Funding you earn now, next payment 07:00 UTC+0.2737%/8h= +299.7% APRpaid last 24h +0.468%
Price spread now: Kraken Futures against Binance+0.264%7-day average +0.175% · you sell dearer than you buy
Net, funding: paid 7d − costs+$5as in the Funding arb table
Net, price: spread back to 7d avg − costs−$131as in the Price arb table
costs, in and out, $10k−$1401.403% of the position
Funding, last 7 days+1.449%+$145 on $10k
+Price spread, last 4 days (all we have)−0.179%−$18 · spread now +0.264%, 7d avg +0.175%
=Both sides work for this trade now. Funding pays +$82 a day on $10k at the current rate, and Kraken Futures is 0.088% dearer against Binance than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.175%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 1.449% in total (about 75.5% 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 | Binance ZENUSDT | 7.7503 | 0.0100 | pay 0.0100% / 8h | 1h 24m | $11.2M | $30.1M | 75x |
| Short | Kraken Futures PF_ZENUSD | 7.7708 | 0.2837 | get 0.0355% / 1h | 24m 54s | $497K | $1.0M | 25x |
Binance ZENUSDT
Kraken Futures PF_ZENUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Binance. 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
- $574.83
- Price spread: +0.264% → +0.175%
- $8.85
- Slippage, 4 orders
- −$120.29
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $443.38
- Costs to cover
- 1.403%
- Break-even
- 1.6 days
Slippage from Binance: live order book, 2 min ago; Kraken Futures: 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 Binance live order book, 2 min ago | 0.64 bp | 13.6 bp −$14 | 32.8 bp −$328 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 3 min ago | 34.29 bp | 39.4 bp −$39 | 122.9 bp −$1,229 | doesn't fit | doesn't fit |
ZEN on 17 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX ZEN-USD | 0.0000% | 1h | 7.7378 | −0.161% | $9K | — | 5x | as long as short |
| KuCoin ZENUSDTM | +0.0055% | 8h | 7.7520 | +0.022% | $4.1M | $4.0M | 50x | as long as short |
| OKX ZEN-USDT-SWAP | +0.0087% | 4h | 7.7540 | +0.047% | $2.3M | $5.4M | 50x | as long as short |
| Hyperliquid ZEN | +0.0100% | 1h | 7.7642 | +0.179% | $2.4M | $1.3M | 5x | as long as short |
| Aster ZENUSDT | +0.0100% | 8h | 7.7519 | +0.020% | $44K | $393K | 10x | as long as short |
| Binance ZENUSDTlong | +0.0100% | 8h | 7.7503 | long leg | $11.2M | $30.1M | 75x | |
| Bybit ZENUSDT | +0.0100% | 8h | 7.7480 | −0.030% | $4.5M | $5.6M | 75x | as long as short |
| MEXC ZEN_USDT | +0.0100% | 8h | 7.7480 | −0.030% | $12.4M | $5.0M | 200x | as long as short |
| Bitget ZENUSDT | +0.0100% | 8h | 7.7460 | −0.056% | $2.9M | $3.1M | 50x | as long as short |
| BingX ZEN-USDT | +0.0100% | 8h | 7.7480 | −0.030% | — | $3.1M | — | as long as short |
dYdX ZEN-USD
KuCoin ZENUSDTM
OKX ZEN-USDT-SWAP
Hyperliquid ZEN
Aster ZENUSDT
Bybit ZENUSDT
MEXC ZEN_USDT
Bitget ZENUSDT
BingX ZEN-USDTShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni ZEN | +0.0100% | 8h | 7.7481 | −0.028% | $55K | $79K | — | as long as short |
| GRVT ZEN_USDT_Perp | +0.0100% | 8h | 7.7236 | −0.345% | $575K | $2.6M | 10x | as long as short |
| ApeX Omni ZENUSDT | +0.0100% | 1h | 7.7310 | −0.249% | $27K | $673K | 50x | as long as short |
| SunX ZEN-USDT | +0.0100% | 8h | 7.7600 | +0.125% | $2K | $1.3M | 20x | as long as short |
| Extended ZEN-USD | +0.0104% | 1h | 7.7500 | −0.004% | $22K | $133K | 5x | as long as short |
| BloFin ZEN-USDT | +0.0220% | 8h | 7.7530 | +0.034% | $839K | $1.6M | 75x | as long as short |
| Kraken Futures PF_ZENUSDshort | +0.2837% | 1h | 7.7708 | +0.264% | $497K | $1.0M | 25x |
Variational Omni ZEN
GRVT ZEN_USDT_Perp
ApeX Omni ZENUSDT
SunX ZEN-USDT
Extended ZEN-USD
BloFin ZEN-USDT