Funding arb · Price arb /

ZK

all ZK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0037%/8h= +4.1% APRpaid last 24h −0.003%

Price spread now: ApeX Omni against BloFin−0.128%7-day average +0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$92as in the Funding arb table

Net, price: spread back to 7d avg − costs−$106as in the Price arb table

costs, in and out, $10k−$910.905% of the position

Long on BloFin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.011%−$1 on $10k

Price spread, last 4 days (all we have)+0.124%+$12 · spread now −0.128%, 7d avg +0.023%

Together, before fees+0.113%+$11 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.151% cheaper against BloFin than usual: you would sell low and buy high (spread −0.128% now, against its 7-day average of +0.023%). If the spread goes back, that is −$15 on $10k: about 14 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ZK-USDT	0.01175	0.0063	pay 0.0031% / 4h	3h 15m	$216K	$21K	75x
Short	ApeX Omni ZKUSDT	0.01174	0.0100	get 0.0013% / 1h	15m 49s	$8K	$620K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BloFin. 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 BloFinbpFee ApeX OmnibpOrdersPrice spread, now −0.128%Rate

Funding earned: $7.77
Price spread: −0.128% → +0.023%: −$15.05
Slippage, 4 orders: −$68.54
Fee BloFin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$97.82
Costs to cover: 0.905%
Break-even: 95.1 days

Slippage from BloFin: live order book, 5 min ago; ApeX Omni: live order book, 37 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 BloFin live order book, 5 min ago	4.68 bp	15.7 bp −$16	50.6 bp −$506	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 37 min ago	16.85 bp	29.2 bp −$29	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-SWAP	−0.0031%	4h	0.01174	−0.128%	$998K	$2.2M	20x	as long as short
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	−0.468%	$2K	$31K	5.5x	as long as short
BloFin ZK-USDTlong	+0.0063%	4h	0.01175	long leg	$216K	$21K	75x
Lighter ZK	+0.0096%	1h	0.01177	+0.153%	$127K	$189K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01176	+0.085%	$588K	$188K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01177	+0.101%	$32K	$20K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01175	−0.034%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01176	+0.043%	$4.9M	$8.1M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01175	−0.077%	$5.1M	$2.4M	25x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01175	−0.043%	$302K	$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	0.01174	−0.128%	$966K	$1.4M	50x	as long as short
Bitget ZKUSDT	+0.0100%	4h	0.01175	−0.043%	$1.5M	$846K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01175	−0.068%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01173	−0.171%	$57K	$15K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01174	−0.164%	$158K	$2.3M	10x	as long as short
ApeX Omni ZKUSDTshort	+0.0100%	1h	0.01174	−0.128%	$8K	$620K	50x
Kraken Futures PF_ZKUSD	+0.1334%	1h	0.01178	+0.204%	$194K	$38K	25x	as long as short