Funding arb · Price arb /

ZBT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.1375%/8h= +150.5% APRpaid last 24h +0.187%

Price spread now: OKX against Kraken Futures−0.220%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Kraken Futures Short on OKX

What this pair did over the last

the charts below follow

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

Funding pays, the price is against you. OKX is 0.220% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.220% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$22 on $10k: about 13 hours of funding at the current rate (+$41 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ZBTUSD	0.08602	−0.1275	get 0.0159% / 1h	51m 16s	$7K	$1K	10x
Short	OKX ZBT-USDT-SWAP	0.08583	0.0100	get 0.0050% / 4h	1h 51m	$620K	$2.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.220%Rate

Funding earned: $288.65
Price spread: −0.220% → 0.000%: −$21.95
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: $246.7
Costs to cover: 0.200%
Break-even: 1.0 days

Slippage unknown: Kraken Futures: no order-book sample; OKX: live order book, 6 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 OKX live order book, 6 min ago	1.75 bp	28.3 bp −$28	277.8 bp −$2,778	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.

ZBT on 13 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_ZBTUSDlong	−0.1275%	1h	0.08602	long leg	$7K	$1K	10x
Aster ZBTUSDT	+0.0100%	4h	0.08588	−0.162%	$10K	$42K	5x	as long as short
Binance ZBTUSDT	+0.0100%	4h	0.08592	−0.115%	$3.5M	$4.9M	50x	as long as short
Bybit ZBTUSDT	+0.0100%	4h	0.08589	−0.150%	$926K	$948K	25x	as long as short
OKX ZBT-USDT-SWAPshort	+0.0100%	4h	0.08583	−0.220%	$620K	$2.1M	10x
Gate ZBT_USDT	+0.0100%	8h	0.08580	−0.254%	$542K	$668K	50x	as long as short
MEXC ZBT_USDT	+0.0100%	4h	0.08589	−0.150%	$1.5M	$281K	100x	as long as short
KuCoin ZBTUSDTM	+0.0100%	4h	0.08585	−0.196%	$668K	$9.3M	50x	as long as short
Bitget ZBTUSDT	+0.0100%	4h	0.08585	−0.196%	$6.2M	$305K	10x	as long as short
BingX ZBT-USDT	+0.0100%	4h	0.08594	−0.092%	—	$1.3M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni ZBT	+0.0100%	4h	0.08591	−0.121%	$1K	$13K	—	as long as short
Extended ZBT-USD	+0.0104%	1h	0.08578	−0.282%	$5K	$196K	5x	as long as short
BloFin ZBT-USDT	+0.0113%	4h	0.08583	−0.220%	$154K	$41K	50x	as long as short