Funding arb · Price arb /

ZK

all ZK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0166%/8h= +18.2% APRpaid last 24h +0.014%

Price spread now: ApeX Omni against OKX−0.017%7-day average +0.108% · you buy dearer than you sell

Net, funding: paid 7d − costs−$94as in the Funding arb table

Net, price: spread back to 7d avg − costs−$109as in the Price arb table

costs, in and out, $10k−$970.967% of the position

Long on OKX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.025%+$2 on $10k

Price spread, last 4 days (all we have)+0.655%+$66 · spread now −0.017%, 7d avg +0.108%

Together, before fees+0.680%+$68 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.125% cheaper against OKX than usual: you would sell low and buy high (spread −0.017% now, against its 7-day average of +0.108%). If the spread goes back, that is −$13 on $10k: about 2.5 days of funding at the current rate (+$5 a day). At the pace of the last 7 days (+0.025% in total) that is about 36 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ZK-USDT-SWAP	0.01179	−0.0066	get 0.0033% / 4h	2h 05m	$1.0M	$2.2M	20x
Short	ApeX Omni ZKUSDT	0.01179	0.0100	get 0.0013% / 1h	5m 16s	$8K	$625K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against OKX. 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 OKXbpFee ApeX OmnibpOrdersPrice spread, now −0.017%Rate

Funding earned: $34.9
Price spread: −0.017% → +0.108%: −$12.51
Slippage, 4 orders: −$76.72
Fee OKX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$74.33
Costs to cover: 0.967%
Break-even: 21.9 days

Slippage from OKX: live order book, 2 min ago; ApeX Omni: live order book, 43 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 OKX live order book, 2 min ago	4.25 bp	23.7 bp −$24	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 43 min ago	12.80 bp	26.4 bp −$26	doesn't fit	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-SWAPlong	−0.0066%	4h	0.01179	long leg	$1.0M	$2.2M	20x
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	−0.780%	$2K	$31K	5.5x	as long as short
BloFin ZK-USDT	+0.0062%	4h	0.01179	+0.025%	$211K	$18K	75x	as long as short
Lighter ZK	+0.0096%	1h	0.01182	+0.195%	$129K	$197K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01180	+0.102%	$586K	$180K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01180	+0.078%	$32K	$21K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01181	+0.178%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01180	+0.078%	$4.9M	$8.1M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01180	+0.034%	$5.1M	$2.4M	25x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01180	+0.068%	$301K	$267K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ZKUSDTM	+0.0100%	4h	0.01179	−0.017%	$971K	$1.5M	50x	as long as short
Bitget ZKUSDT	+0.0100%	4h	0.01180	+0.068%	$1.4M	$912K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01180	+0.059%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01178	−0.094%	$57K	$13K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01178	−0.103%	$155K	$2.3M	10x	as long as short
ApeX Omni ZKUSDTshort	+0.0100%	1h	0.01179	−0.017%	$8K	$625K	50x
Kraken Futures PF_ZKUSD	+0.1260%	1h	0.01183	+0.308%	$202K	$43K	25x	as long as short