Funding arb · Price arb /

ZK

all ZK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: BingX against ApeX Omni−0.194%98s7-day average −0.094% · you buy dearer than you sell

Net, funding: paid 7d − costs−$98as 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−$1021.023% of the position

Long on ApeX Omni Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.039%+$4 on $10k

Price spread, last 4 days (all we have)−0.669%−$67 · spread now −0.194%, 7d avg −0.094%

Together, before fees−0.630%−$63 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BingX is 0.100% cheaper against ApeX Omni than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of −0.094%. The two prices were read 98 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	ApeX Omni ZKUSDT	0.01186	0.0100	pay 0.0013% / 1h	47m 44s	$8K	$618K	50x
Short	BingX ZK-USDT	0.01184	0.0100	get 0.0050% / 4h	47m 44s	—	$6.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against ApeX Omni. 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 ApeX OmnibpFee BingXbpOrdersPrice spread, now −0.194%Rate

Funding earned: $0
Price spread: −0.194% → −0.094%: −$9.99
Slippage, 4 orders: −$82.33
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$112.32
Costs to cover: 1.023%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 10 min ago; BingX: live order book, 5 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 ApeX Omni live order book, 10 min ago	16.98 bp	28.1 bp −$28	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 5 min ago	4.22 bp	19.6 bp −$20	50.8 bp −$508	398.9 bp −$39.9K	754.1 bp −$377.1K

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
OKX ZK-USDT-SWAP	+0.0007%	4h	0.01184	−0.152%	$1.0M	$2.3M	20x	as long as short
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	−1.349%	$2K	$31K	5.5x	as long as short
Lighter ZK	+0.0096%	1h	0.01186	0.000%	$137K	$179K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01186	−0.017%	$588K	$222K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01184	−0.172%	$32K	$21K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01185	−0.084%	$30K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01185	−0.076%	$4.9M	$8.6M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01184	−0.126%	$5.1M	$2.5M	25x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01183	−0.253%	$330K	$230K	50x	as long as short
KuCoin ZKUSDTM	+0.0100%	4h	0.01182	−0.337%	$975K	$1.3M	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ZKUSDT	+0.0100%	4h	0.01183	−0.253%	$1.5M	$836K	75x	as long as short
BingX ZK-USDTshort	+0.0100%	4h	0.01184	−0.194%	—	$6.6M	—
Variational Omni ZK	+0.0100%	4h	0.01184	−0.190%	$58K	$15K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01189	+0.253%	$158K	$2.4M	10x	as long as short
ApeX Omni ZKUSDTlong	+0.0100%	1h	0.01186	long leg	$8K	$618K	50x
BloFin ZK-USDT	+0.0138%	4h	0.01182	−0.346%	$217K	$21K	75x	as long as short
Kraken Futures PF_ZKUSD	+0.1926%	1h	0.01186	+0.037%	$195K	$39K	25x	as long as short