Funding arb · Price arb /

XTZ

all XTZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0694%/8h= +75.9% APRpaid last 24h +0.035%

Price spread now: Binance against Kraken Futures−0.151%7-day average −0.192% · you buy dearer than you sell

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

costs, in and out, $10k−$780.785% of the position

Long on Kraken Futures Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.028%−$3 on $10k

Price spread, last 3 days (all we have)−0.121%−$12 · spread now −0.151%, 7d avg −0.192%

Together, before fees−0.149%−$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$21 a day on $10k at the current rate, and Binance is 0.042% dearer against Kraken Futures than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.192%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.028% in total (about -1.5% 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	Kraken Futures PF_XTZUSD	0.3415	−0.0594	get 0.0074% / 1h	10m 10s	$277K	$218K	50x
Short	Binance XTZUSDT	0.3410	0.0100	get 0.0050% / 4h	1h 10m	$4.8M	$10.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Kraken Futures. 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 Kraken FuturesbpFee BinancebpOrdersPrice spread, now −0.151%Rate

Funding earned: $145.65
Price spread: −0.151% → −0.192%: $4.16
Slippage, 4 orders: −$58.49
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: $71.33
Costs to cover: 0.785%
Break-even: 3.6 days

Slippage from Kraken Futures: live order book, 7 min ago; Binance: live order book, 15 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 Kraken Futures live order book, 7 min ago	5.85 bp	23.4 bp −$23	90.4 bp −$904	doesn't fit	doesn't fit
Sell Binance live order book, 15 min ago	1.47 bp	18.1 bp −$18	64.5 bp −$645	428.7 bp −$42.9K	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_XTZUSDlong	−0.0594%	1h	0.3415	long leg	$277K	$218K	50x
Injective XTZ/USDC PERP	+0.0033%	1h	0.3484	+2.016%	$62	$17K	5.5x	as long as short
BingX XTZ-USDT	+0.0036%	4h	0.3411	−0.122%	—	$1.1M	—	as long as short
Binance XTZUSDTshort	+0.0100%	4h	0.3410	−0.151%	$4.8M	$10.1M	75x
Bybit XTZUSDT	+0.0100%	4h	0.3411	−0.122%	$2.8M	$3.3M	75x	as long as short
OKX XTZ-USDT-SWAP	+0.0100%	8h	0.3411	−0.122%	$1.2M	$1.4M	20x	as long as short
Gate XTZ_USDT	+0.0100%	8h	0.3411	−0.122%	$634K	$217K	75x	as long as short
MEXC XTZ_USDT	+0.0100%	4h	0.3410	−0.151%	$2.1M	$627K	100x	as long as short
KuCoin XTZUSDTM	+0.0100%	4h	0.3412	−0.092%	$674K	$317K	30x	as long as short
Bitget XTZUSDT	+0.0100%	4h	0.3410	−0.151%	$943K	$1.2M	75x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni XTZ	+0.0100%	4h	0.3409	−0.194%	$122K	$296K	—	as long as short
BloFin XTZ-USDT	+0.0111%	4h	0.3407	−0.239%	$281K	$97K	75x	as long as short