Funding arb · Price arb /

ZK

all ZK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.1541%/8h= +168.8% APRpaid last 24h +0.576%

Price spread now: Kraken Futures against Bitget+0.219%7-day average +0.186% · you sell dearer than you buy

Net, funding: paid 7d − costs−$88as in the Funding arb table

Net, price: spread back to 7d avg − costs−$236as in the Price arb table

costs, in and out, $10k−$2402.395% of the position

Long on Bitget Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+1.519%+$152 on $10k

Price spread, last 4 days (all we have)+0.061%+$6 · spread now +0.219%, 7d avg +0.186%

Together, before fees+1.580%+$158 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$46 a day on $10k at the current rate, and Kraken Futures is 0.033% dearer against Bitget than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.186%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ZKUSDT	0.01177	0.0100	pay 0.0050% / 4h	1h 44m	$1.4M	$895K	75x
Short	Kraken Futures PF_ZKUSD	0.01180	0.1641	get 0.0205% / 1h	44m 54s	$201K	$42K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bitget. 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 BitgetbpFee Kraken FuturesbpOrdersPrice spread, now +0.219%Rate

Funding earned: $323.66
Price spread: +0.219% → +0.186%: $3.25
Slippage, 4 orders: −$217.51
Fee Bitget: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $87.4
Costs to cover: 2.395%
Break-even: 5.1 days

Slippage from Bitget: live order book, 2 min ago; Kraken Futures: live order book, 63 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 Bitget live order book, 2 min ago	8.52 bp	23.6 bp −$24	71.5 bp −$715	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 63 min ago	17.54 bp	34.7 bp −$35	278.4 bp −$2,784	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	−0.0041%	4h	0.01176	−0.051%	$1.0M	$2.1M	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-USDT	+0.0056%	4h	0.01173	−0.323%	$214K	$19K	75x	as long as short
Lighter ZK	+0.0096%	1h	0.01178	+0.051%	$128K	$194K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01178	+0.059%	$585K	$177K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01177	−0.002%	$31K	$21K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01173	−0.348%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01177	+0.005%	$4.9M	$8.0M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01176	−0.119%	$5.1M	$2.4M	25x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01176	−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	0.01177	0.000%	$971K	$1.5M	50x	as long as short
Bitget ZKUSDTlong	+0.0100%	4h	0.01177	long leg	$1.4M	$895K	75x
BingX ZK-USDT	+0.0100%	4h	0.01176	−0.059%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01172	−0.387%	$57K	$13K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01175	−0.197%	$162K	$2.3M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01174	−0.255%	$8K	$627K	50x	as long as short
Kraken Futures PF_ZKUSDshort	+0.1641%	1h	0.01180	+0.219%	$201K	$42K	25x