Funding arb · Price arb /

ZK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0088%/8h= −9.6% APRpaid last 24h −0.026%

Price spread now: OKX against Gate+0.145%7-day average −0.049% · you sell dearer than you buy

Net, funding: paid 7d − costs−$113as in the Funding arb table

Net, price: spread back to 7d avg − costs−$87as in the Price arb table

costs, in and out, $10k−$1061.062% of the position

Long on Gate Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.070%−$7 on $10k

Price spread, last 4 days (all we have)−0.097%−$10 · spread now +0.145%, 7d avg −0.049%

Together, before fees−0.168%−$17 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.194% dearer against Gate than usual: you sell high and buy low (spread +0.145% now, against its 7-day average of −0.049%): +$19 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 7.4 days. At the pace of the last 7 days (−0.070% in total) that is about 19 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ZK_USDT	0.01169	0.0100	pay 0.0100% / 8h	1h 05m	$319K	$248K	50x
Short	OKX ZK-USDT-SWAP	0.01171	0.0012	get 0.0006% / 4h	1h 05m	$946K	$2.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.145%Rate

Funding earned: −$18.48
Price spread: +0.145% → −0.049%: $19.43
Slippage, 4 orders: −$81.23
Fee Gate: 7.5 bp × 2 orders: −$15
Fee OKX: 5 bp × 2 orders: −$10
Net: −$105.28
Costs to cover: 1.062%
Break-even: never at this rate

Slippage from Gate: live order book, 10 min ago; OKX: 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, 10 min ago	8.57 bp	33.4 bp −$33	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	2.14 bp	19.6 bp −$20	doesn't fit	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-SWAPshort	+0.0012%	4h	0.01171	+0.145%	$946K	$2.3M	20x
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	+0.086%	$2K	$31K	5.5x	as long as short
BloFin ZK-USDT	+0.0057%	4h	0.01168	−0.060%	$211K	$25K	75x	as long as short
Lighter ZK	+0.0096%	1h	0.01173	+0.342%	$128K	$165K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01172	+0.299%	$595K	$237K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01172	+0.251%	$36K	$19K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01171	+0.163%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01171	+0.145%	$4.7M	$9.8M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01171	+0.137%	$5.0M	$2.6M	25x	as long as short
Gate ZK_USDTlong	+0.0100%	8h	0.01169	long leg	$319K	$248K	50x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ZKUSDTM	+0.0100%	4h	0.01171	+0.171%	$988K	$1.0M	50x	as long as short
Bitget ZKUSDT	+0.0100%	4h	0.01171	+0.171%	$1.5M	$866K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01171	+0.171%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01167	−0.129%	$57K	$15K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01169	+0.001%	$160K	$2.8M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01169	0.000%	$8K	$624K	50x	as long as short
Kraken Futures PF_ZKUSD	+0.1289%	1h	0.01173	+0.335%	$194K	$43K	25x	as long as short