Funding you earn now, next payment 06:00 UTC−0.3027%/8h= −331.5% APRpaid last 24h −0.505%
Price spread now: OKX against Kraken Futures−0.349%7-day average −0.253% · you buy dearer than you sell
Net, funding: paid 7d − costs−$267as in the Funding arb table
Net, price: spread back to 7d avg − costs−$128as in the Price arb table
costs, in and out, $10k−$1181.180% of the position
Funding, last 7 days−1.489%−$149 on $10k
+Price spread, last 4 days (all we have)+0.158%+$16 · spread now −0.349%, 7d avg −0.253%
=Both sides work against this trade now: funding costs −$91 a day on $10k at the current rate, and OKX is 0.096% cheaper against Kraken Futures than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.253%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -1.489% in total (about -77.6% 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_ZENUSD | 7.6587 | 0.3097 | pay 0.0387% / 1h | 48m 09s | $494K | $1.0M | 25x |
| Short | OKX ZEN-USDT-SWAP | 7.6320 | 0.0069 | get 0.0035% / 4h | 2h 48m | $2.2M | $5.2M | 50x |
Kraken Futures PF_ZENUSD
OKX ZEN-USDT-SWAPFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$635.73
- Price spread: −0.349% → −0.253%
- −$9.58
- Slippage, 4 orders
- −$97.97
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$763.28
- Costs to cover
- 1.180%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 5 min ago; OKX: live order book, 4 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, 5 min ago | 30.75 bp | 38.9 bp −$39 | 165.7 bp −$1,657 | doesn't fit | doesn't fit |
| Sell OKX live order book, 4 min ago | 1.96 bp | 18.9 bp −$19 | 99.1 bp −$991 | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX ZEN-USD | 0.0000% | 1h | 7.6326 | −0.341% | $9K | — | 5x | as long as short |
| KuCoin ZENUSDTM | +0.0056% | 8h | 7.6400 | −0.244% | $4.0M | $4.2M | 50x | as long as short |
| OKX ZEN-USDT-SWAPshort | +0.0069% | 4h | 7.6320 | −0.349% | $2.2M | $5.2M | 50x | |
| Hyperliquid ZEN | +0.0100% | 1h | 7.6556 | −0.041% | $2.4M | $1.3M | 5x | as long as short |
| Aster ZENUSDT | +0.0100% | 8h | 7.6426 | −0.210% | $43K | $387K | 10x | as long as short |
| Binance ZENUSDT | +0.0100% | 8h | 7.6408 | −0.233% | $10.9M | $29.8M | 75x | as long as short |
| Bybit ZENUSDT | +0.0100% | 8h | 7.6320 | −0.349% | $4.5M | $5.7M | 75x | as long as short |
| MEXC ZEN_USDT | +0.0100% | 8h | 7.6430 | −0.205% | $11.5M | $4.9M | 200x | as long as short |
| Bitget ZENUSDT | +0.0100% | 8h | 7.6380 | −0.270% | $2.8M | $3.1M | 50x | as long as short |
| BingX ZEN-USDT | +0.0100% | 8h | 7.6410 | −0.231% | — | $3.1M | — | as long as short |
dYdX ZEN-USD
KuCoin ZENUSDTM
Hyperliquid ZEN
Aster ZENUSDT
Binance ZENUSDT
Bybit ZENUSDT
MEXC ZEN_USDT
Bitget ZENUSDT
BingX ZEN-USDTShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni ZEN | +0.0100% | 8h | 7.6477 | −0.144% | $55K | $89K | — | as long as short |
| GRVT ZEN_USDT_Perp | +0.0100% | 8h | 7.6507 | −0.105% | $575K | $2.3M | 10x | as long as short |
| ApeX Omni ZENUSDT | +0.0100% | 1h | 7.6490 | −0.127% | $26K | $679K | 50x | as long as short |
| SunX ZEN-USDT | +0.0100% | 8h | 7.6500 | −0.114% | $2K | $1.3M | 20x | as long as short |
| Extended ZEN-USD | +0.0104% | 1h | 7.6417 | −0.221% | $22K | $136K | 5x | as long as short |
| BloFin ZEN-USDT | +0.0220% | 8h | 7.6470 | −0.153% | $831K | $1.6M | 75x | as long as short |
| Kraken Futures PF_ZENUSDlong | +0.3097% | 1h | 7.6587 | long leg | $494K | $1.0M | 25x |
Variational Omni ZEN
GRVT ZEN_USDT_Perp
ApeX Omni ZENUSDT
SunX ZEN-USDT
Extended ZEN-USD
BloFin ZEN-USDT