ZKC arbitrage explained
Right now Boundless (ZKC) trades on 9 venues we scan: 9 perpetual markets, 6 spot markets and 0 DEX pools. The lowest ask is on MEXC perp at $0.0402 and the highest bid on Bybit perp at $0.0404.
The widest ZKC perpetual spread is between MEXC and Bybit: long ZKC on MEXC at $0.0402 and short on Bybit at $0.0404 for +0.50% gross, or +0.34% 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 -0.843% per day, which the position pays while it is open.
For a spot–perpetual (cash-and-carry) trade, the best ZKC route is to buy spot on Bybit and short the perpetual on Bybit: +0.45% gross, +0.25% net, with -0.851% a day of funding on the short leg.
Spot–spot ZKC arbitrage (buy on Gate, withdraw, deposit and sell on Bybit) shows -0.05% 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 ZKC 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: ZKC funding rates · ZKC spread charts · Boundless price · arbitrage scanner for all coins.