Funding arb · Price arb /

ZK

all ZK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.008%

Price spread now: Lighter against Binance+0.104%7-day average +0.038% · you sell dearer than you buy

Net, funding: paid 7d − costs−$94as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$790.790% of the position

Long on Binance Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.153%−$15 on $10k

Price spread, last 4 days (all we have)−0.092%−$9 · spread now +0.104%, 7d avg +0.038%

Together, before fees−0.245%+ Points / potential airdropLighter: Season 3 · farm board−$24 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: Lighter is 0.067% dearer against Binance than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.038%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ZKUSDT	0.01186	0.0100	pay 0.0050% / 4h	47m 18s	$4.9M	$8.6M	75x
Short	Lighter ZK	0.01187	0.0096	get 0.0012% / 1h	47m 18s	$137K	$179K	8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Binance. 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 BinancebpFee LighterbpOrdersPrice spread, now +0.104%Rate

Funding earned: −$0.84
Price spread: +0.104% → +0.038%: $6.67
Slippage, 4 orders: −$68.99
Fee Binance: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$73.16
Costs to cover: 0.790%
Break-even: never at this rate

Slippage from Binance: live order book, 7 min ago; Lighter: live order book, 58 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 Binance live order book, 7 min ago	0.42 bp	22.6 bp −$23	77.2 bp −$772	doesn't fit	doesn't fit
Sell Lighter live order book, 58 min ago	7.66 bp	8.5 bp −$9	57.0 bp −$570	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
OKX ZK-USDT-SWAP	+0.0010%	4h	0.01185	−0.098%	$1.0M	$2.3M	20x	as long as short
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	−1.346%	$2K	$31K	5.5x	as long as short
BloFin ZK-USDT	+0.0041%	4h	0.01182	−0.343%	$217K	$21K	75x	as long as short
Lighter ZKshort	+0.0096%	1h	0.01187	+0.104%	$137K	$179K	8x
Hyperliquid ZK	+0.0100%	1h	0.01188	+0.155%	$589K	$222K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01186	+0.005%	$32K	$21K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01185	−0.081%	$30K	$3K	5x	as long as short
Binance ZKUSDTlong	+0.0100%	4h	0.01186	long leg	$4.9M	$8.6M	75x
Bybit ZKUSDT	+0.0100%	4h	0.01186	−0.005%	$5.1M	$2.5M	25x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01185	−0.081%	$331K	$230K	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	0.01185	−0.081%	$980K	$1.3M	50x	as long as short
Bitget ZKUSDT	+0.0100%	4h	0.01185	−0.081%	$1.5M	$836K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01185	−0.081%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01184	−0.187%	$58K	$15K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01183	−0.245%	$157K	$2.4M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01181	−0.418%	$8K	$618K	50x	as long as short
Kraken Futures PF_ZKUSD	+0.1921%	1h	0.01190	+0.316%	$196K	$39K	25x	as long as short