Funding arb · Price arb /

ZK

all ZK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0037%/8h= +4.1% APRpaid last 24h −0.001%

Price spread now: Gate against BloFin+0.339%78s7-day average −0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$87as 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−$900.901% of the position

Long on BloFin Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.035%+$3 on $10k

Price spread, last 3 days (all we have)−0.433%−$43 · spread now +0.339%, 7d avg −0.005%

Together, before fees−0.399%−$40 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Gate is 0.344% dearer against BloFin than usual: you sell high and buy low: +$34 more if the spread goes back to its 7-day average of −0.005%. The two prices were read 78 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	0.01180	0.0063	pay 0.0031% / 4h	3m 56s	$214K	$24K	75x
Short	Gate ZK_USDT	0.01184	0.0100	get 0.0100% / 8h	3m 56s	$333K	$248K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.339%Rate

Funding earned: $7.86
Price spread: +0.339% → −0.005%: $34.35
Slippage, 4 orders: −$63.08
Fee BloFin: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$47.86
Costs to cover: 0.901%
Break-even: 49.6 days

Slippage from BloFin: live order book, 1 min ago; Gate: live order book, 6 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, 1 min ago	0.42 bp	12.1 bp −$12	40.3 bp −$403	doesn't fit	doesn't fit
Sell Gate live order book, 6 min ago	4.24 bp	29.2 bp −$29	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	−0.0054%	4h	0.01185	+0.407%	$998K	$2.4M	20x	as long as short
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	−0.847%	$2K	$31K	5.5x	as long as short
BloFin ZK-USDTlong	+0.0063%	4h	0.01180	long leg	$214K	$24K	75x
Lighter ZK	+0.0096%	1h	0.01186	+0.534%	$129K	$169K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01185	+0.458%	$602K	$238K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01185	+0.444%	$37K	$19K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01184	+0.373%	$30K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01184	+0.381%	$4.8M	$9.8M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01184	+0.339%	$5.0M	$2.7M	25x	as long as short
Gate ZK_USDTshort	+0.0100%	8h	0.01184	+0.339%	$333K	$248K	50x

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	+0.339%	$992K	$1.1M	50x	as long as short
Bitget ZKUSDT	+0.0100%	4h	0.01184	+0.339%	$1.5M	$865K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01185	+0.424%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01178	−0.191%	$57K	$15K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01179	−0.084%	$162K	$2.8M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01178	−0.169%	$9K	$628K	50x	as long as short
Kraken Futures PF_ZKUSD	+0.1402%	1h	0.01187	+0.589%	$195K	$44K	25x	as long as short