Funding you earn now, next payment 10:00 UTC−0.4495%/8h= −492.2% APRpaid last 24h −0.627%
Price spread now: OKX against Kraken Futures−0.170%7-day average −0.277% · you buy dearer than you sell
Net, funding: paid 7d − costs−$8,041as in the Funding arb table
Net, price: spread back to 7d avg − costs−$7,855as in the Price arb table
costs, in and out, $10k−$7,86578.652% of the position
Funding, last 7 days−1.754%−$175 on $10k
+Price spread, last 4 days (all we have)−0.119%−$12 · spread now −0.170%, 7d avg −0.277%
=The price spread pays, funding is against you. OKX is 0.107% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.170% now, against its 7-day average of −0.277%): +$11 on $10k if it goes back. Holding the pair costs −$135 a day in funding at the current rate, which eats that in about 2 hours. At the pace of the last 7 days (−1.754% in total) that is about 10 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -1.754% in total (about -91.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_ZKUSD | 0.01189 | 0.4595 | pay 0.0574% / 1h | 18m 10s | $207K | $45K | 25x |
| Short | OKX ZK-USDT-SWAP | 0.01187 | 0.0100 | get 0.0050% / 4h | 2h 18m | $993K | $2.2M | 20x |
Kraken Futures PF_ZKUSD
OKX ZK-USDT-SWAPFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$943.96
- Price spread: −0.170% → −0.277%
- $10.72
- Slippage, 4 orders
- −$7,845.23
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$8,798.47
- Costs to cover
- 78.652%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 32 min ago; OKX: live order book, 2 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, 32 min ago | 32.38 bp | 7762.9 bp −$7,763 | 40528.5 bp −$405.3K | doesn't fit | doesn't fit |
| Sell OKX live order book, 2 min ago | 3.79 bp | 27.0 bp −$27 | doesn't fit | doesn't fit | doesn't fit |
ZK on 17 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective ZK/USDC PERP | +0.0033% | 1h | 0.01170 | −1.600% | $2K | $31K | 5.5x | as long as short |
| BloFin ZK-USDT | +0.0083% | 4h | 0.01187 | −0.153% | $212K | $26K | 75x | as long as short |
| Lighter ZK | +0.0096% | 1h | 0.01189 | +0.040% | $126K | $180K | 8x | as long as short |
| Hyperliquid ZK | +0.0100% | 1h | 0.01188 | −0.044% | $589K | $170K | 5x | as long as short |
| Aster ZKUSDT | +0.0100% | 4h | 0.01189 | +0.003% | $33K | $20K | 10x | as long as short |
| Pacifica ZK | +0.0100% | 1h | 0.01188 | −0.086% | $29K | $2K | 5x | as long as short |
| Binance ZKUSDT | +0.0100% | 4h | 0.01188 | −0.099% | $4.9M | $7.9M | 75x | as long as short |
| Bybit ZKUSDT | +0.0100% | 4h | 0.01188 | −0.119% | $5.1M | $2.6M | 25x | as long as short |
| OKX ZK-USDT-SWAPshort | +0.0100% | 4h | 0.01187 | −0.170% | $993K | $2.2M | 20x | |
| Gate ZK_USDT | +0.0100% | 8h | 0.01187 | −0.170% | $299K | $269K | 50x | as long as short |
Injective ZK/USDC PERP
BloFin ZK-USDT
Lighter ZK
Hyperliquid ZK
Aster ZKUSDT
Pacifica ZK
Binance ZKUSDT
Bybit ZKUSDT
Gate ZK_USDTShow all 17 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin ZKUSDTM | +0.0100% | 4h | 0.01188 | −0.086% | $961K | $1.7M | 50x | as long as short |
| Bitget ZKUSDT | +0.0100% | 4h | 0.01189 | −0.002% | $1.5M | $894K | 75x | as long as short |
| BingX ZK-USDT | +0.0100% | 4h | 0.01188 | −0.094% | — | $6.6M | — | as long as short |
| Variational Omni ZK | +0.0100% | 4h | 0.01189 | −0.022% | $57K | $6K | — | as long as short |
| GRVT ZK_USDT_Perp | +0.0100% | 4h | 0.01190 | +0.057% | $162K | $2.0M | 10x | as long as short |
| ApeX Omni ZKUSDT | +0.0100% | 1h | 0.01190 | +0.082% | $8K | $635K | 50x | as long as short |
| Kraken Futures PF_ZKUSDlong | +0.4595% | 1h | 0.01189 | long leg | $207K | $45K | 25x |
KuCoin ZKUSDTM
Bitget ZKUSDT
BingX ZK-USDT
Variational Omni ZK
GRVT ZK_USDT_Perp
ApeX Omni ZKUSDT