Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h +0.025%
Price spread now: Lighter against Backpack+0.084%7-day average −0.322% · you sell dearer than you buy
Net, funding: paid 7d − costs+$44as in the Funding arb table
Net, price: spread back to 7d avg − costs+$28as in the Price arb table
costs, in and out, $10k−$130.126% of the position
Funding, last 7 days+0.569%+$57 on $10k
+Price spread, last 7 days+0.876%+$88 · spread now +0.084%, 7d avg −0.322%
=Together, before fees+1.445%+ Points / potential airdropLighter: Season 3 · farm board+$144 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: Lighter is 0.406% dearer against Backpack than usual: you sell high and buy low, +$41 on $10k if it goes back to its 7-day average of −0.322%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack ZEC_USDC_PERP | 1,454.3 | 0.0100 | pay 0.0013% / 1h | 40m 12s | $2.3M | $4.1M | 15x |
| Short | Lighter ZEC | 1,455.5 | 0.0096 | get 0.0012% / 1h | 40m 12s | $18.7M | $54.0M | 20x |
Backpack ZEC_USDC_PERP
Lighter ZECFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Backpack. 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
- −$0.84
- Price spread: +0.084% → −0.322%
- $40.61
- Slippage, 4 orders
- −$2.56
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- $27.21
- Costs to cover
- 0.126%
- Break-even
- from the start
Slippage from Backpack: live order book, 4 min ago; Lighter: live order book, 4 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 Backpack live order book, 4 min ago | 0.03 bp | 5.6 bp −$6 | 12.1 bp −$121 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 4 min ago | 0.07 bp | 1.1 bp −$1 | 2.2 bp −$22 | 11.2 bp −$1,124 | 70.5 bp −$35.3K |
ZEC on 51 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 ZEC/USDC PERP | −0.3476% | 1h | 1,438.1 | −1.112% | $33K | $275K | 12x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,451.8 | −0.175% | $6K | $2K | 10x | as long as short |
| Kraken Futures PF_ZECUSD | −0.0071% | 1h | 1,454.2 | −0.004% | $17.7M | $44.3M | 25x | as long as short |
| BloFin ZEC-USDT | −0.0066% | 8h | 1,451.4 | −0.202% | $29.0M | $74.8M | 75x | as long as short |
| Variational Omni ZEC | −0.0017% | 8h | 1,451.4 | −0.199% | $45.5M | $32.1M | — | as long as short |
| Bybit ZECUSDT | −0.0005% | 8h | 1,452.4 | −0.128% | $268.6M | $674.0M | 75x | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,451.8 | −0.171% | $409K | $106K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,453.6 | −0.050% | $844K | $5.5M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,454 | −0.021% | $83K | $401K | 10x | as long as short |
| Deribit ZEC_USDC-PERPETUAL | 0.0000% | 1h | 1,455.1 | +0.053% | $571K | $1.3M | 25x | as long as short |
Injective ZEC/USDC PERP
Hotstuff ZEC-PERP
Kraken Futures PF_ZECUSD
BloFin ZEC-USDT
Variational Omni ZEC
Bybit ZECUSDT
dYdX ZEC-USD
Kalshi KXZECPERP
Perpl ZEC
Deribit ZEC_USDC-PERPETUALShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,454.5 | +0.013% | $5.1M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0012% | 8h | 1,454.4 | +0.008% | $292K | $1.5M | 20x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0034% / S +0.0068% | 1h | 1,454.5 | +0.016% | $545K | — | 100x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0049% | 8h | 1,453.3 | −0.071% | $172.1M | $1.35B | 50x | as long as short |
| Ondo Perps ZEC-USD.P | +0.0059% | 1h | 1,449.7 | −0.316% | $394K | $516K | 5x | as long as short |
| 01 Exchange ZECUSD | +0.0064% | 1h | 1,453.2 | −0.073% | $8K | $8K | 5x | as long as short |
| Gate ZEC_USDT | +0.0064% | 8h | 1,453.4 | −0.063% | $49.1M | $186.4M | 75x | as long as short |
| Aster ZECUSDT | +0.0066% | 8h | 1,454.2 | −0.009% | $15.3M | $34.7M | 75x | as long as short |
