Funding arb · Price arb /

ZETA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.1113%/8h= −121.9% APRpaid last 24h −0.212%

Price spread now: Kraken Futures against Gate−1.076%7-day average −0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$423as in the Funding arb table

Net, price: spread back to 7d avg − costs−$392as in the Price arb table

costs, in and out, $10k−$2862.859% of the position

Long on Gate Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−1.369%−$137 on $10k

Price spread, last 4 days (all we have)+1.441%+$144 · spread now −1.076%, 7d avg −0.014%

Together, before fees+0.072%+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$33 a day on $10k at the current rate, and Kraken Futures is 1.062% cheaper against Gate than usual: you would sell low and buy high (−$106 if the spread goes back to its 7-day average of −0.014%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ZETA_USDT	0.06605	−0.1034	get 0.0517% / 4h	39m 37s	$689K	$11.0M	25x
Short	Kraken Futures PF_ZETAUSD	0.06534	−0.2147	pay 0.0268% / 1h	39m 37s	$51K	$733K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Gate. 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 GatebpFee Kraken FuturesbpOrdersPrice spread, now −1.076%Rate

Funding earned: −$233.74
Price spread: −1.076% → −0.014%: −$106.17
Slippage, 4 orders: −$260.9
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$625.81
Costs to cover: 2.859%
Break-even: never at this rate

Slippage from Gate: live order book, 4 min ago; Kraken Futures: live order book, 19 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 Gate live order book, 4 min ago	8.73 bp	37.4 bp −$37	322.4 bp −$3,224	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 19 min ago	81.89 bp	123.6 bp −$124	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	−0.2147%	1h	0.06534	−1.076%	$51K	$733K	10x
KuCoin ZETAUSDTM	−0.1490%	4h	0.06602	−0.045%	$1.3M	$5.9M	20x	as long as short
OKX ZETA-USDT-SWAP	−0.1438%	4h	0.06458	−2.226%	$1.4M	$62.3M	20x	as long as short
Variational Omni ZETA	−0.1388%	4h	0.06436	−2.554%	$125K	$777K	—	as long as short
Binance ZETAUSDT	−0.1188%	4h	0.06507	−1.490%	$9.5M	$372.8M	50x	as long as short
MEXC ZETA_USDT	−0.1188%	4h	0.06628	+0.348%	$1.4M	$12.9M	50x	as long as short
BloFin ZETA-USDT	−0.1171%	4h	0.06469	−2.059%	$461K	$1.5M	50x	as long as short
Gate ZETA_USDTlong	−0.1034%	4h	0.06605	long leg	$689K	$11.0M	25x
Bybit ZETAUSDT	−0.0867%	4h	0.06458	−2.226%	$5.7M	$96.3M	25x	as long as short
Injective ZETA/USDC PERP	+0.0033%	1h	0.06460	−2.195%	$1K	$3K	5.5x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid ZETA	+0.0069%	1h	0.06606	+0.015%	$1.9M	$4.2M	3x	as long as short
Bitget ZETAUSDT	+0.0100%	4h	0.06619	+0.212%	$2.5M	$72.6M	50x	as long as short
BingX ZETA-USDT	+0.0100%	4h	0.06635	+0.454%	—	$8.0M	—	as long as short