Funding arb · Price arb /

ZK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.013%

Price spread now: KuCoin against OKX−0.159%7-day average +0.054% · you buy dearer than you sell

Net, funding: paid 7d − costs−$246as in the Funding arb table

Net, price: spread back to 7d avg − costs−$268as in the Price arb table

costs, in and out, $10k−$2472.466% of the position

Long on OKX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.005%+$1 on $10k

Price spread, last 7 days+0.289%+$29 · spread now −0.159%, 7d avg +0.054%

Together, before fees+0.294%+$29 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: KuCoin is 0.213% cheaper against OKX than usual: you would sell low and buy high, −$21 on $10k if it goes back to its 7-day average of +0.054%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ZK-USDT-SWAP	0.01194	0.0100	pay 0.0050% / 4h	2h 55m	$1.0M	$2.1M	20x
Short	KuCoin ZKUSDTM	0.01192	0.0100	get 0.0050% / 4h	2h 55m	$966K	$1.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.159%Rate

Funding earned: $0
Price spread: −0.159% → +0.054%: −$21.3
Slippage, 4 orders: −$224.6
Fee OKX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$267.9
Costs to cover: 2.466%
Break-even: never at this rate

Slippage from OKX: live order book, 1 min ago; KuCoin: live order book, 10 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, 1 min ago	3.75 bp	21.0 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 10 min ago	12.38 bp	94.7 bp −$95	178.0 bp −$1,780	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	−2.002%	$2K	$31K	5.5x	as long as short
Lighter ZK	+0.0096%	1h	0.01198	+0.377%	$127K	$175K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01200	+0.503%	$600K	$170K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01196	+0.149%	$33K	$22K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01195	+0.092%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01193	−0.067%	$4.9M	$7.8M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01193	−0.042%	$5.1M	$2.5M	25x	as long as short
OKX ZK-USDT-SWAPlong	+0.0100%	4h	0.01194	long leg	$1.0M	$2.1M	20x
Gate ZK_USDT	+0.0100%	8h	0.01199	+0.427%	$301K	$253K	50x	as long as short
KuCoin ZKUSDTMshort	+0.0100%	4h	0.01192	−0.159%	$966K	$1.7M	50x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ZKUSDT	+0.0100%	4h	0.01194	+0.008%	$1.4M	$835K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01193	−0.067%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01200	+0.508%	$58K	$8K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01211	+1.432%	$162K	$2.1M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01210	+1.349%	$8K	$633K	50x	as long as short
BloFin ZK-USDT	+0.0126%	4h	0.01201	+0.637%	$216K	$26K	75x	as long as short
Kraken Futures PF_ZKUSD	+0.4517%	1h	0.01210	+1.309%	$211K	$42K	25x	as long as short