Funding arb · Price arb /

ZK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.012%

Price spread now: Bybit against OKX−0.025%7-day average −0.048% · you buy dearer than you sell

Net, funding: paid 7d − costs−$109as in the Funding arb table

Net, price: spread back to 7d avg − costs−$105as in the Price arb table

costs, in and out, $10k−$1071.070% of the position

Long on OKX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.015%−$1 on $10k

Price spread, last 7 days−0.077%−$8 · spread now −0.025%, 7d avg −0.048%

Together, before fees−0.091%−$9 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: Bybit is 0.023% dearer against OKX than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.048%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ZK-USDT-SWAP	0.01195	0.0100	pay 0.0050% / 4h	1m 40s	$1.0M	$2.1M	20x
Short	Bybit ZKUSDT	0.01194	0.0100	get 0.0050% / 4h	1m 40s	$5.2M	$2.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.025%Rate

Funding earned: $0
Price spread: −0.025% → −0.048%: $2.32
Slippage, 4 orders: −$86.04
Fee OKX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$104.73
Costs to cover: 1.070%
Break-even: never at this rate

Slippage from OKX: live order book, 5 min ago; Bybit: live order book, 1 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	0.42 bp	23.6 bp −$24	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	1.26 bp	29.7 bp −$30	97.5 bp −$975	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
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	−2.051%	$2K	$31K	5.5x	as long as short
BloFin ZK-USDT	+0.0062%	4h	0.01193	−0.109%	$215K	$19K	75x	as long as short
Lighter ZK	+0.0096%	1h	0.01196	+0.159%	$128K	$197K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01196	+0.142%	$595K	$165K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01195	+0.067%	$33K	$23K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01195	+0.042%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01195	+0.031%	$4.9M	$7.9M	75x	as long as short
Bybit ZKUSDTshort	+0.0100%	4h	0.01194	−0.025%	$5.2M	$2.4M	25x
OKX ZK-USDT-SWAPlong	+0.0100%	4h	0.01195	long leg	$1.0M	$2.1M	20x
Gate ZK_USDT	+0.0100%	8h	0.01195	+0.042%	$305K	$265K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ZKUSDTM	+0.0100%	4h	0.01194	−0.042%	$971K	$1.7M	50x	as long as short
Bitget ZKUSDT	+0.0100%	4h	0.01195	+0.042%	$1.4M	$891K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01195	+0.050%	—	$6.6M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01190	−0.344%	$57K	$13K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01192	−0.225%	$156K	$2.1M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01193	−0.126%	$8K	$628K	50x	as long as short
Kraken Futures PF_ZKUSD	+0.2687%	1h	0.01199	+0.384%	$209K	$46K	25x	as long as short