Funding arb · Price arb /

ZKP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.078%

Price spread now: Gate against OKX−0.242%7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$290as in the Funding arb table

Net, price: spread back to 7d avg − costs−$363as in the Price arb table

costs, in and out, $10k−$3403.399% of the position

Long on OKX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.495%+$50 on $10k

Price spread, last 4 days (all we have)+0.207%+$21 · spread now −0.242%, 7d avg −0.015%

Together, before fees+0.702%+$70 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: Gate is 0.227% cheaper against OKX than usual: you would sell low and buy high, −$23 on $10k if it goes back to its 7-day average of −0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ZKP-USDT-SWAP	0.04960	0.0100	pay 0.0050% / 4h	2h 50m	$327K	$566K	20x
Short	Gate ZKP_USDT	0.04948	0.0100	get 0.0050% / 4h	2h 50m	$329K	$178K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.242%Rate

Funding earned: $0
Price spread: −0.242% → −0.015%: −$22.7
Slippage, 4 orders: −$314.9
Fee OKX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$362.6
Costs to cover: 3.399%
Break-even: never at this rate

Slippage from OKX: live order book, 16 min ago; Gate: live order book, 15 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, 16 min ago	3.00 bp	42.1 bp −$42	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 15 min ago	12.02 bp	42.8 bp −$43	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
BloFin ZKP-USDT	+0.0093%	4h	0.04949	−0.222%	$219K	$40K	40x	as long as short
Binance ZKPUSDT	+0.0100%	4h	0.04961	+0.018%	$2.7M	$2.7M	40x	as long as short
Bybit ZKPUSDT	+0.0100%	4h	0.04951	−0.181%	$1.2M	$975K	25x	as long as short
OKX ZKP-USDT-SWAPlong	+0.0100%	4h	0.04960	long leg	$327K	$566K	20x
Gate ZKP_USDTshort	+0.0100%	4h	0.04948	−0.242%	$329K	$178K	25x
MEXC ZKP_USDT	+0.0100%	4h	0.04960	0.000%	$1.2M	$190K	20x	as long as short
KuCoin ZKPUSDTM	+0.0100%	4h	0.04951	−0.181%	$580K	$536K	20x	as long as short
Bitget ZKPUSDT	+0.0100%	4h	0.04949	−0.222%	$288K	$257K	20x	as long as short
BingX ZKP-USDT	+0.0100%	4h	0.04953	−0.141%	—	$6.6M	—	as long as short
Aster ZKPUSDT	+0.0367%	4h	0.04950	−0.202%	$23K	$80K	5x	as long as short