Funding arb · Price arb /

ZK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.017%

Price spread now: Injective against Gate−0.679%7-day average — · you buy dearer than you sell

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

Long on Gate Short on Injective

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—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 0.679% cheaper against Gate than usual: you would sell low and buy high (−$68 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ZK_USDT	0.01178	0.0100	pay 0.0100% / 8h	25m 02s	$322K	$245K	50x
Short	Injective ZK/USDC PERP	0.01170	0.0033	get 0.0004% / 1h	25m 02s	$2K	$31K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.679%Rate

Funding earned: −$14
Price spread: −0.679% → 0.000%: −$67.91
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$96.93
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 50 min ago; Injective: 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 Gate live order book, 50 min ago	8.57 bp	33.4 bp −$33	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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
OKX ZK-USDT-SWAP	−0.0047%	4h	0.01177	−0.119%	$983K	$2.4M	20x	as long as short
Injective ZK/USDC PERPshort	+0.0033%	1h	0.01170	−0.679%	$2K	$31K	5.5x
BloFin ZK-USDT	+0.0079%	4h	0.01178	−0.017%	$214K	$25K	75x	as long as short
Lighter ZK	+0.0096%	1h	0.01179	+0.102%	$128K	$167K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01179	+0.068%	$598K	$238K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01178	−0.008%	$37K	$19K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01177	−0.085%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01177	−0.059%	$4.8M	$9.8M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01176	−0.153%	$5.0M	$2.7M	25x	as long as short
Gate ZK_USDTlong	+0.0100%	8h	0.01178	long leg	$322K	$245K	50x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ZKUSDTM	+0.0100%	4h	0.01176	−0.170%	$988K	$1.1M	50x	as long as short
Bitget ZKUSDT	+0.0100%	4h	0.01178	0.000%	$1.5M	$859K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01177	−0.119%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01178	+0.022%	$57K	$15K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01180	+0.170%	$154K	$2.8M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01178	0.000%	$9K	$628K	50x	as long as short
Kraken Futures PF_ZKUSD	+0.1410%	1h	0.01180	+0.211%	$194K	$44K	25x	as long as short