Funding arb · Price arb /

ZBT

all ZBT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0073%/8h= −8.0% APRpaid last 24h 0.000%

Price spread now: BingX against Gate−0.107%7-day average −0.015% · 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−$141as in the Price arb table

costs, in and out, $10k−$1321.315% of the position

Long on Gate Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.218%+$22 on $10k

Price spread, last 4 days (all we have)+0.113%+$11 · spread now −0.107%, 7d avg −0.015%

Together, before fees+0.331%+$33 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and BingX is 0.092% cheaper against Gate than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.015%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.218%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ZBT_USDT	0.08383	0.0173	pay 0.0173% / 8h	6h 48m	$542K	$544K	50x
Short	BingX ZBT-USDT	0.08374	0.0100	get 0.0050% / 4h	2h 48m	—	$1.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Gate. 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 GatebpFee BingXbpOrdersPrice spread, now −0.107%Rate

Funding earned: −$15.33
Price spread: −0.107% → −0.015%: −$9.23
Slippage, 4 orders: −$106.5
Fee Gate: 7.5 bp × 2 orders: −$15
Fee BingX: 5 bp × 2 orders: −$10
Net: −$156.06
Costs to cover: 1.315%
Break-even: never at this rate

Slippage from Gate: live order book, 18 min ago; BingX: live order book, 12 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 Gate live order book, 18 min ago	5.95 bp	48.1 bp −$48	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 12 min ago	3.00 bp	22.6 bp −$23	70.4 bp −$704	429.5 bp −$43.0K	1019.8 bp −$509.9K

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	−0.0475%	1h	0.08369	−0.166%	$7K	$6K	10x	as long as short
BloFin ZBT-USDT	+0.0072%	4h	0.08374	−0.107%	$147K	$20K	50x	as long as short
Aster ZBTUSDT	+0.0100%	4h	0.08387	+0.050%	$10K	$15K	5x	as long as short
Binance ZBTUSDT	+0.0100%	4h	0.08381	−0.027%	$3.2M	$2.6M	50x	as long as short
Bybit ZBTUSDT	+0.0100%	4h	0.08378	−0.060%	$858K	$445K	25x	as long as short
OKX ZBT-USDT-SWAP	+0.0100%	4h	0.08375	−0.095%	$557K	$1.4M	10x	as long as short
MEXC ZBT_USDT	+0.0100%	4h	0.08381	−0.024%	$1.4M	$198K	100x	as long as short
KuCoin ZBTUSDTM	+0.0100%	4h	0.08379	−0.048%	$731K	$9.8M	50x	as long as short
Bitget ZBTUSDT	+0.0100%	4h	0.08378	−0.060%	$6.0M	$140K	10x	as long as short
BingX ZBT-USDTshort	+0.0100%	4h	0.08374	−0.107%	—	$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	0.08370	−0.153%	$893	$453	—	as long as short
Extended ZBT-USD	+0.0104%	1h	0.08377	−0.069%	$4K	$124K	5x	as long as short
Gate ZBT_USDTlong	+0.0173%	8h	0.08383	long leg	$542K	$544K	50x