Funding arb · Price arb /

ZK

all ZK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0134%/8h= +14.6% APRpaid last 24h +0.014%

Price spread now: ApeX Omni against OKX−0.077%7-day average +0.108% · you buy dearer than you sell

Net, funding: paid 7d − costs−$98as in the Funding arb table

Net, price: spread back to 7d avg − costs−$119as in the Price arb table

costs, in and out, $10k−$1011.008% of the position

Long on OKX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.025%+$2 on $10k

Price spread, last 4 days (all we have)+0.836%+$84 · spread now −0.077%, 7d avg +0.108%

Together, before fees+0.861%+$86 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.185% cheaper against OKX than usual: you would sell low and buy high (spread −0.077% now, against its 7-day average of +0.108%). If the spread goes back, that is −$19 on $10k: about 4.6 days of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.025% in total) that is about 53 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ZK-USDT-SWAP	0.01175	−0.0034	get 0.0017% / 4h	3h 17m	$1.0M	$2.2M	20x
Short	ApeX Omni ZKUSDT	0.01174	0.0100	get 0.0013% / 1h	17m 11s	$8K	$620K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against OKX. 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 OKXbpFee ApeX OmnibpOrdersPrice spread, now −0.077%Rate

Funding earned: $28.08
Price spread: −0.077% → +0.108%: −$18.51
Slippage, 4 orders: −$80.8
Fee OKX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$91.23
Costs to cover: 1.008%
Break-even: 29.7 days

Slippage from OKX: live order book, 5 min ago; ApeX Omni: live order book, 36 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 OKX live order book, 5 min ago	3.84 bp	22.8 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 36 min ago	16.85 bp	29.2 bp −$29	doesn't fit	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-SWAPlong	−0.0034%	4h	0.01175	long leg	$1.0M	$2.2M	20x
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	−0.417%	$2K	$31K	5.5x	as long as short
BloFin ZK-USDT	+0.0063%	4h	0.01175	+0.051%	$216K	$21K	75x	as long as short
Lighter ZK	+0.0096%	1h	0.01177	+0.213%	$127K	$189K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01177	+0.196%	$588K	$188K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01177	+0.180%	$32K	$20K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01176	+0.136%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01176	+0.100%	$4.9M	$8.1M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01176	+0.068%	$5.1M	$2.4M	25x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01176	+0.094%	$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 ZKUSDTM	+0.0100%	4h	0.01177	+0.179%	$969K	$1.4M	50x	as long as short
Bitget ZKUSDT	+0.0100%	4h	0.01176	+0.094%	$1.5M	$846K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01176	+0.136%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01173	−0.120%	$57K	$15K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01174	−0.113%	$158K	$2.3M	10x	as long as short
ApeX Omni ZKUSDTshort	+0.0100%	1h	0.01174	−0.077%	$8K	$620K	50x
Kraken Futures PF_ZKUSD	+0.1332%	1h	0.01180	+0.446%	$194K	$38K	25x	as long as short