ZK arbitrage explained
Right now ZKsync (ZK) trades on 10 venues we scan: 9 perpetual markets, 7 spot markets and 0 DEX pools. The lowest ask is on OKX perp at $0.0129 and the highest bid on Gate spot at $0.013.
The widest ZK perpetual spread is between OKX and Hyperliquid: long ZK on OKX at $0.0129 and short on Hyperliquid at $0.0129 for +0.09% gross, or -0.07% after the 0.16% two-leg fee model. No transfer is needed: both positions stay on their exchanges until the prices converge. The funding difference on this pair is +0.042% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best ZK route is to buy spot on OKX and short the perpetual on Hyperliquid: -0.10% gross, -0.30% net, with +0.030% a day of funding on the short leg.
Spot–spot ZK arbitrage (buy on OKX, withdraw, deposit and sell on Binance) shows -0.02% gross right now. It only works if withdrawals on the buying exchange and deposits on the selling exchange are open, so check the D/W dots before moving coins.
Small ZK gaps usually disappear after fees, slippage and funding. Look at the Net column, the executable Depth and the spread history before trading: a gap that has been open for days is a different trade from a one-minute spike.
Related: ZK funding rates · ZK spread charts · ZKsync price · arbitrage scanner for all coins.