Funding arb · Price arb /

ZK

all ZK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0026%/8h= −2.8% APRpaid last 24h −0.003%

Price spread now: ApeX Omni against BloFin−0.068%7-day average +0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs−$90as in the Price arb table

costs, in and out, $10k−$800.805% of the position

Long on BloFin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.011%−$1 on $10k

Price spread, last 4 days (all we have)−0.018%−$2 · spread now −0.068%, 7d avg +0.023%

Together, before fees−0.029%−$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and ApeX Omni is 0.091% cheaper against BloFin than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.023%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ZK-USDT	0.01178	0.0126	pay 0.0063% / 4h	1h 31m	$213K	$19K	75x
Short	ApeX Omni ZKUSDT	0.01177	0.0100	get 0.0013% / 1h	31m 57s	$8K	$627K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BloFin. 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 BloFinbpFee ApeX OmnibpOrdersPrice spread, now −0.068%Rate

Funding earned: −$5.36
Price spread: −0.068% → +0.023%: −$9.14
Slippage, 4 orders: −$58.5
Fee BloFin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$95
Costs to cover: 0.805%
Break-even: never at this rate

Slippage from BloFin: live order book, 44 min ago; ApeX Omni: live order book, 11 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 BloFin live order book, 44 min ago	3.01 bp	16.4 bp −$16	36.7 bp −$367	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 11 min ago	12.74 bp	23.7 bp −$24	doesn't fit	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	0.01177	−0.102%	$1.0M	$2.1M	20x	as long as short
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	−0.662%	$2K	$31K	5.5x	as long as short
Lighter ZK	+0.0096%	1h	0.01179	+0.068%	$130K	$197K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01178	0.000%	$584K	$175K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01178	+0.015%	$31K	$21K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01178	+0.017%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01178	−0.025%	$4.9M	$8.0M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01177	−0.059%	$5.1M	$2.4M	25x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01177	−0.068%	$301K	$260K	50x	as long as short
KuCoin ZKUSDTM	+0.0100%	4h	0.01177	−0.068%	$966K	$1.6M	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ZKUSDT	+0.0100%	4h	0.01177	−0.068%	$1.4M	$893K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01177	−0.042%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01174	−0.285%	$57K	$13K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01176	−0.176%	$163K	$2.3M	10x	as long as short
ApeX Omni ZKUSDTshort	+0.0100%	1h	0.01177	−0.068%	$8K	$627K	50x
BloFin ZK-USDTlong	+0.0126%	4h	0.01178	long leg	$213K	$19K	75x
Kraken Futures PF_ZKUSD	+0.1635%	1h	0.01184	+0.543%	$202K	$41K	25x	as long as short