Funding you earn now, next payment 03:00 UTC−0.2954%/8h= −323.5% APRpaid last 24h −0.364%
Price spread now: BloFin against Kraken Futures−0.345%57s7-day average −0.202% · you buy dearer than you sell
Net, funding: paid 7d − costs−$258as 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−$1481.483% of the position
Funding, last 7 days−1.093%−$109 on $10k
+Price spread, last 4 days (all we have)+0.615%+$62 · spread now −0.345%, 7d avg −0.202%
=Both sides work against this trade now: funding costs −$89 a day on $10k at the current rate, and BloFin is 0.143% cheaper against Kraken Futures than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of −0.202%). Swap the legs. The two prices were read 57 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 -1.093% in total (about -57.0% 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 | 7.7397 | 0.3174 | pay 0.0397% / 1h | 33m 22s | $506K | $1.0M | 25x |
| Short | BloFin ZEN-USDT | 7.7130 | 0.0220 | get 0.0220% / 8h | 5h 33m | $852K | $1.6M | 75x |
Kraken Futures PF_ZENUSD
BloFin ZEN-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin 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
- −$620.4
- Price spread: −0.345% → −0.202%
- −$14.32
- Slippage, 4 orders
- −$126.27
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$782.99
- Costs to cover
- 1.483%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 5 min ago; BloFin: 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, 5 min ago | 36.34 bp | 74.9 bp −$75 | doesn't fit | doesn't fit | doesn't fit |
| Sell BloFin live order book, 9 min ago | 3.23 bp | 12.4 bp −$12 | 32.5 bp −$325 | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX ZEN-USD | 0.0000% | 1h | 7.7165 | −0.300% | $9K | — | 5x | as long as short |
| Variational Omni ZEN | +0.0094% | 8h | 7.7020 | −0.487% | $51K | $83K | — | as long as short |
| Aster ZENUSDT | +0.0100% | 8h | 7.7205 | −0.248% | $53K | $375K | 10x | as long as short |
| Binance ZENUSDT | +0.0100% | 8h | 7.7253 | −0.186% | $11.2M | $30.0M | 75x | as long as short |
| Bybit ZENUSDT | +0.0100% | 8h | 7.7200 | −0.254% | $4.6M | $5.8M | 75x | as long as short |
| OKX ZEN-USDT-SWAP | +0.0100% | 4h | 7.7220 | −0.229% | $2.3M | $5.4M | 50x | as long as short |
| MEXC ZEN_USDT | +0.0100% | 8h | 7.7250 | −0.190% | $12.0M | $5.0M | 200x | as long as short |
| KuCoin ZENUSDTM | +0.0100% | 8h | 7.7250 | −0.190% | $4.1M | $4.5M | 50x | as long as short |
| Bitget ZENUSDT | +0.0100% | 8h | 7.7270 | −0.164% | $2.9M | $3.2M | 50x | as long as short |
| BingX ZEN-USDT | +0.0100% | 8h | 7.7220 | −0.229% | — | $3.2M | — | as long as short |
dYdX ZEN-USD
Variational Omni ZEN
Aster ZENUSDT
Binance 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 | 7.7141 | −0.331% | $577K | $1.9M | 10x | as long as short |
| ApeX Omni ZENUSDT | +0.0100% | 1h | 7.7180 | −0.280% | $26K | $685K | 50x | as long as short |
| SunX ZEN-USDT | +0.0100% | 8h | 7.7120 | −0.358% | $2K | $1.3M | 20x | as long as short |
| Extended ZEN-USD | +0.0104% | 1h | 7.7226 | −0.221% | $25K | $127K | 5x | as long as short |
| BloFin ZEN-USDTshort | +0.0220% | 8h | 7.7130 | −0.345% | $852K | $1.6M | 75x | |
| Hyperliquid ZEN | +0.0334% | 1h | 7.7410 | +0.017% | $2.5M | $1.4M | 5x | as long as short |
| Kraken Futures PF_ZENUSDlong | +0.3174% | 1h | 7.7397 | long leg | $506K | $1.0M | 25x |
GRVT ZEN_USDT_Perp
ApeX Omni ZENUSDT
SunX ZEN-USDT
Extended ZEN-USD
Hyperliquid ZEN