Funding arb · Price arb /

ZK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.002%

Price spread now: ApeX Omni against KuCoin−0.085%97s7-day average +0.045% · you buy dearer than you sell

Net, funding: paid 7d − costs−$251as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2502.502% of the position

Long on KuCoin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.003%$0 on $10k

Price spread, last 4 days (all we have)+2.678%+$268 · spread now −0.085%, 7d avg +0.045%

Together, before fees+2.675%+$267 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: ApeX Omni is 0.130% cheaper against KuCoin than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of +0.045%. The two prices were read 97 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	KuCoin ZKUSDTM	0.01171	0.0100	pay 0.0050% / 4h	2h 43m	$974K	$1.2M	50x
Short	ApeX Omni ZKUSDT	0.01170	0.0100	get 0.0013% / 1h	43m 47s	$9K	$626K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against KuCoin. 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 KuCoinbpFee ApeX OmnibpOrdersPrice spread, now −0.085%Rate

Funding earned: $0
Price spread: −0.085% → +0.045%: −$13.03
Slippage, 4 orders: −$228.21
Fee KuCoin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$263.24
Costs to cover: 2.502%
Break-even: never at this rate

Slippage from KuCoin: live order book, 6 min ago; ApeX Omni: live order book, 24 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 KuCoin live order book, 6 min ago	12.80 bp	104.4 bp −$104	203.1 bp −$2,031	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 24 min ago	12.71 bp	23.9 bp −$24	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	−0.0209%	4h	0.01170	−0.102%	$1.0M	$2.4M	20x	as long as short
Bybit ZKUSDT	−0.0180%	4h	0.01171	0.000%	$5.0M	$2.6M	25x	as long as short
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	−0.085%	$2K	$31K	5.5x	as long as short
Lighter ZK	+0.0096%	1h	0.01173	+0.154%	$130K	$175K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01172	+0.120%	$582K	$240K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01172	+0.049%	$36K	$19K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01169	−0.171%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01171	+0.004%	$4.8M	$9.3M	75x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01171	0.000%	$326K	$235K	50x	as long as short
KuCoin ZKUSDTMlong	+0.0100%	4h	0.01171	long leg	$974K	$1.2M	50x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ZKUSDT	+0.0100%	4h	0.01171	0.000%	$1.5M	$865K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01171	−0.017%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01166	−0.430%	$57K	$15K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01172	+0.085%	$155K	$2.6M	10x	as long as short
ApeX Omni ZKUSDTshort	+0.0100%	1h	0.01170	−0.085%	$9K	$626K	50x
BloFin ZK-USDT	+0.0147%	4h	0.01170	−0.060%	$216K	$22K	75x	as long as short
Kraken Futures PF_ZKUSD	+0.0736%	1h	0.01174	+0.259%	$193K	$43K	25x	as long as short