Funding you earn now, next payment 22:00 UTC+0.0228%/8h= +25.0% APRpaid last 24h −0.170%
Price spread now: Kraken Futures against BloFin+0.058%57s7-day average +0.097% · you sell dearer than you buy
Net, funding: paid 7d − costs−$97as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$1091.087% of the position
Funding, last 7 days+0.120%+$12 on $10k
+Price spread, last 3 days (all we have)−0.144%−$14 · spread now +0.058%, 7d avg +0.097%
=Funding pays, the price is against you. Kraken Futures is 0.038% cheaper against BloFin than usual: you would sell low and buy high (spread +0.058% now, against its 7-day average of +0.097%). If the spread goes back, that is −$4 on $10k: about 13 hours of funding at the current rate (+$7 a day). At the pace of the last 7 days (+0.120% in total) that is about 2.2 days. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.120% in total (about 6.2% 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 | BloFin ZRO-USDT | 1.1868 | 0.0087 | pay 0.0044% / 4h | 2h 14m | $1.1M | $266K | 75x |
| Short | Kraken Futures PF_ZROUSD | 1.1875 | 0.0316 | get 0.0039% / 1h | 14m 03s | $252K | $569K | 25x |
BloFin ZRO-USDT
Kraken Futures PF_ZROUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against BloFin. 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
- $47.94
- Price spread: +0.058% → +0.097%
- −$3.84
- Slippage, 4 orders
- −$86.68
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$64.58
- Costs to cover
- 1.087%
- Break-even
- 16.4 days
Slippage from BloFin: live order book, 3 min ago; Kraken Futures: live order book, 9 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 BloFin live order book, 3 min ago | 1.26 bp | 16.3 bp −$16 | 34.2 bp −$342 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 9 min ago | 25.70 bp | 39.7 bp −$40 | 145.4 bp −$1,454 | 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 | −0.0400% | 1h | 1.1846 | −0.185% | $7K | $3K | 5x | as long as short |
| Orderly PERP_ZRO_USDC | −0.0049% | 4h | 1.1858 | −0.084% | $21K | $7K | 10x | as long as short |
| dYdX ZRO-USD | +0.0045% | 1h | 1.1867 | −0.010% | $21K | $2K | 5x | as long as short |
| BloFin ZRO-USDTlong | +0.0087% | 4h | 1.1868 | long leg | $1.1M | $266K | 75x | |
| Lighter ZRO | +0.0096% | 1h | 1.1860 | −0.069% | $4.5M | $1.4M | 5x | as long as short |
| Hyperliquid ZRO | +0.0100% | 1h | 1.1866 | −0.017% | $37.7M | $6.7M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1871 | +0.022% | $159K | $160K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1859 | −0.076% | $143K | $193K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1850 | −0.153% | $22.4M | $33.1M | 75x | as long as short |
| Bybit ZROUSDT | +0.0100% | 4h | 1.1844 | −0.202% | $18.2M | $15.5M | 50x | as long as short |
01 Exchange ZROUSD
Orderly PERP_ZRO_USDC
dYdX ZRO-USD
Lighter ZRO
Hyperliquid ZRO
Aster ZROUSDT
Pacifica ZRO
Binance ZROUSDT
Bybit ZROUSDTShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1842 | −0.219% | $3.2M | $9.0M | 20x | as long as short |
| Gate ZRO_USDT | +0.0100% | 4h | 1.1860 | −0.067% | $1.3M | $2.0M | 75x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1852 | −0.135% | $19.1M | $3.5M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1870 | +0.017% | $3.0M | $1.8M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1862 | −0.051% | $2.7M | $2.5M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1860 | −0.067% | — | $10.9M | — | as long as short |
| Backpack ZRO_USDC_PERP | +0.0100% | 1h | 1.1863 | −0.042% | $95K | $206K | 20x | as long as short |
| Variational Omni ZRO | +0.0100% | 4h | 1.1844 | −0.198% | $2.3M | $861K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1860 | −0.067% | $37K | $681K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1865 | −0.025% | $88K | $921K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1857 | −0.095% | $21K | — | 3x | as long as short |
| Nado ZRO-PERP | +0.0158% | 1h | 1.1855 | −0.107% | $1.3M | $131K | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0292% / S −0.2341% | 1h | 1.1869 | +0.011% | $3K | — | 100x | as long as short |
| Kraken Futures PF_ZROUSDshort | +0.0316% | 1h | 1.1875 | +0.058% | $252K | $569K | 25x | |
| Injective ZRO/USDC PERP | +0.1237% | 1h | 1.1900 | +0.270% | $12K | $175K | 12x | as long as short |
| Extended ZRO-USD | +0.1888% | 1h | 1.1843 | −0.209% | $784K | $556K | 10x | as long as short |
OKX ZRO-USDT-SWAP
Gate ZRO_USDT
MEXC ZRO_USDT
KuCoin ZROUSDTM
Bitget ZROUSDT
BingX ZRO-USDT
Backpack ZRO_USDC_PERP
Variational Omni ZRO
ApeX Omni ZROUSDT
Polymarket Perps ZRO-USD
Aevo ZRO-PERP
Nado ZRO-PERP
GMX ZRO/USD [ETH-USDC]
Injective ZRO/USDC PERP
Extended ZRO-USD