Funding arb · Price arb /

ZK

all ZK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.1259%/8h= +137.8% APRpaid last 24h +0.564%

Price spread now: Kraken Futures against KuCoin+0.462%7-day average +0.188% · you sell dearer than you buy

Net, funding: paid 7d − costs−$232as in the Funding arb table

Net, price: spread back to 7d avg − costs−$335as in the Price arb table

costs, in and out, $10k−$3623.623% of the position

Long on KuCoin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+1.308%+$131 on $10k

Price spread, last 3 days (all we have)−0.272%−$27 · spread now +0.462%, 7d avg +0.188%

Together, before fees+1.036%+$104 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$38 a day on $10k at the current rate, and Kraken Futures is 0.274% dearer against KuCoin than usual: you sell high and buy low: +$27 more if the spread goes back to its 7-day average of +0.188%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ZKUSDTM	0.01177	0.0100	pay 0.0050% / 4h	3h 23m	$985K	$1.2M	50x
Short	Kraken Futures PF_ZKUSD	0.01182	0.1359	get 0.0170% / 1h	23m 09s	$195K	$43K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.462%Rate

Funding earned: $264.3
Price spread: +0.462% → +0.188%: $27.39
Slippage, 4 orders: −$340.29
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$70.59
Costs to cover: 3.623%
Break-even: 8.9 days

Slippage from KuCoin: live order book, 2 min ago; Kraken Futures: live order book, 49 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, 2 min ago	12.74 bp	101.3 bp −$101	216.4 bp −$2,164	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 49 min ago	36.46 bp	48.7 bp −$49	224.7 bp −$2,247	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	−0.0099%	4h	0.01175	−0.127%	$1.0M	$2.3M	20x	as long as short
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	−0.595%	$2K	$31K	5.5x	as long as short
Lighter ZK	+0.0096%	1h	0.01179	+0.178%	$131K	$173K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01178	+0.076%	$585K	$241K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01179	+0.151%	$37K	$19K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01178	+0.085%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01176	−0.042%	$4.8M	$9.5M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01177	−0.008%	$5.0M	$2.6M	25x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01177	0.000%	$331K	$241K	50x	as long as short
KuCoin ZKUSDTMlong	+0.0100%	4h	0.01177	long leg	$985K	$1.2M	50x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ZKUSDT	+0.0100%	4h	0.01177	0.000%	$1.5M	$851K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01176	−0.042%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01176	−0.046%	$57K	$15K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01178	+0.093%	$164K	$2.7M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01175	−0.170%	$9K	$625K	50x	as long as short
BloFin ZK-USDT	+0.0147%	4h	0.01177	−0.034%	$214K	$22K	75x	as long as short
Kraken Futures PF_ZKUSDshort	+0.1359%	1h	0.01182	+0.462%	$195K	$43K	25x