Funding you earn now, next payment 07:00 UTC−0.0418%/8h= −45.8% APRnext payment −$0.52 per $10,000 · paid last 24h +0.084%
Price spread now: Lighter against Kraken Futures+0.044%7-day average +0.080% · you sell dearer than you buy
Net, funding: paid 7d − costs−$90as in the Funding arb table
Net, price: spread back to 7d avg − costs−$111as in the Price arb table
costs, in and out, $10k−$1081.078% of the position
Funding, last 7 days+0.174%+$17 on $10k
+Price spread, last 4 days (all we have)+0.166%+$17 · spread now +0.044%, 7d avg +0.080%
=Together, before fees+0.340%+ Points / potential airdropLighter: Season 3 · farm board+$34 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Lighter is 0.036% 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 +0.080%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.174%, 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 0.174% in total (about 9.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.52 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 | 1.1700 | 0.0514 | pay 0.0064% / 1h | 42m 16s | $253K | $304K | 25x |
| Short | Lighter ZRO | 1.1706 | 0.0096 | get 0.0012% / 1h | 42m 16s | $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
- −$87.78
- Price spread: +0.044% → +0.080%
- −$3.59
- Slippage, 4 orders
- −$97.85
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$199.22
- Costs to cover
- 1.078%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, just now; Lighter: live order book, 5 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, just now | 31.62 bp | 37.4 bp −$37 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 5 min ago | 7.60 bp | 18.2 bp −$18 | 90.6 bp −$906 | 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 | −0.0024% | 1h | 1.1690 | −0.088% | $4K | $5K | 5x | as long as short |
| dYdX ZRO-USD | +0.0065% | 1h | 1.1698 | −0.021% | $21K | $5K | 5x | as long as short |
| BloFin ZRO-USDT | +0.0086% | 4h | 1.1706 | +0.047% | $1.0M | $202K | 75x | as long as short |
| Orderly PERP_ZRO_USDC | +0.0090% | 4h | 1.1685 | −0.132% | $20K | $4K | 10x | as long as short |
| Lighter ZROshort | +0.0096% | 1h | 1.1706 | +0.044% | $4.4M | $1.2M | 5x | |
| Hyperliquid ZRO | +0.0100% | 1h | 1.1687 | −0.115% | $37.0M | $5.5M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1696 | −0.041% | $158K | $151K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1687 | −0.114% | $138K | $174K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1683 | −0.151% | $21.8M | $29.3M | 75x | as long as short |
| Bybit ZROUSDT | +0.0100% | 4h | 1.1683 | −0.149% | $17.9M | $13.5M | 50x | as long as short |
01 Exchange ZROUSD
dYdX ZRO-USD
BloFin ZRO-USDT
Orderly PERP_ZRO_USDC
Hyperliquid ZRO
Aster ZROUSDT
Pacifica ZRO
Binance ZROUSDT
Bybit ZROUSDTShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1684 | −0.141% | $3.2M | $7.7M | 20x | as long as short |
| Gate ZRO_USDT | +0.0100% | 4h | 1.1670 | −0.260% | $1.3M | $1.4M | 75x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1684 | −0.141% | $19.2M | $2.7M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1690 | −0.089% | $2.4M | $2.0M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1691 | −0.081% | $2.7M | $2.5M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1682 | −0.158% | — | $16.6M | — | as long as short |
| Variational Omni ZRO | +0.0100% | 4h | 1.1666 | −0.290% | $2.3M | $812K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1710 | +0.082% | $39K | $671K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1690 | −0.089% | $99K | $819K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1681 | −0.162% | $21K | — | 3x | as long as short |
| Backpack ZRO_USDC_PERP | +0.0106% | 1h | 1.1687 | −0.115% | $95K | $220K | 20x | as long as short |
| Nado ZRO-PERP | +0.0209% | 1h | 1.1687 | −0.116% | $1.3M | $126K | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0292% / S −0.2341% | 1h | 1.1690 | −0.087% | $3K | — | 100x | as long as short |
| Kraken Futures PF_ZROUSDlong | +0.0514% | 1h | 1.1700 | long leg | $253K | $304K | 25x | |
| Extended ZRO-USD | +0.0712% | 1h | 1.1686 | −0.123% | $799K | $626K | 10x | as long as short |
| Injective ZRO/USDC PERP | +0.1317% | 1h | 1.1750 | +0.424% | $12K | $261K | 12x | as long as short |
OKX ZRO-USDT-SWAP
Gate ZRO_USDT
MEXC ZRO_USDT
KuCoin ZROUSDTM
Bitget ZROUSDT
BingX ZRO-USDT
Variational Omni ZRO
ApeX Omni ZROUSDT
Polymarket Perps ZRO-USD
Aevo ZRO-PERP
Backpack ZRO_USDC_PERP
Nado ZRO-PERP
GMX ZRO/USD [ETH-USDC]
Extended ZRO-USD
Injective ZRO/USDC PERP