Funding arb · Price arb /

ZEREBRO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0380%/8h= +41.6% APRpaid last 24h +0.066%

Price spread now: Extended against Bybit+0.161%7-day average +0.144% · you sell dearer than you buy

Net, funding: paid 7d − costs−$361as in the Funding arb table

Net, price: spread back to 7d avg − costs−$372as in the Price arb table

costs, in and out, $10k−$3733.734% of the position

Long on Bybit Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.128%+$13 on $10k

Price spread, last 4 days (all we have)+0.034%+$3 · spread now +0.161%, 7d avg +0.144%

Together, before fees+0.161%+ Points / potential airdropExtended: Active · farm board+$16 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.144%, so right now this pair is about funding alone: +$11 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.128% in total (about 6.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ZEREBROUSDT	0.03396	0.0100	pay 0.0050% / 4h	1h 17m	$5.3M	$927K	13x
Short	Extended ZEREBRO-USD	0.03401	0.0480	get 0.0060% / 1h	17m 54s	$361	$219K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Bybit. 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 BybitbpFee ExtendedbpOrdersPrice spread, now +0.161%Rate

Funding earned: $79.8
Price spread: +0.161% → +0.144%: $1.73
Slippage, 4 orders: −$357.39
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$291.86
Costs to cover: 3.734%
Break-even: 32.6 days

Slippage from Bybit: live order book, 5 min ago; Extended: live order book, 24 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 Bybit live order book, 5 min ago	1.47 bp	56.4 bp −$56	387.1 bp −$3,871	doesn't fit	doesn't fit
Sell Extended live order book, 24 min ago	6.32 bp	135.3 bp −$135	doesn't fit	doesn't fit	doesn't fit

ZEREBRO on 11 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
Bybit ZEREBROUSDTlong	+0.0100%	4h	0.03396	long leg	$5.3M	$927K	13x
Gate ZEREBRO_USDT	+0.0100%	4h	0.03398	+0.071%	$455K	$24K	10x	as long as short
KuCoin ZEREBROUSDTM	+0.0100%	4h	0.03402	+0.188%	$1.4M	$2.9M	10x	as long as short
Variational Omni ZEREBRO	+0.0100%	4h	0.03398	+0.071%	$108K	$15K	—	as long as short
BingX ZEREBRO-USDT	+0.0454%	4h	0.03401	+0.147%	—	$1.3M	—	as long as short
BloFin ZEREBRO-USDT	+0.0474%	4h	0.03406	+0.309%	$272K	$12K	10x	as long as short
Binance ZEREBROUSDT	+0.0477%	4h	0.03402	+0.186%	$4.7M	$1.4M	10x	as long as short
MEXC ZEREBRO_USDT	+0.0478%	4h	0.03404	+0.230%	$7.1M	$126K	50x	as long as short
Extended ZEREBRO-USDshort	+0.0480%	1h	0.03401	+0.161%	$361	$219K	5x
Aster ZEREBROUSDT	+0.0491%	4h	0.03407	+0.325%	$382K	$19K	5x	as long as short

Show all 11 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_ZEREBROUSD	+0.0659%	1h	0.03397	+0.025%	$3K	$2K	10x	as long as short