Funding you earn now, next payment 22:00 UTC+0.0580%/8h= +63.5% APRnext payment +$0.72 per $10,000 · paid last 24h −0.052%
Price spread now: Lighter RH against Hyperliquid+0.133%7-day average +0.035% · you sell dearer than you buy
Net, funding: paid 7d − costs−$20as in the Funding arb table
Net, price: spread back to 7d avg − costs−$5as in the Price arb table
costs, in and out, $10k−$150.149% of the position
Funding, last 7 days−0.050%−$5 on $10k
+Price spread, last 7 days−0.156%−$16 · spread now +0.133%, 7d avg +0.035%
=Together, before fees−0.206%+ Points / potential airdropHyperliquid: Season 2 · Lighter RH: Points live · farm board−$21 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$17 a day on $10k at the current rate, and Lighter RH is 0.098% dearer against Hyperliquid than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.035%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.050% in total (about -2.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.72 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid ZEC | 1,454.5 | 0.0100 | pay 0.0013% / 1h | 49m 53s | $752.0M | $493.3M | 10x |
| Short | Lighter RH ZEC | 1,456.4 | 0.0680 | get 0.0085% / 1h | 49m 53s | $1.9M | $8.4M | 10x |
Hyperliquid ZEC
Lighter RH ZECFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against Hyperliquid. 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
- $121.8
- Price spread: +0.133% → +0.035%
- $9.81
- Slippage, 4 orders
- −$5.91
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- $116.7
- Costs to cover
- 0.149%
- Break-even
- 0.3 days
Slippage from Hyperliquid: live order book, 4 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 Hyperliquid live order book, 4 min ago | 0.34 bp | 4.8 bp −$5 | 6.2 bp −$62 | doesn't fit | doesn't fit |
| Sell Lighter RH live order book, 4 min ago | 1.51 bp | 1.5 bp −$2 | 4.3 bp −$43 | 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 | −0.3476% | 1h | 1,437.6 | −1.161% | $33K | $275K | 12x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,452.5 | −0.138% | $6K | $2K | 10x | as long as short |
| Kraken Futures PF_ZECUSD | −0.0071% | 1h | 1,454.1 | −0.026% | $17.6M | $44.6M | 25x | as long as short |
| BloFin ZEC-USDT | −0.0069% | 8h | 1,453.2 | −0.089% | $28.9M | $75.9M | 75x | as long as short |
| Variational Omni ZEC | −0.0026% | 8h | 1,451.7 | −0.192% | $45.5M | $32.1M | — | as long as short |
| Bybit ZECUSDT | −0.0009% | 8h | 1,453.5 | −0.068% | $269.4M | $677.0M | 75x | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,454.8 | +0.023% | $410K | $106K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,454.9 | +0.030% | $849K | $5.5M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,454.9 | +0.024% | $83K | $400K | 10x | as long as short |
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,454.3 | −0.013% | $5.1M | — | 150x | 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
gTrade (Gains Network) ZEC/USDShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_ZEC_USDC | +0.0008% | 8h | 1,454.5 | −0.002% | $292K | $1.5M | 20x | as long as short |
| Deribit ZEC_USDC-PERPETUAL | +0.0017% | 1h | 1,455.2 | +0.050% | $567K | $1.3M | 25x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0038% | 8h | 1,454 | −0.033% | $172.4M | $1.37B | 50x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0038% / S +0.0065% | 1h | 1,453.7 | −0.057% | $544K | — | 100x | as long as short |
| Aster ZECUSDT | +0.0055% | 8h | 1,454.5 | +0.001% | $15.3M | $35.2M | 75x | as long as short |
| Gate ZEC_USDT | +0.0067% | 8h | 1,454.1 | −0.028% | $49.1M | $185.5M | 75x | as long as short |
| 01 Exchange ZECUSD | +0.0072% | 1h | 1,455 | +0.031% | $8K | $8K | 5x | as long as short |
