Funding arb · Price arb /

XTZ

all XTZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0278%/8h= −30.4% APRpaid last 24h −0.065%

Price spread now: Kraken Futures against KuCoin+0.780%52s7-day average +0.158% · you sell dearer than you buy

Net, funding: paid 7d − costs−$201as 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−$1751.754% of the position

Long on KuCoin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.252%−$25 on $10k

Price spread, last 3 days (all we have)−0.490%−$49 · spread now +0.780%, 7d avg +0.158%

Together, before fees−0.741%−$74 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.622% dearer against KuCoin than usual: you sell high and buy low (spread +0.780% now, against its 7-day average of +0.158%): +$62 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 7.5 days. At the pace of the last 7 days (−0.252% in total) that is about 17 days. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin XTZUSDTM	0.3343	0.0100	pay 0.0050% / 4h	3h 54m	$659K	$316K	30x
Short	Kraken Futures PF_XTZUSD	0.3369	−0.0178	pay 0.0022% / 1h	54m 27s	$267K	$235K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against KuCoin. 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 KuCoinbpFee Kraken FuturesbpOrdersPrice spread, now +0.780%Rate

Funding earned: −$58.29
Price spread: +0.780% → +0.158%: $62.21
Slippage, 4 orders: −$153.41
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$171.49
Costs to cover: 1.754%
Break-even: never at this rate

Slippage from KuCoin: live order book, 69 min ago; Kraken Futures: live order book, 18 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 KuCoin live order book, 69 min ago	7.33 bp	61.0 bp −$61	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 18 min ago	7.32 bp	27.3 bp −$27	67.9 bp −$679	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	−0.0178%	1h	0.3369	+0.780%	$267K	$235K	50x
Injective XTZ/USDC PERP	+0.0033%	1h	0.3484	+4.218%	$62	$17K	5.5x	as long as short
BingX XTZ-USDT	+0.0036%	4h	0.3346	+0.090%	—	$1.1M	—	as long as short
Variational Omni XTZ	+0.0088%	4h	0.3384	+1.213%	$121K	$296K	—	as long as short
Binance XTZUSDT	+0.0100%	4h	0.3339	−0.120%	$4.7M	$10.3M	75x	as long as short
Bybit XTZUSDT	+0.0100%	4h	0.3339	−0.120%	$2.7M	$3.3M	75x	as long as short
OKX XTZ-USDT-SWAP	+0.0100%	8h	0.3340	−0.090%	$1.2M	$1.4M	20x	as long as short
Gate XTZ_USDT	+0.0100%	8h	0.3342	−0.030%	$619K	$199K	75x	as long as short
MEXC XTZ_USDT	+0.0100%	4h	0.3361	+0.538%	$2.0M	$623K	100x	as long as short
KuCoin XTZUSDTMlong	+0.0100%	4h	0.3343	long leg	$659K	$316K	30x

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget XTZUSDT	+0.0100%	4h	0.3341	−0.060%	$918K	$1.1M	75x	as long as short
BloFin XTZ-USDT	+0.0150%	4h	0.3361	+0.538%	$281K	$100K	75x	as long as short