Funding arb · Price arb /

ZK

all ZK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.1299%/8h= +142.3% APRpaid last 24h +0.567%

Price spread now: Kraken Futures against Gate+0.694%7-day average +0.213% · you sell dearer than you buy

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs−$158as in the Price arb table

costs, in and out, $10k−$2062.056% of the position

Long on Gate Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+1.250%+$125 on $10k

Price spread, last 3 days (all we have)−0.491%−$49 · spread now +0.694%, 7d avg +0.213%

Together, before fees+0.758%+$76 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$39 a day on $10k at the current rate, and Kraken Futures is 0.481% dearer against Gate than usual: you sell high and buy low: +$48 more if the spread goes back to its 7-day average of +0.213%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ZK_USDT	0.01181	0.0100	pay 0.0100% / 8h	44m 59s	$322K	$245K	50x
Short	Kraken Futures PF_ZKUSD	0.01189	0.1399	get 0.0175% / 1h	44m 59s	$196K	$44K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.694%Rate

Funding earned: $272.84
Price spread: +0.694% → +0.213%: $48.09
Slippage, 4 orders: −$180.64
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $115.29
Costs to cover: 2.056%
Break-even: 4.0 days

Slippage from Gate: live order book, 30 min ago; Kraken Futures: live order book, 32 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, 30 min ago	8.57 bp	33.4 bp −$33	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 32 min ago	30.45 bp	41.7 bp −$42	217.3 bp −$2,173	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	−0.931%	$2K	$31K	5.5x	as long as short
OKX ZK-USDT-SWAP	+0.0047%	4h	0.01180	−0.068%	$984K	$2.3M	20x	as long as short
Lighter ZK	+0.0096%	1h	0.01183	+0.169%	$129K	$166K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01182	+0.102%	$600K	$238K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01182	+0.087%	$37K	$19K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01181	+0.025%	$30K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01181	−0.042%	$4.8M	$9.8M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01180	−0.051%	$5.0M	$2.6M	25x	as long as short
Gate ZK_USDTlong	+0.0100%	8h	0.01181	long leg	$322K	$245K	50x
KuCoin ZKUSDTM	+0.0100%	4h	0.01181	0.000%	$989K	$1.0M	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	0.01182	+0.085%	$1.5M	$857K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01181	−0.034%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01181	−0.034%	$57K	$15K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01187	+0.490%	$155K	$2.8M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01182	+0.085%	$8K	$628K	50x	as long as short
BloFin ZK-USDT	+0.0105%	4h	0.01184	+0.296%	$212K	$25K	75x	as long as short
Kraken Futures PF_ZKUSDshort	+0.1399%	1h	0.01189	+0.694%	$196K	$44K	25x