Funding you earn now, next payment 09:00 UTC−0.3425%/8h= −375.1% APRnext payment −$4.28 per $10,000 · paid last 24h −0.600%
Price spread now: Lighter against Kraken Futures−0.246%7-day average −0.207% · you buy dearer than you sell
Net, funding: paid 7d − costs−$365as in the Funding arb table
Net, price: spread back to 7d avg − costs−$188as in the Price arb table
costs, in and out, $10k−$1841.838% of the position
Funding, last 7 days−1.817%−$182 on $10k
+Price spread, last 4 days (all we have)+0.329%+$33 · spread now −0.246%, 7d avg −0.207%
=Together, before fees−1.488%+ Points / potential airdropLighter: Season 3 · farm board−$149 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$103 a day on $10k at the current rate, and Lighter is 0.039% cheaper against Kraken Futures than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.207%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -1.817% in total (about -94.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$4.28 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_ZKUSD | 0.01210 | 0.3521 | pay 0.0440% / 1h | 46m 44s | $211K | $47K | 25x |
| Short | Lighter ZK | 0.01208 | 0.0096 | get 0.0012% / 1h | 46m 44s | $129K | $186K | 8x |
Kraken Futures PF_ZKUSD
Lighter ZKFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Kraken Futures. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$719.31
- Price spread: −0.246% → −0.207%
- −$3.95
- Slippage, 4 orders
- −$173.79
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$907.05
- Costs to cover
- 1.838%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 51 min ago; Lighter: live order book, 33 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 Kraken Futures live order book, 51 min ago | 39.10 bp | 90.3 bp −$90 | 19403.4 bp −$194.0K | doesn't fit | doesn't fit |
| Sell Lighter live order book, 33 min ago | 7.56 bp | 9.2 bp −$9 | 70.6 bp −$706 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective ZK/USDC PERP | +0.0033% | 1h | 0.01170 | −3.344% | $2K | $31K | 5.5x | as long as short |
| Lighter ZKshort | +0.0096% | 1h | 0.01208 | −0.246% | $129K | $186K | 8x | |
| Hyperliquid ZK | +0.0100% | 1h | 0.01207 | −0.279% | $599K | $166K | 5x | as long as short |
| Aster ZKUSDT | +0.0100% | 4h | 0.01207 | −0.313% | $33K | $23K | 10x | as long as short |
| Pacifica ZK | +0.0100% | 1h | 0.01206 | −0.370% | $30K | $3K | 5x | as long as short |
| Binance ZKUSDT | +0.0100% | 4h | 0.01206 | −0.362% | $5.0M | $7.9M | 75x | as long as short |
| Bybit ZKUSDT | +0.0100% | 4h | 0.01206 | −0.378% | $5.2M | $2.4M | 25x | as long as short |
| OKX ZK-USDT-SWAP | +0.0100% | 4h | 0.01205 | −0.469% | $1.0M | $2.2M | 20x | as long as short |
| Gate ZK_USDT | +0.0100% | 8h | 0.01205 | −0.453% | $306K | $258K | 50x | as long as short |
| KuCoin ZKUSDTM | +0.0100% | 4h | 0.01206 | −0.370% | $981K | $1.7M | 50x | as long as short |
Injective ZK/USDC PERP
Hyperliquid ZK
Aster ZKUSDT
Pacifica ZK
Binance ZKUSDT
Bybit ZKUSDT
OKX ZK-USDT-SWAP
Gate ZK_USDT
KuCoin ZKUSDTMShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget ZKUSDT | +0.0100% | 4h | 0.01206 | −0.370% | $1.5M | $900K | 75x | as long as short |
| BingX ZK-USDT | +0.0100% | 4h | 0.01206 | −0.362% | — | $6.7M | — | as long as short |
| Variational Omni ZK | +0.0100% | 4h | 0.01201 | −0.820% | $58K | $13K | — | as long as short |
| GRVT ZK_USDT_Perp | +0.0100% | 4h | 0.01203 | −0.618% | $161K | $2.1M | 10x | as long as short |
| ApeX Omni ZKUSDT | +0.0100% | 1h | 0.01203 | −0.618% | $8K | $630K | 50x | as long as short |
| BloFin ZK-USDT | +0.0129% | 4h | 0.01204 | −0.552% | $216K | $20K | 75x | as long as short |
| Kraken Futures PF_ZKUSDlong | +0.3521% | 1h | 0.01210 | long leg | $211K | $47K | 25x |
Bitget ZKUSDT
BingX ZK-USDT
Variational Omni ZK
GRVT ZK_USDT_Perp
ApeX Omni ZKUSDT
BloFin ZK-USDT