Funding arb · Price arb /

ZBT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0492%/8h= +53.9% APRpaid last 24h +0.208%

Price spread now: MEXC against Kraken Futures−0.096%51s7-day average — · you buy dearer than you sell

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

Long on Kraken Futures Short on MEXC

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

Funding pays, the price is against you. MEXC is 0.096% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.096% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$10 on $10k: about 16 hours of funding at the current rate (+$15 a day). The two prices were read 51 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	Kraken Futures PF_ZBTUSD	0.08571	−0.0392	get 0.0049% / 1h	26m 28s	$8K	$4K	10x
Short	MEXC ZBT_USDT	0.08563	0.0100	get 0.0050% / 4h	1h 26m	$1.8M	$376K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Kraken Futures. 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 Kraken FuturesbpFee MEXCbpOrdersPrice spread, now −0.096%Rate

Funding earned: $103.37
Price spread: −0.096% → 0.000%: −$9.55
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: $79.82
Costs to cover: 0.140%
Break-even: 1.6 days

Slippage unknown: Kraken Futures: no order-book sample; MEXC: live order book, 3 min ago. 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell MEXC live order book, 3 min ago	2.33 bp	10.4 bp −$10	63.2 bp −$632	265.0 bp −$26.5K	957.3 bp −$478.6K

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 exchanges

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_ZBTUSDlong	−0.0392%	1h	0.08571	long leg	$8K	$4K	10x
BloFin ZBT-USDT	+0.0058%	4h	0.08567	−0.049%	$150K	$41K	50x	as long as short
Aster ZBTUSDT	+0.0100%	4h	0.08569	−0.021%	$10K	$48K	5x	as long as short
Binance ZBTUSDT	+0.0100%	4h	0.08561	−0.119%	$3.5M	$5.5M	50x	as long as short
Bybit ZBTUSDT	+0.0100%	4h	0.08564	−0.084%	$952K	$1.2M	25x	as long as short
OKX ZBT-USDT-SWAP	+0.0100%	4h	0.08550	−0.247%	$643K	$2.3M	10x	as long as short
Gate ZBT_USDT	+0.0100%	8h	0.08576	+0.056%	$552K	$737K	50x	as long as short
MEXC ZBT_USDTshort	+0.0100%	4h	0.08563	−0.096%	$1.8M	$376K	100x
KuCoin ZBTUSDTM	+0.0100%	4h	0.08568	−0.037%	$720K	$9.4M	50x	as long as short
Bitget ZBTUSDT	+0.0100%	4h	0.08565	−0.072%	$6.2M	$360K	10x	as long as short

Show all 13 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ZBT-USDT	+0.0100%	4h	0.08559	−0.142%	—	$1.3M	—	as long as short
Variational Omni ZBT	+0.0100%	4h	0.08562	−0.102%	$954	$12K	—	as long as short
Extended ZBT-USD	+0.0104%	1h	0.08568	−0.033%	$2K	$206K	5x	as long as short