We demonstrate that application of an oscillatory electric field to a liquid yields a long-range steady field, provided the ions present have unequal mobilities. The main physics is illustrated by a two-ion harmonic oscillator, yielding an asymmetric rectified field whose time average scales as the square of the applied field strength. Computations of the fully nonlinear electrokinetic model corroborate the two-ion model and further demonstrate that steady fields extend over large distances between two electrodes. Experimental measurements of the levitation height of micron-scale colloids versus applied frequency accord with the numerical predictions. The heretofore unsuspected existence of a long-range steady field helps explain several long-standing questions regarding the behavior of particles and electrically induced fluid flows in response to oscillatory potentials.