ZK Funding Rate — live across 12 venues

Compared across 12 supported venues · net of estimated fees · updated every few minutes

Live annualized ZK perpetual funding across all 12 venues Perpia tracks. Right now ZK funding is positive on 10 and negative on 2, ranging from +10.9% on BingX to -53.5% on Vest — a spread of 64.4%. The widest delta-neutral trade is long Vest / short Lighter at 60.5% net APR.

venues

paying positive

64.4%

funding spread

Best ZK spread now

60.5%

net APR after fees

Long Vest→Short Lighter

size depends on live venue depth — see the real cap in the scanner

ZK funding trend & liquidity

168h of history

64.0%

current gross APR

65.4%

24h average

45.7%

7-day average

$66K

pair OI · lower leg

$183K

24h volume · lower leg

Averages are historical funding over the window shown. A current rate near the 7-day average may indicate the spread has persisted; a rate far above it is usually a short-lived spike. OI and volume are the smaller (binding) leg of the best pair — the ceiling on tradeable size.

ZK funding rate history

30d · 6h buckets · 12 venues

137%0-104.9%

6 Aug5 Sep

ZK — average across 12 venuesAsterHyperliquidPacificaBinance

Annualized funding, averaged into 6-hour buckets. The bold line is the mean across venues quoting in that bucket; the faint lines are individual venues. Mean over the window: +3.5%. A break in a line means no data was recorded for that stretch, not a zero rate.

ZK funding rate by venue

19 pairs scanned

Venue	Funding APR	Interval
BingX ↗	+10.9%	4h
Binance ↗	+10.9%	4h
Bybit ↗	+10.9%	4h
Variational ↗	+10.9%	4h
Gate.io ↗	+10.9%	8h
Bitget ↗	+10.9%	4h
Hyperliquid ↗	+10.9%	1h
Pacifica ↗	+10.9%	1h
Lighter ↗	+10.5%	8h
OKX ↗	+9.5%	4h
KuCoin ↗	-2.4%	4h
Vest ↗	-53.5%	1h

Rates annualized; updated ~every few minutes from live venue data. Venue names link to that exchange's full funding table; ↗ opens the market on the exchange itself. Every spread between these two venues is on the Vest vs Lighter page.

ZK arbitrage — 30-day backtest

long Vest · short Lighter

51.5%

backtested APR

+$423

historical net P&L on $10,000

0.03%

max drawdown

$10,000$10,423

30 days agostarting capital $10,000today

Over the last 30 days, holding long Vest / short Lighter would have produced 51.5% APR — versus the 60.5% the live spread implies right now (equity $10,000 → $10,423). This is a backtest on historical funding, not a live result: funding drifts and decays, so backtested results rarely match the current headline rate — which is why size and holding window matter more than the top-line number.

Open full interactive backtest →

Loading ZK backtest…

ZK funding — FAQ

Is ZK funding positive right now?

ZK perpetual funding is positive on 10 of 12 venues Perpia tracks and negative on 2. The highest is +10.9% on BingX; the lowest is -53.5% on Vest.

What is the best ZK funding arbitrage right now?

Go long Vest and short Lighter for about 60.5% net APR after fees — the widest delta-neutral ZK spread Perpia currently sees.

Which exchange has the highest ZK funding rate?

BingX, at +10.9% annualized. Funding shifts continuously, so check the live table above before trading.

How ZK funding arbitrage works

Funding arbitrage combines opposing positions on two venues — long the one paying the most negative funding, short the one paying the most positive — to reduce directional exposure and capture the difference between their funding payments. Fees, slippage, basis divergence and liquidation risk can reduce the result. See the methodology for how it is measured and the guide for the full walkthrough.

Markets related to ZK

Markets also quoted on both Lighter and Vest — the same two exchanges you would already have funded for the ZK trade.

See every spread between them on the Lighter vs Vest page.

Open the live scanner →All funding rates Funding by exchange How we calculate this