Funding arb · Price arb /

XTZ

all XTZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0672%/8h= +73.5% APRpaid last 24h +0.070%

Price spread now: Gate against Kraken Futures+0.129%7-day average −0.120% · you sell dearer than you buy

Net, funding: paid 7d − costs−$176as in the Funding arb table

Net, price: spread back to 7d avg − costs−$153as in the Price arb table

costs, in and out, $10k−$1781.777% of the position

Long on Kraken Futures Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.021%+$2 on $10k

Price spread, last 4 days (all we have)−0.461%−$46 · spread now +0.129%, 7d avg −0.120%

Together, before fees−0.440%−$44 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$20 a day on $10k at the current rate, and Gate is 0.250% dearer against Kraken Futures than usual: you sell high and buy low: +$25 more if the spread goes back to its 7-day average of −0.120%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.021% in total (about 1.1% 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_XTZUSD	0.3421	−0.0572	get 0.0071% / 1h	5m 46s	$282K	$251K	50x
Short	Gate XTZ_USDT	0.3425	0.0100	get 0.0100% / 8h	5h 05m	$635K	$171K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 it

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 Kraken FuturesbpFee GatebpOrdersPrice spread, now +0.129%Rate

Funding earned: $141.03
Price spread: +0.129% → −0.120%: $24.96
Slippage, 4 orders: −$152.73
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$11.75
Costs to cover: 1.777%
Break-even: 7.6 days

Slippage from Kraken Futures: live order book, 57 min ago; Gate: live order book, 56 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, 57 min ago	2.94 bp	24.5 bp −$24	97.6 bp −$976	doesn't fit	doesn't fit
Sell Gate live order book, 56 min ago	2.95 bp	64.2 bp −$64	178.7 bp −$1,787	doesn't fit	doesn't fit

XTZ on 12 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
Kraken Futures PF_XTZUSDlong	−0.0572%	1h	0.3421	long leg	$282K	$251K	50x
Injective XTZ/USDC PERP	+0.0033%	1h	0.3484	+1.854%	$62	$17K	5.5x	as long as short
BloFin XTZ-USDT	+0.0079%	4h	0.3424	+0.100%	$283K	$97K	75x	as long as short
Binance XTZUSDT	+0.0100%	4h	0.3413	−0.216%	$4.7M	$9.7M	75x	as long as short
Bybit XTZUSDT	+0.0100%	4h	0.3415	−0.163%	$2.7M	$2.8M	75x	as long as short
OKX XTZ-USDT-SWAP	+0.0100%	8h	0.3412	−0.251%	$1.2M	$1.3M	20x	as long as short
Gate XTZ_USDTshort	+0.0100%	8h	0.3425	+0.129%	$635K	$171K	75x
MEXC XTZ_USDT	+0.0100%	4h	0.3413	−0.221%	$2.1M	$654K	100x	as long as short
KuCoin XTZUSDTM	+0.0100%	4h	0.3417	−0.104%	$630K	$190K	30x	as long as short
Bitget XTZUSDT	+0.0100%	4h	0.3423	+0.071%	$927K	$937K	75x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX XTZ-USDT	+0.0100%	4h	0.3414	−0.192%	—	$1.1M	—	as long as short
Variational Omni XTZ	+0.0100%	4h	0.3411	−0.285%	$86K	$331K	—	as long as short