Funding arb · Price arb /

ZK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.017%

Price spread now: Injective against KuCoin−0.595%7-day average — · you buy dearer than you sell

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

Long on KuCoin Short on Injective

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 against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 0.595% cheaper against KuCoin than usual: you would sell low and buy high (−$59 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ZKUSDTM	0.01177	0.0100	pay 0.0050% / 4h	3h 17m	$969K	$1.4M	50x
Short	Injective ZK/USDC PERP	0.01170	0.0033	get 0.0004% / 1h	17m 04s	$2K	$31K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.595%Rate

Funding earned: −$14
Price spread: −0.595% → 0.000%: −$59.47
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$85.49
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 3 min ago; Injective: no order-book sample. 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 KuCoin live order book, 3 min ago	8.51 bp	109.8 bp −$110	240.3 bp −$2,403	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

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	−0.0034%	4h	0.01174	−0.246%	$999K	$2.2M	20x	as long as short
Injective ZK/USDC PERPshort	+0.0033%	1h	0.01170	−0.595%	$2K	$31K	5.5x
BloFin ZK-USDT	+0.0063%	4h	0.01175	−0.127%	$216K	$21K	75x	as long as short
Lighter ZK	+0.0096%	1h	0.01177	+0.034%	$127K	$189K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01177	−0.008%	$588K	$188K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01177	−0.009%	$32K	$20K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01176	−0.042%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01175	−0.156%	$4.9M	$8.1M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01174	−0.238%	$5.1M	$2.4M	25x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01176	−0.085%	$302K	$260K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ZKUSDTMlong	+0.0100%	4h	0.01177	long leg	$969K	$1.4M	50x
Bitget ZKUSDT	+0.0100%	4h	0.01176	−0.085%	$1.5M	$846K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01176	−0.093%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01173	−0.298%	$57K	$15K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01174	−0.291%	$158K	$2.3M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01174	−0.255%	$8K	$620K	50x	as long as short
Kraken Futures PF_ZKUSD	+0.1332%	1h	0.01180	+0.267%	$194K	$38K	25x	as long as short