBT-USDT-SWAP	−0.0001%	4h	0.08556	−0.175%	$631K	$2.3M	10x	as long as short
BloFin ZBT-USDTlong	+0.0098%	4h	0.08571	long leg	$151K	$42K	50x
Aster ZBTUSDT	+0.0100%	4h	0.08556	−0.180%	$9K	$48K	5x	as long as short
Binance ZBTUSDT	+0.0100%	4h	0.08556	−0.179%	$3.5M	$5.4M	50x	as long as short
Bybit ZBTUSDT	+0.0100%	4h	0.08556	−0.175%	$937K	$1.1M	25x	as long as short
Gate ZBT_USDT	+0.0100%	8h	0.08563	−0.093%	$558K	$738K	50x	as long as short
MEXC ZBT_USDT	+0.0100%	4h	0.08554	−0.198%	$1.7M	$343K	100x	as long as short
Bitget ZBTUSDT	+0.0100%	4h	0.08560	−0.128%	$6.2M	$339K	10x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ZBT-USDT	+0.0100%	4h	0.08558	−0.152%	—	$1.3M	—	as long as short
Variational Omni ZBT	+0.0100%	4h	0.08587	+0.182%	$1K	$13K	—	as long as short
Extended ZBT-USD	+0.0104%	1h	0.08553	−0.207%	$3K	$200K	5x	as long as short