Funding arb · Price arb /

ZK

all ZK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.024%

Price spread now: Bybit against BingX+0.008%7-day average −0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs−$68as in the Price arb table

costs, in and out, $10k−$730.726% of the position

Long on BingX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.082%−$8 on $10k

Price spread, last 7 days−0.012%−$1 · spread now +0.008%, 7d avg −0.039%

Together, before fees−0.094%−$9 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 0.047% dearer against BingX than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.039%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ZK-USDT	0.01179	0.0100	pay 0.0050% / 4h	32m 02s	—	$6.7M	—
Short	Bybit ZKUSDT	0.01179	0.0100	get 0.0050% / 4h	32m 02s	$5.0M	$2.6M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against BingX. 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 BingXbpFee BybitbpOrdersPrice spread, now +0.008%Rate

Funding earned: $0
Price spread: +0.008% → −0.039%: $4.7
Slippage, 4 orders: −$51.65
Fee BingX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$67.94
Costs to cover: 0.726%
Break-even: never at this rate

Slippage from BingX: live order book, 5 min ago; Bybit: live order book, 1 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 BingX live order book, 5 min ago	2.97 bp	20.6 bp −$21	48.5 bp −$485	385.8 bp −$38.6K	713.8 bp −$356.9K
Sell Bybit live order book, 1 min ago	0.85 bp	19.1 bp −$19	55.5 bp −$555	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	−0.0004%	4h	0.01178	−0.051%	$983K	$2.4M	20x	as long as short
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	−0.730%	$2K	$31K	5.5x	as long as short
BloFin ZK-USDT	+0.0076%	4h	0.01181	+0.178%	$214K	$25K	75x	as long as short
Lighter ZK	+0.0096%	1h	0.01181	+0.221%	$129K	$166K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01180	+0.153%	$599K	$238K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01180	+0.152%	$37K	$19K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01179	+0.034%	$30K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01179	+0.025%	$4.8M	$9.8M	75x	as long as short
Bybit ZKUSDTshort	+0.0100%	4h	0.01179	+0.008%	$5.0M	$2.6M	25x
Gate ZK_USDT	+0.0100%	8h	0.01180	+0.119%	$322K	$245K	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	0.01178	−0.051%	$988K	$1.1M	50x	as long as short
Bitget ZKUSDT	+0.0100%	4h	0.01180	+0.119%	$1.5M	$859K	75x	as long as short
BingX ZK-USDTlong	+0.0100%	4h	0.01179	long leg	—	$6.7M	—
Variational Omni ZK	+0.0100%	4h	0.01176	−0.198%	$57K	$15K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01178	−0.077%	$153K	$2.8M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01178	−0.051%	$9K	$628K	50x	as long as short
Kraken Futures PF_ZKUSD	+0.1408%	1h	0.01182	+0.275%	$195K	$44K	25x	as long as short