Funding you earn now, next payment 23:00 UTC−0.1841%/8h= −201.5% APRpaid last 24h −0.334%
Price spread now: Bitget against Kraken Futures−0.373%48s7-day average −0.188% · you buy dearer than you sell
Net, funding: paid 7d − costs−$228as 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−$1131.132% of the position
Funding, last 7 days−1.151%−$115 on $10k
+Price spread, last 3 days (all we have)+0.278%+$28 · spread now −0.373%, 7d avg −0.188%
=Both sides work against this trade now: funding costs −$55 a day on $10k at the current rate, and Bitget is 0.185% cheaper against Kraken Futures than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of −0.188%). Swap the legs. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -1.151% in total (about -60.0% 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 | 7.7339 | 0.1884 | pay 0.0235% / 1h | 43m 23s | $506K | $1.1M | 25x |
| Short | Bitget ZENUSDT | 7.7050 | 0.0043 | get 0.0043% / 8h | 1h 43m | $2.8M | $3.5M | 50x |
Kraken Futures PF_ZENUSD
Bitget ZENUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget 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
- −$386.53
- Price spread: −0.373% → −0.188%
- −$18.53
- Slippage, 4 orders
- −$91.19
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$518.25
- Costs to cover
- 1.132%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 5 min ago; Bitget: live order book, 4 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, 5 min ago | 24.69 bp | 31.6 bp −$32 | 116.9 bp −$1,169 | doesn't fit | doesn't fit |
| Sell Bitget live order book, 4 min ago | 2.61 bp | 18.2 bp −$18 | 44.0 bp −$440 | 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 | |
|---|---|---|---|---|---|---|---|---|
| OKX ZEN-USDT-SWAP | −0.0085% | 4h | 7.6970 | −0.477% | $2.3M | $5.8M | 50x | as long as short |
| Variational Omni ZEN | −0.0056% | 8h | 7.6768 | −0.738% | $51K | $150K | — | as long as short |
| KuCoin ZENUSDTM | −0.0025% | 8h | 7.7060 | −0.360% | $4.3M | $5.1M | 50x | as long as short |
| dYdX ZEN-USD | 0.0000% | 1h | 7.7225 | −0.147% | $9K | — | 5x | as long as short |
| Extended ZEN-USD | +0.0008% | 1h | 7.7035 | −0.392% | $25K | $110K | 5x | as long as short |
| MEXC ZEN_USDT | +0.0010% | 8h | 7.7040 | −0.386% | $12.3M | $5.6M | 200x | as long as short |
| Binance ZENUSDT | +0.0011% | 8h | 7.7036 | −0.391% | $11.1M | $32.0M | 75x | as long as short |
| BloFin ZEN-USDT | +0.0034% | 8h | 7.6940 | −0.515% | $835K | $1.9M | 75x | as long as short |
| Bitget ZENUSDTshort | +0.0043% | 8h | 7.7050 | −0.373% | $2.8M | $3.5M | 50x | |
| Aster ZENUSDT | +0.0070% | 8h | 7.7084 | −0.329% | $53K | $381K | 10x | as long as short |
OKX ZEN-USDT-SWAP
Variational Omni ZEN
KuCoin ZENUSDTM
dYdX ZEN-USD
Extended ZEN-USD
MEXC ZEN_USDT
Binance ZENUSDT
BloFin ZEN-USDT
Aster ZENUSDTShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid ZEN | +0.0100% | 1h | 7.7226 | −0.146% | $2.4M | $1.9M | 5x | as long as short |
| Bybit ZENUSDT | +0.0100% | 8h | 7.7010 | −0.425% | $4.7M | $6.7M | 75x | as long as short |
| BingX ZEN-USDT | +0.0100% | 8h | 7.7060 | −0.360% | — | $3.4M | — | as long as short |
| GRVT ZEN_USDT_Perp | +0.0100% | 8h | 7.7060 | −0.360% | $574K | $1.6M | 10x | as long as short |
| ApeX Omni ZENUSDT | +0.0100% | 1h | 7.6980 | −0.464% | $27K | $683K | 50x | as long as short |
| SunX ZEN-USDT | +0.0100% | 8h | 7.7060 | −0.360% | $1K | $1.4M | 20x | as long as short |
| Kraken Futures PF_ZENUSDlong | +0.1884% | 1h | 7.7339 | long leg | $506K | $1.1M | 25x |
Hyperliquid ZEN
Bybit ZENUSDT
BingX ZEN-USDT
GRVT ZEN_USDT_Perp
ApeX Omni ZENUSDT
SunX ZEN-USDT