Funding arb · Price arb /

ZK

all ZK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.1500%/8h= +164.3% APRpaid last 24h +0.574%

Price spread now: Kraken Futures against KuCoin+0.295%7-day average +0.189% · you sell dearer than you buy

Net, funding: paid 7d − costs−$189as in the Funding arb table

Net, price: spread back to 7d avg − costs−$309as in the Price arb table

costs, in and out, $10k−$3203.200% of the position

Long on KuCoin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+1.312%+$131 on $10k

Price spread, last 3 days (all we have)−0.098%−$10 · spread now +0.295%, 7d avg +0.189%

Together, before fees+1.214%+$121 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$45 a day on $10k at the current rate, and Kraken Futures is 0.107% dearer against KuCoin than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.189%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ZKUSDTM	0.01172	0.0100	pay 0.0050% / 4h	1h 54m	$973K	$1.2M	50x
Short	Kraken Futures PF_ZKUSD	0.01175	0.1600	get 0.0200% / 1h	54m 49s	$193K	$39K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.295%Rate

Funding earned: $315.06
Price spread: +0.295% → +0.189%: $10.66
Slippage, 4 orders: −$298.01
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $5.71
Costs to cover: 3.200%
Break-even: 6.9 days

Slippage from KuCoin: live order book, 5 min ago; Kraken Futures: live order book, 8 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	8.54 bp	89.0 bp −$89	173.4 bp −$1,734	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 8 min ago	42.99 bp	58.0 bp −$58	243.5 bp −$2,435	doesn't fit	doesn't fit

ZK on 16 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	−0.0098%	4h	0.01172	−0.009%	$1.0M	$2.3M	20x	as long as short
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	−0.171%	$2K	$31K	5.5x	as long as short
Lighter ZK	+0.0096%	1h	0.01175	+0.273%	$136K	$181K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01175	+0.213%	$583K	$230K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01174	+0.131%	$31K	$20K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01174	+0.145%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01173	+0.094%	$4.8M	$8.8M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01173	+0.060%	$5.0M	$2.5M	25x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01173	+0.085%	$327K	$231K	50x	as long as short
KuCoin ZKUSDTMlong	+0.0100%	4h	0.01172	long leg	$973K	$1.2M	50x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ZKUSDT	+0.0100%	4h	0.01174	+0.171%	$1.5M	$850K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01173	+0.094%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01177	+0.402%	$57K	$15K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01171	−0.069%	$155K	$2.6M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01168	−0.341%	$9K	$620K	50x	as long as short
Kraken Futures PF_ZKUSDshort	+0.1600%	1h	0.01175	+0.295%	$193K	$39K	25x