Funding arb · Price arb /

ZETA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0127%/8h= −13.9% APRpaid last 24h −0.244%

Price spread now: Kraken Futures against Binance+0.088%7-day average +0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$298as in the Funding arb table

Net, price: spread back to 7d avg − costs−$149as in the Price arb table

costs, in and out, $10k−$1571.571% of the position

Long on Binance Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−1.404%−$140 on $10k

Price spread, last 4 days (all we have)+1.001%+$100 · spread now +0.088%, 7d avg +0.008%

Together, before fees−0.403%−$40 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.080% dearer against Binance than usual: you sell high and buy low (spread +0.088% now, against its 7-day average of +0.008%): +$8 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 2.1 days. At the pace of the last 7 days (−1.404% in total) that is about 10 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ZETAUSDT	0.06322	−0.1499	get 0.0750% / 4h	1h 01m	$9.0M	$361.0M	50x
Short	Kraken Futures PF_ZETAUSD	0.06327	−0.1627	pay 0.0203% / 1h	1m 11s	$49K	$731K	10x

Funding 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 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 BinancebpFee Kraken FuturesbpOrdersPrice spread, now +0.088%Rate

Funding earned: −$26.7
Price spread: +0.088% → +0.008%: $8.02
Slippage, 4 orders: −$137.09
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$175.77
Costs to cover: 1.571%
Break-even: never at this rate

Slippage from Binance: live order book, 12 min ago; Kraken Futures: live order book, 62 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, 12 min ago	0.77 bp	17.1 bp −$17	87.2 bp −$872	392.5 bp −$39.2K	doesn't fit
Sell Kraken Futures live order book, 62 min ago	36.10 bp	75.5 bp −$75	doesn't fit	doesn't fit	doesn't fit

ZETA on 13 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 ZETAUSDTM	−0.1680%	4h	0.06305	−0.263%	$1.1M	$5.8M	20x	as long as short
OKX ZETA-USDT-SWAP	−0.1673%	4h	0.06325	+0.053%	$1.4M	$59.0M	20x	as long as short
Kraken Futures PF_ZETAUSDshort	−0.1627%	1h	0.06327	+0.088%	$49K	$731K	10x
MEXC ZETA_USDT	−0.1520%	4h	0.06324	+0.037%	$1.2M	$12.6M	50x	as long as short
Binance ZETAUSDTlong	−0.1499%	4h	0.06322	long leg	$9.0M	$361.0M	50x
BloFin ZETA-USDT	−0.1471%	4h	0.06314	−0.121%	$431K	$1.4M	50x	as long as short
Variational Omni ZETA	−0.1350%	4h	0.06294	−0.442%	$120K	$767K	—	as long as short
Gate ZETA_USDT	−0.1238%	4h	0.06321	−0.010%	$634K	$11.0M	25x	as long as short
Hyperliquid ZETA	−0.1010%	1h	0.06322	+0.006%	$1.7M	$4.2M	3x	as long as short
Bybit ZETAUSDT	−0.0877%	4h	0.06316	−0.089%	$5.7M	$93.5M	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective ZETA/USDC PERP	+0.0033%	1h	0.06460	+2.189%	$1K	$5K	5.5x	as long as short
Bitget ZETAUSDT	+0.0100%	4h	0.06346	+0.385%	$2.5M	$70.1M	50x	as long as short
BingX ZETA-USDT	+0.0100%	4h	0.06342	+0.322%	—	$7.8M	—	as long as short