Funding arb · Price arb /

ZK

all ZK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.003%

Price spread now: BloFin against ApeX Omni−0.162%7-day average −0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$89as in the Funding arb table

Net, price: spread back to 7d avg − costs−$104as in the Price arb table

costs, in and out, $10k−$910.905% of the position

Long on ApeX Omni Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.011%+$1 on $10k

Price spread, last 4 days (all we have)+0.166%+$17 · spread now −0.162%, 7d avg −0.023%

Together, before fees+0.177%+$18 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.139% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.162% now, against its 7-day average of −0.023%). If the spread goes back, that is −$14 on $10k: about 14 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.011% in total) that is about 3 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ZKUSDT	0.01171	0.0100	pay 0.0013% / 1h	1m 57s	$8K	$619K	50x
Short	BloFin ZK-USDT	0.01169	0.0132	get 0.0066% / 4h	3h 01m	$214K	$20K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.162%Rate

Funding earned: $6.75
Price spread: −0.162% → −0.023%: −$13.94
Slippage, 4 orders: −$68.54
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$97.73
Costs to cover: 0.905%
Break-even: 108.4 days

Slippage from ApeX Omni: live order book, 51 min ago; BloFin: live order book, 19 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, 51 min ago	16.85 bp	26.4 bp −$26	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 19 min ago	4.68 bp	19.3 bp −$19	44.1 bp −$441	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
OKX ZK-USDT-SWAP	−0.0062%	4h	0.01164	−0.589%	$992K	$2.2M	20x	as long as short
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	−0.085%	$2K	$31K	5.5x	as long as short
Lighter ZK	+0.0096%	1h	0.01168	−0.290%	$126K	$189K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01167	−0.359%	$583K	$188K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01167	−0.334%	$31K	$20K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01169	−0.179%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01166	−0.427%	$4.8M	$8.0M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01165	−0.555%	$5.0M	$2.4M	25x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01165	−0.512%	$299K	$263K	50x	as long as short
KuCoin ZKUSDTM	+0.0100%	4h	0.01166	−0.427%	$961K	$1.4M	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	0.01166	−0.427%	$1.5M	$847K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01165	−0.504%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01171	−0.005%	$57K	$15K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01171	0.000%	$158K	$2.3M	10x	as long as short
ApeX Omni ZKUSDTlong	+0.0100%	1h	0.01171	long leg	$8K	$619K	50x
BloFin ZK-USDTshort	+0.0132%	4h	0.01169	−0.162%	$214K	$20K	75x
Kraken Futures PF_ZKUSD	+0.1345%	1h	0.01169	−0.199%	$192K	$36K	25x	as long as short