Funding arb · Price arb /

ZK

all ZK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.1233%/8h= +135.0% APRpaid last 24h +0.587%

Price spread now: Kraken Futures against Gate+0.405%7-day average +0.217% · you sell dearer than you buy

Net, funding: paid 7d − costs−$87as in the Funding arb table

Net, price: spread back to 7d avg − costs−$211as in the Price arb table

costs, in and out, $10k−$2302.296% of the position

Long on Gate Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+1.427%+$143 on $10k

Price spread, last 4 days (all we have)−0.226%−$23 · spread now +0.405%, 7d avg +0.217%

Together, before fees+1.201%+$120 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$37 a day on $10k at the current rate, and Kraken Futures is 0.188% dearer against Gate than usual: you sell high and buy low: +$19 more if the spread goes back to its 7-day average of +0.217%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ZK_USDT	0.01174	0.0100	pay 0.0100% / 8h	3h 20m	$302K	$260K	50x
Short	Kraken Futures PF_ZKUSD	0.01179	0.1333	get 0.0167% / 1h	20m 14s	$194K	$38K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Gate. 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 GatebpFee Kraken FuturesbpOrdersPrice spread, now +0.405%Rate

Funding earned: $258.96
Price spread: +0.405% → +0.217%: $18.76
Slippage, 4 orders: −$204.58
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $48.14
Costs to cover: 2.296%
Break-even: 5.7 days

Slippage from Gate: live order book, 30 min ago; Kraken Futures: live order book, 32 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 Gate live order book, 30 min ago	4.23 bp	44.3 bp −$44	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 32 min ago	39.60 bp	50.7 bp −$51	233.2 bp −$2,332	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-SWAP	−0.0041%	4h	0.01175	+0.068%	$999K	$2.2M	20x	as long as short
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	−0.341%	$2K	$31K	5.5x	as long as short
Lighter ZK	+0.0096%	1h	0.01176	+0.196%	$127K	$189K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01176	+0.213%	$587K	$188K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01175	+0.115%	$32K	$20K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01174	0.000%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01175	+0.115%	$4.9M	$8.1M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01174	+0.009%	$5.1M	$2.4M	25x	as long as short
Gate ZK_USDTlong	+0.0100%	8h	0.01174	long leg	$302K	$260K	50x
KuCoin ZKUSDTM	+0.0100%	4h	0.01175	+0.085%	$969K	$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	0.01175	+0.085%	$1.5M	$845K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01175	+0.094%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01173	−0.043%	$57K	$15K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01174	+0.042%	$152K	$2.3M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01175	+0.085%	$8K	$620K	50x	as long as short
BloFin ZK-USDT	+0.0136%	4h	0.01173	−0.102%	$216K	$21K	75x	as long as short
Kraken Futures PF_ZKUSDshort	+0.1333%	1h	0.01179	+0.405%	$194K	$38K	25x