Funding arb · Price arb /

ZK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.003%

Price spread now: Bybit against KuCoin+0.017%7-day average −0.105% · you sell dearer than you buy

Net, funding: paid 7d − costs−$256as in the Funding arb table

Net, price: spread back to 7d avg − costs−$240as in the Price arb table

costs, in and out, $10k−$2522.519% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.042%−$4 on $10k

Price spread, last 7 days−0.178%−$18 · spread now +0.017%, 7d avg −0.105%

Together, before fees−0.220%−$22 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.122% dearer against KuCoin than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of −0.105%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ZKUSDTM	0.01178	0.0100	pay 0.0050% / 4h	3h 45m	$972K	$1.4M	50x
Short	Bybit ZKUSDT	0.01178	0.0100	get 0.0050% / 4h	3h 45m	$5.1M	$2.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against KuCoin. 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 KuCoinbpFee BybitbpOrdersPrice spread, now +0.017%Rate

Funding earned: $0
Price spread: +0.017% → −0.105%: $12.17
Slippage, 4 orders: −$228.88
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$239.71
Costs to cover: 2.519%
Break-even: never at this rate

Slippage from KuCoin: live order book, 5 min ago; Bybit: live order book, 2 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 KuCoin live order book, 5 min ago	12.71 bp	108.0 bp −$108	214.8 bp −$2,148	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	3.82 bp	27.0 bp −$27	81.4 bp −$814	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	+0.0004%	4h	0.01178	−0.042%	$1.0M	$2.2M	20x	as long as short
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	−0.679%	$2K	$31K	5.5x	as long as short
Lighter ZK	+0.0096%	1h	0.01180	+0.212%	$135K	$181K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01180	+0.178%	$588K	$188K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01180	+0.139%	$32K	$21K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01179	+0.093%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01180	+0.134%	$4.9M	$8.2M	75x	as long as short
Bybit ZKUSDTshort	+0.0100%	4h	0.01178	+0.017%	$5.1M	$2.4M	25x
Gate ZK_USDT	+0.0100%	8h	0.01178	0.000%	$308K	$252K	50x	as long as short
KuCoin ZKUSDTMlong	+0.0100%	4h	0.01178	long leg	$972K	$1.4M	50x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ZKUSDT	+0.0100%	4h	0.01180	+0.170%	$1.5M	$844K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01178	+0.008%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01178	−0.039%	$57K	$15K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01180	+0.199%	$161K	$2.3M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01180	+0.170%	$8K	$618K	50x	as long as short
BloFin ZK-USDT	+0.0149%	4h	0.01180	+0.153%	$216K	$21K	75x	as long as short
Kraken Futures PF_ZKUSD	+0.1328%	1h	0.01183	+0.432%	$194K	$38K	25x	as long as short