Funding you earn now, next payment 08:00 UTC−0.2020%/8h= −221.2% APRpaid last 24h −0.443%
Price spread now: BloFin against Kraken Futures−0.152%57s7-day average −0.219% · you buy dearer than you sell
Net, funding: paid 7d − costs−$241as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$1181.184% of the position
Funding, last 7 days−1.225%−$123 on $10k
+Price spread, last 4 days (all we have)+0.038%+$4 · spread now −0.152%, 7d avg −0.219%
=The price spread pays, funding is against you. BloFin is 0.067% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.152% now, against its 7-day average of −0.219%): +$7 on $10k if it goes back. Holding the pair costs −$61 a day in funding at the current rate, which eats that in about 3 hours. At the pace of the last 7 days (−1.225% in total) that is about 9 hours. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -1.225% in total (about -63.9% 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 | 7.7087 | 0.2240 | pay 0.0280% / 1h | 55m 38s | $493K | $874K | 25x |
| Short | BloFin ZEN-USDT | 7.6970 | 0.0220 | get 0.0220% / 8h | 55m 38s | $837K | $1.6M | 75x |
Kraken Futures PF_ZENUSD
BloFin ZEN-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin 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
- −$424.29
- Price spread: −0.152% → −0.219%
- $6.73
- Slippage, 4 orders
- −$96.35
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$535.91
- Costs to cover
- 1.184%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 18 min ago; BloFin: 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, 18 min ago | 10.97 bp | 69.8 bp −$70 | 119.4 bp −$1,194 | doesn't fit | doesn't fit |
| Sell BloFin live order book, 2 min ago | 1.95 bp | 9.2 bp −$9 | 20.8 bp −$208 | 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 | |
|---|---|---|---|---|---|---|---|---|
| KuCoin ZENUSDTM | −0.0005% | 8h | 7.6960 | −0.165% | $4.1M | $4.0M | 50x | as long as short |
| dYdX ZEN-USD | 0.0000% | 1h | 7.7006 | −0.105% | $9K | — | 5x | as long as short |
| ApeX Omni ZENUSDT | +0.0097% | 1h | 7.7030 | −0.074% | $27K | $670K | 50x | as long as short |
| OKX ZEN-USDT-SWAP | +0.0097% | 4h | 7.7000 | −0.113% | $2.3M | $5.3M | 50x | as long as short |
| Hyperliquid ZEN | +0.0100% | 1h | 7.7117 | +0.039% | $2.4M | $1.3M | 5x | as long as short |
| Aster ZENUSDT | +0.0100% | 8h | 7.7082 | −0.007% | $43K | $391K | 10x | as long as short |
| Binance ZENUSDT | +0.0100% | 8h | 7.7060 | −0.035% | $11.1M | $29.6M | 75x | as long as short |
| Bybit ZENUSDT | +0.0100% | 8h | 7.7010 | −0.100% | $4.5M | $5.6M | 75x | as long as short |
| MEXC ZEN_USDT | +0.0100% | 8h | 7.7000 | −0.113% | $12.2M | $4.9M | 200x | as long as short |
| Bitget ZENUSDT | +0.0100% | 8h | 7.6950 | −0.178% | $2.8M | $3.0M | 50x | as long as short |
KuCoin ZENUSDTM
dYdX ZEN-USD
ApeX Omni ZENUSDT
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 | |
|---|---|---|---|---|---|---|---|---|
| BingX ZEN-USDT | +0.0100% | 8h | 7.7020 | −0.087% | — | $3.0M | — | as long as short |
| Variational Omni ZEN | +0.0100% | 8h | 7.6861 | −0.294% | $54K | $69K | — | as long as short |
| GRVT ZEN_USDT_Perp | +0.0100% | 8h | 7.6904 | −0.238% | $574K | $2.7M | 10x | as long as short |
| SunX ZEN-USDT | +0.0100% | 8h | 7.6920 | −0.217% | $2K | $1.3M | 20x | as long as short |
| Extended ZEN-USD | +0.0104% | 1h | 7.6997 | −0.117% | $22K | $153K | 5x | as long as short |
| BloFin ZEN-USDTshort | +0.0220% | 8h | 7.6970 | −0.152% | $837K | $1.6M | 75x | |
| Kraken Futures PF_ZENUSDlong | +0.2240% | 1h | 7.7087 | long leg | $493K | $874K | 25x |
BingX ZEN-USDT
Variational Omni ZEN
GRVT ZEN_USDT_Perp
SunX ZEN-USDT
Extended ZEN-USD