Funding you earn now, next payment 04:00 UTC+0.3036%/8h= +332.4% APRpaid last 24h +0.444%
Price spread now: Kraken Futures against Bybit+0.338%7-day average +0.251% · you sell dearer than you buy
Net, funding: paid 7d − costs−$78as in the Funding arb table
Net, price: spread back to 7d avg − costs−$207as in the Price arb table
costs, in and out, $10k−$2162.158% of the position
Funding, last 7 days+1.375%+$138 on $10k
+Price spread, last 4 days (all we have)−0.370%−$37 · spread now +0.338%, 7d avg +0.251%
=Both sides work for this trade now. Funding pays +$91 a day on $10k at the current rate, and Kraken Futures is 0.087% dearer against Bybit than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.251%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 1.375% in total (about 71.7% 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 | Bybit ZENUSDT | 7.5340 | 0.0100 | pay 0.0100% / 8h | 4h 47m | $4.4M | $5.9M | 75x |
| Short | Kraken Futures PF_ZENUSD | 7.5594 | 0.3136 | get 0.0392% / 1h | 47m 07s | $489K | $1.0M | 25x |
Bybit ZENUSDT
Kraken Futures PF_ZENUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Bybit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $637.51
- Price spread: +0.338% → +0.251%
- $8.66
- Slippage, 4 orders
- −$194.82
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $430.35
- Costs to cover
- 2.158%
- Break-even
- 2.3 days
Slippage from Bybit: live order book, 1 min ago; Kraken Futures: live order book, 1 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 Bybit live order book, 1 min ago | 3.97 bp | 41.6 bp −$42 | 155.3 bp −$1,553 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 1 min ago | 55.52 bp | 61.7 bp −$62 | 134.5 bp −$1,345 | doesn't fit | doesn't fit |
ZEN on 17 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 | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni ZENUSDT | −0.0040% | 1h | 7.5510 | +0.226% | $26K | $689K | 50x | as long as short |
| dYdX ZEN-USD | 0.0000% | 1h | 7.5496 | +0.208% | $9K | — | 5x | as long as short |
| Aster ZENUSDT | +0.0100% | 8h | 7.5514 | +0.231% | $52K | $374K | 10x | as long as short |
| Binance ZENUSDT | +0.0100% | 8h | 7.5341 | +0.001% | $11.0M | $30.3M | 75x | as long as short |
| Bybit ZENUSDTlong | +0.0100% | 8h | 7.5340 | long leg | $4.4M | $5.9M | 75x | |
| OKX ZEN-USDT-SWAP | +0.0100% | 4h | 7.5320 | −0.027% | $2.2M | $5.4M | 50x | as long as short |
| MEXC ZEN_USDT | +0.0100% | 8h | 7.5350 | +0.013% | $11.5M | $5.1M | 200x | as long as short |
| KuCoin ZENUSDTM | +0.0100% | 8h | 7.5500 | +0.212% | $4.0M | $4.5M | 50x | as long as short |
| Bitget ZENUSDT | +0.0100% | 8h | 7.5290 | −0.066% | $2.8M | $3.2M | 50x | as long as short |
| BingX ZEN-USDT | +0.0100% | 8h | 7.5440 | +0.133% | — | $3.2M | — | as long as short |
ApeX Omni ZENUSDT
dYdX ZEN-USD
Aster ZENUSDT
Binance ZENUSDT
OKX ZEN-USDT-SWAP
MEXC ZEN_USDT
KuCoin ZENUSDTM
Bitget ZENUSDT
BingX ZEN-USDTShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni ZEN | +0.0100% | 8h | 7.5732 | +0.520% | $50K | $85K | — | as long as short |
| GRVT ZEN_USDT_Perp | +0.0100% | 8h | 7.5503 | +0.217% | $569K | $2.0M | 10x | as long as short |
| SunX ZEN-USDT | +0.0100% | 8h | 7.5420 | +0.106% | $1K | $1.3M | 20x | as long as short |
| Extended ZEN-USD | +0.0104% | 1h | 7.5414 | +0.099% | $24K | $142K | 5x | as long as short |
| BloFin ZEN-USDT | +0.0220% | 8h | 7.5400 | +0.080% | $832K | $1.5M | 75x | as long as short |
| Hyperliquid ZEN | +0.0227% | 1h | 7.5515 | +0.232% | $2.4M | $1.4M | 5x | as long as short |
| Kraken Futures PF_ZENUSDshort | +0.3136% | 1h | 7.5594 | +0.338% | $489K | $1.0M | 25x |
Variational Omni ZEN
GRVT ZEN_USDT_Perp
SunX ZEN-USDT
Extended ZEN-USD
BloFin ZEN-USDT
Hyperliquid ZEN