Funding arb · Price arb /

ZK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.017%

Price spread now: Binance against Injective+0.376%47s7-day average — · you sell dearer than you buy

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

Long on Injective Short on Binance

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 for this trade now. Funding pays +$2 a day on $10k at the current rate, and Binance is 0.376% dearer against Injective than usual: you sell high and buy low: +$38 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective ZK/USDC PERP	0.01170	0.0033	pay 0.0004% / 1h	30m 36s	$2K	$31K	5.5x
Short	Binance ZKUSDT	0.01174	0.0100	get 0.0050% / 4h	3h 30m	$4.8M	$9.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Injective. 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 InjectivebpFee BinancebpOrdersPrice spread, now +0.376%Rate

Funding earned: $14
Price spread: +0.376% → 0.000%: $37.61
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Binance: 5 bp × 2 orders: −$10
Net: $41.59
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Binance: live order book, 9 min ago. 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 Injective no order-book sample	—	—	—	—	—
Sell Binance live order book, 9 min ago	0.43 bp	17.6 bp −$18	49.8 bp −$498	doesn't fit	doesn't fit

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	−0.0107%	4h	0.01174	+0.308%	$998K	$2.3M	20x	as long as short
Injective ZK/USDC PERPlong	+0.0033%	1h	0.01170	long leg	$2K	$31K	5.5x
BloFin ZK-USDT	+0.0091%	4h	0.01173	+0.248%	$214K	$22K	75x	as long as short
Lighter ZK	+0.0096%	1h	0.01176	+0.556%	$131K	$173K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01175	+0.470%	$584K	$244K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01175	+0.423%	$37K	$19K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01174	+0.376%	$29K	$3K	5x	as long as short
Binance ZKUSDTshort	+0.0100%	4h	0.01174	+0.376%	$4.8M	$9.5M	75x
Bybit ZKUSDT	+0.0100%	4h	0.01174	+0.325%	$5.0M	$2.6M	25x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01173	+0.256%	$329K	$240K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ZKUSDTM	+0.0100%	4h	0.01174	+0.342%	$982K	$1.1M	50x	as long as short
Bitget ZKUSDT	+0.0100%	4h	0.01174	+0.342%	$1.5M	$852K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01174	+0.325%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01173	+0.249%	$57K	$15K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01176	+0.497%	$152K	$2.7M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01175	+0.427%	$9K	$625K	50x	as long as short
Kraken Futures PF_ZKUSD	+0.1365%	1h	0.01177	+0.603%	$194K	$44K	25x	as long as short