ZEREBRO

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0237%/8h= −26.0% APRnext payment −$1.19 per $10,000 · paid last 24h −0.065%

Price spread now: Bybit against BloFin−0.344%7-day average −0.172% · you buy dearer than you sell

Net, funding: paid 7d − costs−$184as in the Funding arb table

Net, price: spread back to 7d avg − costs−$187as in the Price arb table

costs, in and out, $10k−$1701.699% of the position

Long on BloFin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.143%−$14 on $10k

Price spread, last 4 days (all we have)+0.528%+$53 · spread now −0.344%, 7d avg −0.172%

Together, before fees+0.385%+$38 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Bybit is 0.171% cheaper against BloFin than usual: you would sell low and buy high (−$17 if the spread goes back to its 7-day average of −0.172%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.143% in total (about -7.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.19 per $10,000. 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	BloFin ZEREBRO-USDT	0.03403	0.0337	pay 0.0169% / 4h	2h 02m	$270K	$12K	10x
Short	Bybit ZEREBROUSDT	0.03392	0.0100	get 0.0050% / 4h	2h 02m	$5.3M	$923K	13x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against BloFin. 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 BloFinbpFee BybitbpOrdersPrice spread, now −0.344%Rate

Funding earned: −$49.77
Price spread: −0.344% → −0.172%: −$17.15
Slippage, 4 orders: −$146.92
Fee BloFin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$236.85
Costs to cover: 1.699%
Break-even: never at this rate

Slippage from BloFin: live order book, 14 min ago; Bybit: 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, 14 min ago	1.47 bp	35.3 bp −$35	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	2.94 bp	59.6 bp −$60	222.8 bp −$2,228	doesn't fit	doesn't fit

ZEREBRO on 11 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
Bybit ZEREBROUSDTshort	+0.0100%	4h	0.03392	−0.344%	$5.3M	$923K	13x
Gate ZEREBRO_USDT	+0.0100%	4h	0.03395	−0.232%	$455K	$25K	10x	as long as short
KuCoin ZEREBROUSDTM	+0.0100%	4h	0.03399	−0.120%	$1.4M	$2.9M	10x	as long as short
Variational Omni ZEREBRO	+0.0100%	4h	0.03398	−0.144%	$108K	$15K	—	as long as short
BloFin ZEREBRO-USDTlong	+0.0337%	4h	0.03403	long leg	$270K	$12K	10x
Extended ZEREBRO-USD	+0.0384%	1h	0.03398	−0.146%	$2K	$220K	5x	as long as short
MEXC ZEREBRO_USDT	+0.0386%	4h	0.03400	−0.091%	$7.1M	$127K	50x	as long as short
BingX ZEREBRO-USDT	+0.0388%	4h	0.03396	−0.214%	—	$1.3M	—	as long as short
Binance ZEREBROUSDT	+0.0392%	4h	0.03398	−0.144%	$4.7M	$1.4M	10x	as long as short
Aster ZEREBROUSDT	+0.0404%	4h	0.03401	−0.055%	$382K	$18K	5x	as long as short

Show all 11 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_ZEREBROUSD	+0.0550%	1h	0.03396	−0.200%	$3K	$2K	10x	as long as short