Funding arb · Price arb /

ZK

all ZK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.1220%/8h= −133.6% APRpaid last 24h −0.550%

Price spread now: GRVT against Kraken Futures−0.550%7-day average −0.208% · you buy dearer than you sell

Net, funding: paid 7d − costs−$370as in the Funding arb table

Net, price: spread back to 7d avg − costs−$267as in the Price arb table

costs, in and out, $10k−$2332.333% of the position

Long on Kraken Futures Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−1.368%−$137 on $10k

Price spread, last 4 days (all we have)+0.306%+$31 · spread now −0.550%, 7d avg −0.208%

Together, before fees−1.062%+ Points / potential airdropGRVT: Active · farm board−$106 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$37 a day on $10k at the current rate, and GRVT is 0.342% cheaper against Kraken Futures than usual: you would sell low and buy high (−$34 if the spread goes back to its 7-day average of −0.208%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ZKUSD	0.01190	0.1320	pay 0.0165% / 1h	54m 25s	$196K	$38K	25x
Short	GRVT ZK_USDT_Perp	0.01184	0.0100	get 0.0050% / 4h	3h 54m	$161K	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.550%Rate

Funding earned: −$256.25
Price spread: −0.550% → −0.208%: −$34.16
Slippage, 4 orders: −$214.33
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$523.74
Costs to cover: 2.333%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 63 min ago; GRVT: 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, 63 min ago	26.25 bp	110.6 bp −$111	16643.9 bp −$166.4K	doesn't fit	doesn't fit
Sell GRVT live order book, 4 min ago	4.22 bp	17.1 bp −$17	92.8 bp −$928	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	0.01185	−0.446%	$1.0M	$2.2M	20x	as long as short
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	−1.706%	$2K	$31K	5.5x	as long as short
BloFin ZK-USDT	+0.0081%	4h	0.01183	−0.656%	$217K	$21K	75x	as long as short
Lighter ZK	+0.0096%	1h	0.01188	−0.169%	$136K	$181K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01187	−0.278%	$591K	$187K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01187	−0.292%	$32K	$21K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01187	−0.278%	$30K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01187	−0.319%	$4.9M	$8.3M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01185	−0.404%	$5.1M	$2.4M	25x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01187	−0.278%	$327K	$240K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ZKUSDTM	+0.0100%	4h	0.01185	−0.446%	$981K	$1.4M	50x	as long as short
Bitget ZKUSDT	+0.0100%	4h	0.01186	−0.362%	$1.5M	$844K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01186	−0.371%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01182	−0.686%	$57K	$15K	—	as long as short
GRVT ZK_USDT_Perpshort	+0.0100%	4h	0.01184	−0.550%	$161K	$2.4M	10x
ApeX Omni ZKUSDT	+0.0100%	1h	0.01184	−0.530%	$8K	$618K	50x	as long as short
Kraken Futures PF_ZKUSDlong	+0.1320%	1h	0.01190	long leg	$196K	$38K	25x