Funding you earn now, next payment 06:00 UTC+0.0604%/8h= +66.1% APRnext payment +$0.75 per $10,000 · paid last 24h −0.095%
Price spread now: Kraken Futures against Lighter−0.177%7-day average −0.080% · you buy dearer than you sell
Net, funding: paid 7d − costs−$142as in the Funding arb table
Net, price: spread back to 7d avg − costs−$134as in the Price arb table
costs, in and out, $10k−$1241.243% of the position
Funding, last 7 days−0.182%−$18 on $10k
+Price spread, last 4 days (all we have)−0.069%−$7 · spread now −0.177%, 7d avg −0.080%
=Together, before fees−0.250%+ Points / potential airdropLighter: Season 3 · farm board−$25 on $10k · with fees, hour by hour
Funding pays, the price is against you. Kraken Futures is 0.097% cheaper against Lighter than usual: you would sell low and buy high (spread −0.177% now, against its 7-day average of −0.080%). If the spread goes back, that is −$10 on $10k: about 13 hours of funding at the current rate (+$18 a day). Mind the row above: over the last 7 days funding on this pair cost −0.182%, 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 -0.182% in total (about -9.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.75 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 | 1.1774 | 0.0096 | pay 0.0012% / 1h | 5m 07s | $4.4M | $1.2M | 5x |
| Short | Kraken Futures PF_ZROUSD | 1.1753 | 0.0700 | get 0.0087% / 1h | 5m 07s | $255K | $333K | 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
- $126.82
- Price spread: −0.177% → −0.080%
- −$9.71
- Slippage, 4 orders
- −$114.29
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$7.18
- Costs to cover
- 1.243%
- Break-even
- 7.4 days
Slippage from Lighter: live order book, 3 min ago; Kraken Futures: live order book, 43 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, 3 min ago | 4.93 bp | 27.8 bp −$28 | 94.6 bp −$946 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 43 min ago | 27.04 bp | 39.6 bp −$40 | 187.2 bp −$1,872 | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX ZRO-USD | +0.0007% | 1h | 1.1748 | −0.218% | $21K | $5K | 5x | as long as short |
| Orderly PERP_ZRO_USDC | +0.0071% | 4h | 1.1754 | −0.166% | $21K | $4K | 10x | as long as short |
| Lighter ZROlong | +0.0096% | 1h | 1.1774 | long leg | $4.4M | $1.2M | 5x | |
| Hyperliquid ZRO | +0.0100% | 1h | 1.1768 | −0.048% | $37.3M | $5.5M | 5x | as long as short |
| Aster ZROUSDT | +0.0100% | 4h | 1.1754 | −0.167% | $159K | $151K | 10x | as long as short |
| Pacifica ZRO | +0.0100% | 1h | 1.1754 | −0.163% | $138K | $174K | 5x | as long as short |
| Binance ZROUSDT | +0.0100% | 4h | 1.1752 | −0.183% | $22.0M | $29.4M | 75x | as long as short |
| Bybit ZROUSDT | +0.0100% | 4h | 1.1748 | −0.217% | $18.0M | $13.6M | 50x | as long as short |
| OKX ZRO-USDT-SWAP | +0.0100% | 4h | 1.1753 | −0.175% | $3.2M | $7.8M | 20x | as long as short |
| Gate ZRO_USDT | +0.0100% | 4h | 1.1750 | −0.200% | $1.3M | $1.5M | 75x | as long as short |
dYdX ZRO-USD
Orderly PERP_ZRO_USDC
Hyperliquid ZRO
Aster ZROUSDT
Pacifica ZRO
Binance ZROUSDT
Bybit ZROUSDT
OKX ZRO-USDT-SWAP
Gate ZRO_USDTShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC ZRO_USDT | +0.0100% | 4h | 1.1743 | −0.260% | $19.3M | $2.7M | 125x | as long as short |
| KuCoin ZROUSDTM | +0.0100% | 4h | 1.1748 | −0.217% | $2.4M | $2.0M | 50x | as long as short |
| Bitget ZROUSDT | +0.0100% | 4h | 1.1750 | −0.200% | $2.7M | $2.5M | 75x | as long as short |
| BingX ZRO-USDT | +0.0100% | 4h | 1.1748 | −0.217% | — | $16.6M | — | as long as short |
| Backpack ZRO_USDC_PERP | +0.0100% | 1h | 1.1757 | −0.141% | $97K | $221K | 20x | as long as short |
| Variational Omni ZRO | +0.0100% | 4h | 1.1743 | −0.260% | $2.3M | $809K | — | as long as short |
| ApeX Omni ZROUSDT | +0.0100% | 1h | 1.1740 | −0.285% | $39K | $674K | 50x | as long as short |
| Polymarket Perps ZRO-USD | +0.0100% | 1h | 1.1752 | −0.183% | $99K | $821K | 5x | as long as short |
| Aevo ZRO-PERP | +0.0104% | 1h | 1.1744 | −0.251% | $21K | — | 3x | as long as short |
| BloFin ZRO-USDT | +0.0131% | 4h | 1.1750 | −0.200% | $1.0M | $254K | 75x | as long as short |
| 01 Exchange ZROUSD | +0.0136% | 1h | 1.1756 | −0.152% | $4K | $5K | 5x | as long as short |
| Nado ZRO-PERP | +0.0148% | 1h | 1.1756 | −0.147% | $1.3M | $126K | 5x | as long as short |
| GMX ZRO/USD [ETH-USDC] | L +0.0293% / S −0.2341% | 1h | 1.1755 | −0.158% | $3K | — | 100x | as long as short |
| Kraken Futures PF_ZROUSDshort | +0.0700% | 1h | 1.1753 | −0.177% | $255K | $333K | 25x | |
| Extended ZRO-USD | +0.0864% | 1h | 1.1744 | −0.255% | $803K | $625K | 10x | as long as short |
| Injective ZRO/USDC PERP | +0.1343% | 1h | 1.1790 | +0.139% | $12K | $261K | 12x | as long as short |
MEXC ZRO_USDT
KuCoin ZROUSDTM
Bitget ZROUSDT
BingX ZRO-USDT
Backpack ZRO_USDC_PERP
Variational Omni ZRO
ApeX Omni ZROUSDT
Polymarket Perps ZRO-USD
Aevo ZRO-PERP
BloFin ZRO-USDT
01 Exchange ZROUSD
Nado ZRO-PERP
GMX ZRO/USD [ETH-USDC]
Extended ZRO-USD
Injective ZRO/USDC PERP