Today I saw many people asking me why the ZKJ chain has risen back to 1.2 USD, while the Binance contract is only 0.4 USD. The real reason is due to OKX and Bybit. The ZKJ traded on OKX and Bybit is on the ETH chain, while the ZKJ on Binance Alpha is on the BSC chain. If these two tokens cannot cross-chain, it is equivalent to two standalone tokens. Currently, the price of ZKJ on the ETH chain is around 0.4 USD, while BSC has already returned to 1.2 USD. The Binance contract is based on the ZKJ from the ETH chain. It is worth mentioning that the ZKJ on the ETH chain can currently be transferred to the BSC chain; however, the pool depth is shallow, and the price slippage is approximately the price difference multiplier between BSC and ETH chains. Therefore, arbitrage through on-chain trading is currently not feasible. The only arbitrage that can be done is to profit from the price difference between OKX's spot and the Binance contract.
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