Funding arb · Price arb /

ZBT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.1369%/8h= −149.9% APRpaid last 24h −0.187%

Price spread now: Kraken Futures against Bybit−0.196%7-day average — · you buy dearer than you sell

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

Long on Bybit 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 −$41 a day on $10k at the current rate, and Kraken Futures is 0.196% cheaper against Bybit than usual: you would sell low and buy high (−$20 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ZBTUSDT	0.08656	0.0100	pay 0.0050% / 4h	1h 41m	$933K	$953K	25x
Short	Kraken Futures PF_ZBTUSD	0.08639	−0.1269	pay 0.0159% / 1h	41m 40s	$7K	$1K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bybit. 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 BybitbpFee Kraken FuturesbpOrdersPrice spread, now −0.196%Rate

Funding earned: −$287.5
Price spread: −0.196% → 0.000%: −$19.6
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$328.11
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 64 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 Bybit live order book, 64 min ago	1.74 bp	41.8 bp −$42	758.0 bp −$7,580	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	−0.1269%	1h	0.08639	−0.196%	$7K	$1K	10x
BloFin ZBT-USDT	+0.0086%	4h	0.08630	−0.300%	$155K	$41K	50x	as long as short
Aster ZBTUSDT	+0.0100%	4h	0.08655	−0.010%	$10K	$42K	5x	as long as short
Binance ZBTUSDT	+0.0100%	4h	0.08656	+0.004%	$3.5M	$5.0M	50x	as long as short
Bybit ZBTUSDTlong	+0.0100%	4h	0.08656	long leg	$933K	$953K	25x
OKX ZBT-USDT-SWAP	+0.0100%	4h	0.08636	−0.231%	$629K	$2.2M	10x	as long as short
Gate ZBT_USDT	+0.0100%	8h	0.08655	−0.012%	$548K	$674K	50x	as long as short
MEXC ZBT_USDT	+0.0100%	4h	0.08655	−0.012%	$1.5M	$286K	100x	as long as short
KuCoin ZBTUSDTM	+0.0100%	4h	0.08646	−0.116%	$668K	$9.4M	50x	as long as short
Bitget ZBTUSDT	+0.0100%	4h	0.08654	−0.023%	$6.2M	$313K	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	0.08649	−0.081%	—	$1.3M	—	as long as short
Variational Omni ZBT	+0.0100%	4h	0.08608	−0.549%	$1K	$13K	—	as long as short
Extended ZBT-USD	+0.0104%	1h	0.08654	−0.021%	$6K	$196K	5x	as long as short