Funding arb · Price arb /

ZK

all ZK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.1255%/8h= −137.4% APRpaid last 24h −0.564%

Price spread now: KuCoin against Kraken Futures−0.759%7-day average −0.188% · you buy dearer than you sell

Net, funding: paid 7d − costs−$487as in the Funding arb table

Net, price: spread back to 7d avg − costs−$413as in the Price arb table

costs, in and out, $10k−$3563.559% of the position

Long on Kraken Futures Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−1.308%−$131 on $10k

Price spread, last 3 days (all we have)+0.569%+$57 · spread now −0.759%, 7d avg −0.188%

Together, before fees−0.739%−$74 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$38 a day on $10k at the current rate, and KuCoin is 0.571% cheaper against Kraken Futures than usual: you would sell low and buy high (−$57 if the spread goes back to its 7-day average of −0.188%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ZKUSD	0.01186	0.1355	pay 0.0169% / 1h	45m 19s	$195K	$44K	25x
Short	KuCoin ZKUSDTM	0.01177	0.0100	get 0.0050% / 4h	3h 45m	$983K	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Kraken Futures. 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 Kraken FuturesbpFee KuCoinbpOrdersPrice spread, now −0.759%Rate

Funding earned: −$263.45
Price spread: −0.759% → −0.188%: −$57.1
Slippage, 4 orders: −$333.92
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$676.47
Costs to cover: 3.559%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 27 min ago; KuCoin: live order book, 10 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 Kraken Futures live order book, 27 min ago	36.46 bp	93.0 bp −$93	16539.9 bp −$165.4K	doesn't fit	doesn't fit
Sell KuCoin live order book, 10 min ago	8.47 bp	119.3 bp −$119	217.8 bp −$2,178	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-SWAP	−0.0087%	4h	0.01177	−0.793%	$1.0M	$2.4M	20x	as long as short
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	−1.349%	$2K	$31K	5.5x	as long as short
Lighter ZK	+0.0096%	1h	0.01179	−0.548%	$131K	$173K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01179	−0.573%	$599K	$238K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01178	−0.665%	$37K	$19K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01178	−0.675%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01178	−0.705%	$4.8M	$9.7M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01177	−0.776%	$5.0M	$2.7M	25x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01178	−0.675%	$331K	$240K	50x	as long as short
KuCoin ZKUSDTMshort	+0.0100%	4h	0.01177	−0.759%	$983K	$1.1M	50x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ZKUSDT	+0.0100%	4h	0.01178	−0.675%	$1.5M	$866K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01177	−0.767%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01177	−0.770%	$57K	$15K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01181	−0.422%	$162K	$2.7M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01177	−0.759%	$9K	$627K	50x	as long as short
BloFin ZK-USDT	+0.0159%	4h	0.01178	−0.683%	$215K	$24K	75x	as long as short
Kraken Futures PF_ZKUSDlong	+0.1355%	1h	0.01186	long leg	$195K	$44K	25x