Funding you earn now, next payment 05:00 UTC+0.0349%/8h= +38.2% APRnext payment +$0.44 per $10,000 · paid last 24h −0.106%
Price spread now: Kraken Futures against Lighter−0.193%7-day average −0.077% · you buy dearer than you sell
Net, funding: paid 7d − costs−$163as in the Funding arb table
Net, price: spread back to 7d avg − costs−$156as in the Price arb table
costs, in and out, $10k−$1451.447% of the position
Funding, last 7 days−0.185%−$19 on $10k
+Price spread, last 4 days (all we have)−0.200%−$20 · spread now −0.193%, 7d avg −0.077%
=Together, before fees−0.385%+ Points / potential airdropLighter: Season 3 · farm board−$39 on $10k · with fees, hour by hour
Funding pays, the price is against you. Kraken Futures is 0.116% cheaper against Lighter than usual: you would sell low and buy high (spread −0.193% now, against its 7-day average of −0.077%). If the spread goes back, that is −$12 on $10k: about 27 hours of funding at the current rate (+$10 a day). Mind the row above: over the last 7 days funding on this pair cost −0.185%, so the current rate has only just turned in your favour.
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 +$0.44 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 | 1.1780 | 0.0112 | pay 0.0014% / 1h | 16m 22s | $4.4M | $1.2M | 5x |
| Short | Kraken Futures PF_ZROUSD | 1.1757 | 0.0461 | get 0.0058% / 1h | 16m 22s | $257K | $355K | 25x |
Lighter ZRO
Kraken Futures PF_ZROUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures 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
- $73.29
- Price spread: −0.193% → −0.077%
- −$11.58
- Slippage, 4 orders
- −$134.68
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$82.97
- Costs to cover
- 1.447%
- Break-even
- 14.9 days
Slippage from Lighter: live order book, 6 min ago; Kraken Futures: live order book, 36 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, 6 min ago | 10.84 bp | 10.9 bp −$11 | 77.0 bp −$770 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 36 min ago | 31.31 bp | 36.3 bp −$36 | 132.5 bp −$1,325 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_ZRO_USDC | +0.0050% | 4h | 1.1744 | −0.303% | $21K | $5K | 10x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1757 | −0.193% | $159K | $150K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1756 | −0.201% | $136K | $178K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1742 | −0.323% | $22.1M | $29.6M | 75x | as long as short |
| Bybit ZROUSDT | +0.0100% | 4h | 1.1736 | −0.371% | $17.9M | $13.7M | 50x | as long as short |
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1743 | −0.312% | $3.2M | $7.9M | 20x | as long as short |
| Gate ZRO_USDT | +0.0100% | 4h | 1.1740 | −0.337% | $1.3M | $1.5M | 75x | as long as short |
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1752 | −0.235% | $19.3M | $2.7M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1748 | −0.269% | $2.4M | $2.0M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1748 | −0.269% | $2.7M | $2.5M | 75x | as long as short |
Orderly PERP_ZRO_USDC
Aster ZROUSDT
Pacifica ZRO
Binance ZROUSDT
Bybit ZROUSDT
OKX ZRO-USDT-SWAP
Gate ZRO_USDT
MEXC ZRO_USDT
KuCoin ZROUSDTM
Bitget ZROUSDTShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX ZRO-USDT | +0.0100% | 4h | 1.1744 | −0.303% | — | $16.5M | — | as long as short |
| Backpack ZRO_USDC_PERP | +0.0100% | 1h | 1.1781 | +0.011% | $98K | $221K | 20x | as long as short |
| Variational Omni ZRO | +0.0100% | 4h | 1.1745 | −0.291% | $2.3M | $809K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1770 | −0.082% | $39K | $676K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1753 | −0.227% | $100K | $845K | 5x | as long as short |
| dYdX ZRO-USD | +0.0103% | 1h | 1.1754 | −0.221% | $21K | $4K | 5x | as long as short |
| BloFin ZRO-USDT | +0.0104% | 4h | 1.1776 | −0.031% | $1.1M | $250K | 75x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1741 | −0.332% | $21K | — | 3x | as long as short |
| Lighter ZROlong | +0.0112% | 1h | 1.1780 | long leg | $4.4M | $1.2M | 5x | |
| Nado ZRO-PERP | +0.0211% | 1h | 1.1746 | −0.288% | $1.3M | $124K | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0293% / S −0.2341% | 1h | 1.1742 | −0.323% | $3K | — | 100x | as long as short |
| 01 Exchange ZROUSD | +0.0344% | 1h | 1.1761 | −0.160% | $7K | $3K | 5x | as long as short |
| Kraken Futures PF_ZROUSDshort | +0.0461% | 1h | 1.1757 | −0.193% | $257K | $355K | 25x | |
| Hyperliquid ZRO | +0.0585% | 1h | 1.1759 | −0.176% | $37.3M | $5.5M | 5x | as long as short |
| Extended ZRO-USD | +0.1064% | 1h | 1.1741 | −0.330% | $804K | $625K | 10x | as long as short |
| Injective ZRO/USDC PERP | +0.1363% | 1h | 1.1830 | +0.427% | $12K | $261K | 12x | as long as short |
BingX ZRO-USDT
Backpack ZRO_USDC_PERP
Variational Omni ZRO
ApeX Omni ZROUSDT
Polymarket Perps ZRO-USD
dYdX ZRO-USD
BloFin ZRO-USDT
Aevo ZRO-PERP
Nado ZRO-PERP
GMX ZRO/USD [ETH-USDC]
01 Exchange ZROUSD
Hyperliquid ZRO
Extended ZRO-USD
Injective ZRO/USDC PERP