Funding arb · Price arb /

ZETA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.1573%/8h= −172.2% APRpaid last 24h −0.452%

Price spread now: Kraken Futures against OKX+0.156%7-day average +0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$294as in the Funding arb table

Net, price: spread back to 7d avg − costs−$145as in the Price arb table

costs, in and out, $10k−$1581.581% of the position

Long on OKX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−1.362%−$136 on $10k

Price spread, last 4 days (all we have)+0.356%+$36 · spread now +0.156%, 7d avg +0.021%

Together, before fees−1.006%−$101 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.136% dearer against OKX than usual: you sell high and buy low (spread +0.156% now, against its 7-day average of +0.021%): +$14 on $10k if it goes back. Holding the pair costs −$47 a day in funding at the current rate, which eats that in about 7 hours. At the pace of the last 7 days (−1.362% in total) that is about 17 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ZETA-USDT-SWAP	0.05703	−0.0506	get 0.0253% / 4h	1h 53m	$1.0M	$34.6M	20x
Short	Kraken Futures PF_ZETAUSD	0.05712	−0.2078	pay 0.0260% / 1h	53m 01s	$55K	$529K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against OKX. 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 OKXbpFee Kraken FuturesbpOrdersPrice spread, now +0.156%Rate

Funding earned: −$330.23
Price spread: +0.156% → +0.021%: $13.57
Slippage, 4 orders: −$138.09
Fee OKX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$474.75
Costs to cover: 1.581%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; Kraken Futures: live order book, 58 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 OKX live order book, 4 min ago	3.51 bp	32.6 bp −$33	156.9 bp −$1,569	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 58 min ago	10.43 bp	58.5 bp −$58	doesn't fit	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_ZETAUSDshort	−0.2078%	1h	0.05712	+0.156%	$55K	$529K	10x
Variational Omni ZETA	−0.1545%	4h	0.05692	−0.201%	$122K	$435K	—	as long as short
Bybit ZETAUSDT	−0.0910%	4h	0.05712	+0.158%	$4.6M	$66.5M	25x	as long as short
MEXC ZETA_USDT	−0.0862%	4h	0.05709	+0.105%	$1.3M	$7.9M	50x	as long as short
Binance ZETAUSDT	−0.0856%	4h	0.05712	+0.158%	$7.1M	$246.9M	50x	as long as short
Gate ZETA_USDT	−0.0832%	4h	0.05712	+0.158%	$558K	$6.0M	25x	as long as short
BloFin ZETA-USDT	−0.0818%	4h	0.05705	+0.035%	$340K	$1.1M	50x	as long as short
OKX ZETA-USDT-SWAPlong	−0.0506%	4h	0.05703	long leg	$1.0M	$34.6M	20x
KuCoin ZETAUSDTM	−0.0408%	4h	0.05711	+0.140%	$953K	$3.8M	20x	as long as short
Hyperliquid ZETA	−0.0252%	1h	0.05711	+0.140%	$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
Injective ZETA/USDC PERP	+0.0033%	1h	0.06460	+13.274%	$1K	$1K	5.5x	as long as short
Bitget ZETAUSDT	+0.0100%	4h	0.05712	+0.158%	$2.4M	$49.4M	50x	as long as short
BingX ZETA-USDT	+0.0100%	4h	0.05708	+0.088%	—	$6.7M	—	as long as short