Funding arb · Price arb /

ZETA

all ZETA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.1225%/8h= −134.2% APRpaid last 24h −0.222%

Price spread now: Kraken Futures against BloFin+0.063%7-day average +0.083% · you sell dearer than you buy

Net, funding: paid 7d − costs−$358as in the Funding arb table

Net, price: spread back to 7d avg − costs−$219as in the Price arb table

costs, in and out, $10k−$2172.168% of the position

Long on BloFin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−1.408%−$141 on $10k

Price spread, last 3 days (all we have)+0.065%+$6 · spread now +0.063%, 7d avg +0.083%

Together, before fees−1.343%−$134 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$37 a day on $10k at the current rate, and Kraken Futures is 0.020% cheaper against BloFin than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.083%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ZETA-USDT	0.05670	−0.1645	get 0.0823% / 4h	3h 47m	$357K	$1.0M	50x
Short	Kraken Futures PF_ZETAUSD	0.05674	−0.2871	pay 0.0359% / 1h	47m 09s	$49K	$694K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BloFin. 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 BloFinbpFee Kraken FuturesbpOrdersPrice spread, now +0.063%Rate

Funding earned: −$257.28
Price spread: +0.063% → +0.083%: −$2
Slippage, 4 orders: −$194.82
Fee BloFin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$476.11
Costs to cover: 2.168%
Break-even: never at this rate

Slippage from BloFin: live order book, 5 min ago; Kraken Futures: live order book, 26 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 BloFin live order book, 5 min ago	8.94 bp	20.2 bp −$20	44.8 bp −$448	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 26 min ago	45.01 bp	72.5 bp −$73	doesn't fit	doesn't fit	doesn't fit

ZETA 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_ZETAUSDshort	−0.2871%	1h	0.05674	+0.063%	$49K	$694K	10x
Binance ZETAUSDT	−0.1700%	4h	0.05705	+0.617%	$7.6M	$322.1M	50x	as long as short
MEXC ZETA_USDT	−0.1694%	4h	0.05681	+0.194%	$1.2M	$12.0M	50x	as long as short
BloFin ZETA-USDTlong	−0.1645%	4h	0.05670	long leg	$357K	$1.0M	50x
BingX ZETA-USDT	−0.1616%	4h	0.05721	+0.899%	—	$7.1M	—	as long as short
KuCoin ZETAUSDTM	−0.1436%	4h	0.05669	−0.018%	$1.1M	$5.4M	20x	as long as short
OKX ZETA-USDT-SWAP	−0.1396%	4h	0.05707	+0.653%	$1.0M	$47.4M	20x	as long as short
Variational Omni ZETA	−0.1287%	4h	0.05580	−1.594%	$109K	$735K	—	as long as short
Gate ZETA_USDT	−0.0640%	4h	0.05715	+0.794%	$556K	$9.9M	25x	as long as short
Hyperliquid ZETA	−0.0597%	1h	0.05720	+0.882%	$1.6M	$3.9M	3x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ZETAUSDT	−0.0531%	4h	0.05706	+0.635%	$5.0M	$83.2M	25x	as long as short
Injective ZETA/USDC PERP	+0.0033%	1h	0.06460	+13.933%	$1K	$5K	5.5x	as long as short
Bitget ZETAUSDT	+0.0100%	4h	0.05727	+1.005%	$2.1M	$61.4M	50x	as long as short