Funding arb · Price arb /

ZK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.024%

Price spread now: Gate against Bybit0.000%7-day average +0.091% · 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−$115as in the Price arb table

costs, in and out, $10k−$1061.061% of the position

Long on Bybit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.082%+$8 on $10k

Price spread, last 4 days (all we have)+0.063%+$6 · spread now 0.000%, 7d avg +0.091%

Together, before fees+0.145%+$14 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 0.091% cheaper against Bybit than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.091%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ZKUSDT	0.01159	0.0100	pay 0.0050% / 4h	2h 04m	$5.0M	$2.7M	25x
Short	Gate ZK_USDT	0.01159	0.0100	get 0.0100% / 8h	2h 04m	$314K	$256K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Bybit. 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 BybitbpFee GatebpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.091%: −$9.09
Slippage, 4 orders: −$80.09
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$115.18
Costs to cover: 1.061%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; Gate: live order book, 16 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 Bybit live order book, 3 min ago	2.59 bp	22.6 bp −$23	68.3 bp −$683	doesn't fit	doesn't fit
Sell Gate live order book, 16 min ago	8.56 bp	34.2 bp −$34	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
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	+0.949%	$2K	$31K	5.5x	as long as short
OKX ZK-USDT-SWAP	+0.0060%	4h	0.01158	−0.060%	$942K	$2.3M	20x	as long as short
Lighter ZK	+0.0096%	1h	0.01162	+0.224%	$118K	$160K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01161	+0.190%	$583K	$237K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01161	+0.194%	$36K	$19K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01159	+0.043%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01159	+0.037%	$4.7M	$9.9M	75x	as long as short
Bybit ZKUSDTlong	+0.0100%	4h	0.01159	long leg	$5.0M	$2.7M	25x
Gate ZK_USDTshort	+0.0100%	8h	0.01159	0.000%	$314K	$256K	50x
KuCoin ZKUSDTM	+0.0100%	4h	0.01159	0.000%	$983K	$963K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ZKUSDT	+0.0100%	4h	0.01161	+0.173%	$1.5M	$851K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01159	+0.009%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01159	−0.009%	$57K	$15K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01165	+0.518%	$154K	$2.9M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01163	+0.345%	$8K	$623K	50x	as long as short
BloFin ZK-USDT	+0.0105%	4h	0.01160	+0.112%	$212K	$24K	75x	as long as short
Kraken Futures PF_ZKUSD	+0.1501%	1h	0.01162	+0.287%	$192K	$44K	25x	as long as short