Funding you earn now, next payment 05:00 UTC+0.0360%/8h= +39.4% APRpaid last 24h −0.075%
Price spread now: Kraken Futures against BingX+0.057%7-day average +0.109% · you sell dearer than you buy
Net, funding: paid 7d − costs−$94as in the Funding arb table
Net, price: spread back to 7d avg − costs−$114as in the Price arb table
costs, in and out, $10k−$1091.090% of the position
Funding, last 7 days+0.151%+$15 on $10k
+Price spread, last 4 days (all we have)−0.285%−$29 · spread now +0.057%, 7d avg +0.109%
=Funding pays, the price is against you. Kraken Futures is 0.051% cheaper against BingX than usual: you would sell low and buy high (spread +0.057% now, against its 7-day average of +0.109%). If the spread goes back, that is −$5 on $10k: about 11 hours of funding at the current rate (+$11 a day). At the pace of the last 7 days (+0.151% in total) that is about 2.4 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.151% in total (about 7.9% 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 | BingX ZRO-USDT | 1.1777 | 0.0100 | pay 0.0050% / 4h | 3h 46m | — | $16.4M | — |
| Short | Kraken Futures PF_ZROUSD | 1.1784 | 0.0460 | get 0.0057% / 1h | 46m 05s | $259K | $386K | 25x |
BingX ZRO-USDT
Kraken Futures PF_ZROUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against BingX. 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
- $75.59
- Price spread: +0.057% → +0.109%
- −$5.13
- Slippage, 4 orders
- −$89.05
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$38.59
- Costs to cover
- 1.090%
- Break-even
- 10.6 days
Slippage from BingX: live order book, 7 min ago; Kraken Futures: live order book, 7 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 BingX live order book, 7 min ago | 2.12 bp | 8.3 bp −$8 | 14.5 bp −$145 | 31.7 bp −$3,165 | 62.6 bp −$31.3K |
| Sell Kraken Futures live order book, 7 min ago | 31.31 bp | 36.3 bp −$36 | 132.5 bp −$1,325 | doesn't fit | doesn't fit |
ZRO on 26 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX ZRO-USD | +0.0034% | 1h | 1.1777 | +0.004% | $21K | $4K | 5x | as long as short |
| Orderly PERP_ZRO_USDC | +0.0047% | 4h | 1.1778 | +0.008% | $21K | $5K | 10x | as long as short |
| Lighter ZRO | +0.0096% | 1h | 1.1797 | +0.168% | $4.4M | $1.2M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1780 | +0.022% | $159K | $150K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1781 | +0.032% | $137K | $178K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1777 | 0.000% | $22.1M | $29.8M | 75x | as long as short |
| Bybit ZROUSDT | +0.0100% | 4h | 1.1774 | −0.025% | $18.0M | $13.9M | 50x | as long as short |
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1779 | +0.017% | $3.2M | $7.9M | 20x | as long as short |
| Gate ZRO_USDT | +0.0100% | 4h | 1.1760 | −0.144% | $1.3M | $1.5M | 75x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1778 | +0.008% | $19.3M | $2.7M | 125x | as long as short |
dYdX ZRO-USD
Orderly PERP_ZRO_USDC
Lighter ZRO
Aster ZROUSDT
Pacifica ZRO
Binance ZROUSDT
Bybit ZROUSDT
OKX ZRO-USDT-SWAP
Gate ZRO_USDT
MEXC ZRO_USDTShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1769 | −0.068% | $2.4M | $2.0M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1774 | −0.025% | $2.7M | $2.6M | 75x | as long as short |
| BingX ZRO-USDTlong | +0.0100% | 4h | 1.1777 | long leg | — | $16.4M | — | |
| Variational Omni ZRO | +0.0100% | 4h | 1.1770 | −0.060% | $2.3M | $809K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1750 | −0.229% | $39K | $675K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1786 | +0.076% | $100K | $851K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1773 | −0.033% | $21K | — | 3x | as long as short |
| Backpack ZRO_USDC_PERP | +0.0110% | 1h | 1.1778 | +0.008% | $98K | $220K | 20x | as long as short |
| BloFin ZRO-USDT | +0.0136% | 4h | 1.1756 | −0.178% | $1.1M | $250K | 75x | as long as short |
| Nado ZRO-PERP | +0.0227% | 1h | 1.1782 | +0.041% | $1.3M | $124K | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0293% / S −0.2341% | 1h | 1.1780 | +0.027% | $3K | — | 100x | as long as short |
| 01 Exchange ZROUSD | +0.0296% | 1h | 1.1788 | +0.096% | $7K | $3K | 5x | as long as short |
| Kraken Futures PF_ZROUSDshort | +0.0460% | 1h | 1.1784 | +0.057% | $259K | $386K | 25x | |
| Hyperliquid ZRO | +0.0495% | 1h | 1.1796 | +0.161% | $37.4M | $5.5M | 5x | as long as short |
| Extended ZRO-USD | +0.1032% | 1h | 1.1778 | +0.011% | $788K | $589K | 10x | as long as short |
| Injective ZRO/USDC PERP | +0.1363% | 1h | 1.1820 | +0.365% | $12K | $261K | 12x | as long as short |
KuCoin ZROUSDTM
Bitget ZROUSDT
Variational Omni ZRO
ApeX Omni ZROUSDT
Polymarket Perps ZRO-USD
Aevo ZRO-PERP
Backpack ZRO_USDC_PERP
BloFin ZRO-USDT
Nado ZRO-PERP
GMX ZRO/USD [ETH-USDC]
01 Exchange ZROUSD
Hyperliquid ZRO
Extended ZRO-USD
Injective ZRO/USDC PERP