Funding arb · Price arb /

ZBT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.1014%/8h= −111.1% APRpaid last 24h −0.214%

Price spread now: Kraken Futures against BingX−0.083%53s7-day average — · you buy dearer than you sell

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

Long on BingX Short on Kraken Futures

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

Both sides work against this trade now: funding costs −$30 a day on $10k at the current rate, and Kraken Futures is 0.083% cheaper against BingX than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 53 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	BingX ZBT-USDT	0.08307	0.0100	pay 0.0050% / 4h	1h 48m	—	$1.3M	—
Short	Kraken Futures PF_ZBTUSD	0.08300	−0.0914	pay 0.0114% / 1h	48m 28s	$7K	$6K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BingX. 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 BingXbpFee Kraken FuturesbpOrdersPrice spread, now −0.083%Rate

Funding earned: −$212.98
Price spread: −0.083% → 0.000%: −$8.26
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$241.25
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 11 min ago; Kraken Futures: no order-book sample. 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 BingX live order book, 11 min ago	4.21 bp	25.2 bp −$25	82.9 bp −$829	537.2 bp −$53.7K	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

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 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_ZBTUSDshort	−0.0914%	1h	0.08300	−0.083%	$7K	$6K	10x
BloFin ZBT-USDT	+0.0044%	4h	0.08312	+0.060%	$146K	$12K	50x	as long as short
Aster ZBTUSDT	+0.0100%	4h	0.08298	−0.111%	$11K	$15K	5x	as long as short
Binance ZBTUSDT	+0.0100%	4h	0.08308	+0.015%	$3.1M	$2.5M	50x	as long as short
Bybit ZBTUSDT	+0.0100%	4h	0.08302	−0.060%	$863K	$422K	25x	as long as short
OKX ZBT-USDT-SWAP	+0.0100%	4h	0.08300	−0.084%	$582K	$1.3M	10x	as long as short
Gate ZBT_USDT	+0.0100%	8h	0.08304	−0.036%	$535K	$531K	50x	as long as short
MEXC ZBT_USDT	+0.0100%	4h	0.08308	+0.012%	$1.4M	$201K	100x	as long as short
KuCoin ZBTUSDTM	+0.0100%	4h	0.08304	−0.036%	$714K	$9.8M	50x	as long as short
Bitget ZBTUSDT	+0.0100%	4h	0.08303	−0.048%	$6.0M	$136K	10x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ZBT-USDTlong	+0.0100%	4h	0.08307	long leg	—	$1.3M	—
Variational Omni ZBT	+0.0100%	4h	0.08307	+0.004%	$887	$453	—	as long as short
Extended ZBT-USD	+0.0104%	1h	0.08301	−0.070%	$2K	$159K	5x	as long as short