Funding arb · Price arb /

ZK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.017%

Price spread now: Injective against KuCoin−1.099%100s7-day average — · you buy dearer than you sell

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

Long on KuCoin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 1.099% cheaper against KuCoin than usual: you would sell low and buy high (−$110 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 100 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	0.01183	0.0100	pay 0.0050% / 4h	47m 39s	$996K	$1.0M	50x
Short	Injective ZK/USDC PERP	0.01170	0.0033	get 0.0004% / 1h	47m 39s	$2K	$31K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −1.099%Rate

Funding earned: −$14
Price spread: −1.099% → 0.000%: −$109.89
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$135.91
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 7 min ago; Injective: 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 KuCoin live order book, 7 min ago	4.24 bp	85.3 bp −$85	181.9 bp −$1,819	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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
Injective ZK/USDC PERPshort	+0.0033%	1h	0.01170	−1.099%	$2K	$31K	5.5x
OKX ZK-USDT-SWAP	+0.0054%	4h	0.01182	−0.127%	$984K	$2.3M	20x	as long as short
Lighter ZK	+0.0096%	1h	0.01186	+0.228%	$129K	$165K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01185	+0.152%	$601K	$238K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01184	+0.098%	$37K	$19K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01184	+0.042%	$30K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01183	−0.006%	$4.8M	$9.8M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01183	+0.008%	$5.0M	$2.6M	25x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01184	+0.085%	$323K	$244K	50x	as long as short
KuCoin ZKUSDTMlong	+0.0100%	4h	0.01183	long leg	$996K	$1.0M	50x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ZKUSDT	+0.0100%	4h	0.01184	+0.085%	$1.5M	$857K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01183	−0.025%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01184	+0.114%	$58K	$15K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01187	+0.338%	$155K	$2.8M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01184	+0.085%	$8K	$628K	50x	as long as short
BloFin ZK-USDT	+0.0126%	4h	0.01187	+0.313%	$213K	$25K	75x	as long as short
Kraken Futures PF_ZKUSD	+0.1402%	1h	0.01187	+0.354%	$195K	$44K	25x	as long as short