Funding arb · Price arb /

ZK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.003%

Price spread now: Bybit against BingX+0.059%7-day average −0.037% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$81as in the Price arb table

costs, in and out, $10k−$910.908% of the position

Long on BingX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.069%−$7 on $10k

Price spread, last 7 days−0.115%−$11 · spread now +0.059%, 7d avg −0.037%

Together, before fees−0.184%−$18 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 0.096% dearer against BingX than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of −0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ZK-USDT	0.01192	0.0100	pay 0.0050% / 4h	50m 32s	—	$6.6M	—
Short	Bybit ZKUSDT	0.01192	0.0100	get 0.0050% / 4h	50m 32s	$5.1M	$2.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against BingX. 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 BingXbpFee BybitbpOrdersPrice spread, now +0.059%Rate

Funding earned: $0
Price spread: +0.059% → −0.037%: $9.62
Slippage, 4 orders: −$69.83
Fee BingX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$81.21
Costs to cover: 0.908%
Break-even: never at this rate

Slippage from BingX: live order book, 10 min ago; Bybit: live order book, just now.

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 BingX live order book, 10 min ago	4.61 bp	22.7 bp −$23	57.6 bp −$576	449.0 bp −$44.9K	783.7 bp −$391.9K
Sell Bybit live order book, just now	1.68 bp	22.3 bp −$22	80.8 bp −$808	doesn't fit	doesn't fit

ZK on 17 exchanges

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
Kraken Futures PF_ZKUSD	−0.2461%	1h	0.01193	+0.122%	$209K	$56K	25x	as long as short
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	−1.804%	$2K	$31K	5.5x	as long as short
Lighter ZK	+0.0096%	1h	0.01191	−0.050%	$129K	$189K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01191	−0.050%	$584K	$174K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01193	+0.109%	$33K	$20K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01190	−0.126%	$29K	$2K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01193	+0.134%	$4.9M	$7.6M	75x	as long as short
Bybit ZKUSDTshort	+0.0100%	4h	0.01192	+0.059%	$5.1M	$2.5M	25x
OKX ZK-USDT-SWAP	+0.0100%	4h	0.01192	+0.050%	$1.0M	$2.1M	20x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01191	−0.042%	$304K	$262K	50x	as long as short

Show all 17 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ZKUSDTM	+0.0100%	4h	0.01189	−0.210%	$969K	$1.8M	50x	as long as short
Bitget ZKUSDT	+0.0100%	4h	0.01192	+0.042%	$1.5M	$844K	75x	as long as short
BingX ZK-USDTlong	+0.0100%	4h	0.01192	long leg	—	$6.6M	—
Variational Omni ZK	+0.0100%	4h	0.01189	−0.186%	$57K	$4K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01189	−0.210%	$166K	$1.9M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01190	−0.126%	$8K	$637K	50x	as long as short
BloFin ZK-USDT	+0.0100%	4h	0.01189	−0.210%	$213K	$27K	75x	as long as short