Funding you earn now, next payment 00:00 UTC+0.2537%/8h= +277.9% APRpaid last 24h +0.316%
Price spread now: Kraken Futures against Bitget+0.457%7-day average +0.191% · 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−$95as in the Price arb table
costs, in and out, $10k−$1211.212% of the position
Funding, last 7 days+1.165%+$117 on $10k
+Price spread, last 3 days (all we have)−0.353%−$35 · spread now +0.457%, 7d avg +0.191%
=Both sides work for this trade now. Funding pays +$76 a day on $10k at the current rate, and Kraken Futures is 0.266% dearer against Bitget than usual: you sell high and buy low: +$27 more if the spread goes back to its 7-day average of +0.191%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 1.165% in total (about 60.8% 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 | Bitget ZENUSDT | 7.7800 | 0.0100 | pay 0.0100% / 8h | 20m 08s | $2.9M | $3.5M | 50x |
| Short | Kraken Futures PF_ZENUSD | 7.8156 | 0.2637 | get 0.0330% / 1h | 20m 08s | $511K | $1.0M | 25x |
Bitget ZENUSDT
Kraken Futures PF_ZENUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Bitget. 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
- $532.87
- Price spread: +0.457% → +0.191%
- $26.61
- Slippage, 4 orders
- −$99.17
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $438.31
- Costs to cover
- 1.212%
- Break-even
- 1.2 days
Slippage from Bitget: live order book, 3 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 Bitget live order book, 3 min ago | 2.57 bp | 9.3 bp −$9 | 27.8 bp −$278 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 3 min ago | 14.12 bp | 39.4 bp −$39 | 125.8 bp −$1,258 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni ZEN | −0.0050% | 8h | 7.7750 | −0.065% | $52K | $85K | — | as long as short |
| dYdX ZEN-USD | 0.0000% | 1h | 7.7825 | +0.032% | $9K | — | 5x | as long as short |
| OKX ZEN-USDT-SWAP | +0.0007% | 4h | 7.7720 | −0.103% | $2.3M | $5.8M | 50x | as long as short |
| KuCoin ZENUSDTM | +0.0024% | 8h | 7.7820 | +0.026% | $4.5M | $4.9M | 50x | as long as short |
| Bybit ZENUSDT | +0.0041% | 8h | 7.7790 | −0.013% | $4.7M | $6.3M | 75x | as long as short |
| MEXC ZEN_USDT | +0.0070% | 8h | 7.7800 | 0.000% | $12.6M | $5.5M | 200x | as long as short |
| Binance ZENUSDT | +0.0071% | 8h | 7.7818 | +0.023% | $11.3M | $31.5M | 75x | as long as short |
| Extended ZEN-USD | +0.0072% | 1h | 7.7809 | +0.011% | $25K | $118K | 5x | as long as short |
| Aster ZENUSDT | +0.0100% | 8h | 7.7850 | +0.064% | $53K | $375K | 10x | as long as short |
| Bitget ZENUSDTlong | +0.0100% | 8h | 7.7800 | long leg | $2.9M | $3.5M | 50x |
Variational Omni ZEN
dYdX ZEN-USD
OKX ZEN-USDT-SWAP
KuCoin ZENUSDTM
Bybit ZENUSDT
MEXC ZEN_USDT
Binance ZENUSDT
Extended ZEN-USD
Aster ZENUSDTShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX ZEN-USDT | +0.0100% | 8h | 7.7810 | +0.013% | — | $3.4M | — | as long as short |
| GRVT ZEN_USDT_Perp | +0.0100% | 8h | 7.7720 | −0.103% | $580K | $1.7M | 10x | as long as short |
| ApeX Omni ZENUSDT | +0.0100% | 1h | 7.7600 | −0.257% | $27K | $683K | 50x | as long as short |
| SunX ZEN-USDT | +0.0100% | 8h | 7.7790 | −0.013% | $1K | $1.4M | 20x | as long as short |
| BloFin ZEN-USDT | +0.0191% | 8h | 7.7710 | −0.116% | $847K | $1.8M | 75x | as long as short |
| Hyperliquid ZEN | +0.0444% | 1h | 7.7975 | +0.225% | $2.5M | $1.8M | 5x | as long as short |
| Kraken Futures PF_ZENUSDshort | +0.2637% | 1h | 7.8156 | +0.457% | $511K | $1.0M | 25x |
BingX ZEN-USDT
GRVT ZEN_USDT_Perp
ApeX Omni ZENUSDT
SunX ZEN-USDT
BloFin ZEN-USDT
Hyperliquid ZEN