Funding arb · Price arb /

ZETA

all ZETA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0286%/8h= −31.3% APRpaid last 24h +0.205%

Price spread now: KuCoin against Kraken Futures−0.062%7-day average +0.087% · you buy dearer than you sell

Net, funding: paid 7d − costs−$120as in the Funding arb table

Net, price: spread back to 7d avg − costs−$266as in the Price arb table

costs, in and out, $10k−$2512.510% of the position

Long on Kraken Futures Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+1.312%+$131 on $10k

Price spread, last 4 days (all we have)−0.902%−$90 · spread now −0.062%, 7d avg +0.087%

Together, before fees+0.410%+$41 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and KuCoin is 0.149% cheaper against Kraken Futures than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of +0.087%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +1.312%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ZETAUSD	0.05861	−0.1756	get 0.0220% / 1h	24m 05s	$49K	$722K	10x
Short	KuCoin ZETAUSDTM	0.05857	−0.2042	pay 0.1021% / 4h	1h 24m	$1.1M	$5.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 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 Kraken FuturesbpFee KuCoinbpOrdersPrice spread, now −0.062%Rate

Funding earned: −$60.05
Price spread: −0.062% → +0.087%: −$14.88
Slippage, 4 orders: −$228.98
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$325.91
Costs to cover: 2.510%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 39 min ago; KuCoin: live order book, 4 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, 39 min ago	36.10 bp	48.2 bp −$48	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	11.23 bp	62.8 bp −$63	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 ZETAUSDTMshort	−0.2042%	4h	0.05857	−0.062%	$1.1M	$5.7M	20x
OKX ZETA-USDT-SWAP	−0.1955%	4h	0.05867	+0.109%	$1.2M	$53.1M	20x	as long as short
BingX ZETA-USDT	−0.1854%	4h	0.05868	+0.126%	—	$7.6M	—	as long as short
Binance ZETAUSDT	−0.1838%	4h	0.05876	+0.263%	$8.2M	$349.6M	50x	as long as short
MEXC ZETA_USDT	−0.1836%	4h	0.05872	+0.194%	$1.1M	$12.4M	50x	as long as short
BloFin ZETA-USDT	−0.1806%	4h	0.05861	+0.007%	$393K	$1.2M	50x	as long as short
Gate ZETA_USDT	−0.1758%	4h	0.05870	+0.160%	$606K	$10.7M	25x	as long as short
Kraken Futures PF_ZETAUSDlong	−0.1756%	1h	0.05861	long leg	$49K	$722K	10x
Hyperliquid ZETA	−0.1676%	1h	0.05866	+0.092%	$1.6M	$4.0M	3x	as long as short
Variational Omni ZETA	−0.1663%	4h	0.05830	−0.526%	$114K	$759K	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ZETAUSDT	−0.1172%	4h	0.05869	+0.143%	$5.3M	$90.4M	25x	as long as short
Injective ZETA/USDC PERP	+0.0033%	1h	0.06460	+10.228%	$1K	$5K	5.5x	as long as short
Bitget ZETAUSDT	+0.0100%	4h	0.05876	+0.263%	$2.4M	$67.4M	50x	as long as short