Funding arb · Price arb /

ZK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: BingX against Bybit−0.034%7-day average +0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$83as in the Funding arb table

Net, price: spread back to 7d avg − costs−$98as in the Price arb table

costs, in and out, $10k−$910.910% of the position

Long on Bybit Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.078%+$8 on $10k

Price spread, last 7 days+0.094%+$9 · spread now −0.034%, 7d avg +0.039%

Together, before fees+0.173%+$17 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: BingX is 0.072% cheaper against Bybit than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.039%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ZKUSDT	0.01191	0.0100	pay 0.0050% / 4h	14m 18s	$5.2M	$2.4M	25x
Short	BingX ZK-USDT	0.01191	0.0100	get 0.0050% / 4h	14m 18s	—	$6.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Bybit. 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 BybitbpFee BingXbpOrdersPrice spread, now −0.034%Rate

Funding earned: $0
Price spread: −0.034% → +0.039%: −$7.21
Slippage, 4 orders: −$69.97
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee BingX: 5 bp × 2 orders: −$10
Net: −$98.18
Costs to cover: 0.910%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; BingX: live order book, 3 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 Bybit live order book, 3 min ago	3.78 bp	27.1 bp −$27	95.9 bp −$959	doesn't fit	doesn't fit
Sell BingX live order book, 3 min ago	4.62 bp	12.1 bp −$12	49.1 bp −$491	363.2 bp −$36.3K	754.4 bp −$377.2K

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	−1.796%	$2K	$31K	5.5x	as long as short
BloFin ZK-USDT	+0.0053%	4h	0.01192	+0.008%	$215K	$19K	75x	as long as short
Lighter ZK	+0.0096%	1h	0.01193	+0.109%	$128K	$197K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01192	+0.076%	$593K	$165K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01193	+0.107%	$33K	$23K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01192	+0.042%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01192	+0.049%	$4.9M	$7.9M	75x	as long as short
Bybit ZKUSDTlong	+0.0100%	4h	0.01191	long leg	$5.2M	$2.4M	25x
OKX ZK-USDT-SWAP	+0.0100%	4h	0.01189	−0.176%	$1.0M	$2.1M	20x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01192	+0.050%	$304K	$265K	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	0.01191	−0.034%	$970K	$1.6M	50x	as long as short
Bitget ZKUSDT	+0.0100%	4h	0.01192	+0.050%	$1.4M	$885K	75x	as long as short
BingX ZK-USDTshort	+0.0100%	4h	0.01191	−0.034%	—	$6.7M	—
Variational Omni ZK	+0.0100%	4h	0.01191	−0.003%	$58K	$13K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01190	−0.118%	$155K	$2.2M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01188	−0.285%	$8K	$629K	50x	as long as short
Kraken Futures PF_ZKUSD	+0.2685%	1h	0.01200	+0.705%	$210K	$46K	25x	as long as short