Funding arb · Price arb /

ZETA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.1500%/8h= −164.3% APRpaid last 24h −0.182%

Price spread now: Kraken Futures against KuCoin+0.004%7-day average −0.075% · you sell dearer than you buy

Net, funding: paid 7d − costs−$458as in the Funding arb table

Net, price: spread back to 7d avg − costs−$320as in the Price arb table

costs, in and out, $10k−$3283.282% of the position

Long on KuCoin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−1.303%−$130 on $10k

Price spread, last 3 days (all we have)+0.264%+$26 · spread now +0.004%, 7d avg −0.075%

Together, before fees−1.038%−$104 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.079% dearer against KuCoin than usual: you sell high and buy low (spread +0.004% now, against its 7-day average of −0.075%): +$8 on $10k if it goes back. Holding the pair costs −$45 a day in funding at the current rate, which eats that in about 4 hours. At the pace of the last 7 days (−1.303% in total) that is about 10 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ZETAUSDTM	0.05585	−0.1416	get 0.0708% / 4h	3h 51m	$1.1M	$5.4M	20x
Short	Kraken Futures PF_ZETAUSD	0.05585	−0.2916	pay 0.0365% / 1h	51m 00s	$48K	$693K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against KuCoin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 KuCoinbpFee Kraken FuturesbpOrdersPrice spread, now +0.004%Rate

Funding earned: −$315.01
Price spread: +0.004% → −0.075%: $7.93
Slippage, 4 orders: −$306.16
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$635.24
Costs to cover: 3.282%
Break-even: never at this rate

Slippage from KuCoin: live order book, 7 min ago; Kraken Futures: live order book, 22 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 KuCoin live order book, 7 min ago	13.47 bp	76.0 bp −$76	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 22 min ago	45.01 bp	72.5 bp −$73	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	−0.2916%	1h	0.05585	+0.004%	$48K	$693K	10x
MEXC ZETA_USDT	−0.1700%	4h	0.05583	−0.036%	$1.2M	$12.0M	50x	as long as short
Binance ZETAUSDT	−0.1693%	4h	0.05575	−0.179%	$7.4M	$320.9M	50x	as long as short
BloFin ZETA-USDT	−0.1643%	4h	0.05584	−0.018%	$361K	$1.0M	50x	as long as short
BingX ZETA-USDT	−0.1620%	4h	0.05572	−0.233%	—	$7.1M	—	as long as short
KuCoin ZETAUSDTMlong	−0.1416%	4h	0.05585	long leg	$1.1M	$5.4M	20x
OKX ZETA-USDT-SWAP	−0.1377%	4h	0.05570	−0.269%	$1.0M	$46.0M	20x	as long as short
Variational Omni ZETA	−0.1287%	4h	0.05580	−0.096%	$109K	$735K	—	as long as short
Hyperliquid ZETA	−0.0605%	1h	0.05582	−0.054%	$1.6M	$3.9M	3x	as long as short
Gate ZETA_USDT	−0.0346%	4h	0.05584	−0.018%	$550K	$9.9M	25x	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	+15.667%	$1K	$5K	5.5x	as long as short
Bybit ZETAUSDT	+0.0100%	4h	0.05566	−0.340%	$4.8M	$82.8M	25x	as long as short
Bitget ZETAUSDT	+0.0100%	4h	0.05573	−0.215%	$2.0M	$61.1M	50x	as long as short