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Funding arb · Price arb /

ZEC

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 00:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h +0.045%
Price spread now: Lighter against Bulk+0.156%53s7-day average +0.085% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$80.084% of the position
Long on BulkShort on Lighter
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.214%+$21 on $10k
Price spread, last 4 days (all we have)−0.145%−$15 · spread now +0.156%, 7d avg +0.085%
Together, before fees+0.069%+ Points / potential airdropLighter: Season 3 · farm board+$7 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 0.071% dearer against Bulk than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.085%. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBulk ZEC-USD1,469.80.0100pay 0.0013% / 1h28m 44s$894K$39K10x
ShortLighter ZEC1,472.10.0096get 0.0012% / 1h28m 44s$19.1M$52.4M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Lighter against Bulk. 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

Funding earned
−$0.84
Price spread: +0.156% → +0.085%
$7.1
Slippage, 4 orders
−$1.42
Fee Bulk: 3.5 bp × 2 orders
−$7
Fee Lighter: 0 bp × 2 orders
$0
Net
−$2.15
Costs to cover
0.084%
Break-even
never at this rate
Slippage from Bulk: live order book, 50 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
LegHalf-spread$10k$100k$1M$5M
Buy Bulk live order book, 50 min ago0.03 bp3.5 bp −$45.1 bp −$5110.2 bp −$1,02316.3 bp −$8,136
Sell Lighter live order book, 5 min ago0.21 bp0.2 bp $01.8 bp −$188.9 bp −$88561.4 bp −$30.7K

ZEC on 51 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective ZEC/USDC PERP−0.3089%1h1,472.5+0.183%$34K$275K12xas long as short
Ondo Perps ZEC-USD.P−0.0254%1h1,468.3−0.099%$399K$515K5xas long as short
Kraken Futures PF_ZECUSD−0.0225%1h1,470.6+0.057%$17.9M$44.3M25xas long as short
Bybit ZECUSDT−0.0111%8h1,469.4−0.023%$274.8M$654.5M75xas long as short
BloFin ZEC-USDT−0.0102%8h1,470.6+0.055%$29.6M$75.2M75xas long as short
Hotstuff ZEC-PERP−0.0080%1h1,471.1+0.088%$6K$2K10xas long as short
Variational Omni ZEC−0.0057%8h1,468.8−0.065%$46.8M$33.8M—as long as short
ApeX Omni ZECUSDT−0.0045%1h1,470.3+0.040%$431K$841K50xas long as short
dYdX ZEC-USD0.0000%1h1,471+0.087%$414K$104K5xas long as short
Kalshi KXZECPERP0.0000%8h1,472.1+0.159%$903K$5.6M2.2xas long as short
Show all 51 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Perpl ZEC0.0000%43m1,471+0.082%$84K$404K10xas long as short
gTrade (Gains Network) ZEC/USDL +0.0007% / S −0.0006%1h1,470.7+0.064%$5.2M—150xas long as short
Orderly PERP_ZEC_USDC+0.0012%8h1,470.6+0.055%$294K$1.4M20xas long as short
01 Exchange ZECUSD+0.0016%1h1,471.7+0.131%$8K$8K5xas long as short
Phoenix ZEC+0.0024%1h1,470.8+0.070%$4.6M$1.6M10xas long as short
OKX ZEC-USDT-SWAP+0.0038%8h1,470.1+0.021%$180.6M$1.34B50xas long as short
Gate ZEC_USDT+0.0046%8h1,470.2+0.027%$50.8M$186.4M75xas long as short
GMX ZEC/USD [WBTC.b-USDC]L +0.0055% / S −0.0010%1h1,470.5+0.054%$372K—100xas long as short
Lighter ZECshort+0.0096%1h1,472.1+0.156%$19.1M$52.4M20x
Popdex ZECUSDT+0.0096%1h1,471.3+0.105%$175K$1.9M50xas long as short
Katana Perps ZEC-USD+0.0097%8h1,470.2+0.032%$13K$836K10xas long as short
Paradex ZEC-USD-PERP+0.0100%8h1,470.8+0.070%$60K$39K10xas long as short
Nado ZEC-PERP+0.0100%1h1,471.2+0.101%$2.6M$6.8M10xas long as short
Hyperliquid ZEC+0.0100%1h1,471.1+0.092%$762.7M$474.4M10xas long as short
Aster ZECUSDT+0.0100%8h1,470.1+0.026%$15.0M$32.7M75xas long as short
Pacifica ZEC+0.0100%1h1,471.4+0.113%$1.7M$2.9M10xas long as short
Binance ZECUSDT+0.0100%8h1,470.4+0.043%$683.6M$2.46B75xas long as short
Arcus ZEC-USD+0.0100%1h1,472.7+0.204%$720K$8.3M10xas long as short
Bulk ZEC-USDlong+0.0100%1h1,469.8long leg$894K$39K10x
MEXC ZEC_USDT+0.0100%8h1,470.4+0.040%$232.6M$838.0M150xas long as short
KuCoin ZECUSDTM+0.0100%8h1,470.5+0.051%$103.5M$56.0M75xas long as short
Bitget ZECUSDT+0.0100%8h1,470.3+0.039%$162.9M$301.7M75xas long as short
BingX ZEC-USDC+0.0100%8h1,469.3−0.032%—$6.7M—as long as short
edgeX ZECUSDC+0.0100%4h1,470.1+0.023%$513K$9.2M20xas long as short
GRVT ZEC_USDT_Perp+0.0100%8h1,470.2+0.028%$3.0M$454K10xas long as short
StandX ZEC-USD+0.0100%1h1,471.2+0.098%$110K$4.8M30xas long as short
Polymarket Perps ZEC-USD+0.0100%1h1,471.2+0.098%$344K$1.8M10xas long as short
Bullet ZEC-USD+0.0100%1h1,470.1+0.026%$128K$159K20xas long as short
Derive ZEC-PERP+0.0100%1h1,469−0.053%$448K$498K6.7xas long as short
SunX ZEC-USDT+0.0100%8h1,473.5+0.257%$3K$1.2M20xas long as short
SoDEX ZEC-USD+0.0100%1h1,470.4+0.045%$238K$4.4M10xas long as short
HTX ZEC-USDT+0.0100%8h1,470+0.017%$2.5M$23.1M75xas long as short
Phemex ZECUSDT+0.0100%8h1,471.1+0.090%$3.9M$5.3M50xas long as short
Extended ZEC-USD+0.0104%1h1,470.7+0.062%$3.3M$6.9M10xas long as short
Aevo ZEC-PERP+0.0104%1h1,470.5+0.050%$37K$366K20xas long as short
RISEx ZEC/USDC+0.0132%1h1,471.9+0.145%$825K$1.2M10xas long as short
Deribit ZEC_USDC-PERPETUAL+0.0138%1h1,471.6+0.124%$614K$1.3M25xas long as short
Backpack ZEC_USDC_PERP+0.0418%1h1,471.5+0.117%$2.4M$3.8M15xas long as short
Coinbase International ZEC-PERP-INTX+0.0432%1h1,473.5+0.255%$3.8M$10.6M50xas long as short
Lighter RH ZEC+0.0472%1h1,472.4+0.178%$2.0M$8.3M10xas long as short
Aftermath Perps ZECUSD+0.0709%1h1,471.9+0.144%$46K$47K10xas long as short