Funding arb · Price arb /

ZETA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.2885%/8h= +315.9% APRpaid last 24h +0.396%

Price spread now: KuCoin against Kraken Futures−0.166%7-day average +0.098% · you buy dearer than you sell

Net, funding: paid 7d − costs−$143as in the Funding arb table

Net, price: spread back to 7d avg − costs−$298as in the Price arb table

costs, in and out, $10k−$2722.719% of the position

Long on Kraken Futures Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+1.290%+$129 on $10k

Price spread, last 4 days (all we have)−0.060%−$6 · spread now −0.166%, 7d avg +0.098%

Together, before fees+1.230%+$123 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.264% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.166% now, against its 7-day average of +0.098%). If the spread goes back, that is −$26 on $10k: about 7 hours of funding at the current rate (+$87 a day). At the pace of the last 7 days (+1.290% in total) that is about 34 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 1.290% in total (about 67.2% 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_ZETAUSD	0.05840	−0.3583	get 0.0448% / 1h	40m 56s	$53K	$707K	10x
Short	KuCoin ZETAUSDTM	0.05830	−0.0698	pay 0.0349% / 4h	1h 40m	$1.2M	$5.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.166%Rate

Funding earned: $605.79
Price spread: −0.166% → +0.098%: −$26.35
Slippage, 4 orders: −$249.86
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $307.58
Costs to cover: 2.719%
Break-even: 3.4 days

Slippage from Kraken Futures: live order book, 2 min ago; KuCoin: live order book, 7 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, 2 min ago	34.93 bp	52.7 bp −$53	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 7 min ago	11.95 bp	62.0 bp −$62	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_ZETAUSDlong	−0.3583%	1h	0.05840	long leg	$53K	$707K	10x
Variational Omni ZETA	−0.1572%	4h	0.05836	−0.055%	$110K	$676K	—	as long as short
Bybit ZETAUSDT	−0.1380%	4h	0.05831	−0.149%	$4.9M	$84.7M	25x	as long as short
Gate ZETA_USDT	−0.1220%	4h	0.05828	−0.200%	$638K	$8.7M	25x	as long as short
BloFin ZETA-USDT	−0.0849%	4h	0.05836	−0.063%	$378K	$1.3M	50x	as long as short
Binance ZETAUSDT	−0.0812%	4h	0.05829	−0.181%	$7.8M	$321.4M	50x	as long as short
MEXC ZETA_USDT	−0.0804%	4h	0.05838	−0.029%	$1.2M	$10.8M	50x	as long as short
KuCoin ZETAUSDTMshort	−0.0698%	4h	0.05830	−0.166%	$1.2M	$5.0M	20x
OKX ZETA-USDT-SWAP	−0.0684%	4h	0.05829	−0.183%	$1.2M	$45.7M	20x	as long as short
Hyperliquid ZETA	−0.0132%	1h	0.05842	+0.040%	$1.6M	$3.4M	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	+10.622%	$1K	$1K	5.5x	as long as short
Bitget ZETAUSDT	+0.0100%	4h	0.05836	−0.063%	$2.3M	$62.0M	50x	as long as short
BingX ZETA-USDT	+0.0100%	4h	0.05835	−0.080%	—	$7.6M	—	as long as short