Funding arb · Price arb /

ZK

all ZK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.1545%/8h= −169.1% APRpaid last 24h −0.576%

Price spread now: Gate against Kraken Futures−0.268%7-day average −0.218% · you buy dearer than you sell

Net, funding: paid 7d − costs−$357as in the Funding arb table

Net, price: spread back to 7d avg − costs−$210as in the Price arb table

costs, in and out, $10k−$2062.055% of the position

Long on Kraken Futures Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−1.519%−$152 on $10k

Price spread, last 4 days (all we have)+0.060%+$6 · spread now −0.268%, 7d avg −0.218%

Together, before fees−1.459%−$146 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$46 a day on $10k at the current rate, and Gate is 0.050% cheaper against Kraken Futures than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.218%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ZKUSD	0.01177	0.1645	pay 0.0206% / 1h	35m 47s	$201K	$41K	25x
Short	Gate ZK_USDT	0.01174	0.0100	get 0.0100% / 8h	1h 35m	$299K	$260K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.268%Rate

Funding earned: −$324.37
Price spread: −0.268% → −0.218%: −$4.95
Slippage, 4 orders: −$180.52
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$534.85
Costs to cover: 2.055%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 7 min ago; Gate: live order book, 4 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 Kraken Futures live order book, 7 min ago	31.84 bp	83.2 bp −$83	17325.2 bp −$173.3K	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	8.51 bp	39.7 bp −$40	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	−0.0004%	4h	0.01175	−0.149%	$998K	$2.1M	20x	as long as short
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	−0.608%	$2K	$31K	5.5x	as long as short
BloFin ZK-USDT	+0.0046%	4h	0.01178	+0.055%	$213K	$19K	75x	as long as short
Lighter ZK	+0.0096%	1h	0.01176	−0.123%	$128K	$194K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01176	−0.089%	$584K	$175K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01175	−0.186%	$31K	$21K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01175	−0.183%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01175	−0.144%	$4.9M	$8.0M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01175	−0.174%	$5.1M	$2.4M	25x	as long as short
Gate ZK_USDTshort	+0.0100%	8h	0.01174	−0.268%	$299K	$260K	50x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ZKUSDTM	+0.0100%	4h	0.01174	−0.268%	$968K	$1.5M	50x	as long as short
Bitget ZKUSDT	+0.0100%	4h	0.01176	−0.098%	$1.4M	$893K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01175	−0.157%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01174	−0.230%	$57K	$13K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01179	+0.125%	$163K	$2.3M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01178	+0.072%	$8K	$627K	50x	as long as short
Kraken Futures PF_ZKUSDlong	+0.1645%	1h	0.01177	long leg	$201K	$41K	25x