Funding arb · Price arb /

ZETA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.1150%/8h= +126.0% APRpaid last 24h +0.222%

Price spread now: BloFin against Kraken Futures+0.448%57s7-day average −0.083% · you sell dearer than you buy

Net, funding: paid 7d − costs−$76as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

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

Long on Kraken Futures Short on BloFin

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)−0.577%−$58 · spread now +0.448%, 7d avg −0.083%

Together, before fees+0.831%+$83 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$35 a day on $10k at the current rate, and BloFin is 0.532% dearer against Kraken Futures than usual: you sell high and buy low: +$53 more if the spread goes back to its 7-day average of −0.083%. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ZETAUSD	0.05616	−0.2900	get 0.0363% / 1h	47m 47s	$49K	$694K	10x
Short	BloFin ZETA-USDT	0.05641	−0.1750	pay 0.0875% / 4h	3h 47m	$365K	$1.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.448%Rate

Funding earned: $241.55
Price spread: +0.448% → −0.083%: $53.18
Slippage, 4 orders: −$194.82
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $77.9
Costs to cover: 2.168%
Break-even: 4.7 days

Slippage from Kraken Futures: live order book, 25 min ago; BloFin: 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, 25 min ago	45.01 bp	100.1 bp −$100	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 4 min ago	8.94 bp	24.1 bp −$24	71.2 bp −$712	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_ZETAUSDlong	−0.2900%	1h	0.05616	long leg	$49K	$694K	10x
BloFin ZETA-USDTshort	−0.1750%	4h	0.05641	+0.448%	$365K	$1.0M	50x
Binance ZETAUSDT	−0.1695%	4h	0.05679	+1.130%	$7.5M	$321.6M	50x	as long as short
MEXC ZETA_USDT	−0.1692%	4h	0.05673	+1.018%	$1.2M	$12.0M	50x	as long as short
BingX ZETA-USDT	−0.1620%	4h	0.05671	+0.983%	—	$7.1M	—	as long as short
KuCoin ZETAUSDTM	−0.1440%	4h	0.05680	+1.143%	$1.1M	$5.4M	20x	as long as short
OKX ZETA-USDT-SWAP	−0.1371%	4h	0.05680	+1.143%	$1.0M	$47.0M	20x	as long as short
Variational Omni ZETA	−0.1287%	4h	0.05580	−0.644%	$109K	$735K	—	as long as short
Gate ZETA_USDT	−0.0848%	4h	0.05677	+1.090%	$551K	$9.9M	25x	as long as short
Hyperliquid ZETA	−0.0569%	1h	0.05680	+1.143%	$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	−0.0113%	4h	0.05682	+1.179%	$5.0M	$83.0M	25x	as long as short
Injective ZETA/USDC PERP	+0.0033%	1h	0.06460	+15.032%	$1K	$5K	5.5x	as long as short
Bitget ZETAUSDT	+0.0100%	4h	0.05680	+1.143%	$2.1M	$61.3M	50x	as long as short