Funding arb · Price arb /

ZK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.1826%/8h= −199.9% APRpaid last 24h −0.550%

Price spread now: Aster against Kraken Futures−0.201%7-day average — · you buy dearer than you sell

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

Long on Kraken Futures Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$55 a day on $10k at the current rate, and Aster is 0.201% cheaper against Kraken Futures than usual: you would sell low and buy high (−$20 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ZKUSD	0.01186	0.1926	pay 0.0241% / 1h	47m 38s	$195K	$39K	25x
Short	Aster ZKUSDT	0.01184	0.0100	get 0.0050% / 4h	47m 38s	$32K	$21K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Kraken Futures. 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 Kraken FuturesbpFee AsterbpOrdersPrice spread, now −0.201%Rate

Funding earned: −$383.42
Price spread: −0.201% → 0.000%: −$20.05
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$421.47
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 10 min ago; Aster: 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 Kraken Futures live order book, 10 min ago	26.25 bp	110.6 bp −$111	16643.9 bp −$166.4K	doesn't fit	doesn't fit
Sell Aster no order-book sample	—	—	—	—	—

Aster: 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	+0.0007%	4h	0.01185	−0.113%	$1.0M	$2.3M	20x	as long as short
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	−1.385%	$2K	$31K	5.5x	as long as short
Lighter ZK	+0.0096%	1h	0.01186	−0.037%	$137K	$179K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01186	−0.054%	$588K	$222K	5x	as long as short
Aster ZKUSDTshort	+0.0100%	4h	0.01184	−0.201%	$32K	$21K	10x
Pacifica ZK	+0.0100%	1h	0.01185	−0.121%	$30K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01187	+0.028%	$4.9M	$8.6M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01186	−0.045%	$5.1M	$2.5M	25x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01185	−0.121%	$331K	$230K	50x	as long as short
KuCoin ZKUSDTM	+0.0100%	4h	0.01183	−0.290%	$976K	$1.3M	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	0.01185	−0.121%	$1.5M	$836K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01186	−0.045%	—	$6.6M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01184	−0.227%	$58K	$15K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01183	−0.285%	$157K	$2.4M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01181	−0.458%	$8K	$618K	50x	as long as short
BloFin ZK-USDT	+0.0138%	4h	0.01182	−0.382%	$217K	$21K	75x	as long as short
Kraken Futures PF_ZKUSDlong	+0.1926%	1h	0.01186	long leg	$195K	$39K	25x