Funding arb · Price arb /

ZBT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: BingX against Extended+0.032%7-day average +0.069% · you sell dearer than you buy

Net, funding: paid 7d − costs−$106as in the Funding arb table

Net, price: spread back to 7d avg − costs−$132as in the Price arb table

costs, in and out, $10k−$1281.283% of the position

Long on Extended Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.225%+$23 on $10k

Price spread, last 4 days (all we have)+0.003%$0 · spread now +0.032%, 7d avg +0.069%

Together, before fees+0.228%+ Points / potential airdropExtended: Active · farm board+$23 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BingX is 0.037% cheaper against Extended than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.069%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ZBT-USD	0.08325	0.0104	pay 0.0013% / 1h	7m 01s	$2K	$159K	5x
Short	BingX ZBT-USDT	0.08328	0.0100	get 0.0050% / 4h	1h 07m	—	$1.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Extended. 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 ExtendedbpFee BingXbpOrdersPrice spread, now +0.032%Rate

Funding earned: −$0.84
Price spread: +0.032% → +0.069%: −$3.71
Slippage, 4 orders: −$113.27
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BingX: 5 bp × 2 orders: −$10
Net: −$132.81
Costs to cover: 1.283%
Break-even: never at this rate

Slippage from Extended: live order book, 9 min ago; BingX: 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 Extended live order book, 9 min ago	2.28 bp	24.8 bp −$25	257.3 bp −$2,573	doesn't fit	doesn't fit
Sell BingX live order book, 4 min ago	3.61 bp	21.4 bp −$21	72.4 bp −$724	452.0 bp −$45.2K	1049.7 bp −$524.8K

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	−0.0911%	1h	0.08326	+0.007%	$7K	$6K	10x	as long as short
Aster ZBTUSDT	+0.0100%	4h	0.08320	−0.061%	$11K	$16K	5x	as long as short
Binance ZBTUSDT	+0.0100%	4h	0.08328	+0.032%	$3.2M	$2.6M	50x	as long as short
Bybit ZBTUSDT	+0.0100%	4h	0.08323	−0.028%	$866K	$424K	25x	as long as short
OKX ZBT-USDT-SWAP	+0.0100%	4h	0.08327	+0.020%	$580K	$1.3M	10x	as long as short
Gate ZBT_USDT	+0.0100%	8h	0.08325	−0.004%	$536K	$540K	50x	as long as short
MEXC ZBT_USDT	+0.0100%	4h	0.08327	+0.020%	$1.4M	$205K	100x	as long as short
KuCoin ZBTUSDTM	+0.0100%	4h	0.08325	−0.004%	$707K	$9.8M	50x	as long as short
Bitget ZBTUSDT	+0.0100%	4h	0.08320	−0.064%	$6.0M	$134K	10x	as long as short
BingX ZBT-USDTshort	+0.0100%	4h	0.08328	+0.032%	—	$1.3M	—

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni ZBT	+0.0100%	4h	0.08322	−0.036%	$888	$453	—	as long as short
Extended ZBT-USDlong	+0.0104%	1h	0.08325	long leg	$2K	$159K	5x
BloFin ZBT-USDT	+0.0147%	4h	0.08328	+0.032%	$148K	$12K	50x	as long as short