Funding arb · Price arb /

ZK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.017%

Price spread now: Injective against Aster−0.051%57s7-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 Injective

What this pair did over the last

the charts below follow

Funding, last 4 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 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 0.051% cheaper against Aster than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 57 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	Aster ZKUSDT	0.01171	0.0100	pay 0.0050% / 4h	2h 08m	$31K	$20K	10x
Short	Injective ZK/USDC PERP	0.01170	0.0033	get 0.0004% / 1h	8m 24s	$2K	$31K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.051%Rate

Funding earned: −$14
Price spread: −0.051% → 0.000%: −$5.14
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$27.16
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Aster: no order-book sample; Injective: no order-book sample. 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 Injective no order-book sample	—	—	—	—	—

Aster and Injective: 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 16 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	−0.0138%	4h	0.01172	+0.111%	$1.0M	$2.3M	20x	as long as short
Injective ZK/USDC PERPshort	+0.0033%	1h	0.01170	−0.051%	$2K	$31K	5.5x
Lighter ZK	+0.0096%	1h	0.01173	+0.205%	$135K	$182K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01173	+0.171%	$582K	$229K	5x	as long as short
Aster ZKUSDTlong	+0.0100%	4h	0.01171	long leg	$31K	$20K	10x
Pacifica ZK	+0.0100%	1h	0.01171	+0.025%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01172	+0.154%	$4.8M	$9.1M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01172	+0.119%	$5.0M	$2.6M	25x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01172	+0.119%	$327K	$242K	50x	as long as short
KuCoin ZKUSDTM	+0.0100%	4h	0.01172	+0.119%	$976K	$1.2M	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ZKUSDT	+0.0100%	4h	0.01173	+0.205%	$1.5M	$862K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01172	+0.119%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01172	+0.123%	$57K	$15K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01175	+0.362%	$155K	$2.6M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01173	+0.205%	$9K	$623K	50x	as long as short
Kraken Futures PF_ZKUSD	+0.0736%	1h	0.01174	+0.283%	$193K	$43K	25x	as long as short