| Katana Perps ZEC-USD | +0.0095% | 8h | 1,454.7 | +0.029% | $17K | $867K | 10x | as long as short |
| Lighter ZECshort | +0.0096% | 1h | 1,455.5 | +0.084% | $18.7M | $54.0M | 20x | |
| Popdex ZECUSDT | +0.0096% | 1h | 1,454.8 | +0.035% | $178K | $2.0M | 50x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,453.2 | −0.076% | $60K | $37K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,454.1 | −0.011% | $3.0M | $6.7M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,454.2 | −0.008% | $752.7M | $496.1M | 10x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,452.9 | −0.092% | $1.6M | $3.1M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,454.5 | +0.017% | $660.5M | $2.53B | 75x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,452.5 | −0.123% | $895K | $33K | 10x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,453.7 | −0.040% | $220.4M | $886.1M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,454.1 | −0.014% | $103.8M | $56.8M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,453.4 | −0.061% | $161.9M | $313.2M | 75x | as long as short |
| BingX ZEC-USDC | +0.0100% | 8h | 1,452.6 | −0.114% | — | $6.8M | — | as long as short |
| Backpack ZEC_USDC_PERPlong | +0.0100% | 1h | 1,454.3 | long leg | $2.3M | $4.1M | 15x | |
| edgeX ZECUSDC | +0.0100% | 4h | 1,451.7 | −0.179% | $487K | $9.8M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,453 | −0.087% | $3.0M | $501K | 10x | as long as short |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,451.9 | −0.166% | $706K | $606K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,452 | −0.156% | $109K | $4.8M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,454.1 | −0.013% | $298K | $2.0M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,454 | −0.020% | $126K | $161K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,453.1 | −0.085% | $442K | $493K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,457.2 | +0.200% | $3K | $1.3M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,454.1 | −0.010% | $220K | $4.7M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,454.1 | −0.011% | $2.4M | $24.8M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,453.9 | −0.027% | $3.7M | $5.4M | 50x | as long as short |
| Phoenix ZEC | +0.0103% | 1h | 1,452.9 | −0.098% | $4.6M | $1.6M | 10x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,454 | −0.017% | $3.3M | $7.0M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,454.4 | +0.006% | $36K | $362K | 20x | as long as short |
| RISEx ZEC/USDC | +0.0219% | 1h | 1,453.5 | −0.056% | $864K | $2.5M | 10x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0440% | 1h | 1,455.9 | +0.111% | $3.7M | $11.5M | 50x | as long as short |
| Aftermath Perps ZECUSD | +0.0448% | 1h | 1,453.5 | −0.055% | $39K | $32K | 10x | as long as short |
| Arcus ZEC-USD | +0.0518% | 1h | 1,454.9 | +0.042% | $755K | $7.9M | 10x | as long as short |
| Lighter RH ZEC | +0.0736% | 1h | 1,456.5 | +0.149% | $1.9M | $8.4M | 10x | as long as short |
gTrade (Gains Network) ZEC/USD
Orderly PERP_ZEC_USDC
GMX ZEC/USD [WBTC.b-USDC]
OKX ZEC-USDT-SWAP
Ondo Perps ZEC-USD.P
01 Exchange ZECUSD
Gate ZEC_USDT
Aster ZECUSDT
Katana Perps ZEC-USD
Popdex ZECUSDT
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Hyperliquid ZEC
Pacifica ZEC
Binance ZECUSDT
Bulk ZEC-USD
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDC
edgeX ZECUSDC
GRVT ZEC_USDT_Perp
ApeX Omni ZECUSDT
StandX ZEC-USD
Polymarket Perps ZEC-USD
Bullet ZEC-USD
Derive ZEC-PERP
SunX ZEC-USDT
SoDEX ZEC-USD
HTX ZEC-USDT
Phemex ZECUSDT
Phoenix ZEC
Extended ZEC-USD
Aevo ZEC-PERP
RISEx ZEC/USDC
Coinbase International ZEC-PERP-INTX
Aftermath Perps ZECUSD
Arcus ZEC-USD
Lighter RH ZEC