Funding arb · Price arb /

ZK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.013%

Price spread now: Bitget against OKX+0.158%7-day average +0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$87as in the Funding arb table

Net, price: spread back to 7d avg − costs−$79as in the Price arb table

costs, in and out, $10k−$910.912% of the position

Long on OKX Short on Bitget

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−0.099%−$10 · spread now +0.158%, 7d avg +0.033%

Together, before fees−0.057%−$6 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: Bitget is 0.125% dearer against OKX than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of +0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ZK-USDT-SWAP	0.01205	0.0100	pay 0.0050% / 4h	2h 59m	$1.0M	$2.1M	20x
Short	Bitget ZKUSDT	0.01207	0.0100	get 0.0050% / 4h	2h 59m	$1.5M	$811K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.158%Rate

Funding earned: $0
Price spread: +0.158% → +0.033%: $12.48
Slippage, 4 orders: −$69.22
Fee OKX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$78.74
Costs to cover: 0.912%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; Bitget: live order book, 3 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, 3 min ago	4.13 bp	25.9 bp −$26	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	8.26 bp	24.2 bp −$24	56.9 bp −$569	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
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	−2.913%	$2K	$31K	5.5x	as long as short
Lighter ZK	+0.0096%	1h	0.01208	+0.257%	$128K	$175K	8x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01208	+0.232%	$598K	$163K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01206	+0.037%	$33K	$22K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01209	+0.324%	$30K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01206	+0.083%	$5.0M	$7.7M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01206	+0.058%	$5.1M	$2.5M	25x	as long as short
OKX ZK-USDT-SWAPlong	+0.0100%	4h	0.01205	long leg	$1.0M	$2.1M	20x
Gate ZK_USDT	+0.0100%	8h	0.01208	+0.241%	$303K	$253K	50x	as long as short
KuCoin ZKUSDTM	+0.0100%	4h	0.01205	−0.008%	$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 ZKUSDTshort	+0.0100%	4h	0.01207	+0.158%	$1.5M	$811K	75x
BingX ZK-USDT	+0.0100%	4h	0.01207	+0.183%	—	$6.6M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01208	+0.230%	$58K	$8K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01211	+0.490%	$162K	$2.1M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01210	+0.407%	$8K	$633K	50x	as long as short
BloFin ZK-USDT	+0.0151%	4h	0.01208	+0.266%	$216K	$26K	75x	as long as short
Kraken Futures PF_ZKUSD	+0.4505%	1h	0.01213	+0.642%	$212K	$42K	25x	as long as short