Funding arb · Price arb /

ZK

all ZK markets

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 −0.013%

Price spread now: OKX against BingX−0.017%7-day average +0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$97as in the Funding arb table

Net, price: spread back to 7d avg − costs−$95as in the Price arb table

costs, in and out, $10k−$920.925% of the position

Long on BingX Short on OKX

What this pair did over the last

the charts below follow

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

Price spread, last 7 days+0.053%+$5 · spread now −0.017%, 7d avg +0.009%

Together, before fees+0.011%+$1 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: OKX is 0.026% cheaper against BingX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ZK-USDT	0.01203	0.0100	pay 0.0050% / 4h	3h 25m	—	$6.7M	—
Short	OKX ZK-USDT-SWAP	0.01203	0.0100	get 0.0050% / 4h	3h 25m	$1.0M	$2.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.017%Rate

Funding earned: $0
Price spread: −0.017% → +0.009%: −$2.57
Slippage, 4 orders: −$72.46
Fee BingX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$95.03
Costs to cover: 0.925%
Break-even: never at this rate

Slippage from BingX: live order book, 12 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 BingX live order book, 12 min ago	3.33 bp	23.3 bp −$23	54.5 bp −$545	418.3 bp −$41.8K	687.0 bp −$343.5K
Sell OKX live order book, 2 min ago	2.49 bp	22.1 bp −$22	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
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	−2.743%	$2K	$31K	5.5x	as long as short
Lighter ZK	+0.0096%	1h	0.01205	+0.125%	$129K	$186K	8x	as long as short
BloFin ZK-USDT	+0.0099%	4h	0.01206	+0.266%	$217K	$20K	75x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01205	+0.125%	$597K	$172K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01205	+0.132%	$33K	$22K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01204	+0.116%	$30K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01204	+0.088%	$5.0M	$8.0M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01202	−0.042%	$5.1M	$2.5M	25x	as long as short
OKX ZK-USDT-SWAPshort	+0.0100%	4h	0.01203	−0.017%	$1.0M	$2.2M	20x
Gate ZK_USDT	+0.0100%	8h	0.01203	0.000%	$302K	$263K	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	0.01203	0.000%	$978K	$1.7M	50x	as long as short
Bitget ZKUSDT	+0.0100%	4h	0.01204	+0.083%	$1.5M	$914K	75x	as long as short
BingX ZK-USDTlong	+0.0100%	4h	0.01203	long leg	—	$6.7M	—
Variational Omni ZK	+0.0100%	4h	0.01202	−0.098%	$58K	$13K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01206	+0.284%	$162K	$2.1M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01204	+0.083%	$8K	$631K	50x	as long as short
Kraken Futures PF_ZKUSD	+0.3522%	1h	0.01210	+0.605%	$211K	$49K	25x	as long as short