Funding arb · Price arb /

ZK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.013%

Price spread now: Variational Omni against Injective+0.183%61s7-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 Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Variational Omni is 0.183% dearer against Injective than usual: you sell high and buy low: +$18 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 61 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	2m 08s	$2K	$31K	5.5x
Short	Variational Omni ZK	0.01172	0.0100	get 0.0050% / 4h	2h 02m	$57K	$15K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.183%Rate

Funding earned: $14
Price spread: +0.183% → 0.000%: $18.33
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $32.31
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Variational Omni: no order-book sample. 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 Variational Omni no order-book sample	—	—	—	—	—

Injective and Variational Omni: 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 16 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	−0.0115%	4h	0.01172	+0.154%	$1.0M	$2.3M	20x	as long as short
Injective ZK/USDC PERPlong	+0.0033%	1h	0.01170	long leg	$2K	$31K	5.5x
Lighter ZK	+0.0096%	1h	0.01174	+0.368%	$135K	$182K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01174	+0.333%	$583K	$229K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01173	+0.214%	$31K	$20K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01172	+0.145%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01173	+0.222%	$4.8M	$9.0M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01171	+0.103%	$5.0M	$2.6M	25x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01173	+0.256%	$327K	$243K	50x	as long as short
KuCoin ZKUSDTM	+0.0100%	4h	0.01172	+0.171%	$975K	$1.2M	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ZKUSDT	+0.0100%	4h	0.01173	+0.256%	$1.5M	$861K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01172	+0.188%	—	$6.7M	—	as long as short
Variational Omni ZKshort	+0.0100%	4h	0.01172	+0.183%	$57K	$15K	—
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01174	+0.342%	$155K	$2.6M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01173	+0.256%	$9K	$623K	50x	as long as short
Kraken Futures PF_ZKUSD	+0.0735%	1h	0.01175	+0.462%	$193K	$42K	25x	as long as short