Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0332%/8h= +36.3% APRpaid last 24h +0.097%

Price spread now: Lighter RH against BloFin+0.300%61s7-day average +0.081% · you sell dearer than you buy

Net, funding: paid 7d − costs+$32as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$170.171% of the position

Long on BloFin Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.490%+$49 on $10k

Price spread, last 4 days (all we have)−0.482%−$48 · spread now +0.300%, 7d avg +0.081%

Together, before fees+0.008%+ Points / potential airdropLighter RH: Points live · farm board+$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Lighter RH is 0.219% dearer against BloFin than usual: you sell high and buy low: +$22 more if the spread goes back to its 7-day average of +0.081%. The two prices were read 61 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ZEC-USDT	1,511	−0.0140	get 0.0140% / 8h	2h 14m	$30.2M	$74.3M	75x
Short	Lighter RH ZEC	1,515.5	0.0192	get 0.0024% / 1h	14m 06s	$2.1M	$7.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against BloFin. 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 BloFinbpFee Lighter RHbpOrdersPrice spread, now +0.300%Rate

Funding earned: $69.7
Price spread: +0.300% → +0.081%: $21.91
Slippage, 4 orders: −$5.08
Fee BloFin: 6 bp × 2 orders: −$12
Fee Lighter RH: 0 bp × 2 orders: $0
Net: $74.54
Costs to cover: 0.171%
Break-even: from the start

Slippage from BloFin: live order book, 5 min ago; Lighter RH: 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 BloFin live order book, 5 min ago	0.20 bp	7.2 bp −$7	12.8 bp −$128	22.2 bp −$2,217	doesn't fit
Sell Lighter RH live order book, 4 min ago	0.89 bp	2.6 bp −$3	7.3 bp −$73	doesn't fit	doesn't fit

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	−0.3243%	1h	1,488.7	−1.476%	$34K	$273K	12x	as long as short
BloFin ZEC-USDTlong	−0.0140%	8h	1,511	long leg	$30.2M	$74.3M	75x
Hotstuff ZEC-PERP	−0.0080%	1h	1,511.6	+0.042%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,513.9	+0.193%	$421K	$36K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,516	+0.331%	$1.7M	$4.6M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,510	−0.064%	$86K	$239K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0007%	1h	1,511.3	+0.019%	$5.4M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0066%	8h	1,511.9	+0.060%	$316K	$1.0M	20x	as long as short
01 Exchange ZECUSD	+0.0080%	1h	1,513.8	+0.187%	$8K	$7K	5x	as long as short
Phoenix ZEC	+0.0092%	1h	1,507.5	−0.232%	$4.8M	$1.3M	10x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex ZECUSDT	+0.0096%	1h	1,511	+0.003%	$146K	$1.7M	50x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,510.3	−0.042%	$2.9M	$6.5M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,512.5	+0.102%	$790.5M	$435.1M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,513.1	+0.144%	$14.7M	$29.2M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,514.3	+0.221%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,513	+0.133%	$701.9M	$2.25B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,511.9	+0.062%	$277.5M	$617.7M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,511.7	+0.050%	$182.8M	$1.30B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,520.5	+0.631%	$411K	$494K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,479.3	−2.097%	$894K	$15K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,511.9	+0.060%	$54.5M	$179.2M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,512.2	+0.079%	$227.3M	$778.0M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,512.3	+0.090%	$103.9M	$55.2M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,511.1	+0.006%	$163.9M	$281.6M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,511.3	+0.022%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,519.3	+0.551%	$49.5M	$32.8M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,510.2	−0.051%	$577K	$8.7M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,505.9	−0.333%	$3.1M	$462K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,513	+0.136%	$419K	$928K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,511.6	+0.044%	$57K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,510.5	−0.030%	$369K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,511.2	+0.014%	$166K	$184K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,511.2	+0.017%	$461K	$506K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,515.3	+0.285%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,513.5	+0.167%	$250K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,509.9	−0.071%	$2.6M	$19.5M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,513.5	+0.167%	$4.0M	$5.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,514.5	+0.232%	$62K	$43K	10x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,512.1	+0.073%	$14K	$847K	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,512.8	+0.122%	$2.8M	$7.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,512.5	+0.100%	$46K	$150K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0104% / S −0.0076%	1h	1,510.9	−0.002%	$406K	—	100x	as long as short
Kraken Futures PF_ZECUSD	+0.0142%	1h	1,514.3	+0.218%	$18.5M	$46.0M	25x	as long as short
RISEx ZEC/USDC	+0.0154%	1h	1,513.4	+0.161%	$945K	$1.1M	10x	as long as short
Lighter RH ZECshort	+0.0192%	1h	1,515.5	+0.300%	$2.1M	$7.3M	10x
Deribit ZEC_USDC-PERPETUAL	+0.0214%	1h	1,512.9	+0.128%	$717K	$1.4M	25x	as long as short
Lighter ZEC	+0.0232%	1h	1,515.6	+0.307%	$19.8M	$45.4M	20x	as long as short
Backpack ZEC_USDC_PERP	+0.0444%	1h	1,512.3	+0.089%	$2.4M	$3.8M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0496%	1h	1,515.1	+0.275%	$3.7M	$9.9M	50x	as long as short
Arcus ZEC-USD	+0.0508%	1h	1,513.5	+0.170%	$607K	$8.4M	10x	as long as short
Aftermath Perps ZECUSD	+0.0539%	1h	1,503.1	−0.519%	$51K	$60K	10x	as long as short