Funding arb · Price arb /

ZETA

all ZETA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.2963%/8hpaid last 24h −0.276%

Price spread now: Kraken Futures against Gate−0.210%7-day average +0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$367as in the Funding arb table

Net, price: spread back to 7d avg − costs−$237as in the Price arb table

costs, in and out, $10k−$2152.154% of the position

Long on Gate Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−1.515%−$151 on $10k

Price spread, last 3 days (all we have)+0.365%+$36 · spread now −0.210%, 7d avg +0.003%

Together, before fees−1.150%−$115 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$89 a day on $10k at the current rate, and Kraken Futures is 0.213% cheaper against Gate than usual: you would sell low and buy high (−$21 if the spread goes back to its 7-day average of +0.003%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -1.515% in total (about -79.0% 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	Gate ZETA_USDT	0.06143	−0.0200	get 0.0100% / 4h	4m 57s	$627K	$9.3M	25x
Short	Kraken Futures PF_ZETAUSD	0.06130	−0.3163	pay 0.0395% / 1h	4m 57s	$63K	$612K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Gate. 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 GatebpFee Kraken FuturesbpOrdersPrice spread, now −0.210%Rate

Funding earned: −$622.23
Price spread: −0.210% → +0.003%: −$21.25
Slippage, 4 orders: −$190.44
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$858.92
Costs to cover: 2.154%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; Kraken Futures: live order book, 27 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 Gate live order book, 3 min ago	4.08 bp	38.7 bp −$39	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 27 min ago	38.90 bp	51.7 bp −$52	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
Kraken Futures PF_ZETAUSDshort	−0.3163%	1h	0.06130	−0.210%	$63K	$612K	10x
KuCoin ZETAUSDTM	−0.0414%	4h	0.06145	+0.033%	$1.2M	$4.9M	20x	as long as short
Gate ZETA_USDTlong	−0.0200%	4h	0.06143	long leg	$627K	$9.3M	25x
OKX ZETA-USDT-SWAP	−0.0076%	4h	0.06141	−0.033%	$1.2M	$46.1M	20x	as long as short
BingX ZETA-USDT	−0.0072%	4h	0.06142	−0.016%	—	$6.5M	—	as long as short
Binance ZETAUSDT	−0.0014%	4h	0.06144	+0.009%	$8.5M	$292.0M	50x	as long as short
MEXC ZETA_USDT	−0.0014%	4h	0.06144	+0.016%	$1.7M	$11.2M	50x	as long as short
BloFin ZETA-USDT	0.0000%	4h	0.06135	−0.130%	$424K	$946K	50x	as long as short
Injective ZETA/USDC PERP	+0.0033%	1h	0.06460	+5.160%	$1K	$5K	5.5x	as long as short
Hyperliquid ZETA	+0.0100%	1h	0.06146	+0.049%	$1.8M	$3.6M	3x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ZETAUSDT	+0.0100%	4h	0.06140	−0.049%	$5.4M	$75.4M	25x	as long as short
Bitget ZETAUSDT	+0.0100%	4h	0.06146	+0.049%	$2.2M	$55.7M	50x	as long as short
Variational Omni ZETA	+0.0100%	4h	0.06139	−0.057%	$143K	$694K	—	as long as short