Funding you earn now, next payment 21:00 UTC+0.2116%/8h= +231.7% APRpaid last 24h +0.594%
Price spread now: Kraken Futures against Bybit+0.249%7-day average +0.300% · you sell dearer than you buy
Net, funding: paid 7d − costs−$38as in the Funding arb table
Net, price: spread back to 7d avg − costs−$180as in the Price arb table
costs, in and out, $10k−$1751.752% of the position
Funding, last 7 days+1.369%+$137 on $10k
+Price spread, last 3 days (all we have)+0.129%+$13 · spread now +0.249%, 7d avg +0.300%
=Funding pays, the price is against you. Kraken Futures is 0.051% cheaper against Bybit than usual: you would sell low and buy high (spread +0.249% now, against its 7-day average of +0.300%). If the spread goes back, that is −$5 on $10k: about 2 hours of funding at the current rate (+$63 a day). At the pace of the last 7 days (+1.369% in total) that is about 6 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 1.369% in total (about 71.4% 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 | Bybit ZKUSDT | 0.01177 | 0.0100 | pay 0.0050% / 4h | 3h 31m | $5.0M | $2.8M | 25x |
| Short | Kraken Futures PF_ZKUSD | 0.01180 | 0.2216 | get 0.0277% / 1h | 31m 14s | $195K | $44K | 25x |
Bybit ZKUSDT
Kraken Futures PF_ZKUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Bybit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $444.34
- Price spread: +0.249% → +0.300%
- −$5.08
- Slippage, 4 orders
- −$154.15
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $264.1
- Costs to cover
- 1.752%
- Break-even
- 2.8 days
Slippage from Bybit: live order book, 2 min ago; Kraken Futures: live order book, 16 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 Bybit live order book, 2 min ago | 3.40 bp | 19.3 bp −$19 | 139.5 bp −$1,395 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 16 min ago | 38.52 bp | 56.2 bp −$56 | 226.5 bp −$2,265 | doesn't fit | doesn't fit |
ZK on 17 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective ZK/USDC PERP | +0.0033% | 1h | 0.01170 | −0.561% | $2K | $31K | 5.5x | as long as short |
| BloFin ZK-USDT | +0.0052% | 4h | 0.01176 | −0.085% | $214K | $36K | 75x | as long as short |
| Lighter ZK | +0.0096% | 1h | 0.01178 | +0.144% | $120K | $161K | 8x | as long as short |
| Hyperliquid ZK | +0.0100% | 1h | 0.01178 | +0.144% | $587K | $242K | 5x | as long as short |
| Aster ZKUSDT | +0.0100% | 4h | 0.01176 | −0.084% | $37K | $27K | 10x | as long as short |
| Pacifica ZK | +0.0100% | 1h | 0.01176 | −0.034% | $29K | $3K | 5x | as long as short |
| Binance ZKUSDT | +0.0100% | 4h | 0.01176 | −0.008% | $4.7M | $10.3M | 75x | as long as short |
| Bybit ZKUSDTlong | +0.0100% | 4h | 0.01177 | long leg | $5.0M | $2.8M | 25x | |
| OKX ZK-USDT-SWAP | +0.0100% | 4h | 0.01176 | −0.008% | $970K | $2.3M | 20x | as long as short |
| Gate ZK_USDT | +0.0100% | 8h | 0.01177 | +0.034% | $320K | $260K | 50x | as long as short |
Injective ZK/USDC PERP
BloFin ZK-USDT
Lighter ZK
Hyperliquid ZK
Aster ZKUSDT
Pacifica ZK
Binance ZKUSDT
OKX ZK-USDT-SWAP
Gate ZK_USDTShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin ZKUSDTM | +0.0100% | 4h | 0.01177 | +0.034% | $1.0M | $1.0M | 50x | as long as short |
| Bitget ZKUSDT | +0.0100% | 4h | 0.01177 | +0.034% | $1.5M | $878K | 75x | as long as short |
| BingX ZK-USDT | +0.0100% | 4h | 0.01176 | −0.042% | — | $6.7M | — | as long as short |
| Variational Omni ZK | +0.0100% | 4h | 0.01175 | −0.173% | $57K | $20K | — | as long as short |
| GRVT ZK_USDT_Perp | +0.0100% | 4h | 0.01177 | +0.034% | $162K | $2.9M | 10x | as long as short |
| ApeX Omni ZKUSDT | +0.0100% | 1h | 0.01174 | −0.221% | $8K | $619K | 50x | as long as short |
| Kraken Futures PF_ZKUSDshort | +0.2216% | 1h | 0.01180 | +0.249% | $195K | $44K | 25x |
KuCoin ZKUSDTM
Bitget ZKUSDT
BingX ZK-USDT
Variational Omni ZK
GRVT ZK_USDT_Perp
ApeX Omni ZKUSDT