Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0156%/8h= +17.1% APRpaid last 24h +0.033%

Price spread now: Lighter against Binance+0.047%7-day average +0.070% · you sell dearer than you buy

Net, funding: paid 7d − costs+$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$130.132% of the position

Long on Binance Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.445%+$44 on $10k

Price spread, last 7 days+0.012%+$1 · spread now +0.047%, 7d avg +0.070%

Together, before fees+0.457%+ Points / potential airdropLighter: Season 3 · farm board+$46 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.023% cheaper against Binance than usual: you would sell low and buy high (spread +0.047% now, against its 7-day average of +0.070%). If the spread goes back, that is −$2 on $10k: about 12 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ZECUSDT	1,474.5	0.0100	pay 0.0100% / 8h	6h 28m	$681.1M	$2.33B	75x
Short	Lighter ZEC	1,475.2	0.0256	get 0.0032% / 1h	28m 51s	$19.2M	$48.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Binance. 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 BinancebpFee LighterbpOrdersPrice spread, now +0.047%Rate

Funding earned: $32.76
Price spread: +0.047% → +0.070%: −$2.26
Slippage, 4 orders: −$3.16
Fee Binance: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: $17.34
Costs to cover: 0.132%
Break-even: 3.3 days

Slippage from Binance: live order book, 15 min ago; Lighter: live order book, 5 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 Binance live order book, 15 min ago	0.03 bp	5.0 bp −$5	7.9 bp −$79	14.6 bp −$1,457	16.2 bp −$8,121
Sell Lighter live order book, 5 min ago	1.04 bp	1.8 bp −$2	2.8 bp −$28	10.5 bp −$1,048	64.8 bp −$32.4K

ZEC on 50 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	−0.3678%	1h	1,477.1	+0.175%	$34K	$274K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,478.6	+0.274%	$6K	$1K	10x	as long as short
Ondo Perps ZEC-USD.P	−0.0012%	1h	1,471.7	−0.193%	$400K	$517K	5x	as long as short
Kraken Futures PF_ZECUSD	−0.0002%	1h	1,474	−0.039%	$18.1M	$43.6M	25x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,477.8	+0.220%	$416K	$55K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,476.9	+0.160%	$977K	$5.0M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,476	+0.098%	$84K	$254K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,474.1	−0.027%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0028%	8h	1,474	−0.036%	$294K	$1.1M	20x	as long as short
Variational Omni ZEC	+0.0040%	8h	1,476.4	+0.125%	$48.0M	$33.0M	—	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX ZEC/USD [WBTC.b-USDC]	L +0.0055% / S −0.0009%	1h	1,474.3	−0.014%	$386K	—	100x	as long as short
01 Exchange ZECUSD	+0.0064%	1h	1,476.6	+0.137%	$8K	$9K	5x	as long as short
Phoenix ZEC	+0.0070%	1h	1,478.2	+0.250%	$4.7M	$1.5M	10x	as long as short
OKX ZEC-USDT-SWAP	+0.0095%	8h	1,474.6	+0.001%	$181.1M	$1.28B	50x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,476.3	+0.119%	$173K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,476.2	+0.115%	$16K	$840K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,477.2	+0.180%	$61K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,476.6	+0.140%	$2.6M	$6.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,474.8	+0.018%	$767.5M	$444.8M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,474.3	−0.018%	$14.9M	$30.9M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,477.3	+0.184%	$1.7M	$2.7M	10x	as long as short
Binance ZECUSDTlong	+0.0100%	8h	1,474.5	long leg	$681.1M	$2.33B	75x
Bybit ZECUSDT	+0.0100%	8h	1,474.2	−0.023%	$271.9M	$620.3M	75x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,470.5	−0.275%	$893K	$19K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,474.5	−0.001%	$50.2M	$175.6M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,475	+0.028%	$216.2M	$799.2M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,474	−0.035%	$103.7M	$56.4M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,474.8	+0.018%	$163.8M	$284.4M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,474.7	+0.014%	—	$6.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,476.8	+0.150%	$575K	$9.1M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,473	−0.104%	$3.0M	$443K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,476.9	+0.157%	$429K	$907K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,478	+0.237%	$71K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,476	+0.099%	$340K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,474.4	−0.007%	$128K	$159K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,472.6	−0.130%	$458K	$510K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,478.3	+0.256%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,474	−0.035%	$243K	$3.8M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,475	+0.031%	$2.5M	$19.0M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,474.1	−0.032%	$3.9M	$5.4M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,474.8	+0.021%	$3.2M	$7.1M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,474.1	−0.030%	$48K	$162K	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0136%	1h	1,474.8	+0.016%	$614K	$1.3M	25x	as long as short
Arcus ZEC-USD	+0.0254%	1h	1,478	+0.233%	$679K	$8.7M	10x	as long as short
Lighter ZECshort	+0.0256%	1h	1,475.2	+0.047%	$19.2M	$48.1M	20x
Lighter RH ZEC	+0.0304%	1h	1,475.3	+0.054%	$2.1M	$7.1M	10x	as long as short
RISEx ZEC/USDC	+0.0374%	1h	1,477.2	+0.182%	$869K	$1.0M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0472%	1h	1,475.9	+0.095%	$3.6M	$9.5M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0512%	1h	1,474	−0.036%	$2.5M	$3.9M	15x	as long as short
Aftermath Perps ZECUSD	+0.0725%	1h	1,475	+0.028%	$44K	$46K	10x	as long as short