Funding arb · Price arb /

ZK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.004%

Price spread now: OKX against Injective+2.991%48s7-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 OKX

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 OKX is 2.991% dearer against Injective than usual: you sell high and buy low: +$299 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

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	42m 39s	$2K	$31K	5.5x
Short	OKX ZK-USDT-SWAP	0.01205	0.0100	get 0.0050% / 4h	3h 42m	$1.0M	$2.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +2.991%Rate

Funding earned: $14
Price spread: +2.991% → 0.000%: $299.15
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee OKX: 5 bp × 2 orders: −$10
Net: $303.13
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; OKX: live order book, 4 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 OKX live order book, 4 min ago	2.07 bp	30.1 bp −$30	157.9 bp −$1,579	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	0.01207	+3.145%	$129K	$186K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01206	+3.103%	$599K	$167K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01206	+3.068%	$33K	$23K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01205	+3.034%	$30K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01206	+3.084%	$5.0M	$7.9M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01205	+3.026%	$5.2M	$2.4M	25x	as long as short
OKX ZK-USDT-SWAPshort	+0.0100%	4h	0.01205	+2.991%	$1.0M	$2.2M	20x
Gate ZK_USDT	+0.0100%	8h	0.01205	+2.991%	$305K	$259K	50x	as long as short
KuCoin ZKUSDTM	+0.0100%	4h	0.01204	+2.906%	$977K	$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	0.01205	+2.991%	$1.5M	$909K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01205	+3.017%	—	$6.6M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01202	+2.765%	$58K	$13K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01206	+3.090%	$162K	$2.1M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01203	+2.821%	$8K	$631K	50x	as long as short
BloFin ZK-USDT	+0.0134%	4h	0.01207	+3.145%	$216K	$20K	75x	as long as short
Kraken Futures PF_ZKUSD	+0.3515%	1h	0.01212	+3.631%	$211K	$47K	25x	as long as short