ZK

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0039%/8h= −4.3% APRnext payment −$0.20 per $10,000 · paid last 24h −0.025%

Price spread now: Bybit against BloFin−0.223%112s7-day average −0.092% · you buy dearer than you sell

Net, funding: paid 7d − costs−$77as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$730.725% of the position

Long on BloFin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.048%−$5 on $10k

Price spread, last 3 days (all we have)−0.042%−$4 · spread now −0.223%, 7d avg −0.092%

Together, before fees−0.090%−$9 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 Bybit is 0.131% cheaper against BloFin than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.092%). Swap the legs. The two prices were read 112 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	BloFin ZK-USDT	0.01166	0.0139	pay 0.0070% / 4h	1h 37m	$211K	$24K	75x
Short	Bybit ZKUSDT	0.01163	0.0100	get 0.0050% / 4h	1h 37m	$5.0M	$2.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.223%Rate

Funding earned: −$8.29
Price spread: −0.223% → −0.092%: −$13.12
Slippage, 4 orders: −$49.53
Fee BloFin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$93.94
Costs to cover: 0.725%
Break-even: never at this rate

Slippage from BloFin: live order book, 38 min ago; Bybit: live order book, just now.

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, 38 min ago	2.14 bp	13.0 bp −$13	35.8 bp −$358	doesn't fit	doesn't fit
Sell Bybit live order book, just now	3.44 bp	19.8 bp −$20	80.4 bp −$804	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	−0.0016%	4h	0.01163	−0.257%	$941K	$2.3M	20x	as long as short
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	+0.369%	$2K	$31K	5.5x	as long as short
Lighter ZK	+0.0096%	1h	0.01167	+0.077%	$127K	$165K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01165	−0.060%	$584K	$234K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01165	−0.059%	$36K	$19K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01164	−0.112%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01164	−0.154%	$4.7M	$9.9M	75x	as long as short
Bybit ZKUSDTshort	+0.0100%	4h	0.01163	−0.223%	$5.0M	$2.7M	25x
Gate ZK_USDT	+0.0100%	8h	0.01165	−0.060%	$315K	$244K	50x	as long as short
KuCoin ZKUSDTM	+0.0100%	4h	0.01164	−0.146%	$987K	$971K	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	0.01165	−0.060%	$1.5M	$857K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01164	−0.163%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01166	−0.011%	$57K	$15K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01166	+0.026%	$161K	$2.8M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01167	+0.112%	$8K	$621K	50x	as long as short
BloFin ZK-USDTlong	+0.0139%	4h	0.01166	long leg	$211K	$24K	75x
Kraken Futures PF_ZKUSD	+0.1297%	1h	0.01166	+0.039%	$193K	$43K	25x	as long as short