Funding arb · Price arb /

ZETA

all ZETA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0837%/8h= −91.7% APRpaid last 24h −0.237%

Price spread now: Kraken Futures against Bybit−0.157%7-day average +0.040% · you buy dearer than you sell

Net, funding: paid 7d − costs−$304as in the Funding arb table

Net, price: spread back to 7d avg − costs−$184as in the Price arb table

costs, in and out, $10k−$1641.645% of the position

Long on Bybit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−1.397%−$140 on $10k

Price spread, last 3 days (all we have)+0.423%+$42 · spread now −0.157%, 7d avg +0.040%

Together, before fees−0.974%−$97 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$25 a day on $10k at the current rate, and Kraken Futures is 0.196% cheaper against Bybit than usual: you would sell low and buy high (−$20 if the spread goes back to its 7-day average of +0.040%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ZETAUSDT	0.05796	−0.0941	get 0.0470% / 4h	1h 52m	$5.2M	$89.5M	25x
Short	Kraken Futures PF_ZETAUSD	0.05787	−0.1778	pay 0.0222% / 1h	52m 33s	$48K	$719K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bybit. 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 BybitbpFee Kraken FuturesbpOrdersPrice spread, now −0.157%Rate

Funding earned: −$175.85
Price spread: −0.157% → +0.040%: −$19.62
Slippage, 4 orders: −$143.49
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$359.95
Costs to cover: 1.645%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; Kraken Futures: live order book, 11 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 Bybit live order book, 1 min ago	2.59 bp	21.2 bp −$21	85.8 bp −$858	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 11 min ago	36.10 bp	75.5 bp −$75	doesn't fit	doesn't fit	doesn't fit

ZETA on 12 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	−0.2054%	4h	0.05796	0.000%	$1.1M	$5.6M	20x	as long as short
OKX ZETA-USDT-SWAP	−0.1954%	4h	0.05797	+0.017%	$1.1M	$52.0M	20x	as long as short
BingX ZETA-USDT	−0.1884%	4h	0.05794	−0.035%	—	$7.5M	—	as long as short
MEXC ZETA_USDT	−0.1812%	4h	0.05795	−0.017%	$1.1M	$12.3M	50x	as long as short
Binance ZETAUSDT	−0.1811%	4h	0.05793	−0.052%	$8.0M	$346.8M	50x	as long as short
Kraken Futures PF_ZETAUSDshort	−0.1778%	1h	0.05787	−0.157%	$48K	$719K	10x
Gate ZETA_USDT	−0.1744%	4h	0.05793	−0.052%	$589K	$10.6M	25x	as long as short
Variational Omni ZETA	−0.1490%	4h	0.05800	+0.070%	$113K	$758K	—	as long as short
Bybit ZETAUSDTlong	−0.0941%	4h	0.05796	long leg	$5.2M	$89.5M	25x
Hyperliquid ZETA	−0.0773%	1h	0.05792	−0.069%	$1.6M	$4.0M	3x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective ZETA/USDC PERP	+0.0033%	1h	0.06460	+11.456%	$1K	$5K	5.5x	as long as short
Bitget ZETAUSDT	+0.0100%	4h	0.05800	+0.069%	$2.3M	$66.7M	50x	as long as short