Funding arb · Price arb /

ZBT

all ZBT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0042%/8h= +4.6% APRpaid last 24h +0.001%

Price spread now: Gate against BloFin−0.035%63s7-day average +0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$141as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1411.410% of the position

Long on BloFin Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.050%−$5 · spread now −0.035%, 7d avg +0.039%

Together, before fees−0.051%−$5 on $10k · with fees, hour by hour

Funding pays, the price is against you. Gate is 0.075% cheaper against BloFin than usual: you would sell low and buy high (spread −0.035% now, against its 7-day average of +0.039%). If the spread goes back, that is −$7 on $10k: about 6.0 days of funding at the current rate (+$1 a day). The two prices were read 63 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	BloFin ZBT-USDT	0.08561	0.0058	pay 0.0029% / 4h	3h 26m	$150K	$42K	50x
Short	Gate ZBT_USDT	0.08558	0.0100	get 0.0100% / 8h	7h 26m	$558K	$745K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.035%Rate

Funding earned: $8.73
Price spread: −0.035% → +0.039%: −$7.45
Slippage, 4 orders: −$114.05
Fee BloFin: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$139.77
Costs to cover: 1.410%
Break-even: 119.1 days

Slippage from BloFin: live order book, 38 min ago; Gate: live order book, 5 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, 38 min ago	2.31 bp	17.6 bp −$18	73.4 bp −$734	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	7.03 bp	47.0 bp −$47	doesn't fit	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	−0.0655%	1h	0.08550	−0.125%	$8K	$3K	10x	as long as short
KuCoin ZBTUSDTM	+0.0028%	4h	0.08552	−0.105%	$646K	$9.5M	50x	as long as short
OKX ZBT-USDT-SWAP	+0.0039%	4h	0.08550	−0.128%	$623K	$2.3M	10x	as long as short
BloFin ZBT-USDTlong	+0.0058%	4h	0.08561	long leg	$150K	$42K	50x
Aster ZBTUSDT	+0.0100%	4h	0.08547	−0.158%	$9K	$48K	5x	as long as short
Binance ZBTUSDT	+0.0100%	4h	0.08555	−0.075%	$3.5M	$5.5M	50x	as long as short
Bybit ZBTUSDT	+0.0100%	4h	0.08557	−0.047%	$932K	$1.1M	25x	as long as short
Gate ZBT_USDTshort	+0.0100%	8h	0.08558	−0.035%	$558K	$745K	50x
MEXC ZBT_USDT	+0.0100%	4h	0.08553	−0.093%	$1.7M	$353K	100x	as long as short
Bitget ZBTUSDT	+0.0100%	4h	0.08550	−0.128%	$6.2M	$341K	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-USDT	+0.0100%	4h	0.08553	−0.093%	—	$1.3M	—	as long as short
Variational Omni ZBT	+0.0100%	4h	0.08536	−0.297%	$1K	$12K	—	as long as short
Extended ZBT-USD	+0.0104%	1h	0.08552	−0.106%	$3K	$200K	5x	as long as short