Funding arb · Price arb /

ZK

all ZK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.1261%/8h= +138.1% APRpaid last 24h +0.564%

Price spread now: Kraken Futures against KuCoin+0.264%7-day average +0.188% · you sell dearer than you buy

Net, funding: paid 7d − costs−$225as in the Funding arb table

Net, price: spread back to 7d avg − costs−$348as in the Price arb table

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

Long on KuCoin Short on Kraken Futures

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)−0.074%−$7 · spread now +0.264%, 7d avg +0.188%

Together, before fees+1.234%+$123 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$38 a day on $10k at the current rate, and Kraken Futures is 0.076% dearer against KuCoin than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.188%.

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 45m	$983K	$1.1M	50x
Short	Kraken Futures PF_ZKUSD	0.01180	0.1361	get 0.0170% / 1h	45m 44s	$194K	$44K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.264%Rate

Funding earned: $264.87
Price spread: +0.264% → +0.188%: $7.6
Slippage, 4 orders: −$333.92
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$83.46
Costs to cover: 3.559%
Break-even: 9.2 days

Slippage from KuCoin: live order book, 9 min ago; Kraken Futures: live order book, 27 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, 9 min ago	8.47 bp	94.9 bp −$95	193.9 bp −$1,939	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 27 min ago	36.46 bp	48.7 bp −$49	224.7 bp −$2,247	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	−0.034%	$1.0M	$2.4M	20x	as long as short
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	−0.595%	$2K	$31K	5.5x	as long as short
Bybit ZKUSDT	+0.0077%	4h	0.01177	−0.017%	$5.0M	$2.7M	25x	as long as short
Lighter ZK	+0.0096%	1h	0.01179	+0.212%	$131K	$173K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01179	+0.153%	$598K	$238K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01178	+0.093%	$37K	$19K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01178	+0.085%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01178	+0.085%	$4.8M	$9.7M	75x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01178	+0.085%	$331K	$240K	50x	as long as short
KuCoin ZKUSDTMlong	+0.0100%	4h	0.01177	long leg	$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	+0.085%	$1.5M	$866K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01178	+0.042%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01177	−0.011%	$57K	$15K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01181	+0.340%	$162K	$2.7M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01178	+0.085%	$9K	$627K	50x	as long as short
BloFin ZK-USDT	+0.0159%	4h	0.01178	+0.076%	$215K	$24K	75x	as long as short
Kraken Futures PF_ZKUSDshort	+0.1361%	1h	0.01180	+0.264%	$194K	$44K	25x