Funding arb · Price arb /

ZBT

all ZBT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0055%/8h= +6.1% APRpaid last 24h −0.002%

Price spread now: BloFin against Extended−0.002%94s7-day average +0.047% · you buy dearer than you sell

Net, funding: paid 7d − costs−$111as 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−$1121.119% of the position

Long on Extended Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.008%+$1 on $10k

Price spread, last 4 days (all we have)+0.076%+$8 · spread now −0.002%, 7d avg +0.047%

Together, before fees+0.084%+ Points / potential airdropExtended: Active · farm board+$8 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.048% cheaper against Extended than usual: you would sell low and buy high (spread −0.002% now, against its 7-day average of +0.047%). If the spread goes back, that is −$5 on $10k: about 2.9 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.008% in total) that is about 42 days. The two prices were read 94 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	Extended ZBT-USD	0.08582	0.0104	pay 0.0013% / 1h	49m 20s	$4K	$206K	5x
Short	BloFin ZBT-USDT	0.08582	0.0159	get 0.0080% / 4h	1h 49m	$150K	$41K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Extended. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 ExtendedbpFee BloFinbpOrdersPrice spread, now −0.002%Rate

Funding earned: $11.61
Price spread: −0.002% → +0.047%: −$4.83
Slippage, 4 orders: −$94.91
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$105.13
Costs to cover: 1.119%
Break-even: 70.4 days

Slippage from Extended: live order book, 59 min ago; BloFin: live order book, 54 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 Extended live order book, 59 min ago	2.10 bp	34.6 bp −$35	308.3 bp −$3,083	doesn't fit	doesn't fit
Sell BloFin live order book, 54 min ago	0.58 bp	18.9 bp −$19	52.1 bp −$521	doesn't fit	doesn't fit

ZBT on 13 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
Kraken Futures PF_ZBTUSD	−0.0391%	1h	0.08589	+0.082%	$8K	$3K	10x	as long as short
Aster ZBTUSDT	+0.0100%	4h	0.08595	+0.152%	$10K	$48K	5x	as long as short
Binance ZBTUSDT	+0.0100%	4h	0.08598	+0.190%	$3.5M	$5.5M	50x	as long as short
Bybit ZBTUSDT	+0.0100%	4h	0.08602	+0.231%	$967K	$1.1M	25x	as long as short
OKX ZBT-USDT-SWAP	+0.0100%	4h	0.08583	+0.010%	$643K	$2.3M	10x	as long as short
Gate ZBT_USDT	+0.0100%	8h	0.08594	+0.138%	$554K	$727K	50x	as long as short
MEXC ZBT_USDT	+0.0100%	4h	0.08591	+0.103%	$1.7M	$354K	100x	as long as short
KuCoin ZBTUSDTM	+0.0100%	4h	0.08596	+0.161%	$684K	$9.4M	50x	as long as short
Bitget ZBTUSDT	+0.0100%	4h	0.08594	+0.138%	$6.2M	$358K	10x	as long as short
BingX ZBT-USDT	+0.0100%	4h	0.08597	+0.173%	—	$1.3M	—	as long as short

Show all 13 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni ZBT	+0.0100%	4h	0.08589	+0.083%	$956	$12K	—	as long as short
Extended ZBT-USDlong	+0.0104%	1h	0.08582	long leg	$4K	$206K	5x
BloFin ZBT-USDTshort	+0.0159%	4h	0.08582	−0.002%	$150K	$41K	50x