ZK

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.1498%/8h= +164.0% APRnext payment +$1.87 per $10,000 · paid last 24h +0.559%

Price spread now: Kraken Futures against Lighter+0.204%7-day average +0.207% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$181as in the Price arb table

costs, in and out, $10k−$1811.808% of the position

What this pair did over the last

the charts below follow

Funding, last 7 days+1.495%+$149 on $10k

Price spread, last 4 days (all we have)−0.286%−$29 · spread now +0.204%, 7d avg +0.207%

Together, before fees+1.209%+ Points / potential airdropLighter: Season 3 · farm board+$121 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.207%, so right now this pair is about funding alone: +$45 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ZK	0.01178	0.0096	pay 0.0012% / 1h	1m 16s	$136K	$182K	8x
Short	Kraken Futures PF_ZKUSD	0.01180	0.1594	get 0.0199% / 1h	1m 16s	$194K	$39K	25x

Funding history

latest

Range statsloading…

Kraken Futures against Lighter. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

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

Position, each leg$Hold fordaysFee LighterbpFee Kraken FuturesbpOrdersPrice spread, now +0.204%Rate

Slippage from Lighter: live order book, 44 min ago; Kraken Futures: live order book, 61 min ago.

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, 44 min ago	7.66 bp	28.3 bp −$28	74.1 bp −$741	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 61 min ago	42.99 bp	58.0 bp −$58	243.5 bp −$2,435	doesn't fit	doesn't fit

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	+0.0001%	4h	0.01175	−0.255%	$1.0M	$2.3M	20x	as long as short
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	−0.679%	$2K	$31K	5.5x	as long as short
BloFin ZK-USDT	+0.0042%	4h	0.01176	−0.187%	$218K	$20K	75x	as long as short
Lighter ZKlong	+0.0096%	1h	0.01178	long leg	$136K	$182K	8x
Hyperliquid ZK	+0.0100%	1h	0.01178	−0.017%	$586K	$221K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01176	−0.165%	$31K	$21K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01176	−0.170%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01176	−0.177%	$4.9M	$8.6M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01176	−0.170%	$5.1M	$2.5M	25x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01176	−0.170%	$330K	$239K	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	0.01175	−0.255%	$977K	$1.3M	50x	as long as short
Bitget ZKUSDT	+0.0100%	4h	0.01175	−0.255%	$1.5M	$859K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01175	−0.229%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01177	−0.079%	$57K	$15K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01177	−0.118%	$156K	$2.4M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01175	−0.255%	$8K	$620K	50x	as long as short
Kraken Futures PF_ZKUSDshort	+0.1594%	1h	0.01180	+0.204%	$194K	$39K	25x