Funding you earn now, next payment 00:00 UTC−0.2540%/8h= −278.2% APRpaid last 24h −0.316%
Price spread now: BingX against Kraken Futures−0.420%7-day average −0.196% · you buy dearer than you sell
Net, funding: paid 7d − costs−$302as in the Funding arb table
Net, price: spread back to 7d avg − costs−$209as in the Price arb table
costs, in and out, $10k−$1861.862% of the position
Funding, last 7 days−1.160%−$116 on $10k
+Price spread, last 3 days (all we have)+0.326%+$33 · spread now −0.420%, 7d avg −0.196%
=Both sides work against this trade now: funding costs −$76 a day on $10k at the current rate, and BingX is 0.224% cheaper against Kraken Futures than usual: you would sell low and buy high (−$22 if the spread goes back to its 7-day average of −0.196%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -1.160% in total (about -60.5% 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 | 7.8068 | 0.2640 | pay 0.0330% / 1h | 59m 58s | $511K | $1.0M | 25x |
| Short | BingX ZEN-USDT | 7.7740 | 0.0100 | get 0.0100% / 8h | 7h 59m | — | $3.3M | — |
Kraken Futures PF_ZENUSD
BingX ZEN-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX 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
- −$533.49
- Price spread: −0.420% → −0.196%
- −$22.39
- Slippage, 4 orders
- −$166.24
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$742.12
- Costs to cover
- 1.862%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 3 min ago; BingX: live order book, 9 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, 3 min ago | 48.74 bp | 69.8 bp −$70 | 236.1 bp −$2,361 | doesn't fit | doesn't fit |
| Sell BingX live order book, 9 min ago | 0.64 bp | 50.8 bp −$51 | 66.2 bp −$662 | 228.2 bp −$22.8K | 464.9 bp −$232.5K |
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 | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni ZEN | −0.0020% | 8h | 7.7715 | −0.452% | $52K | $85K | — | as long as short |
| dYdX ZEN-USD | 0.0000% | 1h | 7.7748 | −0.409% | $9K | — | 5x | as long as short |
| OKX ZEN-USDT-SWAP | +0.0017% | 4h | 7.7710 | −0.458% | $2.3M | $5.8M | 50x | as long as short |
| KuCoin ZENUSDTM | +0.0051% | 8h | 7.7800 | −0.343% | $4.4M | $4.9M | 50x | as long as short |
| Bybit ZENUSDT | +0.0055% | 8h | 7.7740 | −0.420% | $4.6M | $6.2M | 75x | as long as short |
| Extended ZEN-USD | +0.0080% | 1h | 7.7752 | −0.404% | $25K | $118K | 5x | as long as short |
| MEXC ZEN_USDT | +0.0082% | 8h | 7.7760 | −0.394% | $12.5M | $5.5M | 200x | as long as short |
| Binance ZENUSDT | +0.0083% | 8h | 7.7790 | −0.356% | $11.2M | $31.6M | 75x | as long as short |
| Aster ZENUSDT | +0.0100% | 8h | 7.7757 | −0.398% | $53K | $378K | 10x | as long as short |
| Bitget ZENUSDT | +0.0100% | 8h | 7.7770 | −0.381% | $2.9M | $3.5M | 50x | as long as short |
Variational Omni ZEN
dYdX ZEN-USD
OKX ZEN-USDT-SWAP
KuCoin ZENUSDTM
Bybit ZENUSDT
Extended ZEN-USD
MEXC ZEN_USDT
Binance ZENUSDT
Aster ZENUSDT
Bitget ZENUSDTShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX ZEN-USDTshort | +0.0100% | 8h | 7.7740 | −0.420% | — | $3.3M | — | |
| GRVT ZEN_USDT_Perp | +0.0100% | 8h | 7.7690 | −0.484% | $587K | $1.7M | 10x | as long as short |
| ApeX Omni ZENUSDT | +0.0100% | 1h | 7.7750 | −0.407% | $27K | $686K | 50x | as long as short |
| SunX ZEN-USDT | +0.0100% | 8h | 7.7680 | −0.497% | $2K | $1.4M | 20x | as long as short |
| BloFin ZEN-USDT | +0.0203% | 8h | 7.7800 | −0.343% | $848K | $1.8M | 75x | as long as short |
| Hyperliquid ZEN | +0.0320% | 1h | 7.7957 | −0.142% | $2.4M | $1.8M | 5x | as long as short |
| Kraken Futures PF_ZENUSDlong | +0.2640% | 1h | 7.8068 | long leg | $511K | $1.0M | 25x |
GRVT ZEN_USDT_Perp
ApeX Omni ZENUSDT
SunX ZEN-USDT
BloFin ZEN-USDT
Hyperliquid ZEN