Funding arb · Price arb /

XTZ

all XTZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0201%/8h= +22.0% APRpaid last 24h +0.084%

Price spread now: Gate against Kraken Futures+0.098%7-day average −0.119% · you sell dearer than you buy

Net, funding: paid 7d − costs−$144as in the Funding arb table

Net, price: spread back to 7d avg − costs−$128as in the Price arb table

costs, in and out, $10k−$1501.497% of the position

Long on Kraken Futures Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.059%+$6 on $10k

Price spread, last 4 days (all we have)−0.430%−$43 · spread now +0.098%, 7d avg −0.119%

Together, before fees−0.371%−$37 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Gate is 0.217% dearer against Kraken Futures than usual: you sell high and buy low: +$22 more if the spread goes back to its 7-day average of −0.119%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.059% in total (about 3.1% 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	Kraken Futures PF_XTZUSD	0.3374	−0.0101	get 0.0013% / 1h	31m 24s	$278K	$279K	50x
Short	Gate XTZ_USDT	0.3377	0.0100	get 0.0100% / 8h	7h 31m	$619K	$155K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.098%Rate

Funding earned: $42.13
Price spread: +0.098% → −0.119%: $21.65
Slippage, 4 orders: −$124.73
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$85.94
Costs to cover: 1.497%
Break-even: 21.3 days

Slippage from Kraken Futures: live order book, 1 min ago; Gate: live order book, 65 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, 1 min ago	5.92 bp	23.6 bp −$24	98.0 bp −$980	doesn't fit	doesn't fit
Sell Gate live order book, 65 min ago	2.98 bp	58.0 bp −$58	154.9 bp −$1,549	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
Bybit XTZUSDT	−0.0878%	4h	0.3370	−0.110%	$2.7M	$2.6M	75x	as long as short
Bitget XTZUSDT	−0.0198%	4h	0.3373	−0.021%	$913K	$867K	75x	as long as short
Variational Omni XTZ	−0.0194%	4h	0.3376	+0.081%	$102K	$297K	—	as long as short
Kraken Futures PF_XTZUSDlong	−0.0101%	1h	0.3374	long leg	$278K	$279K	50x
Injective XTZ/USDC PERP	+0.0033%	1h	0.3484	+3.269%	$62	$17K	5.5x	as long as short
Binance XTZUSDT	+0.0100%	4h	0.3369	−0.132%	$4.7M	$9.4M	75x	as long as short
OKX XTZ-USDT-SWAP	+0.0100%	8h	0.3372	−0.050%	$1.2M	$1.2M	20x	as long as short
Gate XTZ_USDTshort	+0.0100%	8h	0.3377	+0.098%	$619K	$155K	75x
MEXC XTZ_USDT	+0.0100%	4h	0.3370	−0.110%	$2.1M	$738K	100x	as long as short
KuCoin XTZUSDTM	+0.0100%	4h	0.3372	−0.050%	$624K	$203K	30x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX XTZ-USDT	+0.0100%	4h	0.3373	−0.021%	—	$1.1M	—	as long as short
BloFin XTZ-USDT	+0.0120%	4h	0.3374	+0.009%	$280K	$94K	75x	as long as short