Funding arb · Price arb /

ZK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.017%

Price spread now: Binance against Injective+3.188%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Binance is 3.188% dearer against Injective than usual: you sell high and buy low: +$319 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective ZK/USDC PERP	0.01170	0.0033	pay 0.0004% / 1h	59m 18s	$2K	$31K	5.5x
Short	Binance ZKUSDT	0.01207	0.0100	get 0.0050% / 4h	2h 59m	$5.0M	$7.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Injective. 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 InjectivebpFee BinancebpOrdersPrice spread, now +3.188%Rate

Funding earned: $14
Price spread: +3.188% → 0.000%: $318.8
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Binance: 5 bp × 2 orders: −$10
Net: $322.78
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Binance: live order book, 10 min ago. Net counts fees only.

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 Injective no order-book sample	—	—	—	—	—
Sell Binance live order book, 10 min ago	3.30 bp	16.7 bp −$17	62.4 bp −$624	doesn't fit	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 PERPlong	+0.0033%	1h	0.01170	long leg	$2K	$31K	5.5x
Lighter ZK	+0.0096%	1h	0.01210	+3.427%	$128K	$175K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01208	+3.256%	$598K	$163K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01208	+3.217%	$33K	$22K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01209	+3.333%	$30K	$3K	5x	as long as short
Binance ZKUSDTshort	+0.0100%	4h	0.01207	+3.188%	$5.0M	$7.7M	75x
Bybit ZKUSDT	+0.0100%	4h	0.01207	+3.145%	$5.1M	$2.5M	25x	as long as short
OKX ZK-USDT-SWAP	+0.0100%	4h	0.01206	+3.043%	$1.0M	$2.1M	20x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01209	+3.333%	$304K	$253K	50x	as long as short
KuCoin ZKUSDTM	+0.0100%	4h	0.01208	+3.248%	$978K	$1.7M	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	0.01209	+3.333%	$1.5M	$811K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01207	+3.197%	—	$6.6M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01208	+3.237%	$58K	$8K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01211	+3.504%	$162K	$2.1M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01210	+3.419%	$8K	$633K	50x	as long as short
BloFin ZK-USDT	+0.0116%	4h	0.01210	+3.402%	$216K	$26K	75x	as long as short
Kraken Futures PF_ZKUSD	+0.4505%	1h	0.01213	+3.661%	$212K	$42K	25x	as long as short