Funding arb · Price arb /

ZK

all ZK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.1392%/8h= +152.5% APRpaid last 24h +0.580%

Price spread now: Kraken Futures against Bitget+0.363%7-day average +0.171% · you sell dearer than you buy

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$173as in the Price arb table

costs, in and out, $10k−$1921.919% of the position

Long on Bitget Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+1.300%+$130 on $10k

Price spread, last 3 days (all we have)−0.129%−$13 · spread now +0.363%, 7d avg +0.171%

Together, before fees+1.171%+$117 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$42 a day on $10k at the current rate, and Kraken Futures is 0.191% dearer against Bitget than usual: you sell high and buy low: +$19 more if the spread goes back to its 7-day average of +0.171%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ZKUSDT	0.01165	0.0100	pay 0.0050% / 4h	2h 31m	$1.5M	$850K	75x
Short	Kraken Futures PF_ZKUSD	0.01169	0.1492	get 0.0187% / 1h	31m 53s	$193K	$44K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bitget. 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 BitgetbpFee Kraken FuturesbpOrdersPrice spread, now +0.363%Rate

Funding earned: $292.4
Price spread: +0.363% → +0.171%: $19.11
Slippage, 4 orders: −$169.94
Fee Bitget: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $119.58
Costs to cover: 1.919%
Break-even: 4.1 days

Slippage from Bitget: live order book, 5 min ago; Kraken Futures: live order book, 55 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 Bitget live order book, 5 min ago	8.59 bp	19.4 bp −$19	56.0 bp −$560	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 55 min ago	33.62 bp	49.0 bp −$49	281.5 bp −$2,815	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
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	+0.429%	$2K	$31K	5.5x	as long as short
BloFin ZK-USDT	+0.0094%	4h	0.01167	+0.146%	$212K	$35K	75x	as long as short
Lighter ZK	+0.0096%	1h	0.01168	+0.240%	$119K	$159K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01167	+0.163%	$585K	$238K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01167	+0.137%	$36K	$19K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01166	+0.060%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01166	+0.060%	$4.7M	$9.9M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01165	−0.009%	$5.0M	$2.7M	25x	as long as short
OKX ZK-USDT-SWAP	+0.0100%	4h	0.01164	−0.112%	$951K	$2.3M	20x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01166	+0.086%	$316K	$256K	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	0.01165	0.000%	$989K	$958K	50x	as long as short
Bitget ZKUSDTlong	+0.0100%	4h	0.01165	long leg	$1.5M	$850K	75x
BingX ZK-USDT	+0.0100%	4h	0.01165	+0.017%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01164	−0.085%	$57K	$20K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01168	+0.257%	$160K	$2.9M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01165	0.000%	$8K	$621K	50x	as long as short
Kraken Futures PF_ZKUSDshort	+0.1492%	1h	0.01169	+0.363%	$193K	$44K	25x