Funding arb · Price arb /

ZETA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.3174%/8h= −347.5% APRpaid last 24h −0.349%

Price spread now: Kraken Futures against Gate−0.615%7-day average −0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs−$341as in the Funding arb table

Net, price: spread back to 7d avg − costs−$266as in the Price arb table

costs, in and out, $10k−$2082.081% of the position

Long on Gate Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−1.325%−$132 on $10k

Price spread, last 4 days (all we have)+1.444%+$144 · spread now −0.615%, 7d avg −0.032%

Together, before fees+0.119%+$12 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$95 a day on $10k at the current rate, and Kraken Futures is 0.583% cheaper against Gate than usual: you would sell low and buy high (−$58 if the spread goes back to its 7-day average of −0.032%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -1.325% in total (about -69.1% 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	Gate ZETA_USDT	0.05828	−0.0524	get 0.0262% / 4h	3h 49m	$586K	$7.1M	25x
Short	Kraken Futures PF_ZETAUSD	0.05792	−0.3698	pay 0.0462% / 1h	49m 38s	$55K	$619K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Gate. 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 GatebpFee Kraken FuturesbpOrdersPrice spread, now −0.615%Rate

Funding earned: −$666.51
Price spread: −0.615% → −0.032%: −$58.34
Slippage, 4 orders: −$183.06
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$932.91
Costs to cover: 2.081%
Break-even: never at this rate

Slippage from Gate: live order book, 4 min ago; Kraken Futures: live order book, 48 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 Gate live order book, 4 min ago	8.63 bp	37.8 bp −$38	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 48 min ago	48.55 bp	65.6 bp −$66	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
Kraken Futures PF_ZETAUSDshort	−0.3698%	1h	0.05792	−0.615%	$55K	$619K	10x
Variational Omni ZETA	−0.1569%	4h	0.05803	−0.437%	$119K	$612K	—	as long as short
MEXC ZETA_USDT	−0.1038%	4h	0.05822	−0.103%	$1.2M	$9.8M	50x	as long as short
Binance ZETAUSDT	−0.1030%	4h	0.05818	−0.171%	$7.5M	$292.0M	50x	as long as short
BloFin ZETA-USDT	−0.0980%	4h	0.05799	−0.498%	$357K	$1.2M	50x	as long as short
Bybit ZETAUSDT	−0.0779%	4h	0.05823	−0.086%	$4.7M	$78.2M	25x	as long as short
OKX ZETA-USDT-SWAP	−0.0709%	4h	0.05822	−0.103%	$1.1M	$41.1M	20x	as long as short
KuCoin ZETAUSDTM	−0.0612%	4h	0.05819	−0.154%	$973K	$4.5M	20x	as long as short
Gate ZETA_USDTlong	−0.0524%	4h	0.05828	long leg	$586K	$7.1M	25x
Hyperliquid ZETA	−0.0010%	1h	0.05813	−0.257%	$1.6M	$3.1M	3x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective ZETA/USDC PERP	+0.0033%	1h	0.06460	+10.844%	$1K	$1K	5.5x	as long as short
Bitget ZETAUSDT	+0.0100%	4h	0.05830	+0.034%	$2.5M	$57.1M	50x	as long as short
BingX ZETA-USDT	+0.0100%	4h	0.05820	−0.137%	—	$7.2M	—	as long as short