Funding you earn now, next payment 05:00 UTC−0.0363%/8h= −39.8% APRnext payment −$0.45 per $10,000 · paid last 24h +0.106%
Price spread now: Lighter against Kraken Futures+0.040%7-day average +0.077% · you sell dearer than you buy
Net, funding: paid 7d − costs−$107as in the Funding arb table
Net, price: spread back to 7d avg − costs−$130as in the Price arb table
costs, in and out, $10k−$1261.260% of the position
Funding, last 7 days+0.185%+$19 on $10k
+Price spread, last 4 days (all we have)+0.599%+$60 · spread now +0.040%, 7d avg +0.077%
=Together, before fees+0.784%+ Points / potential airdropLighter: Season 3 · farm board+$78 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Lighter is 0.037% cheaper against Kraken Futures than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.077%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.185%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.185% in total (about 9.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.45 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_ZROUSD | 1.1801 | 0.0459 | pay 0.0057% / 1h | 51m 09s | $259K | $387K | 25x |
| Short | Lighter ZRO | 1.1806 | 0.0096 | get 0.0012% / 1h | 51m 09s | $4.4M | $1.2M | 5x |
Kraken Futures PF_ZROUSD
Lighter ZROFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Kraken Futures. 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
- −$76.29
- Price spread: +0.040% → +0.077%
- −$3.68
- Slippage, 4 orders
- −$116.03
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$205.99
- Costs to cover
- 1.260%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 2 min ago; Lighter: live order book, 6 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 Kraken Futures live order book, 2 min ago | 31.31 bp | 54.0 bp −$54 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 6 min ago | 11.76 bp | 23.6 bp −$24 | 95.7 bp −$957 | doesn't fit | doesn't fit |
ZRO on 26 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX ZRO-USD | 0.0000% | 1h | 1.1803 | +0.018% | $21K | $4K | 5x | as long as short |
| Orderly PERP_ZRO_USDC | +0.0047% | 4h | 1.1795 | −0.050% | $21K | $5K | 10x | as long as short |
| Lighter ZROshort | +0.0096% | 1h | 1.1806 | +0.040% | $4.4M | $1.2M | 5x | |
| Aster ZROUSDT | +0.0100% | 4h | 1.1813 | +0.101% | $159K | $150K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1805 | +0.034% | $137K | $178K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1786 | −0.126% | $22.1M | $29.9M | 75x | as long as short |
| Bybit ZROUSDT | +0.0100% | 4h | 1.1779 | −0.186% | $18.0M | $13.9M | 50x | as long as short |
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1790 | −0.092% | $3.2M | $8.0M | 20x | as long as short |
| Gate ZRO_USDT | +0.0100% | 4h | 1.1810 | +0.077% | $1.4M | $1.5M | 75x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1788 | −0.109% | $19.3M | $2.7M | 125x | as long as short |
dYdX ZRO-USD
Orderly PERP_ZRO_USDC
Aster ZROUSDT
Pacifica ZRO
Binance ZROUSDT
Bybit ZROUSDT
OKX ZRO-USDT-SWAP
Gate ZRO_USDT
MEXC ZRO_USDTShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1794 | −0.058% | $2.4M | $2.0M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1793 | −0.067% | $2.7M | $2.6M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1809 | +0.069% | — | $16.4M | — | as long as short |
| Variational Omni ZRO | +0.0100% | 4h | 1.1756 | −0.381% | $2.3M | $810K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1790 | −0.092% | $39K | $675K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1806 | +0.043% | $100K | $851K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1791 | −0.087% | $21K | — | 3x | as long as short |
| BloFin ZRO-USDT | +0.0115% | 4h | 1.1805 | +0.035% | $1.1M | $251K | 75x | as long as short |
| Backpack ZRO_USDC_PERP | +0.0176% | 1h | 1.1806 | +0.043% | $102K | $220K | 20x | as long as short |
| Nado ZRO-PERP | +0.0228% | 1h | 1.1801 | −0.002% | $1.3M | $124K | 5x | as long as short |
| 01 Exchange ZROUSD | +0.0272% | 1h | 1.1807 | +0.053% | $7K | $3K | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0293% / S −0.2341% | 1h | 1.1796 | −0.039% | $3K | — | 100x | as long as short |
| Kraken Futures PF_ZROUSDlong | +0.0459% | 1h | 1.1801 | long leg | $259K | $387K | 25x | |
| Hyperliquid ZRO | +0.0464% | 1h | 1.1816 | +0.128% | $37.5M | $5.4M | 5x | as long as short |
| Extended ZRO-USD | +0.0976% | 1h | 1.1794 | −0.062% | $788K | $589K | 10x | as long as short |
| Injective ZRO/USDC PERP | +0.1363% | 1h | 1.1850 | +0.416% | $12K | $261K | 12x | as long as short |
KuCoin ZROUSDTM
Bitget ZROUSDT
BingX ZRO-USDT
Variational Omni ZRO
ApeX Omni ZROUSDT
Polymarket Perps ZRO-USD
Aevo ZRO-PERP
BloFin ZRO-USDT
Backpack ZRO_USDC_PERP
Nado ZRO-PERP
01 Exchange ZROUSD
GMX ZRO/USD [ETH-USDC]
Hyperliquid ZRO
Extended ZRO-USD
Injective ZRO/USDC PERP