Funding arb · Price arb /

XTZ

all XTZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0673%/8h= −73.7% APRpaid last 24h −0.042%

Price spread now: Kraken Futures against Bitget+0.345%7-day average +0.156% · you sell dearer than you buy

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$810.807% of the position

Long on Bitget Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.088%+$9 on $10k

Price spread, last 4 days (all we have)−0.084%−$8 · spread now +0.345%, 7d avg +0.156%

Together, before fees+0.004%$0 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.189% dearer against Bitget than usual: you sell high and buy low (spread +0.345% now, against its 7-day average of +0.156%): +$19 on $10k if it goes back. Holding the pair costs −$20 a day in funding at the current rate, which eats that in about 22 hours. Mind the row above: over the last 7 days funding on this pair paid +0.088%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.088% in total (about 4.6% 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	Bitget XTZUSDT	0.3402	0.0100	pay 0.0050% / 4h	1h 41m	$920K	$958K	75x
Short	Kraken Futures PF_XTZUSD	0.3414	−0.0573	pay 0.0072% / 1h	41m 39s	$281K	$243K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bitget. 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 BitgetbpFee Kraken FuturesbpOrdersPrice spread, now +0.345%Rate

Funding earned: −$141.27
Price spread: +0.345% → +0.156%: $18.91
Slippage, 4 orders: −$58.69
Fee Bitget: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$203.04
Costs to cover: 0.807%
Break-even: never at this rate

Slippage from Bitget: live order book, 24 min ago; Kraken Futures: live order book, 21 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 Bitget live order book, 24 min ago	2.95 bp	16.0 bp −$16	54.1 bp −$541	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 21 min ago	2.94 bp	25.3 bp −$25	69.2 bp −$692	doesn't fit	doesn't fit

XTZ on 12 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_XTZUSDshort	−0.0573%	1h	0.3414	+0.345%	$281K	$243K	50x
Injective XTZ/USDC PERP	+0.0033%	1h	0.3484	+2.410%	$62	$17K	5.5x	as long as short
BloFin XTZ-USDT	+0.0074%	4h	0.3398	−0.118%	$281K	$102K	75x	as long as short
Binance XTZUSDT	+0.0100%	4h	0.3400	−0.059%	$4.7M	$9.8M	75x	as long as short
Bybit XTZUSDT	+0.0100%	4h	0.3404	+0.059%	$2.7M	$2.9M	75x	as long as short
OKX XTZ-USDT-SWAP	+0.0100%	8h	0.3400	−0.059%	$1.2M	$1.3M	20x	as long as short
Gate XTZ_USDT	+0.0100%	8h	0.3408	+0.176%	$630K	$169K	75x	as long as short
MEXC XTZ_USDT	+0.0100%	4h	0.3405	+0.088%	$2.1M	$641K	100x	as long as short
KuCoin XTZUSDTM	+0.0100%	4h	0.3412	+0.294%	$645K	$187K	30x	as long as short
Bitget XTZUSDTlong	+0.0100%	4h	0.3402	long leg	$920K	$958K	75x

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX XTZ-USDT	+0.0100%	4h	0.3404	+0.059%	—	$1.1M	—	as long as short
Variational Omni XTZ	+0.0100%	4h	0.3390	−0.355%	$85K	$331K	—	as long as short