| Katana Perps ZEC-USD | +0.0095% | 8h | 1,454.8 | +0.023% | $17K | $886K | 10x | as long as short |
| Lighter ZEC | +0.0096% | 1h | 1,455.5 | +0.070% | $18.8M | $53.9M | 20x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,454.7 | +0.012% | $178K | $2.0M | 50x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,455 | +0.032% | $60K | $37K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,455.1 | +0.039% | $3.0M | $6.8M | 10x | as long as short |
| Hyperliquid ZEClong | +0.0100% | 1h | 1,454.5 | long leg | $752.0M | $493.3M | 10x | |
| Pacifica ZEC | +0.0100% | 1h | 1,455.2 | +0.046% | $1.6M | $3.1M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,454.1 | −0.027% | $659.6M | $2.55B | 75x | as long as short |
| Ondo Perps ZEC-USD.P | +0.0100% | 1h | 1,449.8 | −0.323% | $394K | $522K | 5x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,455 | +0.032% | $896K | $37K | 10x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,454.4 | −0.008% | $219.2M | $881.5M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,454.5 | +0.003% | $103.7M | $57.3M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,454 | −0.038% | $162.0M | $316.8M | 75x | as long as short |
| BingX ZEC-USDC | +0.0100% | 8h | 1,453.1 | −0.096% | — | $6.8M | — | as long as short |
| Backpack ZEC_USDC_PERP | +0.0100% | 1h | 1,455 | +0.036% | $2.3M | $4.2M | 15x | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,453.4 | −0.076% | $487K | $9.8M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,452.9 | −0.109% | $3.0M | $501K | 10x | as long as short |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,454.1 | −0.030% | $707K | $606K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,452.6 | −0.129% | $109K | $4.8M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,454.8 | +0.021% | $299K | $2.1M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,453.6 | −0.065% | $127K | $161K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,452.9 | −0.111% | $442K | $493K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,457.7 | +0.221% | $3K | $1.3M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,454.2 | −0.023% | $220K | $4.7M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,455 | +0.034% | $2.4M | $25.2M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,454 | −0.036% | $3.7M | $5.5M | 50x | as long as short |
| Phoenix ZEC | +0.0103% | 1h | 1,452.3 | −0.155% | $4.6M | $1.6M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,454.1 | −0.025% | $36K | $362K | 20x | as long as short |
| RISEx ZEC/USDC | +0.0219% | 1h | 1,455.7 | +0.080% | $864K | $2.5M | 10x | as long as short |
| Extended ZEC-USD | +0.0288% | 1h | 1,455 | +0.035% | $3.3M | $7.0M | 10x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0440% | 1h | 1,456.8 | +0.159% | $3.7M | $11.6M | 50x | as long as short |
| Aftermath Perps ZECUSD | +0.0462% | 1h | 1,454 | −0.033% | $39K | $32K | 10x | as long as short |
| Arcus ZEC-USD | +0.0518% | 1h | 1,457.1 | +0.177% | $756K | $7.8M | 10x | as long as short |
| Lighter RH ZECshort | +0.0680% | 1h | 1,456.4 | +0.133% | $1.9M | $8.4M | 10x |
Orderly PERP_ZEC_USDC
Deribit ZEC_USDC-PERPETUAL
OKX ZEC-USDT-SWAP
GMX ZEC/USD [WBTC.b-USDC]
Aster ZECUSDT
Gate ZEC_USDT
01 Exchange ZECUSD
Katana Perps ZEC-USD
Lighter ZEC
Popdex ZECUSDT
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Pacifica ZEC
Binance ZECUSDT
Ondo Perps ZEC-USD.P
Bulk ZEC-USD
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDC
Backpack ZEC_USDC_PERP
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
Aevo ZEC-PERP
RISEx ZEC/USDC
Extended ZEC-USD
Coinbase International ZEC-PERP-INTX
Aftermath Perps ZECUSD
Arcus ZEC-USD