Funding arb · Price arb /

ZK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: GRVT against BingX+0.305%7-day average +0.059% · you sell dearer than you buy

Net, funding: paid 7d − costs−$104as in the Funding arb table

Net, price: spread back to 7d avg − costs−$80as in the Price arb table

costs, in and out, $10k−$1041.042% of the position

Long on BingX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.003%$0 on $10k

Price spread, last 7 days−0.261%−$26 · spread now +0.305%, 7d avg +0.059%

Together, before fees−0.264%+ Points / potential airdropGRVT: Active · farm board−$26 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: GRVT is 0.246% dearer against BingX than usual: you sell high and buy low, +$25 on $10k if it goes back to its 7-day average of +0.059%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ZK-USDT	0.01182	0.0100	pay 0.0050% / 4h	1h 15m	—	$6.7M	—
Short	GRVT ZK_USDT_Perp	0.01186	0.0100	get 0.0050% / 4h	1h 15m	$157K	$2.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.305%Rate

Funding earned: $0
Price spread: +0.305% → +0.059%: $24.64
Slippage, 4 orders: −$85.2
Fee BingX: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$79.56
Costs to cover: 1.042%
Break-even: never at this rate

Slippage from BingX: live order book, 2 min ago; GRVT: live order book, 3 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, 2 min ago	3.38 bp	22.9 bp −$23	53.9 bp −$539	417.3 bp −$41.7K	632.4 bp −$316.2K
Sell GRVT live order book, 3 min ago	4.22 bp	24.8 bp −$25	98.1 bp −$981	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	−0.0011%	4h	0.01182	−0.042%	$1.0M	$2.3M	20x	as long as short
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	−1.040%	$2K	$31K	5.5x	as long as short
BloFin ZK-USDT	+0.0093%	4h	0.01180	−0.203%	$217K	$21K	75x	as long as short
Lighter ZK	+0.0096%	1h	0.01185	+0.195%	$137K	$182K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01184	+0.186%	$589K	$221K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01184	+0.180%	$32K	$20K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01183	+0.059%	$30K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01183	+0.059%	$4.9M	$8.7M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01182	0.000%	$5.1M	$2.5M	25x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01183	+0.059%	$330K	$236K	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	0.01184	+0.144%	$987K	$1.3M	50x	as long as short
Bitget ZKUSDT	+0.0100%	4h	0.01184	+0.144%	$1.5M	$847K	75x	as long as short
BingX ZK-USDTlong	+0.0100%	4h	0.01182	long leg	—	$6.7M	—
Variational Omni ZK	+0.0100%	4h	0.01184	+0.150%	$58K	$15K	—	as long as short
GRVT ZK_USDT_Perpshort	+0.0100%	4h	0.01186	+0.305%	$157K	$2.5M	10x
ApeX Omni ZKUSDT	+0.0100%	1h	0.01187	+0.398%	$8K	$621K	50x	as long as short
Kraken Futures PF_ZKUSD	+0.1585%	1h	0.01187	+0.370%	$195K	$39K	25x	as long as short