Funding arb · Price arb /

ZK

all ZK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.1301%/8h= +142.5% APRpaid last 24h +0.567%

Price spread now: Kraken Futures against Gate+0.304%7-day average +0.213% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$193as in the Price arb table

costs, in and out, $10k−$2022.020% of the position

Long on Gate Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+1.250%+$125 on $10k

Price spread, last 3 days (all we have)−0.102%−$10 · spread now +0.304%, 7d avg +0.213%

Together, before fees+1.148%+$115 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$39 a day on $10k at the current rate, and Kraken Futures is 0.091% dearer against Gate than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.213%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ZK_USDT	0.01184	0.0100	pay 0.0100% / 8h	2m 14s	$333K	$253K	50x
Short	Kraken Futures PF_ZKUSD	0.01188	0.1401	get 0.0175% / 1h	2m 14s	$196K	$44K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.304%Rate

Funding earned: $273.24
Price spread: +0.304% → +0.213%: $9.13
Slippage, 4 orders: −$177.01
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $80.35
Costs to cover: 2.020%
Break-even: 4.9 days

Slippage from Gate: live order book, 8 min ago; Kraken Futures: live order book, 10 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, 8 min ago	4.24 bp	31.1 bp −$31	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 10 min ago	36.46 bp	48.7 bp −$49	224.7 bp −$2,247	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	−0.0063%	4h	0.01182	−0.186%	$1.0M	$2.4M	20x	as long as short
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	−1.182%	$2K	$31K	5.5x	as long as short
BloFin ZK-USDT	+0.0051%	4h	0.01183	−0.093%	$214K	$24K	75x	as long as short
Lighter ZK	+0.0096%	1h	0.01185	+0.101%	$129K	$169K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01184	+0.042%	$601K	$238K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01185	+0.046%	$37K	$19K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01184	+0.017%	$30K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01184	−0.041%	$4.8M	$9.8M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01183	−0.127%	$5.0M	$2.7M	25x	as long as short
Gate ZK_USDTlong	+0.0100%	8h	0.01184	long leg	$333K	$253K	50x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ZKUSDTM	+0.0100%	4h	0.01182	−0.169%	$991K	$1.1M	50x	as long as short
Bitget ZKUSDT	+0.0100%	4h	0.01182	−0.169%	$1.5M	$865K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01183	−0.076%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01178	−0.529%	$57K	$15K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01183	−0.073%	$163K	$2.8M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01181	−0.253%	$9K	$628K	50x	as long as short
Kraken Futures PF_ZKUSDshort	+0.1401%	1h	0.01188	+0.304%	$196K	$44K	25x