Funding arb · Price arb /

ZK

all ZK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.002%

Price spread now: Bybit against ApeX Omni+0.192%49s7-day average −0.137% · you sell dearer than you buy

Net, funding: paid 7d − costs−$101as 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−$980.980% of the position

Long on ApeX Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.031%−$3 on $10k

Price spread, last 4 days (all we have)−1.322%−$132 · spread now +0.192%, 7d avg −0.137%

Together, before fees−1.353%−$135 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: Bybit is 0.329% dearer against ApeX Omni than usual: you sell high and buy low, +$33 on $10k if it goes back to its 7-day average of −0.137%. The two prices were read 49 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	0.01196	0.0100	pay 0.0013% / 1h	58m 43s	$8K	$638K	50x
Short	Bybit ZKUSDT	0.01198	0.0100	get 0.0050% / 4h	1h 58m	$5.2M	$2.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.192%Rate

Funding earned: $0
Price spread: +0.192% → −0.137%: $32.92
Slippage, 4 orders: −$76.96
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$65.04
Costs to cover: 0.980%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 52 min ago; Bybit: live order book, 2 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, 52 min ago	12.60 bp	21.8 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	4.17 bp	24.3 bp −$24	50.8 bp −$508	doesn't fit	doesn't fit

ZK on 17 exchanges

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	−2.174%	$2K	$31K	5.5x	as long as short
Lighter ZK	+0.0096%	1h	0.01200	+0.309%	$130K	$180K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01199	+0.276%	$594K	$168K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01198	+0.200%	$33K	$20K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01198	+0.201%	$29K	$2K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01198	+0.192%	$4.9M	$7.8M	75x	as long as short
Bybit ZKUSDTshort	+0.0100%	4h	0.01198	+0.192%	$5.2M	$2.5M	25x
OKX ZK-USDT-SWAP	+0.0100%	4h	0.01197	+0.125%	$1.0M	$2.2M	20x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01198	+0.167%	$305K	$264K	50x	as long as short
KuCoin ZKUSDTM	+0.0100%	4h	0.01197	+0.084%	$968K	$1.8M	50x	as long as short

Show all 17 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ZKUSDT	+0.0100%	4h	0.01198	+0.167%	$1.5M	$876K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01198	+0.167%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01196	−0.040%	$58K	$5K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01199	+0.225%	$157K	$2.0M	10x	as long as short
ApeX Omni ZKUSDTlong	+0.0100%	1h	0.01196	long leg	$8K	$638K	50x
BloFin ZK-USDT	+0.0125%	4h	0.01196	−0.033%	$214K	$26K	75x	as long as short
Kraken Futures PF_ZKUSD	+4.0040%	1h	0.01198	+0.150%	$208K	$49K	25x	as long as short