Funding arb · Price arb /

ZK

all ZK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.003%

Price spread now: Variational Omni against Bybit−0.158%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.158% cheaper against Bybit than usual: you would sell low and buy high, −$16 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ZKUSDT	0.01166	0.0100	pay 0.0050% / 4h	1h 12m	$5.0M	$2.6M	25x
Short	Variational Omni ZK	0.01164	0.0100	get 0.0050% / 4h	1h 12m	$57K	$15K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Bybit. 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 BybitbpFee Variational OmnibpOrdersPrice spread, now −0.158%Rate

Funding earned: $0
Price spread: −0.158% → 0.000%: −$15.83
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$26.83
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, just now; Variational Omni: no order-book sample. Net counts fees only.

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 Bybit live order book, just now	1.72 bp	17.6 bp −$18	55.1 bp −$551	doesn't fit	doesn't fit
Sell Variational Omni no order-book sample	—	—	—	—	—

Variational Omni: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0006%	4h	0.01166	0.000%	$943K	$2.3M	20x	as long as short
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	+0.343%	$2K	$31K	5.5x	as long as short
Lighter ZK	+0.0096%	1h	0.01168	+0.206%	$127K	$165K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01168	+0.154%	$592K	$239K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01166	−0.021%	$36K	$19K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01166	+0.009%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01166	+0.039%	$4.7M	$9.8M	75x	as long as short
Bybit ZKUSDTlong	+0.0100%	4h	0.01166	long leg	$5.0M	$2.6M	25x
Gate ZK_USDT	+0.0100%	8h	0.01167	+0.086%	$319K	$248K	50x	as long as short
KuCoin ZKUSDTM	+0.0100%	4h	0.01166	0.000%	$984K	$1.0M	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	0.01166	0.000%	$1.5M	$865K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01167	+0.043%	—	$6.7M	—	as long as short
Variational Omni ZKshort	+0.0100%	4h	0.01164	−0.158%	$57K	$15K	—
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01165	−0.086%	$160K	$2.8M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01166	0.000%	$8K	$623K	50x	as long as short
BloFin ZK-USDT	+0.0141%	4h	0.01167	+0.043%	$211K	$25K	75x	as long as short
Kraken Futures PF_ZKUSD	+0.1294%	1h	0.01169	+0.220%	$193K	$43K	25x	as long as short