Funding arb · Price arb /

ZK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.017%

Price spread now: Injective against Aster−1.220%47s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Aster Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 1.220% cheaper against Aster than usual: you would sell low and buy high (−$122 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 47 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	Aster ZKUSDT	0.01184	0.0100	pay 0.0050% / 4h	3h 50m	$32K	$21K	10x
Short	Injective ZK/USDC PERP	0.01170	0.0033	get 0.0004% / 1h	50m 32s	$2K	$31K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Aster. 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 AsterbpFee InjectivebpOrdersPrice spread, now −1.220%Rate

Funding earned: −$14
Price spread: −1.220% → 0.000%: −$121.96
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$143.98
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Aster: no order-book sample; Injective: no order-book sample. Net counts fees only.

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 Aster no order-book sample	—	—	—	—	—
Sell Injective no order-book sample	—	—	—	—	—

Aster and Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	+0.0011%	4h	0.01181	−0.257%	$1.0M	$2.2M	20x	as long as short
Injective ZK/USDC PERPshort	+0.0033%	1h	0.01170	−1.220%	$2K	$31K	5.5x
Lighter ZK	+0.0096%	1h	0.01184	−0.012%	$136K	$181K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01183	−0.130%	$589K	$188K	5x	as long as short
Aster ZKUSDTlong	+0.0100%	4h	0.01184	long leg	$32K	$21K	10x
Pacifica ZK	+0.0100%	1h	0.01183	−0.114%	$30K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01182	−0.223%	$4.9M	$8.2M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01181	−0.266%	$5.1M	$2.4M	25x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01184	−0.038%	$326K	$241K	50x	as long as short
KuCoin ZKUSDTM	+0.0100%	4h	0.01183	−0.122%	$977K	$1.4M	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	0.01182	−0.206%	$1.5M	$843K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01183	−0.156%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01183	−0.139%	$58K	$15K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01188	+0.303%	$162K	$2.4M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01187	+0.216%	$8K	$619K	50x	as long as short
BloFin ZK-USDT	+0.0118%	4h	0.01186	+0.106%	$218K	$21K	75x	as long as short
Kraken Futures PF_ZKUSD	+0.1324%	1h	0.01187	+0.238%	$195K	$38K	25x	as long as short