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% APRpaid last 24h 0.000%

Price spread now: BingX against Gate−0.160%7-day average −0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$116as in the Funding arb table

Net, price: spread back to 7d avg − costs−$128as in the Price arb table

costs, in and out, $10k−$1161.155% of the position

Long on Gate Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.125%+$13 · spread now −0.160%, 7d avg −0.035%

Together, before fees+0.125%+$13 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: BingX is 0.125% cheaper against Gate than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of −0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ZK_USDT	0.01188	0.0100	pay 0.0100% / 8h	1h 05m	$303K	$264K	50x
Short	BingX ZK-USDT	0.01186	0.0100	get 0.0050% / 4h	1h 05m	—	$6.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Gate. 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 GatebpFee BingXbpOrdersPrice spread, now −0.160%Rate

Funding earned: $0
Price spread: −0.160% → −0.035%: −$12.52
Slippage, 4 orders: −$90.54
Fee Gate: 7.5 bp × 2 orders: −$15
Fee BingX: 5 bp × 2 orders: −$10
Net: −$128.06
Costs to cover: 1.155%
Break-even: never at this rate

Slippage from Gate: live order book, 35 min ago; BingX: live order book, 2 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 Gate live order book, 35 min ago	8.51 bp	33.1 bp −$33	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 2 min ago	3.79 bp	20.6 bp −$21	52.4 bp −$524	442.2 bp −$44.2K	752.2 bp −$376.1K

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	−1.515%	$2K	$31K	5.5x	as long as short
Lighter ZK	+0.0096%	1h	0.01188	−0.008%	$127K	$201K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01187	−0.059%	$589K	$170K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01188	−0.023%	$32K	$22K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01188	−0.025%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01186	−0.135%	$4.9M	$8.0M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01186	−0.160%	$5.1M	$2.4M	25x	as long as short
OKX ZK-USDT-SWAP	+0.0100%	4h	0.01185	−0.244%	$1.0M	$2.1M	20x	as long as short
Gate ZK_USDTlong	+0.0100%	8h	0.01188	long leg	$303K	$264K	50x
KuCoin ZKUSDTM	+0.0100%	4h	0.01186	−0.168%	$970K	$1.6M	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	0.01186	−0.168%	$1.5M	$874K	75x	as long as short
BingX ZK-USDTshort	+0.0100%	4h	0.01186	−0.160%	—	$6.7M	—
Variational Omni ZK	+0.0100%	4h	0.01187	−0.051%	$57K	$13K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01188	0.000%	$164K	$2.2M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01189	+0.084%	$8K	$628K	50x	as long as short
BloFin ZK-USDT	+0.0125%	4h	0.01186	−0.194%	$214K	$19K	75x	as long as short
Kraken Futures PF_ZKUSD	+0.1627%	1h	0.01190	+0.133%	$208K	$46K	25x	as long as short