Funding you earn now, next payment 12:00 UTC−0.0112%/8h= −12.3% APRpaid last 24h −0.027%
Price spread now: Bybit against Binance+0.008%7-day average +0.038% · you sell dearer than you buy
Net, funding: paid 7d − costs−$204as in the Funding arb table
Net, price: spread back to 7d avg − costs−$177as in the Price arb table
costs, in and out, $10k−$1741.745% of the position
Funding, last 7 days−0.293%−$29 on $10k
+Price spread, last 7 days+0.081%+$8 · spread now +0.008%, 7d avg +0.038%
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Bybit is 0.029% cheaper against Binance than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.038%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance ZRXUSDT | 0.1166 | 0.0100 | pay 0.0050% / 4h | 47m 43s | $1.7M | $1.4M | 50x |
| Short | Bybit ZRXUSDT | 0.1166 | −0.0012 | pay 0.0012% / 8h | 4h 47m | $1.4M | $353K | 25x |
Binance ZRXUSDT
Bybit ZRXUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Binance. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$23.54
- Price spread: +0.008% → +0.038%
- −$2.92
- Slippage, 4 orders
- −$153.49
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$200.95
- Costs to cover
- 1.745%
- Break-even
- never at this rate
Slippage from Binance: live order book, 9 min ago; Bybit: live order book, 1 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 Binance live order book, 9 min ago | 4.29 bp | 25.0 bp −$25 | 225.2 bp −$2,252 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 1 min ago | 9.47 bp | 61.1 bp −$61 | 329.6 bp −$3,296 | doesn't fit | doesn't fit |
ZRX on 11 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 | |
|---|---|---|---|---|---|---|---|---|
| Gate ZRX_USDT | −0.0146% | 8h | 0.1161 | −0.403% | $138K | $36K | 75x | as long as short |
| Bybit ZRXUSDTshort | −0.0012% | 8h | 0.1166 | +0.008% | $1.4M | $353K | 25x | |
| BloFin ZRX-USDT | +0.0072% | 4h | 0.1162 | −0.309% | $90K | $23K | 50x | as long as short |
| Binance ZRXUSDTlong | +0.0100% | 4h | 0.1166 | long leg | $1.7M | $1.4M | 50x | |
| OKX ZRX-USDT-SWAP | +0.0100% | 4h | 0.1165 | −0.052% | $511K | $352K | 20x | as long as short |
| MEXC ZRX_USDT | +0.0100% | 4h | 0.1166 | +0.034% | $863K | $127K | 50x | as long as short |
| KuCoin ZRXUSDTM | +0.0100% | 4h | 0.1165 | −0.052% | $283K | $60K | 30x | as long as short |
| Bitget ZRXUSDT | +0.0100% | 4h | 0.1165 | −0.052% | $569K | $138K | 50x | as long as short |
| BingX ZRX-USDT | +0.0100% | 4h | 0.1165 | −0.052% | — | $2.3M | — | as long as short |
| Variational Omni ZRX | +0.0100% | 8h | 0.1164 | −0.160% | $22K | $13K | — | as long as short |
Gate ZRX_USDT
BloFin ZRX-USDT
OKX ZRX-USDT-SWAP
MEXC ZRX_USDT
KuCoin ZRXUSDTM
Bitget ZRXUSDT
BingX ZRX-USDT
Variational Omni ZRXShow all 11 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_ZRXUSD | +0.0871% | 1h | 0.1170 | +0.396% | $37K | $6K | 10x | as long as short |
Kraken Futures PF_ZRXUSD