Funding you earn now, next payment 11:00 UTC+4.0224%/8h= +4404.5% APRnext payment +$50.28 per $10,000 · paid last 24h +0.636%
Price spread now: Kraken Futures against Lighter−0.245%7-day average +0.203% · you buy dearer than you sell
Net, funding: paid 7d − costs+$33as in the Funding arb table
Net, price: spread back to 7d avg − costs−$209as in the Price arb table
costs, in and out, $10k−$1641.640% of the position
Funding, last 7 days+1.970%+$197 on $10k
+Price spread, last 4 days (all we have)+0.368%+$37 · spread now −0.245%, 7d avg +0.203%
=Together, before fees+2.338%+ Points / potential airdropLighter: Season 3 · farm board+$234 on $10k · with fees, hour by hour
Funding pays, the price is against you. Kraken Futures is 0.447% cheaper against Lighter than usual: you would sell low and buy high (spread −0.245% now, against its 7-day average of +0.203%). If the spread goes back, that is −$45 on $10k: about under an hour of funding at the current rate (+$1,207 a day). At the pace of the last 7 days (+1.970% in total) that is about 38 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 1.970% in total (about 102.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$50.28 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter ZK | 0.01192 | 0.0096 | pay 0.0012% / 1h | 28m 49s | $129K | $181K | 8x |
| Short | Kraken Futures PF_ZKUSD | 0.01189 | 4.0320 | get 0.5040% / 1h | 28m 49s | $209K | $54K | 25x |
Lighter ZK
Kraken Futures PF_ZKUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Lighter. 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
- $8,447.04
- Price spread: −0.245% → +0.203%
- −$44.72
- Slippage, 4 orders
- −$154.05
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $8,238.28
- Costs to cover
- 1.640%
- Break-even
- 0.2 days
Slippage from Lighter: live order book, 8 min ago; Kraken Futures: live order book, 17 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, 8 min ago | 9.22 bp | 26.1 bp −$26 | 67.7 bp −$677 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 17 min ago | 36.36 bp | 64.9 bp −$65 | 235.2 bp −$2,352 | doesn't fit | doesn't fit |
ZK on 17 exchanges
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 | −1.879% | $2K | $31K | 5.5x | as long as short |
| Lighter ZKlong | +0.0096% | 1h | 0.01192 | long leg | $129K | $181K | 8x | |
| Hyperliquid ZK | +0.0100% | 1h | 0.01189 | −0.260% | $585K | $174K | 5x | as long as short |
| Aster ZKUSDT | +0.0100% | 4h | 0.01191 | −0.084% | $33K | $20K | 10x | as long as short |
| Pacifica ZK | +0.0100% | 1h | 0.01191 | −0.092% | $29K | $2K | 5x | as long as short |
| Binance ZKUSDT | +0.0100% | 4h | 0.01189 | −0.248% | $4.9M | $7.8M | 75x | as long as short |
| Bybit ZKUSDT | +0.0100% | 4h | 0.01190 | −0.235% | $5.1M | $2.5M | 25x | as long as short |
| OKX ZK-USDT-SWAP | +0.0100% | 4h | 0.01188 | −0.377% | $996K | $2.1M | 20x | as long as short |
| Gate ZK_USDT | +0.0100% | 8h | 0.01192 | −0.034% | $304K | $270K | 50x | as long as short |
| KuCoin ZKUSDTM | +0.0100% | 4h | 0.01190 | −0.201% | $960K | $1.8M | 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 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget ZKUSDT | +0.0100% | 4h | 0.01190 | −0.201% | $1.5M | $869K | 75x | as long as short |
| BingX ZK-USDT | +0.0100% | 4h | 0.01191 | −0.159% | — | $6.7M | — | as long as short |
| Variational Omni ZK | +0.0100% | 4h | 0.01190 | −0.200% | $57K | $4K | — | as long as short |
| GRVT ZK_USDT_Perp | +0.0100% | 4h | 0.01192 | −0.019% | $162K | $1.9M | 10x | as long as short |
| ApeX Omni ZKUSDT | +0.0100% | 1h | 0.01192 | −0.034% | $8K | $635K | 50x | as long as short |
| BloFin ZK-USDT | +0.0125% | 4h | 0.01193 | +0.025% | $214K | $27K | 75x | as long as short |
| Kraken Futures PF_ZKUSDshort | +4.0320% | 1h | 0.01189 | −0.245% | $209K | $54K | 25x |
Bitget ZKUSDT
BingX ZK-USDT
Variational Omni ZK
GRVT ZK_USDT_Perp
ApeX Omni ZKUSDT
BloFin ZK-USDT