Funding arb · Price arb /

ZK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.003%

Price spread now: Bybit against Gate+0.076%7-day average −0.088% · you sell dearer than you buy

Net, funding: paid 7d − costs−$133as in the Funding arb table

Net, price: spread back to 7d avg − costs−$108as in the Price arb table

costs, in and out, $10k−$1251.249% of the position

Long on Gate Short on Bybit

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)−0.139%−$14 · spread now +0.076%, 7d avg −0.088%

Together, before fees−0.221%−$22 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: Bybit is 0.164% dearer against Gate than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of −0.088%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ZK_USDT	0.01182	0.0100	pay 0.0100% / 8h	4h 41m	$330K	$230K	50x
Short	Bybit ZKUSDT	0.01183	0.0100	get 0.0050% / 4h	41m 30s	$5.1M	$2.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.076%Rate

Funding earned: $0
Price spread: +0.076% → −0.088%: $16.37
Slippage, 4 orders: −$98.86
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$108.49
Costs to cover: 1.249%
Break-even: never at this rate

Slippage from Gate: live order book, 14 min ago; Bybit: live order book, 1 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, 14 min ago	4.21 bp	36.6 bp −$37	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	3.81 bp	27.6 bp −$28	85.7 bp −$857	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	+0.0016%	4h	0.01183	+0.068%	$1.0M	$2.3M	20x	as long as short
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	−1.015%	$2K	$31K	5.5x	as long as short
Lighter ZK	+0.0096%	1h	0.01185	+0.220%	$137K	$180K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01184	+0.186%	$588K	$222K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01184	+0.166%	$32K	$21K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01183	+0.085%	$30K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01183	+0.085%	$4.9M	$8.6M	75x	as long as short
Bybit ZKUSDTshort	+0.0100%	4h	0.01183	+0.076%	$5.1M	$2.5M	25x
Gate ZK_USDTlong	+0.0100%	8h	0.01182	long leg	$330K	$230K	50x
KuCoin ZKUSDTM	+0.0100%	4h	0.01181	−0.085%	$974K	$1.3M	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	0.01183	+0.085%	$1.5M	$837K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01183	+0.059%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01186	+0.299%	$58K	$15K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01184	+0.169%	$157K	$2.4M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01186	+0.338%	$8K	$617K	50x	as long as short
BloFin ZK-USDT	+0.0139%	4h	0.01184	+0.169%	$218K	$21K	75x	as long as short
Kraken Futures PF_ZKUSD	+0.1926%	1h	0.01186	+0.374%	$195K	$39K	25x	as long as short