Funding arb · Price arb /

ZK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0010%/8h= +1.1% APRpaid last 24h +0.003%

Price spread now: BloFin against Gate+0.104%7-day average +0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$111as in the Funding arb table

Net, price: spread back to 7d avg − costs−$98as in the Price arb table

costs, in and out, $10k−$1081.082% of the position

Long on Gate Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.028%−$3 on $10k

Price spread, last 4 days (all we have)−0.010%−$1 · spread now +0.104%, 7d avg +0.003%

Together, before fees−0.038%−$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and BloFin is 0.100% dearer against Gate than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ZK_USDT	0.01157	0.0100	pay 0.0100% / 8h	2h 38m	$296K	$257K	50x
Short	BloFin ZK-USDT	0.01158	0.0110	get 0.0055% / 4h	2h 38m	$212K	$20K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Gate. 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 GatebpFee BloFinbpOrdersPrice spread, now +0.104%Rate

Funding earned: $2.06
Price spread: +0.104% → +0.003%: $10.03
Slippage, 4 orders: −$81.25
Fee Gate: 7.5 bp × 2 orders: −$15
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$96.16
Costs to cover: 1.082%
Break-even: 333.8 days

Slippage from Gate: live order book, 6 min ago; BloFin: live order book, 42 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 Gate live order book, 6 min ago	8.56 bp	28.8 bp −$29	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 42 min ago	4.68 bp	19.3 bp −$19	44.1 bp −$441	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	−0.0115%	4h	0.01158	+0.086%	$985K	$2.1M	20x	as long as short
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	+1.124%	$2K	$31K	5.5x	as long as short
Lighter ZK	+0.0096%	1h	0.01160	+0.285%	$125K	$188K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01160	+0.259%	$580K	$175K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01159	+0.186%	$31K	$21K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01157	+0.017%	$28K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01159	+0.186%	$4.8M	$8.0M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01158	+0.130%	$5.0M	$2.3M	25x	as long as short
Gate ZK_USDTlong	+0.0100%	8h	0.01157	long leg	$296K	$257K	50x
KuCoin ZKUSDTM	+0.0100%	4h	0.01158	+0.086%	$954K	$1.5M	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	0.01158	+0.086%	$1.4M	$845K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01158	+0.104%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01161	+0.346%	$57K	$15K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01161	+0.336%	$150K	$2.3M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01162	+0.432%	$8K	$623K	50x	as long as short
BloFin ZK-USDTshort	+0.0110%	4h	0.01158	+0.104%	$212K	$20K	75x
Kraken Futures PF_ZKUSD	+0.1284%	1h	0.01161	+0.373%	$191K	$35K	25x	as long as short