Funding you earn now, next payment 05:00 UTC−0.0361%/8h= −39.6% APRpaid last 24h +0.075%
Price spread now: KuCoin against Kraken Futures+0.048%7-day average −0.076% · you sell dearer than you buy
Net, funding: paid 7d − costs−$189as in the Funding arb table
Net, price: spread back to 7d avg − costs−$160as in the Price arb table
costs, in and out, $10k−$1731.727% of the position
Funding, last 7 days−0.159%−$16 on $10k
+Price spread, last 4 days (all we have)+0.229%+$23 · spread now +0.048%, 7d avg −0.076%
=The price spread pays, funding is against you. KuCoin is 0.125% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.048% now, against its 7-day average of −0.076%): +$12 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 28 hours. At the pace of the last 7 days (−0.159% in total) that is about 5.5 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.159% in total (about -8.3% 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 | Kraken Futures PF_ZROUSD | 1.1748 | 0.0461 | pay 0.0058% / 1h | 23m 49s | $256K | $384K | 25x |
| Short | KuCoin ZROUSDTM | 1.1754 | 0.0100 | get 0.0050% / 4h | 3h 23m | $2.4M | $2.0M | 50x |
Kraken Futures PF_ZROUSD
KuCoin ZROUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin 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
- −$75.88
- Price spread: +0.048% → −0.076%
- $12.47
- Slippage, 4 orders
- −$150.71
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$236.11
- Costs to cover
- 1.727%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 29 min ago; KuCoin: live order book, 3 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, 29 min ago | 31.31 bp | 54.0 bp −$54 | doesn't fit | doesn't fit | doesn't fit |
| Sell KuCoin live order book, 3 min ago | 7.23 bp | 41.9 bp −$42 | 125.3 bp −$1,253 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_ZRO_USDC | +0.0049% | 4h | 1.1739 | −0.079% | $21K | $5K | 10x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1756 | +0.067% | $159K | $150K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1750 | +0.012% | $137K | $178K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1739 | −0.079% | $22.1M | $29.8M | 75x | as long as short |
| Bybit ZROUSDT | +0.0100% | 4h | 1.1737 | −0.096% | $17.9M | $13.8M | 50x | as long as short |
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1741 | −0.062% | $3.2M | $7.9M | 20x | as long as short |
| Gate ZRO_USDT | +0.0100% | 4h | 1.1740 | −0.071% | $1.3M | $1.5M | 75x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1739 | −0.079% | $19.2M | $2.7M | 125x | as long as short |
| KuCoin ZROUSDTMshort | +0.0100% | 4h | 1.1754 | +0.048% | $2.4M | $2.0M | 50x | |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1738 | −0.088% | $2.7M | $2.6M | 75x | as long as short |
Orderly PERP_ZRO_USDC
Aster ZROUSDT
Pacifica ZRO
Binance ZROUSDT
Bybit ZROUSDT
OKX ZRO-USDT-SWAP
Gate ZRO_USDT
MEXC ZRO_USDT
Bitget ZROUSDTShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX ZRO-USDT | +0.0100% | 4h | 1.1744 | −0.037% | — | $16.4M | — | as long as short |
| Backpack ZRO_USDC_PERP | +0.0100% | 1h | 1.1738 | −0.088% | $97K | $222K | 20x | as long as short |
| Variational Omni ZRO | +0.0100% | 4h | 1.1739 | −0.077% | $2.3M | $809K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1760 | +0.099% | $39K | $676K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1750 | +0.014% | $100K | $850K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1736 | −0.101% | $21K | — | 3x | as long as short |
| dYdX ZRO-USD | +0.0114% | 1h | 1.1754 | +0.047% | $21K | $4K | 5x | as long as short |
| Lighter ZRO | +0.0128% | 1h | 1.1762 | +0.113% | $4.4M | $1.2M | 5x | as long as short |
| BloFin ZRO-USDT | +0.0145% | 4h | 1.1752 | +0.031% | $1.1M | $250K | 75x | as long as short |
| Nado ZRO-PERP | +0.0229% | 1h | 1.1752 | +0.028% | $1.3M | $125K | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0293% / S −0.2341% | 1h | 1.1735 | −0.113% | $3K | — | 100x | as long as short |
| 01 Exchange ZROUSD | +0.0352% | 1h | 1.1761 | +0.105% | $7K | $3K | 5x | as long as short |
| Kraken Futures PF_ZROUSDlong | +0.0461% | 1h | 1.1748 | long leg | $256K | $384K | 25x | |
| Hyperliquid ZRO | +0.0584% | 1h | 1.1756 | +0.065% | $37.3M | $5.5M | 5x | as long as short |
| Extended ZRO-USD | +0.1136% | 1h | 1.1734 | −0.118% | $804K | $625K | 10x | as long as short |
| Injective ZRO/USDC PERP | +0.1363% | 1h | 1.1800 | +0.440% | $12K | $261K | 12x | as long as short |
BingX ZRO-USDT
Backpack ZRO_USDC_PERP
Variational Omni ZRO
ApeX Omni ZROUSDT
Polymarket Perps ZRO-USD
Aevo ZRO-PERP
dYdX ZRO-USD
Lighter ZRO
BloFin ZRO-USDT
Nado ZRO-PERP
GMX ZRO/USD [ETH-USDC]
01 Exchange ZROUSD
Hyperliquid ZRO
Extended ZRO-USD
Injective ZRO/USDC PERP