Funding arb · Price arb /

ZBT

all ZBT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0056%/8h= +6.1% APRpaid last 24h +0.002%

Price spread now: BloFin against Gate−0.104%63s7-day average −0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$140as 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−$1401.404% of the position

Long on Gate Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.004%$0 on $10k

Price spread, last 4 days (all we have)+0.036%+$4 · spread now −0.104%, 7d avg −0.039%

Together, before fees+0.039%+$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.065% cheaper against Gate than usual: you would sell low and buy high (spread −0.104% now, against its 7-day average of −0.039%). If the spread goes back, that is −$7 on $10k: about 3.9 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.004% in total) that is about 4 months. The two prices were read 63 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	Gate ZBT_USDT	0.08652	0.0100	pay 0.0100% / 8h	16m 14s	$562K	$728K	50x
Short	BloFin ZBT-USDT	0.08643	0.0156	get 0.0078% / 4h	16m 14s	$153K	$42K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.104%Rate

Funding earned: $11.79
Price spread: −0.104% → −0.039%: −$6.55
Slippage, 4 orders: −$113.35
Fee Gate: 7.5 bp × 2 orders: −$15
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$135.12
Costs to cover: 1.404%
Break-even: 87.2 days

Slippage from Gate: live order book, 20 min ago; BloFin: live order book, 53 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, 20 min ago	4.61 bp	54.7 bp −$55	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 53 min ago	1.73 bp	17.2 bp −$17	50.9 bp −$509	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	−0.1244%	1h	0.08650	−0.023%	$8K	$3K	10x	as long as short
KuCoin ZBTUSDTM	−0.0006%	4h	0.08648	−0.046%	$637K	$9.4M	50x	as long as short
OKX ZBT-USDT-SWAP	+0.0010%	4h	0.08639	−0.150%	$625K	$2.3M	10x	as long as short
Aster ZBTUSDT	+0.0100%	4h	0.08652	+0.004%	$11K	$46K	5x	as long as short
Binance ZBTUSDT	+0.0100%	4h	0.08651	−0.015%	$3.6M	$5.3M	50x	as long as short
Bybit ZBTUSDT	+0.0100%	4h	0.08651	−0.012%	$938K	$1.1M	25x	as long as short
Gate ZBT_USDTlong	+0.0100%	8h	0.08652	long leg	$562K	$728K	50x
MEXC ZBT_USDT	+0.0100%	4h	0.08650	−0.023%	$1.7M	$329K	100x	as long as short
Bitget ZBTUSDT	+0.0100%	4h	0.08650	−0.023%	$6.2M	$326K	10x	as long as short
BingX ZBT-USDT	+0.0100%	4h	0.08646	−0.069%	—	$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	0.08645	−0.081%	$1K	$13K	—	as long as short
Extended ZBT-USD	+0.0104%	1h	0.08651	−0.017%	$3K	$199K	5x	as long as short
BloFin ZBT-USDTshort	+0.0156%	4h	0.08643	−0.104%	$153K	$42K	50x