Funding arb · Price arb /

ZK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.019%

Price spread now: Lighter against Gate+0.180%7-day average 0.000% · you sell dearer than you buy

Net, funding: paid 7d − costs−$118as in the Funding arb table

Net, price: spread back to 7d avg − costs−$81as in the Price arb table

costs, in and out, $10k−$990.993% of the position

Long on Gate Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.184%−$18 on $10k

Price spread, last 4 days (all we have)−0.119%−$12 · spread now +0.180%, 7d avg 0.000%

Together, before fees−0.303%+ Points / potential airdropLighter: Season 3 · farm board−$30 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.180% dearer against Gate than usual: you sell high and buy low, +$18 on $10k if it goes back to its 7-day average of 0.000%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ZK_USDT	0.01166	0.0100	pay 0.0100% / 8h	1h 15m	$319K	$247K	50x
Short	Lighter ZK	0.01168	0.0096	get 0.0012% / 1h	15m 52s	$127K	$165K	8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

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

latest

Price spreadloading…

Funding on every exchange

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

Profit calculator

Position, each leg$Hold fordaysFee GatebpFee LighterbpOrdersPrice spread, now +0.180%Rate

Funding earned: −$0.84
Price spread: +0.180% → 0.000%: $18.03
Slippage, 4 orders: −$84.31
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter: 0 bp × 2 orders: $0
Net: −$82.12
Costs to cover: 0.993%
Break-even: never at this rate

Slippage from Gate: live order book, 64 min ago; Lighter: live order book, 58 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 Gate live order book, 64 min ago	8.56 bp	28.0 bp −$28	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 58 min ago	9.86 bp	12.3 bp −$12	52.3 bp −$523	doesn't fit	doesn't fit

ZK on 17 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
OKX ZK-USDT-SWAP	−0.0014%	4h	0.01166	−0.043%	$942K	$2.3M	20x	as long as short
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	+0.343%	$2K	$31K	5.5x	as long as short
Lighter ZKshort	+0.0096%	1h	0.01168	+0.180%	$127K	$165K	8x
Hyperliquid ZK	+0.0100%	1h	0.01167	+0.111%	$592K	$238K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01167	+0.080%	$36K	$19K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01165	−0.051%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01166	−0.024%	$4.7M	$9.8M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01166	−0.026%	$5.0M	$2.6M	25x	as long as short
Gate ZK_USDTlong	+0.0100%	8h	0.01166	long leg	$319K	$247K	50x
KuCoin ZKUSDTM	+0.0100%	4h	0.01166	0.000%	$984K	$998K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ZKUSDT	+0.0100%	4h	0.01167	+0.086%	$1.5M	$863K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01166	0.000%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01165	−0.094%	$57K	$15K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01166	0.000%	$160K	$2.8M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01166	0.000%	$8K	$622K	50x	as long as short
BloFin ZK-USDT	+0.0124%	4h	0.01165	−0.086%	$211K	$24K	75x	as long as short
Kraken Futures PF_ZKUSD	+0.1295%	1h	0.01168	+0.192%	$193K	$43K	25x	as long as short