Funding arb · Price arb /

XTZ

all XTZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0277%/8h= +30.3% APRpaid last 24h +0.068%

Price spread now: OKX against Kraken Futures−0.249%7-day average −0.159% · you buy dearer than you sell

Net, funding: paid 7d − costs−$107as in the Funding arb table

Net, price: spread back to 7d avg − costs−$115as in the Price arb table

costs, in and out, $10k−$1061.059% of the position

Long on Kraken Futures Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.014%−$1 on $10k

Price spread, last 3 days (all we have)+0.084%+$8 · spread now −0.249%, 7d avg −0.159%

Together, before fees+0.070%+$7 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.090% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.249% now, against its 7-day average of −0.159%). If the spread goes back, that is −$9 on $10k: about 26 hours of funding at the current rate (+$8 a day).

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.014% in total (about -0.7% 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	0.3388	−0.0177	get 0.0022% / 1h	36m 51s	$268K	$240K	50x
Short	OKX XTZ-USDT-SWAP	0.3380	0.0100	get 0.0100% / 8h	7h 36m	$1.2M	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.249%Rate

Funding earned: $58.08
Price spread: −0.249% → −0.159%: −$9
Slippage, 4 orders: −$85.95
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$56.87
Costs to cover: 1.059%
Break-even: 13.9 days

Slippage from Kraken Futures: live order book, 36 min ago; OKX: 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 Kraken Futures live order book, 36 min ago	7.32 bp	25.6 bp −$26	115.0 bp −$1,150	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	2.95 bp	26.8 bp −$27	192.5 bp −$1,925	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	0.3388	long leg	$268K	$240K	50x
Injective XTZ/USDC PERP	+0.0033%	1h	0.3484	+2.821%	$62	$17K	5.5x	as long as short
BloFin XTZ-USDT	+0.0099%	4h	0.3386	−0.072%	$280K	$97K	75x	as long as short
Binance XTZUSDT	+0.0100%	4h	0.3379	−0.278%	$4.8M	$10.5M	75x	as long as short
Bybit XTZUSDT	+0.0100%	4h	0.3378	−0.308%	$2.7M	$3.4M	75x	as long as short
OKX XTZ-USDT-SWAPshort	+0.0100%	8h	0.3380	−0.249%	$1.2M	$1.4M	20x
Gate XTZ_USDT	+0.0100%	8h	0.3378	−0.308%	$625K	$200K	75x	as long as short
MEXC XTZ_USDT	+0.0100%	4h	0.3379	−0.278%	$2.0M	$640K	100x	as long as short
KuCoin XTZUSDTM	+0.0100%	4h	0.3382	−0.190%	$644K	$338K	30x	as long as short
Bitget XTZUSDT	+0.0100%	4h	0.3378	−0.308%	$909K	$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
BingX XTZ-USDT	+0.0100%	4h	0.3381	−0.219%	—	$1.1M	—	as long as short
Variational Omni XTZ	+0.0100%	4h	0.3389	+0.016%	$121K	$296K	—	as long as short