Funding arb · Price arb /

ZK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Hyperliquid against KuCoin+0.169%7-day average +0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$202as in the Funding arb table

Net, price: spread back to 7d avg − costs−$188as in the Price arb table

costs, in and out, $10k−$2032.030% of the position

Long on KuCoin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.007%+$1 on $10k

Price spread, last 4 days (all we have)−0.206%−$21 · spread now +0.169%, 7d avg +0.021%

Together, before fees−0.199%+ Points / potential airdropHyperliquid: Season 2 · farm board−$20 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: Hyperliquid is 0.149% dearer against KuCoin than usual: you sell high and buy low, +$15 on $10k if it goes back to its 7-day average of +0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ZKUSDTM	0.01181	0.0100	pay 0.0050% / 4h	4m 54s	$989K	$1.1M	50x
Short	Hyperliquid ZK	0.01183	0.0100	get 0.0013% / 1h	4m 54s	$601K	$238K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.169%Rate

Funding earned: $0
Price spread: +0.169% → +0.021%: $14.88
Slippage, 4 orders: −$182.01
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$188.13
Costs to cover: 2.030%
Break-even: never at this rate

Slippage from KuCoin: live order book, 5 min ago; Hyperliquid: live order book, 65 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, 5 min ago	8.48 bp	74.7 bp −$75	184.9 bp −$1,849	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 65 min ago	1.28 bp	15.3 bp −$15	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	−0.0057%	4h	0.01183	+0.178%	$994K	$2.4M	20x	as long as short
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	−0.931%	$2K	$31K	5.5x	as long as short
BloFin ZK-USDT	+0.0063%	4h	0.01180	−0.085%	$214K	$24K	75x	as long as short
Lighter ZK	+0.0096%	1h	0.01183	+0.161%	$129K	$169K	8x	as long as short
Hyperliquid ZKshort	+0.0100%	1h	0.01183	+0.169%	$601K	$238K	5x
Aster ZKUSDT	+0.0100%	4h	0.01182	+0.056%	$37K	$19K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01179	−0.127%	$30K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01184	+0.254%	$4.8M	$9.8M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01184	+0.220%	$5.0M	$2.7M	25x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01182	+0.085%	$322K	$247K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ZKUSDTMlong	+0.0100%	4h	0.01181	long leg	$989K	$1.1M	50x
Bitget ZKUSDT	+0.0100%	4h	0.01182	+0.085%	$1.5M	$866K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01183	+0.186%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01178	−0.276%	$57K	$15K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01179	−0.169%	$162K	$2.8M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01178	−0.254%	$9K	$628K	50x	as long as short
Kraken Futures PF_ZKUSD	+0.1405%	1h	0.01184	+0.256%	$195K	$44K	25x	as long as short