Funding arb · Price arb /

ZK

all ZK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.017%

Price spread now: Injective against Binance−1.843%57s7-day average — · you buy dearer than you sell

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

Long on Binance 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—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 1.843% cheaper against Binance than usual: you would sell low and buy high (−$184 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	Binance ZKUSDT	0.01192	0.0100	pay 0.0050% / 4h	28m 22s	$4.9M	$8.5M	75x
Short	Injective ZK/USDC PERP	0.01170	0.0033	get 0.0004% / 1h	28m 22s	$2K	$31K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Binance. 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 BinancebpFee InjectivebpOrdersPrice spread, now −1.843%Rate

Funding earned: −$14
Price spread: −1.843% → 0.000%: −$184.28
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$208.3
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 11 min ago; 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 Binance live order book, 11 min ago	1.27 bp	24.4 bp −$24	90.6 bp −$906	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

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 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	+0.0019%	4h	0.01191	−0.106%	$1.0M	$2.3M	20x	as long as short
Injective ZK/USDC PERPshort	+0.0033%	1h	0.01170	−1.843%	$2K	$31K	5.5x
Lighter ZK	+0.0096%	1h	0.01193	+0.112%	$138K	$180K	8x	as long as short
BloFin ZK-USDT	+0.0100%	4h	0.01192	+0.020%	$218K	$21K	75x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01194	+0.171%	$593K	$204K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01192	−0.004%	$32K	$21K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01191	−0.081%	$30K	$3K	5x	as long as short
Binance ZKUSDTlong	+0.0100%	4h	0.01192	long leg	$4.9M	$8.5M	75x
Bybit ZKUSDT	+0.0100%	4h	0.01192	−0.022%	$5.1M	$2.5M	25x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01193	+0.087%	$328K	$246K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ZKUSDTM	+0.0100%	4h	0.01192	+0.003%	$981K	$1.4M	50x	as long as short
Bitget ZKUSDT	+0.0100%	4h	0.01192	+0.003%	$1.5M	$848K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01192	+0.020%	—	$6.6M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01193	+0.111%	$58K	$15K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01193	+0.087%	$159K	$2.4M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01185	−0.584%	$8K	$616K	50x	as long as short
Kraken Futures PF_ZKUSD	+0.1907%	1h	0.01198	+0.538%	$197K	$38K	25x	as long as short