Funding you earn now, next payment 01:00 UTC+0.1094%/8h= +119.7% APRnext payment +$1.37 per $10,000 · paid last 24h +0.079%
Price spread now: Injective against Lighter+0.132%96s7-day average −0.182% · you sell dearer than you buy
Net, funding: paid 7d − costs−$162as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$1041.043% of the position
Funding, last 7 days−0.580%−$58 on $10k
+Price spread, last 3 days (all we have)−0.930%−$93 · spread now +0.132%, 7d avg −0.182%
=Together, before fees−1.510%+ Points / potential airdropLighter: Season 3 · farm board−$151 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$33 a day on $10k at the current rate, and Injective is 0.314% dearer against Lighter than usual: you sell high and buy low: +$31 more if the spread goes back to its 7-day average of −0.182%. Mind the row above: over the last 7 days funding on this pair cost −0.580%, so the current rate has only just turned in your favour. The two prices were read 96 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.580% in total (about -30.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.37 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 | Lighter ZRO | 1.1764 | 0.0096 | pay 0.0012% / 1h | 39m 25s | $4.4M | $1.5M | 5x |
| Short | Injective ZRO/USDC PERP | 1.1780 | 0.1190 | get 0.0149% / 1h | 39m 25s | $12K | $260K | 12x |
Lighter ZRO
Injective ZRO/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- $229.65
- Price spread: +0.132% → −0.182%
- $31.4
- Slippage, 4 orders
- −$104.33
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $156.7
- Costs to cover
- 1.043%
- Break-even
- 2.2 days
Slippage from Lighter: live order book, 3 min ago; Injective: live order book, 35 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 | 7.99 bp | 16.8 bp −$17 | 82.8 bp −$828 | doesn't fit | doesn't fit |
| Sell Injective live order book, 35 min ago | 34.04 bp | 44.6 bp −$45 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| 01 Exchange ZROUSD | −0.0128% | 1h | 1.1748 | −0.142% | $7K | $3K | 5x | as long as short |
| Orderly PERP_ZRO_USDC | +0.0012% | 4h | 1.1755 | −0.081% | $21K | $6K | 10x | as long as short |
| Gate ZRO_USDT | +0.0012% | 4h | 1.1740 | −0.208% | $1.3M | $1.5M | 75x | as long as short |
| Lighter ZROlong | +0.0096% | 1h | 1.1764 | long leg | $4.4M | $1.5M | 5x | |
| Hyperliquid ZRO | +0.0100% | 1h | 1.1762 | −0.021% | $37.2M | $5.8M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1763 | −0.013% | $157K | $149K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1757 | −0.067% | $136K | $170K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1753 | −0.098% | $22.1M | $30.3M | 75x | as long as short |
| Bybit ZROUSDT | +0.0100% | 4h | 1.1744 | −0.174% | $18.0M | $14.2M | 50x | as long as short |
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1755 | −0.081% | $3.2M | $8.0M | 20x | as long as short |
01 Exchange ZROUSD
Orderly PERP_ZRO_USDC
Gate ZRO_USDT
Hyperliquid ZRO
Aster ZROUSDT
Pacifica ZRO
Binance ZROUSDT
Bybit ZROUSDT
OKX ZRO-USDT-SWAPShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1753 | −0.098% | $19.1M | $2.7M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1747 | −0.149% | $2.4M | $1.9M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1747 | −0.149% | $2.7M | $2.4M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1755 | −0.081% | — | $14.7M | — | as long as short |
| Variational Omni ZRO | +0.0100% | 4h | 1.1752 | −0.109% | $2.3M | $869K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1760 | −0.038% | $37K | $688K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1761 | −0.030% | $91K | $830K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1750 | −0.123% | $21K | — | 3x | as long as short |
| BloFin ZRO-USDT | +0.0108% | 4h | 1.1744 | −0.174% | $1.1M | $256K | 75x | as long as short |
| dYdX ZRO-USD | +0.0188% | 1h | 1.1754 | −0.088% | $21K | $3K | 5x | as long as short |
| Nado ZRO-PERP | +0.0251% | 1h | 1.1756 | −0.074% | $1.3M | $129K | 5x | as long as short |
| Backpack ZRO_USDC_PERP | +0.0290% | 1h | 1.1765 | +0.004% | $99K | $205K | 20x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0291% / S −0.2341% | 1h | 1.1755 | −0.078% | $3K | — | 100x | as long as short |
| Kraken Futures PF_ZROUSD | +0.0302% | 1h | 1.1763 | −0.009% | $252K | $411K | 25x | as long as short |
| Injective ZRO/USDC PERPshort | +0.1190% | 1h | 1.1780 | +0.132% | $12K | $260K | 12x | |
| Extended ZRO-USD | +0.1344% | 1h | 1.1752 | −0.109% | $780K | $589K | 10x | as long as short |
MEXC ZRO_USDT
KuCoin ZROUSDTM
Bitget ZROUSDT
BingX ZRO-USDT
Variational Omni ZRO
ApeX Omni ZROUSDT
Polymarket Perps ZRO-USD
Aevo ZRO-PERP
BloFin ZRO-USDT
dYdX ZRO-USD
Nado ZRO-PERP
Backpack ZRO_USDC_PERP
GMX ZRO/USD [ETH-USDC]
Kraken Futures PF_ZROUSD
Extended ZRO-USD