Funding arb · Price arb /

ZK

all ZK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.1389%/8h= +152.1% APRpaid last 24h +0.600%

Price spread now: Kraken Futures against GRVT+0.160%7-day average +0.193% · you sell dearer than you buy

Net, funding: paid 7d − costs−$105as in the Funding arb table

Net, price: spread back to 7d avg − costs−$241as in the Price arb table

costs, in and out, $10k−$2382.382% of the position

Long on GRVT Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+1.327%+$133 on $10k

Price spread, last 3 days (all we have)+0.084%+$8 · spread now +0.160%, 7d avg +0.193%

Together, before fees+1.411%+ Points / potential airdropGRVT: Active · farm board+$141 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.033% cheaper against GRVT than usual: you would sell low and buy high (spread +0.160% now, against its 7-day average of +0.193%). If the spread goes back, that is −$3 on $10k: about 2 hours of funding at the current rate (+$42 a day). At the pace of the last 7 days (+1.327% in total) that is about 4 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT ZK_USDT_Perp	0.01170	0.0100	pay 0.0050% / 4h	2h 20m	$155K	$2.9M	10x
Short	Kraken Futures PF_ZKUSD	0.01172	0.1489	get 0.0186% / 1h	20m 36s	$194K	$44K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.160%Rate

Funding earned: $291.69
Price spread: +0.160% → +0.193%: −$3.28
Slippage, 4 orders: −$219.18
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $50.24
Costs to cover: 2.382%
Break-even: 5.8 days

Slippage from GRVT: live order book, 3 min ago; Kraken Futures: live order book, 2 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	4.27 bp	45.0 bp −$45	168.2 bp −$1,682	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 2 min ago	36.71 bp	53.4 bp −$53	256.5 bp −$2,565	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
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	0.000%	$2K	$31K	5.5x	as long as short
Lighter ZK	+0.0096%	1h	0.01172	+0.145%	$119K	$159K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01171	+0.111%	$587K	$237K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01170	+0.020%	$36K	$19K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01170	0.000%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01170	−0.023%	$4.7M	$9.9M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01168	−0.128%	$5.0M	$2.7M	25x	as long as short
OKX ZK-USDT-SWAP	+0.0100%	4h	0.01168	−0.171%	$950K	$2.3M	20x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01169	−0.085%	$317K	$256K	50x	as long as short
KuCoin ZKUSDTM	+0.0100%	4h	0.01170	0.000%	$992K	$955K	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	0.01170	0.000%	$1.5M	$852K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01169	−0.068%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01168	−0.136%	$57K	$20K	—	as long as short
GRVT ZK_USDT_Perplong	+0.0100%	4h	0.01170	long leg	$155K	$2.9M	10x
ApeX Omni ZKUSDT	+0.0100%	1h	0.01170	0.000%	$8K	$622K	50x	as long as short
BloFin ZK-USDT	+0.0103%	4h	0.01170	−0.043%	$212K	$35K	75x	as long as short
Kraken Futures PF_ZKUSDshort	+0.1489%	1h	0.01172	+0.160%	$194K	$44K	25x