Funding arb · Price arb /

ZK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.003%

Price spread now: Bybit against GRVT−0.176%50s7-day average −0.096% · you buy dearer than you sell

Net, funding: paid 7d − costs−$123as 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−$1151.155% of the position

Long on GRVT Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.079%−$8 on $10k

Price spread, last 7 days+0.049%+$5 · spread now −0.176%, 7d avg −0.096%

Together, before fees−0.030%+ Points / potential airdropGRVT: Active · farm board−$3 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.080% cheaper against GRVT than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.096%. The two prices were read 50 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	GRVT ZK_USDT_Perp	0.01193	0.0100	pay 0.0050% / 4h	28m 46s	$159K	$2.4M	10x
Short	Bybit ZKUSDT	0.01191	0.0100	get 0.0050% / 4h	28m 46s	$5.1M	$2.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against GRVT. 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 GRVTbpFee BybitbpOrdersPrice spread, now −0.176%Rate

Funding earned: $0
Price spread: −0.176% → −0.096%: −$7.96
Slippage, 4 orders: −$95.47
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$123.44
Costs to cover: 1.155%
Break-even: never at this rate

Slippage from GRVT: live order book, 5 min ago; Bybit: live order book, 4 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 GRVT live order book, 5 min ago	4.21 bp	35.3 bp −$35	85.7 bp −$857	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	4.63 bp	27.1 bp −$27	88.1 bp −$881	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	+0.0017%	4h	0.01191	−0.168%	$1.0M	$2.3M	20x	as long as short
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	−1.928%	$2K	$31K	5.5x	as long as short
Lighter ZK	+0.0096%	1h	0.01193	+0.025%	$138K	$180K	8x	as long as short
BloFin ZK-USDT	+0.0100%	4h	0.01192	−0.067%	$218K	$21K	75x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01192	−0.075%	$592K	$204K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01192	−0.044%	$32K	$21K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01191	−0.168%	$30K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01192	−0.092%	$4.9M	$8.5M	75x	as long as short
Bybit ZKUSDTshort	+0.0100%	4h	0.01191	−0.176%	$5.1M	$2.5M	25x
Gate ZK_USDT	+0.0100%	8h	0.01192	−0.084%	$328K	$246K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ZKUSDTM	+0.0100%	4h	0.01191	−0.168%	$981K	$1.4M	50x	as long as short
Bitget ZKUSDT	+0.0100%	4h	0.01192	−0.084%	$1.5M	$848K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01191	−0.151%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01193	+0.024%	$58K	$15K	—	as long as short
GRVT ZK_USDT_Perplong	+0.0100%	4h	0.01193	long leg	$159K	$2.4M	10x
ApeX Omni ZKUSDT	+0.0100%	1h	0.01185	−0.671%	$8K	$616K	50x	as long as short
Kraken Futures PF_ZKUSD	+0.1907%	1h	0.01198	+0.450%	$197K	$38K	25x	as long as short