Funding arb · Price arb /

ZK

all ZK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.013%

Price spread now: ApeX Omni against OKX+0.050%100s7-day average +0.105% · you sell dearer than you buy

Net, funding: paid 7d − costs−$100as 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−$1001.000% of the position

Long on OKX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.004%$0 on $10k

Price spread, last 4 days (all we have)+0.709%+$71 · spread now +0.050%, 7d avg +0.105%

Together, before fees+0.713%+$71 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 0.055% cheaper against OKX than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.105%. 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	OKX ZK-USDT-SWAP	0.01191	0.0100	pay 0.0050% / 4h	1h 29m	$999K	$2.2M	20x
Short	ApeX Omni ZKUSDT	0.01192	0.0100	get 0.0013% / 1h	29m 50s	$8K	$634K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against OKX. 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 OKXbpFee ApeX OmnibpOrdersPrice spread, now +0.050%Rate

Funding earned: $0
Price spread: +0.050% → +0.105%: −$5.48
Slippage, 4 orders: −$80.05
Fee OKX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$105.53
Costs to cover: 1.000%
Break-even: never at this rate

Slippage from OKX: live order book, 5 min ago; ApeX Omni: live order book, 16 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 OKX live order book, 5 min ago	2.95 bp	31.2 bp −$31	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 16 min ago	12.55 bp	23.0 bp −$23	doesn't fit	doesn't fit	doesn't fit

ZK on 17 exchanges

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 PERP	+0.0033%	1h	0.01170	−1.796%	$2K	$31K	5.5x	as long as short
BloFin ZK-USDT	+0.0077%	4h	0.01188	−0.260%	$213K	$27K	75x	as long as short
Lighter ZK	+0.0096%	1h	0.01192	+0.059%	$129K	$181K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01192	+0.084%	$587K	$174K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01192	+0.050%	$33K	$20K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01192	+0.050%	$29K	$2K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01192	+0.092%	$4.9M	$7.8M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01191	−0.034%	$5.1M	$2.5M	25x	as long as short
OKX ZK-USDT-SWAPlong	+0.0100%	4h	0.01191	long leg	$999K	$2.2M	20x
Gate ZK_USDT	+0.0100%	8h	0.01192	+0.050%	$304K	$270K	50x	as long as short

Show all 17 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ZKUSDTM	+0.0100%	4h	0.01191	−0.034%	$959K	$1.8M	50x	as long as short
Bitget ZKUSDT	+0.0100%	4h	0.01192	+0.050%	$1.5M	$869K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01191	−0.042%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01190	−0.116%	$57K	$4K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01190	−0.156%	$161K	$1.9M	10x	as long as short
ApeX Omni ZKUSDTshort	+0.0100%	1h	0.01192	+0.050%	$8K	$634K	50x
Kraken Futures PF_ZKUSD	+4.0318%	1h	0.01190	−0.156%	$209K	$54K	25x	as long as short