Funding arb · Price arb /

ZK

all ZK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0129%/8h= −14.1% APRpaid last 24h −0.014%

Price spread now: OKX against ApeX Omni+0.034%80s7-day average −0.108% · you sell dearer than you buy

Net, funding: paid 7d − costs−$98as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$950.954% of the position

Long on ApeX Omni Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.025%−$2 on $10k

Price spread, last 4 days (all we have)−0.486%−$49 · spread now +0.034%, 7d avg −0.108%

Together, before fees−0.510%−$51 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.142% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.034% now, against its 7-day average of −0.108%): +$14 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 3.7 days. At the pace of the last 7 days (−0.025% in total) that is about 41 days. The two prices were read 80 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ZKUSDT	0.01176	0.0100	pay 0.0013% / 1h	42m 12s	$8K	$627K	50x
Short	OKX ZK-USDT-SWAP	0.01176	−0.0029	pay 0.0014% / 4h	1h 42m	$1.0M	$2.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.034%Rate

Funding earned: −$27.03
Price spread: +0.034% → −0.108%: $14.19
Slippage, 4 orders: −$75.38
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$108.21
Costs to cover: 0.954%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 66 min ago; OKX: live order book, 5 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, 66 min ago	12.80 bp	22.1 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	3.84 bp	24.9 bp −$25	doesn't fit	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-SWAPshort	−0.0029%	4h	0.01176	+0.034%	$1.0M	$2.1M	20x
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	−0.510%	$2K	$31K	5.5x	as long as short
BloFin ZK-USDT	+0.0041%	4h	0.01178	+0.179%	$214K	$19K	75x	as long as short
Lighter ZK	+0.0096%	1h	0.01179	+0.230%	$128K	$194K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01178	+0.170%	$585K	$177K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01177	+0.098%	$31K	$21K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01178	+0.145%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01177	+0.097%	$4.9M	$8.0M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01177	+0.111%	$5.1M	$2.4M	25x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01177	+0.085%	$300K	$260K	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	0.01176	0.000%	$970K	$1.5M	50x	as long as short
Bitget ZKUSDT	+0.0100%	4h	0.01177	+0.085%	$1.4M	$895K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01177	+0.051%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01172	−0.302%	$57K	$13K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01175	−0.112%	$162K	$2.3M	10x	as long as short
ApeX Omni ZKUSDTlong	+0.0100%	1h	0.01176	long leg	$8K	$627K	50x
Kraken Futures PF_ZKUSD	+0.1640%	1h	0.01180	+0.353%	$201K	$42K	25x	as long as short