Funding arb · Price arb /

ZK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.017%

Price spread now: Injective against GRVT+0.785%7-day average — · you sell dearer than you buy

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

Long on GRVT Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

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

The price spread pays, funding is against you. Injective is 0.785% dearer against GRVT than usual: you sell high and buy low (spread +0.785% now, against zero (this spread has no 7-day history yet)): +$78 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 39 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT ZK_USDT_Perp	0.01161	0.0100	pay 0.0050% / 4h	2h 38m	$150K	$2.3M	10x
Short	Injective ZK/USDC PERP	0.01170	0.0033	get 0.0004% / 1h	38m 40s	$2K	$31K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.785%Rate

Funding earned: −$14
Price spread: +0.785% → 0.000%: $78.49
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $55.47
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: GRVT: live order book, 5 min ago; Injective: 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 GRVT live order book, 5 min ago	4.29 bp	24.6 bp −$25	255.2 bp −$2,552	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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	−0.0115%	4h	0.01158	−0.249%	$985K	$2.1M	20x	as long as short
Injective ZK/USDC PERPshort	+0.0033%	1h	0.01170	+0.785%	$2K	$31K	5.5x
Lighter ZK	+0.0096%	1h	0.01160	−0.051%	$125K	$188K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01160	−0.077%	$580K	$175K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01159	−0.126%	$31K	$21K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01159	−0.163%	$28K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01160	−0.111%	$4.8M	$8.0M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01158	−0.206%	$5.0M	$2.3M	25x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01157	−0.335%	$296K	$257K	50x	as long as short
KuCoin ZKUSDTM	+0.0100%	4h	0.01157	−0.335%	$953K	$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	0.01159	−0.163%	$1.4M	$845K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01159	−0.180%	—	$6.6M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01161	+0.010%	$57K	$15K	—	as long as short
GRVT ZK_USDT_Perplong	+0.0100%	4h	0.01161	long leg	$150K	$2.3M	10x
ApeX Omni ZKUSDT	+0.0100%	1h	0.01162	+0.096%	$8K	$623K	50x	as long as short
BloFin ZK-USDT	+0.0110%	4h	0.01158	−0.232%	$212K	$20K	75x	as long as short
Kraken Futures PF_ZKUSD	+0.1284%	1h	0.01161	+0.037%	$191K	$35K	25x	as long as short