Funding arb · Price arb /

XTZ

all XTZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0278%/8h= −30.4% APRpaid last 24h −0.029%

Price spread now: Kraken Futures against Bitget+0.151%7-day average +0.162% · you sell dearer than you buy

Net, funding: paid 7d − costs−$92as in the Funding arb table

Net, price: spread back to 7d avg − costs−$100as in the Price arb table

costs, in and out, $10k−$990.993% of the position

Long on Bitget Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.076%+$8 on $10k

Price spread, last 3 days (all we have)+0.043%+$4 · spread now +0.151%, 7d avg +0.162%

Together, before fees+0.118%+$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.162%, so right now this pair is about funding alone: −$8 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.076%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.076% in total (about 4.0% 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	Bitget XTZUSDT	0.3364	0.0100	pay 0.0050% / 4h	3h 55m	$922K	$1.1M	75x
Short	Kraken Futures PF_XTZUSD	0.3369	−0.0178	pay 0.0022% / 1h	55m 23s	$267K	$235K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bitget. 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 BitgetbpFee Kraken FuturesbpOrdersPrice spread, now +0.151%Rate

Funding earned: −$58.29
Price spread: +0.151% → +0.162%: −$1.16
Slippage, 4 orders: −$77.28
Fee Bitget: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$158.73
Costs to cover: 0.993%
Break-even: never at this rate

Slippage from Bitget: live order book, 1 min ago; Kraken Futures: live order book, 17 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 Bitget live order book, 1 min ago	5.94 bp	29.3 bp −$29	87.0 bp −$870	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 17 min ago	7.32 bp	27.3 bp −$27	67.9 bp −$679	doesn't fit	doesn't fit

XTZ 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
Kraken Futures PF_XTZUSDshort	−0.0178%	1h	0.3369	+0.151%	$267K	$235K	50x
Injective XTZ/USDC PERP	+0.0033%	1h	0.3484	+3.567%	$62	$17K	5.5x	as long as short
BingX XTZ-USDT	+0.0036%	4h	0.3368	+0.119%	—	$1.1M	—	as long as short
Variational Omni XTZ	+0.0088%	4h	0.3384	+0.581%	$121K	$296K	—	as long as short
Binance XTZUSDT	+0.0100%	4h	0.3362	−0.065%	$4.7M	$10.2M	75x	as long as short
Bybit XTZUSDT	+0.0100%	4h	0.3360	−0.119%	$2.7M	$3.3M	75x	as long as short
OKX XTZ-USDT-SWAP	+0.0100%	8h	0.3363	−0.030%	$1.2M	$1.4M	20x	as long as short
Gate XTZ_USDT	+0.0100%	8h	0.3364	0.000%	$623K	$198K	75x	as long as short
MEXC XTZ_USDT	+0.0100%	4h	0.3363	−0.030%	$2.0M	$618K	100x	as long as short
KuCoin XTZUSDTM	+0.0100%	4h	0.3365	+0.030%	$664K	$316K	30x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget XTZUSDTlong	+0.0100%	4h	0.3364	long leg	$922K	$1.1M	75x
BloFin XTZ-USDT	+0.0133%	4h	0.3390	+0.773%	$280K	$97K	75x	as long as short