Funding arb · Price arb /

ZK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Hyperliquid against Aster−0.001%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Aster Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · Hyperliquid: Season 2 · farm boardneeds both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ZKUSDT	0.01162	0.0100	pay 0.0050% / 4h	1h 52m	$36K	$19K	10x
Short	Hyperliquid ZK	0.01162	0.0100	get 0.0013% / 1h	52m 08s	$583K	$235K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Aster. 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 AsterbpFee HyperliquidbpOrdersPrice spread, now −0.001%Rate

Funding earned: $0
Price spread: −0.001% → 0.000%: −$0.08
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$17.08
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Aster: no order-book sample; Hyperliquid: live order book, 28 min ago. Net counts fees only.

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 Aster no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 28 min ago	1.28 bp	17.9 bp −$18	doesn't fit	doesn't fit	doesn't fit

Aster: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	+0.0005%	4h	0.01161	−0.138%	$943K	$2.3M	20x	as long as short
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	+0.662%	$2K	$31K	5.5x	as long as short
Lighter ZK	+0.0096%	1h	0.01164	+0.111%	$119K	$156K	8x	as long as short
Hyperliquid ZKshort	+0.0100%	1h	0.01162	−0.001%	$583K	$235K	5x
Aster ZKUSDTlong	+0.0100%	4h	0.01162	long leg	$36K	$19K	10x
Pacifica ZK	+0.0100%	1h	0.01161	−0.121%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01162	−0.044%	$4.7M	$9.9M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01161	−0.104%	$5.0M	$2.7M	25x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01162	−0.027%	$314K	$244K	50x	as long as short
KuCoin ZKUSDTM	+0.0100%	4h	0.01161	−0.113%	$985K	$966K	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	0.01161	−0.113%	$1.5M	$855K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01161	−0.078%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01164	+0.124%	$57K	$15K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01166	+0.296%	$154K	$2.8M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01166	+0.318%	$8K	$620K	50x	as long as short
BloFin ZK-USDT	+0.0157%	4h	0.01165	+0.266%	$212K	$24K	75x	as long as short
Kraken Futures PF_ZKUSD	+0.1298%	1h	0.01165	+0.225%	$193K	$43K	25x	as long as short