Funding arb · Price arb /

ZETA

all ZETA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.2071%/8h= +226.8% APRpaid last 24h +0.654%

Price spread now: Bitget against Kraken Futures−0.040%7-day average +0.058% · you buy dearer than you sell

Net, funding: paid 7d − costs+$11as in the Funding arb table

Net, price: spread back to 7d avg − costs−$160as in the Price arb table

costs, in and out, $10k−$1511.505% of the position

Long on Kraken Futures Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+1.612%+$161 on $10k

Price spread, last 4 days (all we have)−0.304%−$30 · spread now −0.040%, 7d avg +0.058%

Together, before fees+1.308%+$131 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.098% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.040% now, against its 7-day average of +0.058%). If the spread goes back, that is −$10 on $10k: about 4 hours of funding at the current rate (+$62 a day). At the pace of the last 7 days (+1.612% in total) that is about 10 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ZETAUSD	0.05554	−0.2137	get 0.0267% / 1h	30m 46s	$54K	$515K	10x
Short	Bitget ZETAUSDT	0.05552	−0.0066	pay 0.0033% / 4h	1h 30m	$2.2M	$49.2M	50x

Funding 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 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 BitgetbpOrdersPrice spread, now −0.040%Rate

Funding earned: $435
Price spread: −0.040% → +0.058%: −$9.84
Slippage, 4 orders: −$128.55
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: $274.61
Costs to cover: 1.505%
Break-even: 2.6 days

Slippage from Kraken Futures: live order book, 15 min ago; Bitget: live order book, 1 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, 15 min ago	19.44 bp	44.9 bp −$45	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 1 min ago	3.60 bp	25.3 bp −$25	102.3 bp −$1,023	doesn't fit	doesn't fit

ZETA on 13 exchanges

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_ZETAUSDlong	−0.2137%	1h	0.05554	long leg	$54K	$515K	10x
Variational Omni ZETA	−0.1440%	4h	0.05551	−0.066%	$119K	$423K	—	as long as short
Binance ZETAUSDT	−0.0895%	4h	0.05556	+0.027%	$6.7M	$243.0M	50x	as long as short
MEXC ZETA_USDT	−0.0880%	4h	0.05554	−0.004%	$1.1M	$7.9M	50x	as long as short
BloFin ZETA-USDT	−0.0844%	4h	0.05540	−0.256%	$330K	$1.0M	50x	as long as short
Gate ZETA_USDT	−0.0834%	4h	0.05560	+0.104%	$521K	$6.1M	25x	as long as short
Bybit ZETAUSDT	−0.0824%	4h	0.05556	+0.032%	$4.3M	$66.0M	25x	as long as short
OKX ZETA-USDT-SWAP	−0.0528%	4h	0.05552	−0.040%	$976K	$33.3M	20x	as long as short
KuCoin ZETAUSDTM	−0.0434%	4h	0.05559	+0.086%	$935K	$3.7M	20x	as long as short
Hyperliquid ZETA	−0.0286%	1h	0.05557	+0.050%	$1.5M	$2.8M	3x	as long as short

Show all 13 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ZETAUSDTshort	−0.0066%	4h	0.05552	−0.040%	$2.2M	$49.2M	50x
BingX ZETA-USDT	−0.0012%	4h	0.05557	+0.050%	—	$6.6M	—	as long as short
Injective ZETA/USDC PERP	+0.0033%	1h	0.06460	+16.307%	$1K	$1K	5.5x	as long as short