Funding arb · Price arb /

ZK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.002%

Price spread now: Variational Omni against Bybit−0.287%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.287% cheaper against Bybit than usual: you would sell low and buy high, −$29 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ZKUSDT	0.01189	0.0100	pay 0.0050% / 4h	17m 57s	$5.2M	$2.4M	25x
Short	Variational Omni ZK	0.01186	0.0100	get 0.0050% / 4h	17m 57s	$57K	$13K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Bybit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now −0.287%Rate

Funding earned: $0
Price spread: −0.287% → 0.000%: −$28.66
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$39.66
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 5 min ago; Variational Omni: no order-book sample. Net counts fees only.

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, 5 min ago	5.06 bp	29.8 bp −$30	158.5 bp −$1,585	doesn't fit	doesn't fit
Sell Variational Omni no order-book sample	—	—	—	—	—

Variational Omni: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−1.598%	$2K	$31K	5.5x	as long as short
BloFin ZK-USDT	+0.0071%	4h	0.01186	−0.269%	$215K	$19K	75x	as long as short
Lighter ZK	+0.0096%	1h	0.01191	+0.177%	$127K	$197K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01191	+0.143%	$592K	$165K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01190	+0.116%	$33K	$23K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01190	+0.101%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01190	+0.050%	$4.9M	$7.9M	75x	as long as short
Bybit ZKUSDTlong	+0.0100%	4h	0.01189	long leg	$5.2M	$2.4M	25x
OKX ZK-USDT-SWAP	+0.0100%	4h	0.01189	−0.025%	$1.0M	$2.1M	20x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01189	0.000%	$302K	$264K	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	0.01189	0.000%	$968K	$1.6M	50x	as long as short
Bitget ZKUSDT	+0.0100%	4h	0.01190	+0.084%	$1.4M	$885K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01189	−0.008%	—	$6.6M	—	as long as short
Variational Omni ZKshort	+0.0100%	4h	0.01186	−0.287%	$57K	$13K	—
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01187	−0.184%	$155K	$2.2M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01186	−0.252%	$8K	$629K	50x	as long as short
Kraken Futures PF_ZKUSD	+0.2697%	1h	0.01195	+0.468%	$209K	$46K	25x	as long as short