Funding arb · Price arb /

ZETA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.1473%/8h= −161.3% APRpaid last 24h −0.254%

Price spread now: Kraken Futures against MEXC−0.168%7-day average +0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs−$366as in the Funding arb table

Net, price: spread back to 7d avg − costs−$243as in the Price arb table

costs, in and out, $10k−$2252.252% of the position

Long on MEXC Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−1.405%−$141 on $10k

Price spread, last 4 days (all we have)+0.761%+$76 · spread now −0.168%, 7d avg +0.010%

Together, before fees−0.644%−$64 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$44 a day on $10k at the current rate, and Kraken Futures is 0.178% cheaper against MEXC than usual: you would sell low and buy high (−$18 if the spread goes back to its 7-day average of +0.010%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ZETA_USDT	0.06129	−0.0820	get 0.0410% / 4h	9m 17s	$1.3M	$13.0M	50x
Short	Kraken Futures PF_ZETAUSD	0.06119	−0.2293	pay 0.0287% / 1h	9m 17s	$51K	$734K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against MEXC. 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 MEXCbpFee Kraken FuturesbpOrdersPrice spread, now −0.168%Rate

Funding earned: −$309.28
Price spread: −0.168% → +0.010%: −$17.81
Slippage, 4 orders: −$211.22
Fee MEXC: 2 bp × 2 orders: −$4
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$552.31
Costs to cover: 2.252%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; Kraken Futures: live order book, 49 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 MEXC live order book, 4 min ago	0.82 bp	7.6 bp −$8	56.4 bp −$564	140.3 bp −$14.0K	doesn't fit
Sell Kraken Futures live order book, 49 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	−0.2293%	1h	0.06119	−0.168%	$51K	$734K	10x
KuCoin ZETAUSDTM	−0.1172%	4h	0.06128	−0.016%	$1.3M	$6.1M	20x	as long as short
Variational Omni ZETA	−0.1159%	4h	0.06087	−0.687%	$118K	$781K	—	as long as short
OKX ZETA-USDT-SWAP	−0.1058%	4h	0.06126	−0.049%	$1.3M	$59.2M	20x	as long as short
Gate ZETA_USDT	−0.0978%	4h	0.06129	0.000%	$651K	$11.3M	25x	as long as short
Binance ZETAUSDT	−0.0822%	4h	0.06135	+0.102%	$8.5M	$380.0M	50x	as long as short
MEXC ZETA_USDTlong	−0.0820%	4h	0.06129	long leg	$1.3M	$13.0M	50x
BloFin ZETA-USDT	−0.0794%	4h	0.06090	−0.636%	$417K	$1.4M	50x	as long as short
Bybit ZETAUSDT	−0.0684%	4h	0.06126	−0.049%	$5.3M	$97.6M	25x	as long as short
Injective ZETA/USDC PERP	+0.0033%	1h	0.06460	+5.401%	$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	+0.0100%	1h	0.06125	−0.065%	$1.7M	$4.0M	3x	as long as short
Bitget ZETAUSDT	+0.0100%	4h	0.06132	+0.049%	$2.5M	$73.9M	50x	as long as short
BingX ZETA-USDT	+0.0100%	4h	0.06128	−0.016%	—	$8.1M	—	as long as short