Funding you earn now, next payment 23:00 UTC+0.1861%/8h= +203.7% APRpaid last 24h +0.348%
Price spread now: Kraken Futures against Binance+0.481%7-day average +0.165% · you sell dearer than you buy
Net, funding: paid 7d − costs+$12as in the Funding arb table
Net, price: spread back to 7d avg − costs−$77as in the Price arb table
costs, in and out, $10k−$1081.084% of the position
Funding, last 7 days+1.208%+$121 on $10k
+Price spread, last 3 days (all we have)−0.450%−$45 · spread now +0.481%, 7d avg +0.165%
=Both sides work for this trade now. Funding pays +$56 a day on $10k at the current rate, and Kraken Futures is 0.316% dearer against Binance than usual: you sell high and buy low: +$32 more if the spread goes back to its 7-day average of +0.165%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 1.208% in total (about 63.0% 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 | Binance ZENUSDT | 7.7171 | 0.0018 | pay 0.0018% / 8h | 1h 05m | $11.2M | $31.6M | 75x |
| Short | Kraken Futures PF_ZENUSD | 7.7542 | 0.1879 | get 0.0235% / 1h | 5m 37s | $507K | $1.1M | 25x |
Binance ZENUSDT
Kraken Futures PF_ZENUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Binance. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $390.72
- Price spread: +0.481% → +0.165%
- $31.64
- Slippage, 4 orders
- −$88.43
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $313.93
- Costs to cover
- 1.084%
- Break-even
- 1.4 days
Slippage from Binance: live order book, 6 min ago; Kraken Futures: 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 Binance live order book, 6 min ago | 0.65 bp | 12.3 bp −$12 | 30.8 bp −$308 | 417.3 bp −$41.7K | doesn't fit |
| Sell Kraken Futures live order book, 3 min ago | 26.56 bp | 35.8 bp −$36 | 110.1 bp −$1,101 | doesn't fit | doesn't fit |
ZEN on 17 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 | |
|---|---|---|---|---|---|---|---|---|
| OKX ZEN-USDT-SWAP | −0.0066% | 4h | 7.7150 | −0.027% | $2.3M | $5.8M | 50x | as long as short |
| Variational Omni ZEN | −0.0049% | 8h | 7.6855 | −0.410% | $51K | $85K | — | as long as short |
| KuCoin ZENUSDTM | −0.0025% | 8h | 7.7160 | −0.014% | $4.3M | $5.0M | 50x | as long as short |
| dYdX ZEN-USD | 0.0000% | 1h | 7.7194 | +0.030% | $9K | — | 5x | as long as short |
| Extended ZEN-USD | +0.0016% | 1h | 7.7154 | −0.022% | $25K | $110K | 5x | as long as short |
| MEXC ZEN_USDT | +0.0018% | 8h | 7.7190 | +0.025% | $12.2M | $5.6M | 200x | as long as short |
| Binance ZENUSDTlong | +0.0018% | 8h | 7.7171 | long leg | $11.2M | $31.6M | 75x | |
| Bitget ZENUSDT | +0.0063% | 8h | 7.7130 | −0.053% | $2.8M | $3.5M | 50x | as long as short |
| BloFin ZEN-USDT | +0.0066% | 8h | 7.7030 | −0.182% | $836K | $1.8M | 75x | as long as short |
| Bybit ZENUSDT | +0.0076% | 8h | 7.7140 | −0.040% | $4.7M | $6.4M | 75x | as long as short |
OKX ZEN-USDT-SWAP
Variational Omni ZEN
KuCoin ZENUSDTM
dYdX ZEN-USD
Extended ZEN-USD
MEXC ZEN_USDT
Bitget ZENUSDT
BloFin ZEN-USDT
Bybit ZENUSDTShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX ZEN-USDT | +0.0082% | 8h | 7.7210 | +0.051% | — | $3.4M | — | as long as short |
| Aster ZENUSDT | +0.0091% | 8h | 7.7167 | −0.005% | $53K | $380K | 10x | as long as short |
| ApeX Omni ZENUSDT | +0.0096% | 1h | 7.7120 | −0.066% | $27K | $683K | 50x | as long as short |
| Hyperliquid ZEN | +0.0100% | 1h | 7.7401 | +0.298% | $2.4M | $1.8M | 5x | as long as short |
| GRVT ZEN_USDT_Perp | +0.0100% | 8h | 7.7122 | −0.063% | $575K | $1.6M | 10x | as long as short |
| SunX ZEN-USDT | +0.0100% | 8h | 7.7220 | +0.064% | $2K | $1.4M | 20x | as long as short |
| Kraken Futures PF_ZENUSDshort | +0.1879% | 1h | 7.7542 | +0.481% | $507K | $1.1M | 25x |
BingX ZEN-USDT
Aster ZENUSDT
ApeX Omni ZENUSDT
Hyperliquid ZEN
GRVT ZEN_USDT_Perp
SunX ZEN-USDT