Funding arb · Price arb /

ZK

all ZK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0239%/8h= −26.2% APRpaid last 24h −0.015%

Price spread now: OKX against Gate−0.078%7-day average −0.048% · you buy dearer than you sell

Net, funding: paid 7d − costs−$124as in the Funding arb table

Net, price: spread back to 7d avg − costs−$121as in the Price arb table

costs, in and out, $10k−$1181.176% of the position

Long on Gate Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.063%−$6 on $10k

Price spread, last 4 days (all we have)+0.090%+$9 · spread now −0.078%, 7d avg −0.048%

Together, before fees+0.026%+$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and OKX is 0.030% cheaper against Gate than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.048%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.063% in total (about -3.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ZK_USDT	0.01159	0.0100	pay 0.0100% / 8h	2h 29m	$296K	$258K	50x
Short	OKX ZK-USDT-SWAP	0.01158	−0.0139	pay 0.0070% / 4h	2h 29m	$983K	$2.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.078%Rate

Funding earned: −$50.23
Price spread: −0.078% → −0.048%: −$2.99
Slippage, 4 orders: −$92.57
Fee Gate: 7.5 bp × 2 orders: −$15
Fee OKX: 5 bp × 2 orders: −$10
Net: −$170.8
Costs to cover: 1.176%
Break-even: never at this rate

Slippage from Gate: live order book, 16 min ago; OKX: 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 Gate live order book, 16 min ago	8.56 bp	28.8 bp −$29	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	2.16 bp	23.9 bp −$24	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
OKX ZK-USDT-SWAPshort	−0.0139%	4h	0.01158	−0.078%	$983K	$2.1M	20x
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	+0.949%	$2K	$31K	5.5x	as long as short
BloFin ZK-USDT	+0.0067%	4h	0.01158	−0.095%	$212K	$17K	75x	as long as short
Lighter ZK	+0.0096%	1h	0.01161	+0.129%	$125K	$192K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01161	+0.155%	$580K	$175K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01159	+0.033%	$31K	$21K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01159	0.000%	$28K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01160	+0.094%	$4.8M	$8.0M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01159	−0.026%	$5.0M	$2.3M	25x	as long as short
Gate ZK_USDTlong	+0.0100%	8h	0.01159	long leg	$296K	$258K	50x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ZKUSDTM	+0.0100%	4h	0.01158	−0.086%	$952K	$1.5M	50x	as long as short
Bitget ZKUSDT	+0.0100%	4h	0.01159	0.000%	$1.5M	$848K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01159	−0.009%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01158	−0.106%	$56K	$13K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01159	0.000%	$160K	$2.3M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01160	+0.086%	$8K	$624K	50x	as long as short
Kraken Futures PF_ZKUSD	+0.1283%	1h	0.01162	+0.224%	$191K	$35K	25x	as long as short