Funding arb · Price arb /

XTZ

all XTZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0454%/8h= +49.7% APRpaid last 24h +0.082%

Price spread now: KuCoin against Kraken Futures−0.091%7-day average −0.146% · you buy dearer than you sell

Net, funding: paid 7d − costs−$159as in the Funding arb table

Net, price: spread back to 7d avg − costs−$181as in the Price arb table

costs, in and out, $10k−$1861.861% of the position

Long on Kraken Futures Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.269%+$27 on $10k

Price spread, last 4 days (all we have)−0.130%−$13 · spread now −0.091%, 7d avg −0.146%

Together, before fees+0.139%+$14 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and KuCoin is 0.055% dearer against Kraken Futures than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.146%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.269% in total (about 14.0% 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	0.3358	−0.0354	get 0.0044% / 1h	34m 38s	$278K	$274K	50x
Short	KuCoin XTZUSDTM	0.3355	0.0100	get 0.0050% / 4h	34m 38s	$618K	$191K	30x

Funding 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 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 KuCoinbpOrdersPrice spread, now −0.091%Rate

Funding earned: $95.39
Price spread: −0.091% → −0.146%: $5.51
Slippage, 4 orders: −$164.11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$85.21
Costs to cover: 1.861%
Break-even: 13.3 days

Slippage from Kraken Futures: live order book, 3 min ago; KuCoin: live order book, 10 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, 3 min ago	5.95 bp	24.4 bp −$24	87.7 bp −$877	doesn't fit	doesn't fit
Sell KuCoin live order book, 10 min ago	4.46 bp	75.5 bp −$75	585.4 bp −$5,854	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	−0.0354%	1h	0.3358	long leg	$278K	$274K	50x
Bybit XTZUSDT	−0.0185%	4h	0.3355	−0.091%	$2.7M	$2.6M	75x	as long as short
Bitget XTZUSDT	−0.0184%	4h	0.3355	−0.091%	$909K	$864K	75x	as long as short
Variational Omni XTZ	−0.0147%	4h	0.3353	−0.155%	$101K	$298K	—	as long as short
Injective XTZ/USDC PERP	+0.0033%	1h	0.3484	+3.751%	$62	$17K	5.5x	as long as short
MEXC XTZ_USDT	+0.0096%	4h	0.3352	−0.180%	$2.1M	$704K	100x	as long as short
Binance XTZUSDT	+0.0098%	4h	0.3354	−0.121%	$4.6M	$9.5M	75x	as long as short
OKX XTZ-USDT-SWAP	+0.0100%	8h	0.3354	−0.121%	$1.2M	$1.3M	20x	as long as short
Gate XTZ_USDT	+0.0100%	8h	0.3354	−0.121%	$616K	$164K	75x	as long as short
KuCoin XTZUSDTMshort	+0.0100%	4h	0.3355	−0.091%	$618K	$191K	30x

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX XTZ-USDT	+0.0100%	4h	0.3352	−0.180%	—	$1.1M	—	as long as short
BloFin XTZ-USDT	+0.0139%	4h	0.3357	−0.031%	$276K	$95K	75x	as long as short