Funding arb · Price arb /

ZK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.017%

Price spread now: Gate against Injective+1.282%54s7-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 Gate

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 Gate is 1.282% dearer against Injective than usual: you sell high and buy low: +$128 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 54 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	4m 14s	$2K	$31K	5.5x
Short	Gate ZK_USDT	0.01185	0.0100	get 0.0100% / 8h	1h 04m	$302K	$264K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +1.282%Rate

Funding earned: $14
Price spread: +1.282% → 0.000%: $128.21
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $127.19
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Gate: live order book, 36 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 Gate live order book, 36 min ago	8.51 bp	39.7 bp −$40	doesn't fit	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
Injective ZK/USDC PERPlong	+0.0033%	1h	0.01170	long leg	$2K	$31K	5.5x
Lighter ZK	+0.0096%	1h	0.01188	+1.496%	$127K	$201K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01187	+1.453%	$589K	$170K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01187	+1.432%	$32K	$22K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01187	+1.444%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01186	+1.350%	$4.9M	$8.0M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01186	+1.350%	$5.1M	$2.4M	25x	as long as short
OKX ZK-USDT-SWAP	+0.0100%	4h	0.01184	+1.231%	$1.0M	$2.1M	20x	as long as short
Gate ZK_USDTshort	+0.0100%	8h	0.01185	+1.282%	$302K	$264K	50x
KuCoin ZKUSDTM	+0.0100%	4h	0.01185	+1.282%	$969K	$1.6M	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	0.01186	+1.368%	$1.5M	$874K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01186	+1.333%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01187	+1.487%	$57K	$13K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01188	+1.538%	$164K	$2.2M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01189	+1.624%	$8K	$628K	50x	as long as short
BloFin ZK-USDT	+0.0125%	4h	0.01186	+1.342%	$214K	$19K	75x	as long as short
Kraken Futures PF_ZKUSD	+0.1629%	1h	0.01189	+1.602%	$208K	$46K	25x	as long as short