Funding arb · Price arb /

ZBT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0370%/8h= −40.5% APRpaid last 24h 0.000%

Price spread now: MEXC against Gate+0.048%7-day average −0.063% · you sell dearer than you buy

Net, funding: paid 7d − costs−$118as in the Funding arb table

Net, price: spread back to 7d avg − costs−$105as in the Price arb table

costs, in and out, $10k−$1161.164% of the position

Long on Gate Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.016%−$2 on $10k

Price spread, last 4 days (all we have)−0.101%−$10 · spread now +0.048%, 7d avg −0.063%

Together, before fees−0.117%−$12 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.110% dearer against Gate than usual: you sell high and buy low (spread +0.048% now, against its 7-day average of −0.063%): +$11 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 24 hours. At the pace of the last 7 days (−0.016% in total) that is about 48 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.016% in total (about -0.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ZBT_USDT	0.08396	0.0470	pay 0.0470% / 8h	7h 27m	$545K	$556K	50x
Short	MEXC ZBT_USDT	0.08400	0.0100	get 0.0050% / 4h	3h 27m	$1.4M	$199K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Gate. 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 GatebpFee MEXCbpOrdersPrice spread, now +0.048%Rate

Funding earned: −$77.7
Price spread: +0.048% → −0.063%: $11.01
Slippage, 4 orders: −$97.36
Fee Gate: 7.5 bp × 2 orders: −$15
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$183.05
Costs to cover: 1.164%
Break-even: never at this rate

Slippage from Gate: live order book, 43 min ago; MEXC: live order book, 3 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 Gate live order book, 43 min ago	5.97 bp	58.1 bp −$58	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	0.60 bp	11.1 bp −$11	67.4 bp −$674	245.8 bp −$24.6K	650.8 bp −$325.4K

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	−0.0705%	1h	0.08395	−0.015%	$7K	$6K	10x	as long as short
Aster ZBTUSDT	+0.0100%	4h	0.08389	−0.089%	$10K	$15K	5x	as long as short
Binance ZBTUSDT	+0.0100%	4h	0.08401	+0.060%	$3.2M	$2.6M	50x	as long as short
Bybit ZBTUSDT	+0.0100%	4h	0.08401	+0.060%	$873K	$435K	25x	as long as short
OKX ZBT-USDT-SWAP	+0.0100%	4h	0.08398	+0.024%	$554K	$1.4M	10x	as long as short
MEXC ZBT_USDTshort	+0.0100%	4h	0.08400	+0.048%	$1.4M	$199K	100x
KuCoin ZBTUSDTM	+0.0100%	4h	0.08396	0.000%	$741K	$9.8M	50x	as long as short
Bitget ZBTUSDT	+0.0100%	4h	0.08395	−0.012%	$6.0M	$139K	10x	as long as short
BingX ZBT-USDT	+0.0100%	4h	0.08400	+0.048%	—	$1.3M	—	as long as short
Variational Omni ZBT	+0.0100%	4h	0.08384	−0.141%	$894	$453	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended ZBT-USD	+0.0104%	1h	0.08398	+0.029%	$2K	$158K	5x	as long as short
BloFin ZBT-USDT	+0.0130%	4h	0.08402	+0.071%	$147K	$12K	50x	as long as short
Gate ZBT_USDTlong	+0.0470%	8h	0.08396	long leg	$545K	$556K	50x