Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0012%/8h= +1.3% APRpaid last 24h +0.028%

Price spread now: Lighter against Katana Perps+0.096%7-day average +0.069% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Katana Perps Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.174%+$17 on $10k

Price spread, last 7 days−0.078%−$8 · spread now +0.096%, 7d avg +0.069%

Together, before fees+0.096%+ Points / potential airdropLighter: Season 3 · farm board+$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Lighter is 0.027% dearer against Katana Perps than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.069%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps ZEC-USD	1,473.1	0.0100	pay 0.0100% / 8h	7h 57m	$12K	$851K	10x
Short	Lighter ZEC	1,474.5	0.0112	get 0.0014% / 1h	57m 04s	$19.2M	$50.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Katana Perps. 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 Katana PerpsbpFee LighterbpOrdersPrice spread, now +0.096%Rate

Funding earned: $2.56
Price spread: +0.096% → +0.069%: $2.71
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee Lighter: 0 bp × 2 orders: $0
Net: $1.48
Costs to cover: 0.038%
Break-even: 3.0 days

Slippage unknown: Katana Perps: no order-book sample; Lighter: live order book, 12 min ago. Net counts fees only.

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 Katana Perps no order-book sample	—	—	—	—	—
Sell Lighter live order book, 12 min ago	0.62 bp	0.8 bp −$1	2.2 bp −$22	9.2 bp −$924	65.4 bp −$32.7K

Katana Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.3321%	1h	1,473.2	+0.007%	$34K	$275K	12x	as long as short
Kraken Futures PF_ZECUSD	−0.0342%	1h	1,473.2	+0.005%	$17.9M	$43.6M	25x	as long as short
Phemex ZECUSDT	−0.0202%	8h	1,473.4	+0.021%	$3.8M	$5.4M	50x	as long as short
BloFin ZEC-USDT	−0.0101%	8h	1,473.3	+0.014%	$29.7M	$74.7M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,472.4	−0.044%	$6K	$2K	10x	as long as short
Variational Omni ZEC	−0.0063%	8h	1,469.3	−0.258%	$47.6M	$34.4M	—	as long as short
Ondo Perps ZEC-USD.P	−0.0025%	1h	1,468.7	−0.298%	$399K	$515K	5x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,471.6	−0.099%	$414K	$104K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,472.9	−0.012%	$957K	$5.6M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,472.5	−0.042%	$84K	$405K	10x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,472.9	−0.016%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0015%	8h	1,472.2	−0.059%	$294K	$1.4M	20x	as long as short
Phoenix ZEC	+0.0024%	1h	1,470.8	−0.158%	$4.7M	$1.6M	10x	as long as short
01 Exchange ZECUSD	+0.0024%	1h	1,473.3	+0.011%	$8K	$8K	5x	as long as short
ApeX Omni ZECUSDT	+0.0028%	1h	1,470.5	−0.177%	$431K	$845K	50x	as long as short
OKX ZEC-USDT-SWAP	+0.0039%	8h	1,473.6	+0.033%	$182.1M	$1.34B	50x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0055% / S −0.0010%	1h	1,472.9	−0.013%	$372K	—	100x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,472.5	−0.039%	$175K	$1.9M	50x	as long as short
Katana Perps ZEC-USDlong	+0.0100%	8h	1,473.1	long leg	$12K	$851K	10x
Paradex ZEC-USD-PERP	+0.0100%	8h	1,472.3	−0.057%	$61K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,473.2	+0.008%	$2.6M	$6.8M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,475.1	+0.136%	$764.8M	$473.5M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,473.8	+0.050%	$15.0M	$32.4M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,472.7	−0.029%	$1.7M	$2.9M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,473.9	+0.056%	$684.7M	$2.45B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,473.4	+0.020%	$275.1M	$648.3M	75x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,473.6	+0.031%	$698K	$8.5M	10x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,470.8	−0.159%	$895K	$33K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,473.5	+0.028%	$51.3M	$177.5M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,473.6	+0.033%	$230.0M	$819.0M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,472.6	−0.037%	$104.8M	$56.3M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,473.8	+0.048%	$164.0M	$300.6M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,472.5	−0.037%	—	$6.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,470	−0.207%	$549K	$9.1M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,470.6	−0.168%	$3.0M	$454K	10x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,471.6	−0.101%	$110K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,472	−0.074%	$334K	$1.9M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,472.6	−0.037%	$128K	$159K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,470.8	−0.157%	$458K	$508K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,474.2	+0.078%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,472.7	−0.028%	$243K	$4.4M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,471.4	−0.118%	$2.5M	$22.5M	75x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,474.2	+0.075%	$3.2M	$7.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,472	−0.071%	$28K	$201K	20x	as long as short
Lighter ZECshort	+0.0112%	1h	1,474.5	+0.096%	$19.2M	$50.2M	20x
Deribit ZEC_USDC-PERPETUAL	+0.0193%	1h	1,473.7	+0.038%	$615K	$1.3M	25x	as long as short
RISEx ZEC/USDC	+0.0228%	1h	1,473	−0.004%	$840K	$1.2M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0448%	1h	1,474.9	+0.125%	$3.8M	$10.6M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0579%	1h	1,474.3	+0.085%	$2.5M	$3.8M	15x	as long as short
Lighter RH ZEC	+0.0616%	1h	1,475.3	+0.151%	$2.0M	$7.9M	10x	as long as short
Aftermath Perps ZECUSD	+0.0780%	1h	1,473.1	+0.001%	$46K	$46K	10x	as long as short