Funding arb · Price arb /

ZETA

all ZETA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0180%/8h= +19.7% APRpaid last 24h +0.237%

Price spread now: Binance against Kraken Futures−0.044%7-day average −0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$194as in the Price arb table

costs, in and out, $10k−$1901.900% of the position

Long on Kraken Futures Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+1.381%+$138 on $10k

Price spread, last 4 days (all we have)−0.419%−$42 · spread now −0.044%, 7d avg −0.002%

Together, before fees+0.962%+$96 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.042% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.044% now, against its 7-day average of −0.002%). If the spread goes back, that is −$4 on $10k: about 19 hours of funding at the current rate (+$5 a day). At the pace of the last 7 days (+1.381% in total) that is about 5 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ZETAUSD	0.05949	−0.0682	get 0.0085% / 1h	29m 56s	$48K	$729K	10x
Short	Binance ZETAUSDT	0.05946	−0.0502	pay 0.0251% / 4h	3h 29m	$8.1M	$360.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 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 Kraken FuturesbpFee BinancebpOrdersPrice spread, now −0.044%Rate

Funding earned: $37.82
Price spread: −0.044% → −0.002%: −$4.18
Slippage, 4 orders: −$169.98
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$156.34
Costs to cover: 1.900%
Break-even: 35.9 days

Slippage from Kraken Futures: live order book, 23 min ago; Binance: 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 Kraken Futures live order book, 23 min ago	53.22 bp	79.8 bp −$80	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 14 min ago	1.69 bp	15.1 bp −$15	77.6 bp −$776	390.3 bp −$39.0K	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
Variational Omni ZETA	−0.0937%	4h	0.05934	−0.247%	$112K	$730K	—	as long as short
Gate ZETA_USDT	−0.0792%	4h	0.05944	−0.078%	$600K	$10.0M	25x	as long as short
Bybit ZETAUSDT	−0.0725%	4h	0.05936	−0.212%	$5.0M	$93.6M	25x	as long as short
Kraken Futures PF_ZETAUSDlong	−0.0682%	1h	0.05949	long leg	$48K	$729K	10x
KuCoin ZETAUSDTM	−0.0650%	4h	0.05949	+0.006%	$1.2M	$5.7M	20x	as long as short
OKX ZETA-USDT-SWAP	−0.0593%	4h	0.05940	−0.145%	$1.2M	$53.6M	20x	as long as short
Binance ZETAUSDTshort	−0.0502%	4h	0.05946	−0.044%	$8.1M	$360.6M	50x
MEXC ZETA_USDT	−0.0498%	4h	0.05943	−0.095%	$1.2M	$12.9M	50x	as long as short
BloFin ZETA-USDT	−0.0487%	4h	0.05940	−0.145%	$394K	$1.4M	50x	as long as short
Injective ZETA/USDC PERP	+0.0033%	1h	0.06460	+8.597%	$1K	$1K	5.5x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid ZETA	+0.0100%	1h	0.05947	−0.027%	$1.7M	$3.8M	3x	as long as short
Bitget ZETAUSDT	+0.0100%	4h	0.05945	−0.061%	$2.3M	$70.0M	50x	as long as short
BingX ZETA-USDT	+0.0100%	4h	0.05944	−0.078%	—	$8.0M	—	as long as short