Funding arb · Price arb /

XTZ

all XTZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0362%/8h= +39.6% APRpaid last 24h +0.039%

Price spread now: MEXC against Kraken Futures−0.180%7-day average −0.184% · you buy dearer than you sell

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$530.533% of the position

Long on Kraken Futures Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.001%$0 on $10k

Price spread, last 4 days (all we have)−0.057%−$6 · spread now −0.180%, 7d avg −0.184%

Together, before fees−0.059%−$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.184%, so right now this pair is about funding alone: +$11 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.001% in total (about -0.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XTZUSD	0.3354	−0.0262	get 0.0033% / 1h	44m 07s	$271K	$257K	50x
Short	MEXC XTZ_USDT	0.3348	0.0100	get 0.0050% / 4h	44m 07s	$2.0M	$727K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.180%Rate

Funding earned: $76
Price spread: −0.180% → −0.184%: $0.39
Slippage, 4 orders: −$39.3
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: $23.09
Costs to cover: 0.533%
Break-even: 4.9 days

Slippage from Kraken Futures: live order book, 62 min ago; MEXC: live order book, 1 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, 62 min ago	5.91 bp	25.3 bp −$25	89.2 bp −$892	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	2.99 bp	5.0 bp −$5	27.8 bp −$278	127.2 bp −$12.7K	doesn't fit

XTZ on 12 exchanges

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
Bybit XTZUSDT	−0.0306%	4h	0.3349	−0.151%	$2.6M	$2.2M	75x	as long as short
Kraken Futures PF_XTZUSDlong	−0.0262%	1h	0.3354	long leg	$271K	$257K	50x
Variational Omni XTZ	−0.0098%	4h	0.3342	−0.355%	$101K	$272K	—	as long as short
Bitget XTZUSDT	−0.0018%	4h	0.3347	−0.210%	$917K	$704K	75x	as long as short
Injective XTZ/USDC PERP	+0.0033%	1h	0.3484	+3.874%	$62	$17K	5.5x	as long as short
Binance XTZUSDT	+0.0100%	4h	0.3348	−0.180%	$4.7M	$7.9M	75x	as long as short
OKX XTZ-USDT-SWAP	+0.0100%	8h	0.3347	−0.210%	$1.2M	$1.1M	20x	as long as short
Gate XTZ_USDT	+0.0100%	8h	0.3349	−0.151%	$605K	$124K	75x	as long as short
MEXC XTZ_USDTshort	+0.0100%	4h	0.3348	−0.180%	$2.0M	$727K	100x
KuCoin XTZUSDTM	+0.0100%	4h	0.3348	−0.180%	$603K	$166K	30x	as long as short

Show all 12 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX XTZ-USDT	+0.0100%	4h	0.3350	−0.121%	—	$1.1M	—	as long as short
BloFin XTZ-USDT	+0.0107%	4h	0.3344	−0.300%	$284K	$94K	75x	as long as short