Funding arb · Price arb /

ZK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.019%

Price spread now: Gate against Lighter−0.203%7-day average 0.000% · you buy dearer than you sell

Net, funding: paid 7d − costs−$106as in the Funding arb table

Net, price: spread back to 7d avg − costs−$145as in the Price arb table

costs, in and out, $10k−$1251.249% of the position

Long on Lighter Short on Gate

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)+0.142%+$14 · spread now −0.203%, 7d avg 0.000%

Together, before fees+0.327%+ Points / potential airdropLighter: Season 3 · farm board+$33 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: Gate is 0.204% cheaper against Lighter than usual: you would sell low and buy high, −$20 on $10k if it goes back to its 7-day average of 0.000%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ZK	0.01180	0.0096	pay 0.0012% / 1h	56m 52s	$129K	$165K	8x
Short	Gate ZK_USDT	0.01178	0.0100	get 0.0100% / 8h	56m 52s	$322K	$244K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.203%Rate

Funding earned: $0.84
Price spread: −0.203% → 0.000%: −$20.35
Slippage, 4 orders: −$109.86
Fee Lighter: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$144.37
Costs to cover: 1.249%
Break-even: 1210.1 days

Slippage from Lighter: live order book, 3 min ago; Gate: live order book, 18 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, 3 min ago	25.02 bp	32.9 bp −$33	427.9 bp −$4,279	doesn't fit	doesn't fit
Sell Gate live order book, 18 min ago	8.57 bp	33.4 bp −$33	doesn't fit	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	−0.881%	$2K	$31K	5.5x	as long as short
OKX ZK-USDT-SWAP	+0.0036%	4h	0.01179	−0.127%	$954K	$2.3M	20x	as long as short
Lighter ZKlong	+0.0096%	1h	0.01180	long leg	$129K	$165K	8x
BloFin ZK-USDT	+0.0097%	4h	0.01178	−0.220%	$213K	$25K	75x	as long as short
Hyperliquid ZK	+0.0100%	1h	0.01179	−0.076%	$598K	$237K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01179	−0.087%	$37K	$19K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01177	−0.271%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01179	−0.145%	$4.8M	$9.8M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01178	−0.195%	$5.0M	$2.6M	25x	as long as short
Gate ZK_USDTshort	+0.0100%	8h	0.01178	−0.203%	$322K	$244K	50x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ZKUSDTM	+0.0100%	4h	0.01177	−0.288%	$990K	$1.0M	50x	as long as short
Bitget ZKUSDT	+0.0100%	4h	0.01178	−0.203%	$1.5M	$854K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01178	−0.169%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01172	−0.712%	$57K	$15K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01175	−0.457%	$161K	$2.8M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01175	−0.457%	$8K	$626K	50x	as long as short
Kraken Futures PF_ZKUSD	+0.1408%	1h	0.01182	+0.153%	$196K	$43K	25x	as long as short