Funding arb · Price arb /

ZETA

all ZETA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0091%/8h= −10.0% APRpaid last 24h +0.154%

Price spread now: OKX against Kraken Futures−0.086%7-day average −0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$101as in the Funding arb table

Net, price: spread back to 7d avg − costs−$235as in the Price arb table

costs, in and out, $10k−$2292.289% of the position

Long on Kraken Futures Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+1.283%+$128 on $10k

Price spread, last 4 days (all we have)−0.268%−$27 · spread now −0.086%, 7d avg −0.029%

Together, before fees+1.015%+$102 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and OKX is 0.057% cheaper against Kraken Futures than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.029%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +1.283%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ZETAUSD	0.05901	−0.0688	get 0.0086% / 1h	48m 15s	$49K	$732K	10x
Short	OKX ZETA-USDT-SWAP	0.05896	−0.0778	pay 0.0389% / 4h	3h 48m	$1.2M	$54.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.086%Rate

Funding earned: −$19.08
Price spread: −0.086% → −0.029%: −$5.65
Slippage, 4 orders: −$208.87
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$253.6
Costs to cover: 2.289%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 5 min ago; OKX: live order book, 5 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, 5 min ago	53.22 bp	79.8 bp −$80	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	1.69 bp	37.1 bp −$37	114.3 bp −$1,143	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
Variational Omni ZETA	−0.0896%	4h	0.05928	+0.464%	$115K	$756K	—	as long as short
Gate ZETA_USDT	−0.0868%	4h	0.05896	−0.086%	$600K	$9.9M	25x	as long as short
KuCoin ZETAUSDTM	−0.0866%	4h	0.05905	+0.067%	$1.2M	$5.8M	20x	as long as short
OKX ZETA-USDT-SWAPshort	−0.0778%	4h	0.05896	−0.086%	$1.2M	$54.5M	20x
Kraken Futures PF_ZETAUSDlong	−0.0688%	1h	0.05901	long leg	$49K	$732K	10x
Binance ZETAUSDT	−0.0607%	4h	0.05904	+0.050%	$8.0M	$368.0M	50x	as long as short
MEXC ZETA_USDT	−0.0606%	4h	0.05901	−0.001%	$1.2M	$12.9M	50x	as long as short
BloFin ZETA-USDT	−0.0596%	4h	0.05864	−0.628%	$401K	$1.4M	50x	as long as short
Bybit ZETAUSDT	−0.0270%	4h	0.05894	−0.120%	$4.9M	$95.2M	25x	as long as short
Injective ZETA/USDC PERP	+0.0033%	1h	0.06460	+9.472%	$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	+0.0090%	1h	0.05898	−0.052%	$1.6M	$3.9M	3x	as long as short
Bitget ZETAUSDT	+0.0100%	4h	0.05898	−0.052%	$2.3M	$71.6M	50x	as long as short
BingX ZETA-USDT	+0.0100%	4h	0.05898	−0.052%	—	$8.0M	—	as long as short