Funding arb · Price arb /

ZK

all ZK markets

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: Binance against Lighter−0.200%7-day average −0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$91as in the Price arb table

costs, in and out, $10k−$740.742% of the position

Long on Lighter Short on Binance

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)+0.048%+$5 · spread now −0.200%, 7d avg −0.033%

Together, before fees+0.201%+ Points / potential airdropLighter: Season 3 · farm board+$20 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: Binance is 0.166% cheaper against Lighter than usual: you would sell low and buy high, −$17 on $10k if it goes back to its 7-day average of −0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ZK	0.01177	0.0096	pay 0.0012% / 1h	26m 50s	$131K	$176K	8x
Short	Binance ZKUSDT	0.01174	0.0100	get 0.0050% / 4h	2h 26m	$4.8M	$9.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Lighter. 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 LighterbpFee BinancebpOrdersPrice spread, now −0.200%Rate

Funding earned: $0.84
Price spread: −0.200% → −0.033%: −$16.65
Slippage, 4 orders: −$64.17
Fee Lighter: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: −$89.98
Costs to cover: 0.742%
Break-even: 756.9 days

Slippage from Lighter: live order book, 23 min ago; Binance: live order book, 13 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 Lighter live order book, 23 min ago	10.66 bp	24.6 bp −$25	72.9 bp −$729	doesn't fit	doesn't fit
Sell Binance live order book, 13 min ago	1.29 bp	16.3 bp −$16	61.2 bp −$612	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	−0.0172%	4h	0.01174	−0.195%	$1.0M	$2.4M	20x	as long as short
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	−0.569%	$2K	$31K	5.5x	as long as short
Lighter ZKlong	+0.0096%	1h	0.01177	long leg	$131K	$176K	8x
Hyperliquid ZK	+0.0100%	1h	0.01175	−0.102%	$584K	$237K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01175	−0.107%	$37K	$19K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01176	−0.042%	$29K	$3K	5x	as long as short
Binance ZKUSDTshort	+0.0100%	4h	0.01174	−0.200%	$4.8M	$9.1M	75x
Bybit ZKUSDT	+0.0100%	4h	0.01174	−0.212%	$5.0M	$2.6M	25x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01175	−0.144%	$327K	$240K	50x	as long as short
KuCoin ZKUSDTM	+0.0100%	4h	0.01173	−0.314%	$975K	$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	0.01175	−0.144%	$1.5M	$856K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01175	−0.170%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01172	−0.368%	$57K	$15K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01174	−0.261%	$161K	$2.6M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01172	−0.399%	$9K	$624K	50x	as long as short
Kraken Futures PF_ZKUSD	+0.0733%	1h	0.01178	+0.140%	$194K	$43K	25x	as long as short