Funding arb · Price arb /

XTZ

all XTZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0310%/8h= +34.0% APRpaid last 24h +0.040%

Price spread now: BloFin against Kraken Futures+0.404%57s7-day average −0.192% · you sell dearer than you buy

Net, funding: paid 7d − costs−$84as 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−$810.813% of the position

Long on Kraken Futures Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.022%−$2 on $10k

Price spread, last 3 days (all we have)−0.639%−$64 · spread now +0.404%, 7d avg −0.192%

Together, before fees−0.661%−$66 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and BloFin is 0.595% dearer against Kraken Futures than usual: you sell high and buy low: +$60 more if the spread goes back to its 7-day average of −0.192%. 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 -0.022% in total (about -1.2% 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	0.3376	−0.0177	get 0.0022% / 1h	55m 58s	$268K	$234K	50x
Short	BloFin XTZ-USDT	0.3390	0.0133	get 0.0066% / 4h	3h 55m	$280K	$97K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.404%Rate

Funding earned: $65.11
Price spread: +0.404% → −0.192%: $59.51
Slippage, 4 orders: −$59.29
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $43.33
Costs to cover: 0.813%
Break-even: 2.3 days

Slippage from Kraken Futures: live order book, 17 min ago; BloFin: live order book, 11 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, 17 min ago	7.32 bp	25.6 bp −$26	115.0 bp −$1,150	doesn't fit	doesn't fit
Sell BloFin live order book, 11 min ago	1.46 bp	17.7 bp −$18	45.6 bp −$456	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_XTZUSDlong	−0.0177%	1h	0.3376	long leg	$268K	$234K	50x
Injective XTZ/USDC PERP	+0.0033%	1h	0.3484	+3.188%	$62	$17K	5.5x	as long as short
BingX XTZ-USDT	+0.0036%	4h	0.3375	−0.041%	—	$1.1M	—	as long as short
Variational Omni XTZ	+0.0088%	4h	0.3384	+0.212%	$121K	$296K	—	as long as short
Binance XTZUSDT	+0.0100%	4h	0.3366	−0.300%	$4.8M	$10.2M	75x	as long as short
Bybit XTZUSDT	+0.0100%	4h	0.3369	−0.218%	$2.7M	$3.3M	75x	as long as short
OKX XTZ-USDT-SWAP	+0.0100%	8h	0.3367	−0.278%	$1.2M	$1.4M	20x	as long as short
Gate XTZ_USDT	+0.0100%	8h	0.3372	−0.130%	$625K	$198K	75x	as long as short
MEXC XTZ_USDT	+0.0100%	4h	0.3368	−0.248%	$2.0M	$618K	100x	as long as short
KuCoin XTZUSDTM	+0.0100%	4h	0.3372	−0.130%	$666K	$316K	30x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget XTZUSDT	+0.0100%	4h	0.3369	−0.218%	$924K	$1.1M	75x	as long as short
BloFin XTZ-USDTshort	+0.0133%	4h	0.3390	+0.404%	$280K	$97K	75x