Funding arb · Price arb /

ZK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.020%

Price spread now: Hyperliquid against GRVT+0.185%7-day average −0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$108as in the Funding arb table

Net, price: spread back to 7d avg − costs−$86as in the Price arb table

costs, in and out, $10k−$1071.066% of the position

Long on GRVT Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.010%−$1 on $10k

Price spread, last 4 days (all we have)+0.058%+$6 · spread now +0.185%, 7d avg −0.017%

Together, before fees+0.049%+ Points / potential airdropGRVT: Active · Hyperliquid: Season 2 · farm board+$5 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: Hyperliquid is 0.202% dearer against GRVT than usual: you sell high and buy low, +$20 on $10k if it goes back to its 7-day average of −0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT ZK_USDT_Perp	0.01165	0.0100	pay 0.0050% / 4h	1h 21m	$151K	$2.8M	10x
Short	Hyperliquid ZK	0.01167	0.0100	get 0.0013% / 1h	21m 07s	$586K	$235K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.185%Rate

Funding earned: $0
Price spread: +0.185% → −0.017%: $20.17
Slippage, 4 orders: −$88.59
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$86.42
Costs to cover: 1.066%
Break-even: never at this rate

Slippage from GRVT: live order book, 3 min ago; Hyperliquid: live order book, 59 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, 3 min ago	4.29 bp	52.2 bp −$52	205.2 bp −$2,052	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 59 min ago	1.28 bp	17.9 bp −$18	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	−0.0019%	4h	0.01165	−0.004%	$941K	$2.3M	20x	as long as short
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	+0.425%	$2K	$31K	5.5x	as long as short
BloFin ZK-USDT	+0.0049%	4h	0.01164	−0.072%	$211K	$24K	75x	as long as short
Lighter ZK	+0.0096%	1h	0.01168	+0.271%	$127K	$165K	8x	as long as short
Hyperliquid ZKshort	+0.0100%	1h	0.01167	+0.185%	$586K	$235K	5x
Aster ZKUSDT	+0.0100%	4h	0.01166	+0.103%	$36K	$19K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01166	+0.056%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01166	+0.094%	$4.7M	$9.8M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01165	+0.005%	$5.0M	$2.6M	25x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01165	−0.004%	$318K	$247K	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	0.01165	−0.004%	$986K	$993K	50x	as long as short
Bitget ZKUSDT	+0.0100%	4h	0.01166	+0.082%	$1.5M	$859K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01165	+0.031%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01163	−0.184%	$57K	$15K	—	as long as short
GRVT ZK_USDT_Perplong	+0.0100%	4h	0.01165	long leg	$151K	$2.8M	10x
ApeX Omni ZKUSDT	+0.0100%	1h	0.01164	−0.090%	$8K	$621K	50x	as long as short
Kraken Futures PF_ZKUSD	+0.1295%	1h	0.01168	+0.267%	$193K	$43K	25x	as long as short