Funding arb · Price arb /

ZK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.002%

Price spread now: Lighter against Aster+0.066%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Aster Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · Lighter: Season 3 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.066% dearer against Aster than usual: you sell high and buy low, +$7 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ZKUSDT	0.01204	0.0100	pay 0.0050% / 4h	3h 39m	$33K	$23K	10x
Short	Lighter ZK	0.01205	0.0096	get 0.0012% / 1h	39m 46s	$129K	$186K	8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Aster. 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 AsterbpFee LighterbpOrdersPrice spread, now +0.066%Rate

Funding earned: −$0.84
Price spread: +0.066% → 0.000%: $6.62
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$2.22
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Aster: no order-book sample; Lighter: live order book, 40 min ago. Net counts fees only.

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 Aster no order-book sample	—	—	—	—	—
Sell Lighter live order book, 40 min ago	7.56 bp	9.2 bp −$9	70.6 bp −$706	doesn't fit	doesn't fit

Aster: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−2.848%	$2K	$31K	5.5x	as long as short
BloFin ZK-USDT	+0.0055%	4h	0.01207	+0.207%	$216K	$20K	75x	as long as short
Lighter ZKshort	+0.0096%	1h	0.01205	+0.066%	$129K	$186K	8x
Hyperliquid ZK	+0.0100%	1h	0.01204	−0.042%	$598K	$167K	5x	as long as short
Aster ZKUSDTlong	+0.0100%	4h	0.01204	long leg	$33K	$23K	10x
Pacifica ZK	+0.0100%	1h	0.01204	−0.025%	$30K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01203	−0.109%	$5.0M	$7.9M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01202	−0.191%	$5.2M	$2.5M	25x	as long as short
OKX ZK-USDT-SWAP	+0.0100%	4h	0.01202	−0.175%	$1.0M	$2.2M	20x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01204	−0.025%	$305K	$259K	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	0.01203	−0.108%	$973K	$1.7M	50x	as long as short
Bitget ZKUSDT	+0.0100%	4h	0.01205	+0.058%	$1.5M	$910K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01203	−0.075%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01203	−0.096%	$58K	$13K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01205	+0.036%	$162K	$2.1M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01203	−0.108%	$8K	$631K	50x	as long as short
Kraken Futures PF_ZKUSD	+0.3512%	1h	0.01214	+0.767%	$212K	$47K	25x	as long as short