Funding you earn now, next payment 02:00 UTC−0.1831%/8h= −200.5% APRpaid last 24h −0.121%
Price spread now: Bybit against Kraken Futures−0.125%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$55 a day on $10k at the current rate, and Bybit is 0.125% cheaper against Kraken Futures than usual: you would sell low and buy high (−$13 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_ZRXUSD | 0.1215 | 0.1931 | pay 0.0241% / 1h | 19m 12s | $40K | $4K | 10x |
| Short | Bybit ZRXUSDT | 0.1214 | 0.0100 | get 0.0100% / 8h | 6h 19m | $1.5M | $377K | 25x |
Kraken Futures PF_ZRXUSD
Bybit ZRXUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$384.5
- Price spread: −0.125% → 0.000%
- −$12.5
- Slippage, 4 orders
- no order book: not counted
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$418
- Costs to cover
- 0.210%
- Break-even
- never at this rate
Slippage unknown: Kraken Futures: no order-book sample; Bybit: live order book, 2 min ago. Net counts fees only.
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 no order-book sample | — | — | — | — | — |
| Sell Bybit live order book, 2 min ago | 7.83 bp | 57.7 bp −$58 | 228.0 bp −$2,280 | doesn't fit | doesn't fit |
Kraken Futures: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
ZRX on 10 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 | |
|---|---|---|---|---|---|---|---|---|
| Binance ZRXUSDT | +0.0100% | 4h | 0.1213 | −0.194% | $1.8M | $1.3M | 50x | as long as short |
| Bybit ZRXUSDTshort | +0.0100% | 8h | 0.1214 | −0.125% | $1.5M | $377K | 25x | |
| OKX ZRX-USDT-SWAP | +0.0100% | 4h | 0.1213 | −0.191% | $535K | $319K | 20x | as long as short |
| Gate ZRX_USDT | +0.0100% | 8h | 0.1212 | −0.298% | $145K | $47K | 75x | as long as short |
| MEXC ZRX_USDT | +0.0100% | 4h | 0.1214 | −0.117% | $923K | $173K | 50x | as long as short |
| KuCoin ZRXUSDTM | +0.0100% | 4h | 0.1212 | −0.281% | $326K | $47K | 30x | as long as short |
| Bitget ZRXUSDT | +0.0100% | 4h | 0.1213 | −0.199% | $583K | $121K | 50x | as long as short |
| BingX ZRX-USDT | +0.0100% | 4h | 0.1213 | −0.199% | — | $2.3M | — | as long as short |
| Variational Omni ZRX | +0.0100% | 8h | 0.1214 | −0.127% | $23K | $41K | — | as long as short |
| Kraken Futures PF_ZRXUSDlong | +0.1931% | 1h | 0.1215 | long leg | $40K | $4K | 10x |
Binance ZRXUSDT
OKX ZRX-USDT-SWAP
Gate ZRX_USDT
MEXC ZRX_USDT
KuCoin ZRXUSDTM
Bitget ZRXUSDT
BingX ZRX-USDT
Variational Omni ZRX