Funding arb · Price arb /

ZBT

all ZBT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0045%/8h= −4.9% APRpaid last 24h −0.001%

Price spread now: Extended against BloFin+0.028%7-day average −0.041% · you sell dearer than you buy

Net, funding: paid 7d − costs−$108as in the Funding arb table

Net, price: spread back to 7d avg − costs−$100as in the Price arb table

costs, in and out, $10k−$1071.073% of the position

Long on BloFin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.012%−$1 on $10k

Price spread, last 4 days (all we have)−0.075%−$7 · spread now +0.028%, 7d avg −0.041%

Together, before fees−0.086%+ Points / potential airdropExtended: Active · farm board−$9 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Extended is 0.070% dearer against BloFin than usual: you sell high and buy low (spread +0.028% now, against its 7-day average of −0.041%): +$7 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 5.2 days. At the pace of the last 7 days (−0.012% in total) that is about 42 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ZBT-USDT	0.08662	0.0149	pay 0.0074% / 4h	2h 49m	$161K	$23K	50x
Short	Extended ZBT-USD	0.08664	0.0104	get 0.0013% / 1h	49m 09s	$3K	$194K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against BloFin. 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 BloFinbpFee ExtendedbpOrdersPrice spread, now +0.028%Rate

Funding earned: −$9.43
Price spread: +0.028% → −0.041%: $6.97
Slippage, 4 orders: −$90.33
Fee BloFin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$109.8
Costs to cover: 1.073%
Break-even: never at this rate

Slippage from BloFin: live order book, 30 min ago; Extended: live order book, 61 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 BloFin live order book, 30 min ago	4.16 bp	23.2 bp −$23	55.3 bp −$553	doesn't fit	doesn't fit
Sell Extended live order book, 61 min ago	2.73 bp	38.4 bp −$38	297.3 bp −$2,973	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	−0.0701%	1h	0.08671	+0.108%	$7K	$1K	10x	as long as short
Aster ZBTUSDT	+0.0100%	4h	0.08674	+0.138%	$13K	$35K	5x	as long as short
Binance ZBTUSDT	+0.0100%	4h	0.08666	+0.046%	$3.6M	$4.1M	50x	as long as short
Bybit ZBTUSDT	+0.0100%	4h	0.08665	+0.035%	$932K	$787K	25x	as long as short
OKX ZBT-USDT-SWAP	+0.0100%	4h	0.08654	−0.092%	$594K	$1.9M	10x	as long as short
MEXC ZBT_USDT	+0.0100%	4h	0.08668	+0.069%	$1.5M	$243K	100x	as long as short
KuCoin ZBTUSDTM	+0.0100%	4h	0.08664	+0.023%	$692K	$9.4M	50x	as long as short
Bitget ZBTUSDT	+0.0100%	4h	0.08664	+0.023%	$6.2M	$237K	10x	as long as short
BingX ZBT-USDT	+0.0100%	4h	0.08665	+0.035%	—	$1.3M	—	as long as short
Variational Omni ZBT	+0.0100%	4h	0.08679	+0.202%	$7K	$6K	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended ZBT-USDshort	+0.0104%	1h	0.08664	+0.028%	$3K	$194K	5x
BloFin ZBT-USDTlong	+0.0149%	4h	0.08662	long leg	$161K	$23K	50x
Gate ZBT_USDT	+0.0177%	8h	0.08668	+0.069%	$550K	$618K	50x	as long as short