Funding arb · Price arb /

ZK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.010%

Price spread now: Lighter against Gate+0.179%7-day average +0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$129as in the Funding arb table

Net, price: spread back to 7d avg − costs−$93as in the Price arb table

costs, in and out, $10k−$1101.103% of the position

Long on Gate Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.184%−$18 on $10k

Price spread, last 4 days (all we have)−0.110%−$11 · spread now +0.179%, 7d avg +0.008%

Together, before fees−0.295%+ Points / potential airdropLighter: Season 3 · farm board−$29 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 0.171% dearer against Gate than usual: you sell high and buy low, +$17 on $10k if it goes back to its 7-day average of +0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ZK_USDT	0.01173	0.0100	pay 0.0100% / 8h	6h 06m	$327K	$243K	50x
Short	Lighter ZK	0.01175	0.0096	get 0.0012% / 1h	6m 07s	$136K	$182K	8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Gate. 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 GatebpFee LighterbpOrdersPrice spread, now +0.179%Rate

Funding earned: −$0.84
Price spread: +0.179% → +0.008%: $17.12
Slippage, 4 orders: −$95.34
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter: 0 bp × 2 orders: $0
Net: −$94.06
Costs to cover: 1.103%
Break-even: never at this rate

Slippage from Gate: live order book, 59 min ago; Lighter: live order book, 44 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 Gate live order book, 59 min ago	8.48 bp	38.9 bp −$39	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 44 min ago	10.66 bp	11.6 bp −$12	55.8 bp −$558	doesn't fit	doesn't fit

ZK on 16 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	−0.0128%	4h	0.01174	+0.077%	$1.0M	$2.3M	20x	as long as short
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	−0.256%	$2K	$31K	5.5x	as long as short
Lighter ZKshort	+0.0096%	1h	0.01175	+0.179%	$136K	$182K	8x
Hyperliquid ZK	+0.0100%	1h	0.01175	+0.153%	$583K	$229K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01173	+0.026%	$31K	$20K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01173	+0.009%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01173	+0.020%	$4.8M	$9.0M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01172	−0.043%	$5.0M	$2.6M	25x	as long as short
Gate ZK_USDTlong	+0.0100%	8h	0.01173	long leg	$327K	$243K	50x
KuCoin ZKUSDTM	+0.0100%	4h	0.01173	0.000%	$977K	$1.2M	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ZKUSDT	+0.0100%	4h	0.01173	0.000%	$1.5M	$862K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01173	−0.026%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01172	−0.073%	$57K	$15K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01172	−0.085%	$155K	$2.6M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01171	−0.171%	$9K	$623K	50x	as long as short
Kraken Futures PF_ZKUSD	+0.0734%	1h	0.01177	+0.352%	$194K	$43K	25x	as long as short