Funding arb · Price arb /

ZK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0034%/8h= −3.7% APRpaid last 24h +0.007%

Price spread now: OKX against Injective+0.923%78s7-day average — · you sell dearer than you buy

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

Long on Injective Short on OKX

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—needs both histories

The price spread pays, funding is against you. OKX is 0.923% dearer against Injective than usual: you sell high and buy low (spread +0.923% now, against zero (this spread has no 7-day history yet)): +$92 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3 months. The two prices were read 78 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	Injective ZK/USDC PERP	0.01170	0.0033	pay 0.0004% / 1h	56m 04s	$2K	$31K	5.5x
Short	OKX ZK-USDT-SWAP	0.01181	−0.0001	pay 0.0000% / 4h	3h 56m	$1.0M	$2.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Injective. 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 InjectivebpFee OKXbpOrdersPrice spread, now +0.923%Rate

Funding earned: −$7.18
Price spread: +0.923% → 0.000%: $92.31
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee OKX: 5 bp × 2 orders: −$10
Net: $75.11
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; OKX: live order book, 1 min ago. 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 Injective no order-book sample	—	—	—	—	—
Sell OKX live order book, 1 min ago	4.65 bp	23.9 bp −$24	doesn't fit	doesn't fit	doesn't fit

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-SWAPshort	−0.0001%	4h	0.01181	+0.923%	$1.0M	$2.2M	20x
Injective ZK/USDC PERPlong	+0.0033%	1h	0.01170	long leg	$2K	$31K	5.5x
Lighter ZK	+0.0096%	1h	0.01185	+1.274%	$136K	$181K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01183	+1.128%	$589K	$188K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01183	+1.148%	$32K	$21K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01182	+1.034%	$30K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01183	+1.084%	$4.9M	$8.3M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01182	+0.983%	$5.1M	$2.4M	25x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01183	+1.111%	$325K	$240K	50x	as long as short
KuCoin ZKUSDTM	+0.0100%	4h	0.01182	+1.026%	$978K	$1.4M	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	0.01183	+1.111%	$1.5M	$843K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01182	+1.009%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01182	+1.038%	$57K	$15K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01184	+1.197%	$161K	$2.4M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01184	+1.197%	$8K	$618K	50x	as long as short
BloFin ZK-USDT	+0.0152%	4h	0.01183	+1.068%	$217K	$21K	75x	as long as short
Kraken Futures PF_ZKUSD	+0.1315%	1h	0.01195	+2.112%	$196K	$38K	25x	as long as short