ZEC

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0128%/8h= −14.0% APRnext payment −$0.16 per $10,000 · paid last 24h −0.054%

Price spread now: Lighter against Coinbase International−0.085%7-day average −0.061% · you buy dearer than you sell

Net, funding: paid 7d − costs$0as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$270.272% of the position

Long on Coinbase International Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.276%+$28 on $10k

Price spread, last 4 days (all we have)−0.684%−$68 · spread now −0.085%, 7d avg −0.061%

Together, before fees−0.408%+ Points / potential airdropLighter: Season 3 · farm board−$41 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Lighter is 0.024% cheaper against Coinbase International than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.061%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.276%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ZEC-PERP-INTX	1,449.9	0.0448	pay 0.0056% / 1h	51m 01s	$3.7M	$8.9M	50x
Short	Lighter ZEC	1,448.7	0.0320	get 0.0040% / 1h	51m 01s	$19.0M	$45.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Coinbase International. 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 Coinbase InternationalbpFee LighterbpOrdersPrice spread, now −0.085%Rate

Funding earned: −$26.88
Price spread: −0.085% → −0.061%: −$2.43
Slippage, 4 orders: −$17.19
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$56.49
Costs to cover: 0.272%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 3 min ago; Lighter: live order book, 8 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 Coinbase International live order book, 3 min ago	1.17 bp	9.4 bp −$9	14.8 bp −$148	47.4 bp −$4,742	doesn't fit
Sell Lighter live order book, 8 min ago	0.81 bp	1.5 bp −$1	2.0 bp −$20	14.2 bp −$1,417	74.3 bp −$37.2K

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	−0.3166%	1h	1,449.6	−0.023%	$33K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,447.8	−0.149%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0078%	8h	1,447.1	−0.197%	$29.2M	$70.3M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,446.7	−0.224%	$407K	$40K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,448.2	−0.121%	$1.5M	$4.5M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,447.1	−0.197%	$83K	$240K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,447.8	−0.148%	$5.1M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0058%	8h	1,447.7	−0.152%	$290K	$958K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0064% / S −0.0014%	1h	1,448.2	−0.118%	$407K	—	100x	as long as short
01 Exchange ZECUSD	+0.0080%	1h	1,447.6	−0.157%	$7K	$7K	5x	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	1,447.6	−0.160%	$172K	$1.7M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,447.2	−0.187%	$10K	$874K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,447.5	−0.165%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,447.4	−0.171%	$2.5M	$6.3M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,448.2	−0.119%	$753.3M	$434.2M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,447.9	−0.139%	$14.4M	$27.7M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,447.7	−0.155%	$1.6M	$2.5M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,448.8	−0.074%	$664.5M	$2.21B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,448.5	−0.097%	$261.3M	$602.3M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,448.8	−0.077%	$177.2M	$1.22B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,448.7	−0.084%	$394K	$449K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,449.4	−0.033%	$876K	$23K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,447	−0.199%	$49.8M	$172.1M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,448.4	−0.106%	$214.2M	$767.7M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,448.4	−0.105%	$101.9M	$55.0M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,448.6	−0.091%	$161.8M	$272.3M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,449.2	−0.050%	—	$99.5M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,448.2	−0.121%	$2.5M	$3.8M	15x	as long as short
Variational Omni ZEC	+0.0100%	8h	1,447.2	−0.191%	$47.4M	$32.8M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,449.2	−0.047%	$564K	$8.7M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,448.8	−0.079%	$3.0M	$424K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,448.4	−0.104%	$407K	$913K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,449.7	−0.016%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,447.3	−0.181%	$365K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,448.3	−0.111%	$160K	$185K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,446.7	−0.222%	$442K	$521K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,450.2	+0.017%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,447.8	−0.150%	$232K	$3.4M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,447	−0.204%	$2.6M	$18.2M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,447.6	−0.160%	$3.8M	$5.1M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,448.2	−0.116%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,447.6	−0.160%	$47K	$151K	20x	as long as short
Phoenix ZEC	+0.0123%	1h	1,450.6	+0.048%	$4.6M	$1.3M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0272%	1h	1,448.4	−0.103%	$608K	$1.3M	25x	as long as short
Kraken Futures PF_ZECUSD	+0.0279%	1h	1,447.5	−0.167%	$17.9M	$44.7M	25x	as long as short
Lighter ZECshort	+0.0320%	1h	1,448.7	−0.085%	$19.0M	$45.8M	20x
Lighter RH ZEC	+0.0384%	1h	1,449.4	−0.039%	$2.0M	$6.9M	10x	as long as short
RISEx ZEC/USDC	+0.0412%	1h	1,448.2	−0.121%	$829K	$1.0M	10x	as long as short
Coinbase International ZEC-PERP-INTXlong	+0.0448%	1h	1,449.9	long leg	$3.7M	$8.9M	50x
Arcus ZEC-USD	+0.0626%	1h	1,449.9	−0.001%	$731K	$8.3M	10x	as long as short
Aftermath Perps ZECUSD	+0.0680%	1h	1,449.9	−0.004%	$44K	$49K	10x	as long as short