Funding arb · Price arb /

ZK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.004%

Price spread now: Lighter against Variational Omni+0.274%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · Lighter: Season 3 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.274% dearer against Variational Omni than usual: you sell high and buy low, +$27 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ZK	0.01170	0.0100	pay 0.0050% / 4h	1h 41m	$57K	$15K	—
Short	Lighter ZK	0.01173	0.0096	get 0.0012% / 1h	41m 25s	$135K	$182K	8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Variational Omni. 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 Variational OmnibpFee LighterbpOrdersPrice spread, now +0.274%Rate

Funding earned: −$0.84
Price spread: +0.274% → 0.000%: $27.4
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: $26.56
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Variational Omni: no order-book sample; Lighter: live order book, 3 min ago. Net counts fees only.

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 Variational Omni no order-book sample	—	—	—	—	—
Sell Lighter live order book, 3 min ago	7.66 bp	8.5 bp −$9	57.0 bp −$570	doesn't fit	doesn't fit

Variational Omni: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0105%	4h	0.01171	+0.086%	$1.0M	$2.3M	20x	as long as short
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	+0.035%	$2K	$31K	5.5x	as long as short
BloFin ZK-USDT	+0.0081%	4h	0.01173	+0.317%	$217K	$20K	75x	as long as short
Lighter ZKshort	+0.0096%	1h	0.01173	+0.274%	$135K	$182K	8x
Hyperliquid ZK	+0.0100%	1h	0.01172	+0.240%	$583K	$225K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01172	+0.186%	$31K	$20K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01171	+0.120%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01171	+0.137%	$4.8M	$8.8M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01171	+0.086%	$5.0M	$2.5M	25x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01172	+0.206%	$326K	$231K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ZKUSDTM	+0.0100%	4h	0.01170	+0.035%	$976K	$1.3M	50x	as long as short
Bitget ZKUSDT	+0.0100%	4h	0.01171	+0.120%	$1.5M	$838K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01171	+0.086%	—	$6.7M	—	as long as short
Variational Omni ZKlong	+0.0100%	4h	0.01170	long leg	$57K	$15K	—
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01174	+0.418%	$155K	$2.5M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01173	+0.291%	$9K	$620K	50x	as long as short
Kraken Futures PF_ZKUSD	+0.1598%	1h	0.01177	+0.670%	$194K	$39K	25x	as long as short