Funding arb · Price arb /

XTZ

all XTZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0025%/8h= +2.8% APRpaid last 24h +0.041%

Price spread now: Bitget against Kraken Futures−0.259%7-day average −0.156% · you buy dearer than you sell

Net, funding: paid 7d − costs−$99as in the Funding arb table

Net, price: spread back to 7d avg − costs−$101as in the Price arb table

costs, in and out, $10k−$900.904% of the position

Long on Kraken Futures Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.086%−$9 on $10k

Price spread, last 3 days (all we have)+0.109%+$11 · spread now −0.259%, 7d avg −0.156%

Together, before fees+0.022%+$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.103% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.259% now, against its 7-day average of −0.156%). If the spread goes back, that is −$10 on $10k: about 14 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.086%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XTZUSD	0.3382	0.0075	pay 0.0009% / 1h	42m 50s	$269K	$247K	50x
Short	Bitget XTZUSDT	0.3373	0.0100	get 0.0050% / 4h	2h 42m	$911K	$1.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.259%Rate

Funding earned: $5.28
Price spread: −0.259% → −0.156%: −$10.33
Slippage, 4 orders: −$68.43
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$95.48
Costs to cover: 0.904%
Break-even: 133.5 days

Slippage from Kraken Futures: live order book, 25 min ago; Bitget: live order book, 3 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, 25 min ago	8.83 bp	32.8 bp −$33	109.1 bp −$1,091	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	4.45 bp	10.9 bp −$11	59.4 bp −$594	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
Injective XTZ/USDC PERP	+0.0033%	1h	0.3484	+3.023%	$62	$17K	5.5x	as long as short
Kraken Futures PF_XTZUSDlong	+0.0075%	1h	0.3382	long leg	$269K	$247K	50x
Binance XTZUSDT	+0.0100%	4h	0.3373	−0.252%	$4.7M	$10.6M	75x	as long as short
Bybit XTZUSDT	+0.0100%	4h	0.3374	−0.230%	$2.7M	$3.3M	75x	as long as short
OKX XTZ-USDT-SWAP	+0.0100%	8h	0.3373	−0.259%	$1.2M	$1.4M	20x	as long as short
Gate XTZ_USDT	+0.0100%	8h	0.3379	−0.082%	$625K	$173K	75x	as long as short
MEXC XTZ_USDT	+0.0100%	4h	0.3375	−0.200%	$2.0M	$645K	100x	as long as short
KuCoin XTZUSDTM	+0.0100%	4h	0.3379	−0.082%	$641K	$237K	30x	as long as short
Bitget XTZUSDTshort	+0.0100%	4h	0.3373	−0.259%	$911K	$1.1M	75x
BingX XTZ-USDT	+0.0100%	4h	0.3373	−0.259%	—	$1.1M	—	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni XTZ	+0.0100%	4h	0.3377	−0.127%	$121K	$296K	—	as long as short
BloFin XTZ-USDT	+0.0115%	4h	0.3385	+0.096%	$279K	$117K	75x	as long as short