Funding arb · Price arb /

ZETA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.1926%/8h= +210.9% APRpaid last 24h +0.400%

Price spread now: Gate against Kraken Futures+0.182%7-day average +0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$234as in the Funding arb table

Net, price: spread back to 7d avg − costs−$352as in the Price arb table

costs, in and out, $10k−$3683.677% of the position

Long on Kraken Futures Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+1.339%+$134 on $10k

Price spread, last 4 days (all we have)−0.343%−$34 · spread now +0.182%, 7d avg +0.024%

Together, before fees+0.996%+$100 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$58 a day on $10k at the current rate, and Gate is 0.157% dearer against Kraken Futures than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of +0.024%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 1.339% in total (about 69.8% 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_ZETAUSD	0.05923	−0.3532	get 0.0442% / 1h	19m 06s	$54K	$679K	10x
Short	Gate ZETA_USDT	0.05934	−0.1606	pay 0.0803% / 4h	1h 19m	$637K	$8.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.182%Rate

Funding earned: $404.5
Price spread: +0.182% → +0.024%: $15.75
Slippage, 4 orders: −$342.67
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $52.58
Costs to cover: 3.677%
Break-even: 6.1 days

Slippage from Kraken Futures: live order book, 24 min ago; Gate: 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, 24 min ago	34.93 bp	52.7 bp −$53	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	5.95 bp	70.7 bp −$71	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_ZETAUSDlong	−0.3532%	1h	0.05923	long leg	$54K	$679K	10x
Variational Omni ZETA	−0.1709%	4h	0.05902	−0.351%	$121K	$683K	—	as long as short
Gate ZETA_USDTshort	−0.1606%	4h	0.05934	+0.182%	$637K	$8.7M	25x
Bybit ZETAUSDT	−0.1425%	4h	0.05926	+0.046%	$5.0M	$83.1M	25x	as long as short
Binance ZETAUSDT	−0.1030%	4h	0.05927	+0.063%	$7.9M	$314.4M	50x	as long as short
MEXC ZETA_USDT	−0.1028%	4h	0.05925	+0.030%	$1.2M	$10.9M	50x	as long as short
BloFin ZETA-USDT	−0.0998%	4h	0.05919	−0.072%	$376K	$1.3M	50x	as long as short
KuCoin ZETAUSDTM	−0.0824%	4h	0.05936	+0.215%	$1.0M	$5.0M	20x	as long as short
OKX ZETA-USDT-SWAP	−0.0822%	4h	0.05924	+0.013%	$1.2M	$45.4M	20x	as long as short
Hyperliquid ZETA	−0.0289%	1h	0.05930	+0.114%	$1.6M	$3.3M	3x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective ZETA/USDC PERP	+0.0033%	1h	0.06460	+9.062%	$1K	$1K	5.5x	as long as short
Bitget ZETAUSDT	+0.0100%	4h	0.05935	+0.198%	$2.4M	$60.8M	50x	as long as short
BingX ZETA-USDT	+0.0100%	4h	0.05927	+0.063%	—	$7.6M	—	as long as short