Funding arb · Price arb /

ZK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.003%

Price spread now: Bybit against KuCoin−0.050%7-day average −0.101% · you buy dearer than you sell

Net, funding: paid 7d − costs−$256as in the Funding arb table

Net, price: spread back to 7d avg − costs−$248as in the Price arb table

costs, in and out, $10k−$2532.526% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.033%−$3 on $10k

Price spread, last 7 days−0.174%−$17 · spread now −0.050%, 7d avg −0.101%

Together, before fees−0.207%−$21 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.051% dearer against KuCoin than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.101%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ZKUSDTM	0.01209	0.0100	pay 0.0050% / 4h	3h 18m	$980K	$1.7M	50x
Short	Bybit ZKUSDT	0.01208	0.0100	get 0.0050% / 4h	3h 18m	$5.1M	$2.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against KuCoin. 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 KuCoinbpFee BybitbpOrdersPrice spread, now −0.050%Rate

Funding earned: $0
Price spread: −0.050% → −0.101%: $5.13
Slippage, 4 orders: −$229.63
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$247.5
Costs to cover: 2.526%
Break-even: never at this rate

Slippage from KuCoin: live order book, 7 min ago; Bybit: live order book, 4 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 KuCoin live order book, 7 min ago	8.31 bp	106.2 bp −$106	195.5 bp −$1,955	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	4.55 bp	28.1 bp −$28	93.2 bp −$932	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	−3.226%	$2K	$31K	5.5x	as long as short
Lighter ZK	+0.0096%	1h	0.01213	+0.289%	$130K	$186K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01210	+0.074%	$599K	$172K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01211	+0.153%	$33K	$22K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01211	+0.157%	$30K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01209	+0.017%	$5.0M	$8.0M	75x	as long as short
Bybit ZKUSDTshort	+0.0100%	4h	0.01208	−0.050%	$5.1M	$2.5M	25x
OKX ZK-USDT-SWAP	+0.0100%	4h	0.01209	−0.017%	$1.0M	$2.2M	20x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01209	0.000%	$305K	$265K	50x	as long as short
KuCoin ZKUSDTMlong	+0.0100%	4h	0.01209	long leg	$980K	$1.7M	50x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ZKUSDT	+0.0100%	4h	0.01210	+0.083%	$1.5M	$906K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01209	0.000%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01212	+0.242%	$58K	$13K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01213	+0.300%	$163K	$2.1M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01213	+0.331%	$8K	$632K	50x	as long as short
BloFin ZK-USDT	+0.0134%	4h	0.01210	+0.083%	$217K	$20K	75x	as long as short
Kraken Futures PF_ZKUSD	+0.3496%	1h	0.01219	+0.848%	$213K	$49K	25x	as long as short