Funding arb · Price arb /

ZK

all ZK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.008%

Price spread now: Binance against Lighter−0.151%7-day average −0.038% · you buy dearer than you sell

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$97as in the Price arb table

costs, in and out, $10k−$850.853% of the position

Long on Lighter Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.153%+$15 on $10k

Price spread, last 4 days (all we have)+0.139%+$14 · spread now −0.151%, 7d avg −0.038%

Together, before fees+0.292%+ Points / potential airdropLighter: Season 3 · farm board+$29 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: Binance is 0.114% cheaper against Lighter than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of −0.038%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ZK	0.01191	0.0096	pay 0.0012% / 1h	18m 16s	$137K	$180K	8x
Short	Binance ZKUSDT	0.01189	0.0100	get 0.0050% / 4h	18m 16s	$4.9M	$8.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.151%Rate

Funding earned: $0.84
Price spread: −0.151% → −0.038%: −$11.36
Slippage, 4 orders: −$75.28
Fee Lighter: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: −$95.8
Costs to cover: 0.853%
Break-even: 805.3 days

Slippage from Lighter: live order book, 21 min ago; Binance: live order book, 6 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, 21 min ago	9.28 bp	29.5 bp −$29	74.5 bp −$745	doesn't fit	doesn't fit
Sell Binance live order book, 6 min ago	1.26 bp	19.6 bp −$20	62.3 bp −$623	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	+0.0028%	4h	0.01189	−0.168%	$1.0M	$2.3M	20x	as long as short
Injective ZK/USDC PERP	+0.0033%	1h	0.01170	−1.747%	$2K	$31K	5.5x	as long as short
BloFin ZK-USDT	+0.0051%	4h	0.01192	+0.059%	$218K	$21K	75x	as long as short
Lighter ZKlong	+0.0096%	1h	0.01191	long leg	$137K	$180K	8x
Hyperliquid ZK	+0.0100%	1h	0.01191	+0.034%	$592K	$195K	5x	as long as short
Aster ZKUSDT	+0.0100%	4h	0.01189	−0.173%	$32K	$21K	10x	as long as short
Pacifica ZK	+0.0100%	1h	0.01190	−0.067%	$30K	$3K	5x	as long as short
Binance ZKUSDTshort	+0.0100%	4h	0.01189	−0.151%	$4.9M	$8.4M	75x
Bybit ZKUSDT	+0.0100%	4h	0.01188	−0.210%	$5.1M	$2.5M	25x	as long as short
Gate ZK_USDT	+0.0100%	8h	0.01189	−0.151%	$327K	$248K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ZKUSDTM	+0.0100%	4h	0.01188	−0.235%	$979K	$1.4M	50x	as long as short
Bitget ZKUSDT	+0.0100%	4h	0.01188	−0.235%	$1.5M	$856K	75x	as long as short
BingX ZK-USDT	+0.0100%	4h	0.01188	−0.244%	—	$6.6M	—	as long as short
Variational Omni ZK	+0.0100%	4h	0.01189	−0.132%	$58K	$15K	—	as long as short
GRVT ZK_USDT_Perp	+0.0100%	4h	0.01192	+0.102%	$159K	$2.4M	10x	as long as short
ApeX Omni ZKUSDT	+0.0100%	1h	0.01191	+0.017%	$8K	$617K	50x	as long as short
Kraken Futures PF_ZKUSD	+0.1917%	1h	0.01192	+0.100%	$196K	$38K	25x	as long as short