Funding arb · Price arb /

ZK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0094%/8h= +10.3% APRpaid last 24h +0.026%

Price spread now: Gate against OKX0.000%7-day average +0.049% · you sell dearer than you buy

Net, funding: paid 7d − costs−$104as in the Funding arb table

Net, price: spread back to 7d avg − costs−$116as in the Price arb table

costs, in and out, $10k−$1111.113% of the position

Long on OKX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.070%+$7 on $10k

Price spread, last 4 days (all we have)−0.048%−$5 · spread now 0.000%, 7d avg +0.049%

Together, before fees+0.022%+$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. Gate is 0.049% cheaper against OKX than usual: you would sell low and buy high (spread 0.000% now, against its 7-day average of +0.049%). If the spread goes back, that is −$5 on $10k: about 41 hours of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.070% in total) that is about 4.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ZK-USDT-SWAP	0.01167	0.0006	pay 0.0003% / 4h	1h 07m	$943K	$2.3M	20x
Short	Gate ZK_USDT	0.01167	0.0100	get 0.0100% / 8h	1h 07m	$319K	$248K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now 0.000%Rate

Funding earned: $19.78
Price spread: 0.000% → +0.049%: −$4.89
Slippage, 4 orders: −$86.29
Fee OKX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$96.39
Costs to cover: 1.113%
Break-even: 41.1 days

Slippage from OKX: live order book, 4 min ago; Gate: live order book, 7 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, 4 min ago	2.14 bp	23.6 bp −$24	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 7 min ago	8.57 bp	33.4 bp −$33	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	+0.0006%	4h	0.01167	long leg	$943K	$2.3M	20x
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	+0.257%	$2K	$31K	5.5x	as long as short
Lighter ZK	+0.0096%	1h	0.01169	+0.206%	$127K	$165K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01168	+0.129%	$593K	$237K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01168	+0.061%	$36K	$19K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01168	+0.120%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01167	+0.031%	$4.7M	$9.8M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01167	−0.026%	$5.0M	$2.6M	25x	as long as short
Gate ZK_USDTshort	+0.0100%	8h	0.01167	0.000%	$319K	$248K	50x
KuCoin ZKUSDTM	+0.0100%	4h	0.01167	0.000%	$982K	$1.0M	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ZKUSDT	+0.0100%	4h	0.01167	0.000%	$1.5M	$866K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01167	+0.017%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01166	−0.099%	$57K	$15K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01166	−0.076%	$160K	$2.8M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01167	0.000%	$8K	$624K	50x	as long as short
BloFin ZK-USDT	+0.0157%	4h	0.01166	−0.129%	$211K	$25K	75x	as long as short
Kraken Futures PF_ZKUSD	+0.1292%	1h	0.01171	+0.316%	$194K	$43K	25x	as long as short