Funding you earn now, next payment 01:00 UTC−0.2856%/8h= −312.8% APRpaid last 24h −0.326%
Price spread now: Binance against Kraken Futures−0.418%7-day average −0.171% · you buy dearer than you sell
Net, funding: paid 7d − costs−$266as in the Funding arb table
Net, price: spread back to 7d avg − costs−$165as in the Price arb table
costs, in and out, $10k−$1411.408% of the position
Funding, last 7 days−1.248%−$125 on $10k
+Price spread, last 3 days (all we have)+0.333%+$33 · spread now −0.418%, 7d avg −0.171%
=Both sides work against this trade now: funding costs −$86 a day on $10k at the current rate, and Binance is 0.247% cheaper against Kraken Futures than usual: you would sell low and buy high (−$25 if the spread goes back to its 7-day average of −0.171%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -1.248% in total (about -65.1% 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_ZENUSD | 7.8490 | 0.2956 | pay 0.0370% / 1h | 12m 03s | $513K | $1.0M | 25x |
| Short | Binance ZENUSDT | 7.8162 | 0.0100 | get 0.0100% / 8h | 7h 12m | $11.4M | $31.3M | 75x |
Kraken Futures PF_ZENUSD
Binance ZENUSDTFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$599.81
- Price spread: −0.418% → −0.171%
- −$24.66
- Slippage, 4 orders
- −$120.78
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$765.25
- Costs to cover
- 1.408%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 1 min ago; Binance: live order book, 14 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, 1 min ago | 24.96 bp | 84.8 bp −$85 | 176.0 bp −$1,760 | doesn't fit | doesn't fit |
| Sell Binance live order book, 14 min ago | 0.64 bp | 12.3 bp −$12 | 32.5 bp −$325 | 251.3 bp −$25.1K | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX ZEN-USD | 0.0000% | 1h | 7.8232 | −0.329% | $9K | — | 5x | as long as short |
| Variational Omni ZEN | +0.0019% | 8h | 7.7858 | −0.805% | $52K | $85K | — | as long as short |
| Aster ZENUSDT | +0.0100% | 8h | 7.8173 | −0.403% | $53K | $379K | 10x | as long as short |
| Binance ZENUSDTshort | +0.0100% | 8h | 7.8162 | −0.418% | $11.4M | $31.3M | 75x | |
| Bybit ZENUSDT | +0.0100% | 8h | 7.8130 | −0.459% | $4.7M | $6.1M | 75x | as long as short |
| OKX ZEN-USDT-SWAP | +0.0100% | 4h | 7.8070 | −0.535% | $2.4M | $5.7M | 50x | as long as short |
| MEXC ZEN_USDT | +0.0100% | 8h | 7.8170 | −0.408% | $12.5M | $5.3M | 200x | as long as short |
| KuCoin ZENUSDTM | +0.0100% | 8h | 7.8230 | −0.331% | $4.5M | $4.8M | 50x | as long as short |
| Bitget ZENUSDT | +0.0100% | 8h | 7.8210 | −0.357% | $2.9M | $3.4M | 50x | as long as short |
| BingX ZEN-USDT | +0.0100% | 8h | 7.8170 | −0.408% | — | $3.3M | — | as long as short |
dYdX ZEN-USD
Variational Omni ZEN
Aster ZENUSDT
Bybit 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 | |
|---|---|---|---|---|---|---|---|---|
| GRVT ZEN_USDT_Perp | +0.0100% | 8h | 7.8068 | −0.537% | $590K | $1.7M | 10x | as long as short |
| ApeX Omni ZENUSDT | +0.0100% | 1h | 7.8090 | −0.510% | $27K | $688K | 50x | as long as short |
| SunX ZEN-USDT | +0.0100% | 8h | 7.8080 | −0.523% | $2K | $1.4M | 20x | as long as short |
| Extended ZEN-USD | +0.0104% | 1h | 7.8163 | −0.417% | $22K | $121K | 5x | as long as short |
| BloFin ZEN-USDT | +0.0220% | 8h | 7.8110 | −0.484% | $847K | $1.8M | 75x | as long as short |
| Hyperliquid ZEN | +0.0343% | 1h | 7.8359 | −0.167% | $2.5M | $1.8M | 5x | as long as short |
| Kraken Futures PF_ZENUSDlong | +0.2956% | 1h | 7.8490 | long leg | $513K | $1.0M | 25x |
GRVT ZEN_USDT_Perp
ApeX Omni ZENUSDT
SunX ZEN-USDT
Extended ZEN-USD
BloFin ZEN-USDT
Hyperliquid ZEN