Funding arb · Price arb /

ZK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.008%

Price spread now: GRVT against Lighter−0.662%7-day average +0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs−$160as in the Price arb table

costs, in and out, $10k−$910.913% of the position

Long on Lighter Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.181%+$18 on $10k

Price spread, last 4 days (all we have)+0.494%+$49 · spread now −0.662%, 7d avg +0.030%

Together, before fees+0.675%+ Points / potential airdropLighter: Season 3 · GRVT: Active · farm board+$67 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: GRVT is 0.692% cheaper against Lighter than usual: you would sell low and buy high, −$69 on $10k if it goes back to its 7-day average of +0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ZK	0.01164	0.0096	pay 0.0012% / 1h	19m 11s	$124K	$194K	8x
Short	GRVT ZK_USDT_Perp	0.01156	0.0100	get 0.0050% / 4h	2h 19m	$159K	$2.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.662%Rate

Funding earned: $0.84
Price spread: −0.662% → +0.030%: −$69.18
Slippage, 4 orders: −$82.28
Fee Lighter: 0 bp × 2 orders: $0
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$159.61
Costs to cover: 0.913%
Break-even: 1337.1 days

Slippage from Lighter: live order book, 11 min ago; GRVT: live order book, 4 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, 11 min ago	5.61 bp	21.0 bp −$21	70.9 bp −$709	doesn't fit	doesn't fit
Sell GRVT live order book, 4 min ago	12.99 bp	28.4 bp −$28	124.5 bp −$1,245	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	−0.0123%	4h	0.01165	+0.077%	$991K	$2.1M	20x	as long as short
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	+0.541%	$2K	$31K	5.5x	as long as short
Lighter ZKlong	+0.0096%	1h	0.01164	long leg	$124K	$194K	8x
Hyperliquid ZK	+0.0100%	1h	0.01165	+0.146%	$580K	$179K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01163	−0.065%	$31K	$21K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01163	−0.060%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01164	+0.021%	$4.8M	$8.0M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01164	+0.026%	$5.1M	$2.4M	25x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01163	−0.060%	$296K	$265K	50x	as long as short
KuCoin ZKUSDTM	+0.0100%	4h	0.01164	+0.026%	$956K	$1.5M	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ZKUSDT	+0.0100%	4h	0.01165	+0.112%	$1.4M	$899K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01164	+0.017%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01159	−0.413%	$56K	$13K	—	as long as short
GRVT ZK_USDT_Perpshort	+0.0100%	4h	0.01156	−0.662%	$159K	$2.3M	10x
ApeX Omni ZKUSDT	+0.0100%	1h	0.01155	−0.748%	$8K	$624K	50x	as long as short
BloFin ZK-USDT	+0.0122%	4h	0.01163	−0.052%	$211K	$17K	75x	as long as short
Kraken Futures PF_ZKUSD	+0.1279%	1h	0.01166	+0.209%	$191K	$35K	25x	as long as short