Funding arb · Price arb /

XTZ

all XTZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0496%/8h= −54.3% APRpaid last 24h −0.058%

Price spread now: Kraken Futures against BloFin+0.134%57s7-day average +0.187% · you sell dearer than you buy

Net, funding: paid 7d − costs−$96as 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−$960.957% of the position

Long on BloFin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.002%$0 on $10k

Price spread, last 4 days (all we have)+0.050%+$5 · spread now +0.134%, 7d avg +0.187%

Together, before fees+0.048%+$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and Kraken Futures is 0.053% cheaper against BloFin than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.187%). Swap the legs. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.002% in total (about -0.1% 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	BloFin XTZ-USDT	0.3360	0.0142	pay 0.0071% / 4h	40m 07s	$275K	$95K	75x
Short	Kraken Futures PF_XTZUSD	0.3365	−0.0354	pay 0.0044% / 1h	40m 07s	$279K	$274K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.134%Rate

Funding earned: −$104.08
Price spread: +0.134% → +0.187%: −$5.31
Slippage, 4 orders: −$73.73
Fee BloFin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$205.13
Costs to cover: 0.957%
Break-even: never at this rate

Slippage from BloFin: live order book, 39 min ago; Kraken Futures: live order book, 62 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, 39 min ago	4.46 bp	20.8 bp −$21	60.2 bp −$602	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 62 min ago	8.94 bp	25.9 bp −$26	74.0 bp −$740	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	−0.0354%	1h	0.3365	+0.134%	$279K	$274K	50x
Bitget XTZUSDT	−0.0178%	4h	0.3357	−0.089%	$913K	$864K	75x	as long as short
Bybit XTZUSDT	−0.0162%	4h	0.3359	−0.030%	$2.7M	$2.6M	75x	as long as short
Variational Omni XTZ	−0.0154%	4h	0.3365	+0.144%	$102K	$298K	—	as long as short
Injective XTZ/USDC PERP	+0.0033%	1h	0.3484	+3.690%	$62	$17K	5.5x	as long as short
MEXC XTZ_USDT	+0.0092%	4h	0.3355	−0.149%	$2.1M	$704K	100x	as long as short
Binance XTZUSDT	+0.0097%	4h	0.3356	−0.119%	$4.6M	$9.5M	75x	as long as short
OKX XTZ-USDT-SWAP	+0.0100%	8h	0.3357	−0.089%	$1.2M	$1.3M	20x	as long as short
Gate XTZ_USDT	+0.0100%	8h	0.3361	+0.030%	$617K	$164K	75x	as long as short
KuCoin XTZUSDTM	+0.0100%	4h	0.3363	+0.089%	$619K	$192K	30x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX XTZ-USDT	+0.0100%	4h	0.3363	+0.089%	—	$1.1M	—	as long as short
BloFin XTZ-USDTlong	+0.0142%	4h	0.3360	long leg	$275K	$95K	75x