Funding arb · Price arb /

ZKP

all ZKP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.004%

Price spread now: Bybit against MEXC−0.121%7-day average −0.070% · you buy dearer than you sell

Net, funding: paid 7d − costs−$158as in the Funding arb table

Net, price: spread back to 7d avg − costs−$163as in the Price arb table

costs, in and out, $10k−$1581.581% of the position

Long on MEXC Short on Bybit

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)+0.223%+$22 · spread now −0.121%, 7d avg −0.070%

Together, before fees+0.219%+$22 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 0.051% cheaper against MEXC than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.070%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ZKP_USDT	0.04970	0.0100	pay 0.0050% / 4h	51m 40s	$1.2M	$181K	20x
Short	Bybit ZKPUSDT	0.04964	0.0100	get 0.0050% / 4h	51m 40s	$1.2M	$982K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against MEXC. 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 MEXCbpFee BybitbpOrdersPrice spread, now −0.121%Rate

Funding earned: $0
Price spread: −0.121% → −0.070%: −$5.12
Slippage, 4 orders: −$143.08
Fee MEXC: 2 bp × 2 orders: −$4
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$163.2
Costs to cover: 1.581%
Break-even: never at this rate

Slippage from MEXC: live order book, 9 min ago; Bybit: live order book, 4 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 MEXC live order book, 9 min ago	2.01 bp	9.3 bp −$9	55.3 bp −$553	341.0 bp −$34.1K	doesn't fit
Sell Bybit live order book, 4 min ago	3.02 bp	60.1 bp −$60	doesn't fit	doesn't fit	doesn't fit

ZKP on 10 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
Binance ZKPUSDT	+0.0100%	4h	0.04968	−0.032%	$2.7M	$2.7M	40x	as long as short
Bybit ZKPUSDTshort	+0.0100%	4h	0.04964	−0.121%	$1.2M	$982K	25x
OKX ZKP-USDT-SWAP	+0.0100%	4h	0.04978	+0.161%	$335K	$546K	20x	as long as short
Gate ZKP_USDT	+0.0100%	4h	0.04962	−0.161%	$326K	$179K	25x	as long as short
MEXC ZKP_USDTlong	+0.0100%	4h	0.04970	long leg	$1.2M	$181K	20x
KuCoin ZKPUSDTM	+0.0100%	4h	0.04968	−0.040%	$583K	$544K	20x	as long as short
Bitget ZKPUSDT	+0.0100%	4h	0.04972	+0.040%	$288K	$255K	20x	as long as short
BingX ZKP-USDT	+0.0100%	4h	0.04970	0.000%	—	$6.6M	—	as long as short
BloFin ZKP-USDT	+0.0130%	4h	0.04986	+0.322%	$222K	$37K	40x	as long as short
Aster ZKPUSDT	+0.0349%	4h	0.04964	−0.116%	$23K	$80K	5x	as long as short