Funding arb · Price arb /

ZBT

all ZBT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0019%/8h= +2.1% APRpaid last 24h +0.001%

Price spread now: BloFin against Extended−0.122%54s7-day average +0.041% · you buy dearer than you sell

Net, funding: paid 7d − costs−$110as 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−$1111.108% of the position

Long on Extended Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.012%+$1 on $10k

Price spread, last 4 days (all we have)+0.169%+$17 · spread now −0.122%, 7d avg +0.041%

Together, before fees+0.180%+ Points / potential airdropExtended: Active · farm board+$18 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.164% cheaper against Extended than usual: you would sell low and buy high (spread −0.122% now, against its 7-day average of +0.041%). If the spread goes back, that is −$16 on $10k: about 28 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.012% in total) that is about 3 months. The two prices were read 54 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	Extended ZBT-USD	0.08539	0.0104	pay 0.0013% / 1h	6m 23s	$1K	$193K	5x
Short	BloFin ZBT-USDT	0.08529	0.0123	get 0.0062% / 4h	2h 06m	$153K	$30K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Extended. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BloFinbpOrdersPrice spread, now −0.122%Rate

Funding earned: $4.05
Price spread: −0.122% → +0.041%: −$16.36
Slippage, 4 orders: −$93.81
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$123.13
Costs to cover: 1.108%
Break-even: 219.9 days

Slippage from Extended: live order book, 40 min ago; BloFin: live order book, 8 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, 40 min ago	3.01 bp	25.0 bp −$25	297.4 bp −$2,974	doesn't fit	doesn't fit
Sell BloFin live order book, 8 min ago	0.59 bp	19.5 bp −$20	53.6 bp −$536	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	−0.0712%	1h	0.08541	+0.016%	$7K	$1K	10x	as long as short
Aster ZBTUSDT	+0.0100%	4h	0.08549	+0.107%	$10K	$43K	5x	as long as short
Binance ZBTUSDT	+0.0100%	4h	0.08546	+0.077%	$3.5M	$4.8M	50x	as long as short
Bybit ZBTUSDT	+0.0100%	4h	0.08546	+0.077%	$916K	$936K	25x	as long as short
OKX ZBT-USDT-SWAP	+0.0100%	4h	0.08535	−0.052%	$620K	$2.1M	10x	as long as short
Gate ZBT_USDT	+0.0100%	8h	0.08547	+0.089%	$534K	$673K	50x	as long as short
MEXC ZBT_USDT	+0.0100%	4h	0.08547	+0.089%	$1.5M	$287K	100x	as long as short
KuCoin ZBTUSDTM	+0.0100%	4h	0.08544	+0.054%	$678K	$9.4M	50x	as long as short
Bitget ZBTUSDT	+0.0100%	4h	0.08545	+0.065%	$6.2M	$296K	10x	as long as short
BingX ZBT-USDT	+0.0100%	4h	0.08542	+0.030%	—	$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	0.08522	−0.210%	$1K	$13K	—	as long as short
Extended ZBT-USDlong	+0.0104%	1h	0.08539	long leg	$1K	$193K	5x
BloFin ZBT-USDTshort	+0.0123%	4h	0.08529	−0.122%	$153K	$30K	50x