Funding arb · Price arb /

XTZ

all XTZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0258%/8h= −28.3% APRpaid last 24h −0.049%

Price spread now: Kraken Futures against MEXC+0.251%7-day average +0.189% · you sell dearer than you buy

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

costs, in and out, $10k−$820.823% of the position

Long on MEXC Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.022%+$2 on $10k

Price spread, last 4 days (all we have)+0.026%+$3 · spread now +0.251%, 7d avg +0.189%

Together, before fees+0.048%+$5 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.062% dearer against MEXC than usual: you sell high and buy low (spread +0.251% now, against its 7-day average of +0.189%): +$6 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 19 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.022% in total (about 1.1% 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	MEXC XTZ_USDT	0.3435	0.0100	pay 0.0050% / 4h	13m 21s	$2.1M	$670K	100x
Short	Kraken Futures PF_XTZUSD	0.3444	−0.0158	pay 0.0020% / 1h	13m 21s	$284K	$251K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against MEXC. 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 MEXCbpFee Kraken FuturesbpOrdersPrice spread, now +0.251%Rate

Funding earned: −$54.26
Price spread: +0.251% → +0.189%: $6.17
Slippage, 4 orders: −$68.27
Fee MEXC: 2 bp × 2 orders: −$4
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$130.36
Costs to cover: 0.823%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 min ago; Kraken Futures: live order book, 44 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 MEXC live order book, 3 min ago	1.46 bp	3.7 bp −$4	26.3 bp −$263	143.0 bp −$14.3K	doesn't fit
Sell Kraken Futures live order book, 44 min ago	14.66 bp	33.5 bp −$33	92.3 bp −$923	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	−0.0158%	1h	0.3444	+0.251%	$284K	$251K	50x
Bitget XTZUSDT	+0.0020%	4h	0.3436	+0.029%	$927K	$938K	75x	as long as short
Injective XTZ/USDC PERP	+0.0033%	1h	0.3484	+1.426%	$62	$17K	5.5x	as long as short
Binance XTZUSDT	+0.0100%	4h	0.3436	+0.029%	$4.8M	$9.7M	75x	as long as short
Bybit XTZUSDT	+0.0100%	4h	0.3433	−0.058%	$2.7M	$2.8M	75x	as long as short
OKX XTZ-USDT-SWAP	+0.0100%	8h	0.3433	−0.058%	$1.2M	$1.3M	20x	as long as short
Gate XTZ_USDT	+0.0100%	8h	0.3431	−0.116%	$636K	$168K	75x	as long as short
MEXC XTZ_USDTlong	+0.0100%	4h	0.3435	long leg	$2.1M	$670K	100x
KuCoin XTZUSDTM	+0.0100%	4h	0.3437	+0.058%	$631K	$192K	30x	as long as short
BingX XTZ-USDT	+0.0100%	4h	0.3438	+0.087%	—	$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	0.3428	−0.192%	$86K	$331K	—	as long as short
BloFin XTZ-USDT	+0.0140%	4h	0.3427	−0.233%	$281K	$97K	75x	as long as short