Funding arb · Price arb /

ZK

all ZK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0162%/8h= −17.7% APRpaid last 24h −0.014%

Price spread now: OKX against ApeX Omni0.000%7-day average −0.108% · you sell dearer than you buy

Net, funding: paid 7d − costs−$99as in the Funding arb table

Net, price: spread back to 7d avg − costs−$86as in the Price arb table

costs, in and out, $10k−$970.967% of the position

Long on ApeX Omni Short on OKX

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)−0.638%−$64 · spread now 0.000%, 7d avg −0.108%

Together, before fees−0.663%−$66 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.108% dearer against ApeX Omni than usual: you sell high and buy low (spread 0.000% now, against its 7-day average of −0.108%): +$11 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 2.2 days. At the pace of the last 7 days (−0.025% in total) that is about 31 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ZKUSDT	0.01179	0.0100	pay 0.0013% / 1h	4m 58s	$8K	$625K	50x
Short	OKX ZK-USDT-SWAP	0.01179	−0.0062	pay 0.0031% / 4h	2h 04m	$1.0M	$2.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$34
Price spread: 0.000% → −0.108%: $10.82
Slippage, 4 orders: −$76.72
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$119.9
Costs to cover: 0.967%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 43 min ago; OKX: live order book, 2 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, 43 min ago	12.80 bp	22.1 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	4.25 bp	24.6 bp −$25	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-SWAPshort	−0.0062%	4h	0.01179	0.000%	$1.0M	$2.2M	20x
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	−0.763%	$2K	$31K	5.5x	as long as short
BloFin ZK-USDT	+0.0062%	4h	0.01179	+0.042%	$211K	$18K	75x	as long as short
Lighter ZK	+0.0096%	1h	0.01182	+0.212%	$129K	$197K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01181	+0.161%	$586K	$180K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01180	+0.075%	$32K	$21K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01181	+0.195%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01180	+0.076%	$4.9M	$8.1M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01179	+0.042%	$5.1M	$2.4M	25x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01180	+0.085%	$301K	$267K	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	0.01179	0.000%	$970K	$1.5M	50x	as long as short
Bitget ZKUSDT	+0.0100%	4h	0.01180	+0.085%	$1.4M	$912K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01179	+0.042%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01178	−0.077%	$57K	$13K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01178	−0.086%	$155K	$2.3M	10x	as long as short
ApeX Omni ZKUSDTlong	+0.0100%	1h	0.01179	long leg	$8K	$625K	50x
Kraken Futures PF_ZKUSD	+0.1260%	1h	0.01183	+0.325%	$202K	$43K	25x	as long as short