Funding you earn now, next payment 04:00 UTC−0.1090%/8h= −119.3% APRnext payment −$1.36 per $10,000 · paid last 24h −0.113%
Price spread now: Lighter against Injective−0.392%7-day average +0.174% · you buy dearer than you sell
Net, funding: paid 7d − costs−$72as in the Funding arb table
Net, price: spread back to 7d avg − costs−$183as in the Price arb table
costs, in and out, $10k−$1261.260% of the position
Funding, last 7 days+0.535%+$54 on $10k
+Price spread, last 4 days (all we have)+1.488%+$149 · spread now −0.392%, 7d avg +0.174%
=Together, before fees+2.024%+ Points / potential airdropLighter: Season 3 · farm board+$202 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$33 a day on $10k at the current rate, and Lighter is 0.566% cheaper against Injective than usual: you would sell low and buy high (−$57 if the spread goes back to its 7-day average of +0.174%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.535%, 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 0.535% in total (about 27.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.36 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 | Injective ZRO/USDC PERP | 1.1790 | 0.1186 | pay 0.0148% / 1h | 15m 03s | $12K | $260K | 12x |
| Short | Lighter ZRO | 1.1744 | 0.0096 | get 0.0012% / 1h | 15m 03s | $4.4M | $1.2M | 5x |
Injective ZRO/USDC PERP
Lighter ZROFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Injective. 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
- −$228.89
- Price spread: −0.392% → +0.174%
- −$56.57
- Slippage, 4 orders
- −$125.95
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$411.43
- Costs to cover
- 1.260%
- Break-even
- never at this rate
Slippage from Injective: live order book, 44 min ago; Lighter: live order book, 3 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 Injective live order book, 44 min ago | 34.28 bp | 34.3 bp −$34 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 3 min ago | 9.95 bp | 25.3 bp −$25 | 106.5 bp −$1,065 | 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 | +0.0026% | 1h | 1.1737 | −0.448% | $21K | $4K | 5x | as long as short |
| Orderly PERP_ZRO_USDC | +0.0038% | 4h | 1.1728 | −0.526% | $21K | $5K | 10x | as long as short |
| BloFin ZRO-USDT | +0.0071% | 4h | 1.1727 | −0.534% | $1.1M | $249K | 75x | as long as short |
| Lighter ZROshort | +0.0096% | 1h | 1.1744 | −0.392% | $4.4M | $1.2M | 5x | |
| Aster ZROUSDT | +0.0100% | 4h | 1.1740 | −0.428% | $158K | $151K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1730 | −0.508% | $136K | $179K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1725 | −0.551% | $22.0M | $29.9M | 75x | as long as short |
| Bybit ZROUSDT | +0.0100% | 4h | 1.1722 | −0.577% | $18.0M | $13.9M | 50x | as long as short |
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1736 | −0.458% | $3.2M | $7.9M | 20x | as long as short |
| Gate ZRO_USDT | +0.0100% | 4h | 1.1720 | −0.594% | $1.3M | $1.5M | 75x | as long as short |
dYdX ZRO-USD
Orderly PERP_ZRO_USDC
BloFin ZRO-USDT
Aster ZROUSDT
Pacifica ZRO
Binance ZROUSDT
Bybit ZROUSDT
OKX ZRO-USDT-SWAP
Gate ZRO_USDTShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1726 | −0.543% | $19.2M | $2.7M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1716 | −0.628% | $2.4M | $2.0M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1727 | −0.534% | $2.7M | $2.6M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1726 | −0.543% | — | $16.5M | — | as long as short |
| Backpack ZRO_USDC_PERP | +0.0100% | 1h | 1.1726 | −0.543% | $98K | $218K | 20x | as long as short |
| Variational Omni ZRO | +0.0100% | 4h | 1.1715 | −0.637% | $2.3M | $810K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1730 | −0.509% | $39K | $671K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1737 | −0.450% | $100K | $851K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1726 | −0.540% | $21K | — | 3x | as long as short |
| 01 Exchange ZROUSD | +0.0112% | 1h | 1.1739 | −0.431% | $7K | $3K | 5x | as long as short |
| Nado ZRO-PERP | +0.0193% | 1h | 1.1728 | −0.523% | $1.3M | $124K | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0293% / S −0.2341% | 1h | 1.1731 | −0.504% | $3K | — | 100x | as long as short |
| Hyperliquid ZRO | +0.0306% | 1h | 1.1739 | −0.433% | $37.2M | $5.5M | 5x | as long as short |
| Kraken Futures PF_ZROUSD | +0.0379% | 1h | 1.1739 | −0.429% | $258K | $398K | 25x | as long as short |
| Extended ZRO-USD | +0.1176% | 1h | 1.1723 | −0.573% | $784K | $589K | 10x | as long as short |
| Injective ZRO/USDC PERPlong | +0.1186% | 1h | 1.1790 | long leg | $12K | $260K | 12x |
MEXC ZRO_USDT
KuCoin ZROUSDTM
Bitget ZROUSDT
BingX ZRO-USDT
Backpack ZRO_USDC_PERP
Variational Omni ZRO
ApeX Omni ZROUSDT
Polymarket Perps ZRO-USD
Aevo ZRO-PERP
01 Exchange ZROUSD
Nado ZRO-PERP
GMX ZRO/USD [ETH-USDC]
Hyperliquid ZRO
Kraken Futures PF_ZROUSD
Extended ZRO-USD