Funding arb · Price arb /

ZK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.003%

Price spread now: Aster against Lighter−0.011%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Aster

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · Aster: Stage 5 · farm boardneeds both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ZK	0.01189	0.0096	pay 0.0012% / 1h	5m 35s	$127K	$201K	8x
Short	Aster ZKUSDT	0.01188	0.0100	get 0.0050% / 4h	1h 05m	$32K	$22K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Lighter. 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 LighterbpFee AsterbpOrdersPrice spread, now −0.011%Rate

Funding earned: $0.84
Price spread: −0.011% → 0.000%: −$1.11
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: −$8.27
Costs to cover: 0.080%
Break-even: 75.9 days

Slippage unknown: Lighter: live order book, 19 min ago; Aster: no order-book sample. Net counts fees only.

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, 19 min ago	7.94 bp	22.4 bp −$22	76.0 bp −$760	doesn't fit	doesn't fit
Sell Aster no order-book sample	—	—	—	—	—

Aster: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	−1.565%	$2K	$31K	5.5x	as long as short
Lighter ZKlong	+0.0096%	1h	0.01189	long leg	$127K	$201K	8x
Hyperliquid ZK	+0.0100%	1h	0.01188	−0.034%	$589K	$170K	5x	as long as short
Aster ZKUSDTshort	+0.0100%	4h	0.01188	−0.011%	$32K	$22K	10x
Pacifica ZK	+0.0100%	1h	0.01188	−0.076%	$29K	$3K	5x	as long as short
Binance ZKUSDT	+0.0100%	4h	0.01187	−0.134%	$4.9M	$8.0M	75x	as long as short
Bybit ZKUSDT	+0.0100%	4h	0.01187	−0.177%	$5.1M	$2.4M	25x	as long as short
OKX ZK-USDT-SWAP	+0.0100%	4h	0.01186	−0.219%	$1.0M	$2.1M	20x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01188	−0.050%	$303K	$264K	50x	as long as short
KuCoin ZKUSDTM	+0.0100%	4h	0.01186	−0.219%	$970K	$1.6M	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	0.01187	−0.135%	$1.5M	$874K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01187	−0.118%	—	$6.7M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01187	−0.102%	$57K	$13K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01188	−0.050%	$164K	$2.2M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01189	+0.034%	$8K	$628K	50x	as long as short
BloFin ZK-USDT	+0.0118%	4h	0.01189	0.000%	$215K	$19K	75x	as long as short
Kraken Futures PF_ZKUSD	+0.1627%	1h	0.01190	+0.139%	$208K	$46K	25x	as long as short