Funding you earn now, next payment 07:00 UTC−0.2749%/8h= −301.0% APRpaid last 24h −0.457%
Price spread now: BingX against Kraken Futures−0.153%7-day average −0.206% · you buy dearer than you sell
Net, funding: paid 7d − costs−$282as in the Funding arb table
Net, price: spread back to 7d avg − costs−$138as in the Price arb table
costs, in and out, $10k−$1431.432% of the position
Funding, last 7 days−1.390%−$139 on $10k
+Price spread, last 4 days (all we have)+0.032%+$3 · spread now −0.153%, 7d avg −0.206%
=The price spread pays, funding is against you. BingX is 0.053% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.153% now, against its 7-day average of −0.206%): +$5 on $10k if it goes back. Holding the pair costs −$82 a day in funding at the current rate, which eats that in about 2 hours. At the pace of the last 7 days (−1.390% in total) that is about 6 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -1.390% in total (about -72.5% 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 | Kraken Futures PF_ZENUSD | 7.7388 | 0.2849 | pay 0.0356% / 1h | 27m 59s | $495K | $1.0M | 25x |
| Short | BingX ZEN-USDT | 7.7270 | 0.0100 | get 0.0100% / 8h | 1h 27m | — | $3.1M | — |
Kraken Futures PF_ZENUSD
BingX ZEN-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$577.29
- Price spread: −0.153% → −0.206%
- $5.33
- Slippage, 4 orders
- −$123.2
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$715.16
- Costs to cover
- 1.432%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, just now; BingX: live order book, 2 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, just now | 34.29 bp | 74.2 bp −$74 | 232.9 bp −$2,329 | doesn't fit | doesn't fit |
| Sell BingX live order book, 2 min ago | 3.23 bp | 15.8 bp −$16 | 41.6 bp −$416 | 177.3 bp −$17.7K | 398.1 bp −$199.1K |
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 | 7.7389 | +0.001% | $9K | — | 5x | as long as short |
| KuCoin ZENUSDTM | +0.0053% | 8h | 7.7230 | −0.205% | $4.1M | $4.0M | 50x | as long as short |
| OKX ZEN-USDT-SWAP | +0.0076% | 4h | 7.7230 | −0.205% | $2.3M | $5.4M | 50x | as long as short |
| Hyperliquid ZEN | +0.0100% | 1h | 7.7402 | +0.018% | $2.4M | $1.3M | 5x | as long as short |
| Aster ZENUSDT | +0.0100% | 8h | 7.7305 | −0.107% | $44K | $393K | 10x | as long as short |
| Binance ZENUSDT | +0.0100% | 8h | 7.7282 | −0.138% | $11.1M | $30.1M | 75x | as long as short |
| Bybit ZENUSDT | +0.0100% | 8h | 7.7220 | −0.218% | $4.5M | $5.6M | 75x | as long as short |
| MEXC ZEN_USDT | +0.0100% | 8h | 7.7240 | −0.192% | $12.3M | $5.0M | 200x | as long as short |
| Bitget ZENUSDT | +0.0100% | 8h | 7.7220 | −0.218% | $2.9M | $3.1M | 50x | as long as short |
| BingX ZEN-USDTshort | +0.0100% | 8h | 7.7270 | −0.153% | — | $3.1M | — |
dYdX ZEN-USD
KuCoin ZENUSDTM
OKX ZEN-USDT-SWAP
Hyperliquid ZEN
Aster ZENUSDT
Binance ZENUSDT
Bybit ZENUSDT
MEXC ZEN_USDT
Bitget ZENUSDTShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni ZEN | +0.0100% | 8h | 7.7171 | −0.280% | $55K | $83K | — | as long as short |
| GRVT ZEN_USDT_Perp | +0.0100% | 8h | 7.7340 | −0.062% | $579K | $2.6M | 10x | as long as short |
| ApeX Omni ZENUSDT | +0.0100% | 1h | 7.7180 | −0.269% | $27K | $674K | 50x | as long as short |
| SunX ZEN-USDT | +0.0100% | 8h | 7.7200 | −0.243% | $2K | $1.3M | 20x | as long as short |
| Extended ZEN-USD | +0.0104% | 1h | 7.7171 | −0.281% | $22K | $133K | 5x | as long as short |
| BloFin ZEN-USDT | +0.0220% | 8h | 7.7330 | −0.075% | $839K | $1.6M | 75x | as long as short |
| Kraken Futures PF_ZENUSDlong | +0.2849% | 1h | 7.7388 | long leg | $495K | $1.0M | 25x |
Variational Omni ZEN
GRVT ZEN_USDT_Perp
ApeX Omni ZENUSDT
SunX ZEN-USDT
Extended ZEN-USD
BloFin ZEN-USDT