Funding arb · Price arb /

ZK

all ZK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0029%/8h= −3.2% APRpaid last 24h −0.001%

Price spread now: BloFin against ApeX Omni−0.204%7-day average −0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs−$86as in the Funding arb table

Net, price: spread back to 7d avg − costs−$104as in the Price arb table

costs, in and out, $10k−$860.865% of the position

Long on ApeX Omni Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.360%+$36 · spread now −0.204%, 7d avg −0.032%

Together, before fees+0.363%+$36 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and BloFin is 0.172% cheaper against ApeX Omni than usual: you would sell low and buy high (−$17 if the spread goes back to its 7-day average of −0.032%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ZKUSDT	0.01177	0.0100	pay 0.0013% / 1h	26m 12s	$9K	$620K	50x
Short	BloFin ZK-USDT	0.01175	0.0071	get 0.0035% / 4h	1h 26m	$216K	$20K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against ApeX Omni. 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 ApeX OmnibpFee BloFinbpOrdersPrice spread, now −0.204%Rate

Funding earned: −$6.18
Price spread: −0.204% → −0.032%: −$17.16
Slippage, 4 orders: −$64.48
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$109.82
Costs to cover: 0.865%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 37 min ago; BloFin: live order book, 12 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 ApeX Omni live order book, 37 min ago	12.79 bp	24.5 bp −$25	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 12 min ago	5.13 bp	12.9 bp −$13	39.6 bp −$396	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
OKX ZK-USDT-SWAP	−0.0050%	4h	0.01172	−0.382%	$1.0M	$2.2M	20x	as long as short
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	−0.595%	$2K	$31K	5.5x	as long as short
BloFin ZK-USDTshort	+0.0071%	4h	0.01175	−0.204%	$216K	$20K	75x
Lighter ZK	+0.0096%	1h	0.01175	−0.136%	$136K	$182K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01175	−0.144%	$585K	$221K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01174	−0.282%	$31K	$20K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01174	−0.255%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01174	−0.258%	$4.9M	$8.6M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01173	−0.365%	$5.0M	$2.5M	25x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01173	−0.340%	$327K	$233K	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	0.01173	−0.340%	$978K	$1.3M	50x	as long as short
Bitget ZKUSDT	+0.0100%	4h	0.01174	−0.255%	$1.5M	$832K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01173	−0.340%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01175	−0.144%	$57K	$15K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01175	−0.168%	$155K	$2.5M	10x	as long as short
ApeX Omni ZKUSDTlong	+0.0100%	1h	0.01177	long leg	$9K	$620K	50x
Kraken Futures PF_ZKUSD	+0.1599%	1h	0.01177	−0.020%	$193K	$39K	25x	as long as short