Funding arb · Price arb /

ZK

all ZK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.021%

Price spread now: Bybit against ApeX Omni+0.093%69s7-day average −0.151% · you sell dearer than you buy

Net, funding: paid 7d − costs−$87as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$830.832% of the position

Long on ApeX Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.042%−$4 on $10k

Price spread, last 3 days (all we have)−0.825%−$82 · spread now +0.093%, 7d avg −0.151%

Together, before fees−0.867%−$87 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 0.244% dearer against ApeX Omni than usual: you sell high and buy low, +$24 on $10k if it goes back to its 7-day average of −0.151%. The two prices were read 69 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ZKUSDT	0.01177	0.0100	pay 0.0013% / 1h	22m 24s	$9K	$628K	50x
Short	Bybit ZKUSDT	0.01178	0.0100	get 0.0050% / 4h	22m 24s	$5.0M	$2.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against ApeX Omni. 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 ApeX OmnibpFee BybitbpOrdersPrice spread, now +0.093%Rate

Funding earned: $0
Price spread: +0.093% → −0.151%: $24.42
Slippage, 4 orders: −$62.23
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$58.81
Costs to cover: 0.832%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 56 min ago; Bybit: live order book, 5 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 ApeX Omni live order book, 56 min ago	12.86 bp	25.1 bp −$25	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	3.40 bp	16.0 bp −$16	58.9 bp −$589	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	−0.0041%	4h	0.01179	+0.127%	$986K	$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
Lighter ZK	+0.0096%	1h	0.01180	+0.280%	$129K	$167K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01181	+0.365%	$600K	$238K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01178	+0.105%	$37K	$19K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01178	+0.102%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01179	+0.161%	$4.8M	$9.8M	75x	as long as short
Bybit ZKUSDTshort	+0.0100%	4h	0.01178	+0.093%	$5.0M	$2.7M	25x
Gate ZK_USDT	+0.0100%	8h	0.01176	−0.085%	$321K	$246K	50x	as long as short
KuCoin ZKUSDTM	+0.0100%	4h	0.01178	+0.085%	$986K	$1.1M	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	0.01178	+0.085%	$1.5M	$859K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01178	+0.068%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01178	+0.107%	$57K	$15K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01180	+0.255%	$154K	$2.8M	10x	as long as short
ApeX Omni ZKUSDTlong	+0.0100%	1h	0.01177	long leg	$9K	$628K	50x
BloFin ZK-USDT	+0.0130%	4h	0.01176	−0.076%	$214K	$25K	75x	as long as short
Kraken Futures PF_ZKUSD	+0.1409%	1h	0.01181	+0.323%	$194K	$44K	25x	as long as short