Funding you earn now, next payment 04:00 UTC+0.0284%/8h= +31.1% APRpaid last 24h −0.091%
Price spread now: Kraken Futures against Binance+0.032%7-day average +0.095% · you sell dearer than you buy
Net, funding: paid 7d − costs−$114as in the Funding arb table
Net, price: spread back to 7d avg − costs−$137as in the Price arb table
costs, in and out, $10k−$1311.308% of the position
Funding, last 7 days+0.171%+$17 on $10k
+Price spread, last 4 days (all we have)−0.456%−$46 · spread now +0.032%, 7d avg +0.095%
=Funding pays, the price is against you. Kraken Futures is 0.063% cheaper against Binance than usual: you would sell low and buy high (spread +0.032% now, against its 7-day average of +0.095%). If the spread goes back, that is −$6 on $10k: about 18 hours of funding at the current rate (+$9 a day). At the pace of the last 7 days (+0.171% in total) that is about 2.6 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.171% in total (about 8.9% 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 | Binance ZROUSDT | 1.1577 | 0.0100 | pay 0.0050% / 4h | 47m 06s | $21.6M | $29.8M | 75x |
| Short | Kraken Futures PF_ZROUSD | 1.1581 | 0.0384 | get 0.0048% / 1h | 47m 06s | $255K | $404K | 25x |
Binance ZROUSDT
Kraken Futures PF_ZROUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Binance. 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
- $59.71
- Price spread: +0.032% → +0.095%
- −$6.33
- Slippage, 4 orders
- −$110.79
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$77.41
- Costs to cover
- 1.308%
- Break-even
- 16.1 days
Slippage from Binance: live order book, 9 min ago; Kraken Futures: live order book, 11 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 Binance live order book, 9 min ago | 0.43 bp | 13.8 bp −$14 | 31.2 bp −$312 | 280.4 bp −$28.0K | doesn't fit |
| Sell Kraken Futures live order book, 11 min ago | 38.25 bp | 44.0 bp −$44 | 148.2 bp −$1,482 | doesn't fit | doesn't fit |
ZRO on 26 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 | |
|---|---|---|---|---|---|---|---|---|
| 01 Exchange ZROUSD | −0.0064% | 1h | 1.1590 | +0.115% | $7K | $3K | 5x | as long as short |
| dYdX ZRO-USD | +0.0004% | 1h | 1.1575 | −0.015% | $21K | $4K | 5x | as long as short |
| Orderly PERP_ZRO_USDC | +0.0037% | 4h | 1.1571 | −0.053% | $20K | $5K | 10x | as long as short |
| Backpack ZRO_USDC_PERP | +0.0039% | 1h | 1.1580 | +0.025% | $97K | $196K | 20x | as long as short |
| Lighter ZRO | +0.0096% | 1h | 1.1591 | +0.119% | $4.3M | $1.2M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1576 | −0.011% | $156K | $150K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1581 | +0.034% | $134K | $178K | 5x | as long as short |
| Binance ZROUSDTlong | +0.0100% | 4h | 1.1577 | long leg | $21.6M | $29.8M | 75x | |
| Bybit ZROUSDT | +0.0100% | 4h | 1.1569 | −0.070% | $17.6M | $13.9M | 50x | as long as short |
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1579 | +0.016% | $3.1M | $7.8M | 20x | as long as short |
01 Exchange ZROUSD
dYdX ZRO-USD
Orderly PERP_ZRO_USDC
Backpack ZRO_USDC_PERP
Lighter ZRO
Aster ZROUSDT
Pacifica ZRO
Bybit ZROUSDT
OKX ZRO-USDT-SWAPShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate ZRO_USDT | +0.0100% | 4h | 1.1570 | −0.061% | $1.3M | $1.5M | 75x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1571 | −0.053% | $19.0M | $2.7M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1568 | −0.079% | $2.4M | $2.0M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1567 | −0.087% | $2.6M | $2.6M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1574 | −0.027% | — | $16.4M | — | as long as short |
| Variational Omni ZRO | +0.0100% | 4h | 1.1590 | +0.111% | $2.2M | $810K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1580 | +0.025% | $39K | $673K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1589 | +0.103% | $97K | $844K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1567 | −0.088% | $20K | — | 3x | as long as short |
| BloFin ZRO-USDT | +0.0146% | 4h | 1.1569 | −0.070% | $1.1M | $246K | 75x | as long as short |
| Nado ZRO-PERP | +0.0228% | 1h | 1.1586 | +0.074% | $1.3M | $125K | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0291% / S −0.2341% | 1h | 1.1574 | −0.031% | $3K | — | 100x | as long as short |
| Kraken Futures PF_ZROUSDshort | +0.0384% | 1h | 1.1581 | +0.032% | $255K | $404K | 25x | |
| Hyperliquid ZRO | +0.0491% | 1h | 1.1594 | +0.143% | $36.7M | $5.4M | 5x | as long as short |
| Extended ZRO-USD | +0.1112% | 1h | 1.1569 | −0.074% | $776K | $590K | 10x | as long as short |
| Injective ZRO/USDC PERP | +0.1186% | 1h | 1.1630 | +0.457% | $12K | $260K | 12x | as long as short |
Gate ZRO_USDT
MEXC ZRO_USDT
KuCoin ZROUSDTM
Bitget ZROUSDT
BingX ZRO-USDT
Variational Omni ZRO
ApeX Omni ZROUSDT
Polymarket Perps ZRO-USD
Aevo ZRO-PERP
BloFin ZRO-USDT
Nado ZRO-PERP
GMX ZRO/USD [ETH-USDC]
Hyperliquid ZRO
Extended ZRO-USD
Injective ZRO/USDC PERP