Funding arb · Price arb /

ZETA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0001%/8h= −0.1% APRpaid last 24h −0.314%

Price spread now: Kraken Futures against Binance+0.348%7-day average +0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$279as in the Funding arb table

Net, price: spread back to 7d avg − costs−$95as in the Price arb table

costs, in and out, $10k−$1271.269% of the position

Long on Binance Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−1.523%−$152 on $10k

Price spread, last 3 days (all we have)+0.286%+$29 · spread now +0.348%, 7d avg +0.031%

Together, before fees−1.237%−$124 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Kraken Futures is 0.317% dearer against Binance than usual: you sell high and buy low, +$32 on $10k if it goes back to its 7-day average of +0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ZETAUSDT	0.06021	−0.0425	get 0.0212% / 4h	2h 08m	$8.3M	$303.0M	50x
Short	Kraken Futures PF_ZETAUSD	0.06042	−0.0426	pay 0.0053% / 1h	8m 57s	$66K	$631K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Binance. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BinancebpFee Kraken FuturesbpOrdersPrice spread, now +0.348%Rate

Funding earned: −$0.15
Price spread: +0.348% → +0.031%: $31.67
Slippage, 4 orders: −$106.86
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$95.34
Costs to cover: 1.269%
Break-even: never at this rate

Slippage from Binance: live order book, 5 min ago; Kraken Futures: 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 Binance live order book, 5 min ago	1.66 bp	17.3 bp −$17	56.5 bp −$565	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 14 min ago	26.57 bp	47.6 bp −$48	doesn't fit	doesn't fit	doesn't fit

ZETA on 13 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
Gate ZETA_USDT	−0.0798%	4h	0.06038	+0.276%	$601K	$9.5M	25x	as long as short
KuCoin ZETAUSDTM	−0.0498%	4h	0.06040	+0.309%	$1.2M	$5.1M	20x	as long as short
BloFin ZETA-USDT	−0.0470%	4h	0.06027	+0.094%	$404K	$1.0M	50x	as long as short
Kraken Futures PF_ZETAUSDshort	−0.0426%	1h	0.06042	+0.348%	$66K	$631K	10x
Binance ZETAUSDTlong	−0.0425%	4h	0.06021	long leg	$8.3M	$303.0M	50x
MEXC ZETA_USDT	−0.0424%	4h	0.06028	+0.110%	$1.5M	$11.6M	50x	as long as short
BingX ZETA-USDT	−0.0386%	4h	0.06022	+0.011%	—	$6.7M	—	as long as short
OKX ZETA-USDT-SWAP	−0.0208%	4h	0.06031	+0.160%	$1.1M	$46.3M	20x	as long as short
Variational Omni ZETA	−0.0123%	4h	0.06005	−0.274%	$139K	$702K	—	as long as short
Injective ZETA/USDC PERP	+0.0033%	1h	0.06460	+7.285%	$1K	$5K	5.5x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ZETAUSDT	+0.0041%	4h	0.06027	+0.094%	$5.4M	$78.1M	25x	as long as short
Hyperliquid ZETA	+0.0100%	1h	0.06033	+0.193%	$1.7M	$3.7M	3x	as long as short
Bitget ZETAUSDT	+0.0100%	4h	0.06031	+0.160%	$2.2M	$57.6M	50x	as long as short