Funding you earn now, next payment 22:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.01 per $10,000 · paid last 24h −0.025%
Price spread now: Backpack against Lighter−0.046%7-day average +0.322% · you buy dearer than you sell
Net, funding: paid 7d − costs−$72as in the Funding arb table
Net, price: spread back to 7d avg − costs−$52as in the Price arb table
costs, in and out, $10k−$150.149% of the position
Funding, last 7 days−0.569%−$57 on $10k
+Price spread, last 7 days−0.915%−$91 · spread now −0.046%, 7d avg +0.322%
=Together, before fees−1.483%+ Points / potential airdropLighter: Season 3 · farm board−$148 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: Backpack is 0.367% cheaper against Lighter than usual: you would sell low and buy high, −$37 on $10k if it goes back to its 7-day average of +0.322%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter ZEC | 1,458.9 | 0.0096 | pay 0.0012% / 1h | 14m 58s | $18.8M | $54.7M | 20x |
| Short | Backpack ZEC_USDC_PERP | 1,458.3 | 0.0100 | get 0.0013% / 1h | 14m 58s | $2.3M | $4.1M | 15x |
Lighter ZEC
Backpack ZEC_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Lighter. 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
- $0.84
- Price spread: −0.046% → +0.322%
- −$36.73
- Slippage, 4 orders
- −$4.86
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$50.75
- Costs to cover
- 0.149%
- Break-even
- 430.0 days
Slippage from Lighter: live order book, 9 min ago; Backpack: 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 Lighter live order book, 9 min ago | 0.93 bp | 1.2 bp −$1 | 3.1 bp −$31 | 19.0 bp −$1,901 | 81.3 bp −$40.6K |
| Sell Backpack live order book, 4 min ago | 0.03 bp | 5.6 bp −$6 | 24.8 bp −$248 | 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 | 1,433.1 | −1.767% | $33K | $275K | 12x | as long as short |
| BloFin ZEC-USDT | −0.0085% | 8h | 1,457.2 | −0.122% | $28.7M | $75.4M | 75x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,457.1 | −0.126% | $6K | $2K | 10x | as long as short |
| Kraken Futures PF_ZECUSD | −0.0071% | 1h | 1,457.4 | −0.104% | $17.7M | $44.6M | 25x | as long as short |
| Bybit ZECUSDT | −0.0004% | 8h | 1,456.2 | −0.189% | $268.8M | $677.6M | 75x | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,457.2 | −0.119% | $410K | $106K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,458.6 | −0.020% | $934K | $5.7M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,457 | −0.133% | $83K | $401K | 10x | as long as short |
| Deribit ZEC_USDC-PERPETUAL | 0.0000% | 1h | 1,458 | −0.062% | $593K | $1.3M | 25x | as long as short |
| Variational Omni ZEC | +0.0002% | 8h | 1,456.6 | −0.160% | $45.6M | $33.4M | — | as long as short |
Injective ZEC/USDC PERP
BloFin ZEC-USDT
Hotstuff ZEC-PERP
Kraken Futures PF_ZECUSD
Bybit ZECUSDT
dYdX ZEC-USD
Kalshi KXZECPERP
Perpl ZEC
Deribit ZEC_USDC-PERPETUAL
Variational Omni ZECShow 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 | 1,457.7 | −0.081% | $5.2M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0016% | 8h | 1,457.4 | −0.102% | $292K | $1.5M | 20x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0019% / S +0.0072% | 1h | 1,457.6 | −0.092% | $557K | — | 100x | as long as short |
| 01 Exchange ZECUSD | +0.0048% | 1h | 1,457.8 | −0.078% | $8K | $8K | 5x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0057% | 8h | 1,456.8 | −0.148% | $173.8M | $1.36B | 50x | as long as short |
| Gate ZEC_USDT | +0.0072% | 8h | 1,456.9 | −0.139% | $49.3M | $190.8M | 75x | as long as short |
| Ondo Perps ZEC-USD.P | +0.0075% | 1h | 1,452.8 | −0.420% | $395K | $519K | 5x | as long as short |
| Katana Perps ZEC-USD | +0.0095% | 8h | 1,457.3 | −0.114% | $15K | $871K | 10x | as long as short |
| Aster ZECUSDT | +0.0095% | 8h | 1,457.5 | −0.099% | $15.3M | $34.1M | 75x | as long as short |
| Lighter ZEClong | +0.0096% | 1h | 1,458.9 | long leg | $18.8M | $54.7M | 20x | |
| Popdex ZECUSDT | +0.0096% | 1h | 1,457.2 | −0.121% | $173K | $2.0M | 50x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,457.3 | −0.113% | $60K | $39K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,457.7 | −0.087% | $2.5M | $7.1M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,458.4 | −0.036% | $754.1M | $495.1M | 10x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,457.7 | −0.082% | $1.6M | $3.0M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,457.2 | −0.118% | $665.3M | $2.53B | 75x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,457.2 | −0.120% | $217.5M | $898.2M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,457 | −0.130% | $103.1M | $57.0M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,457.1 | −0.122% | $161.3M | $312.5M | 75x | as long as short |
| BingX ZEC-USDT | +0.0100% | 8h | 1,457.1 | −0.122% | — | $101.4M | — | as long as short |
| Backpack ZEC_USDC_PERPshort | +0.0100% | 1h | 1,458.3 | −0.046% | $2.3M | $4.1M | 15x | |
| edgeX ZECUSDC | +0.0100% | 4h | 1,455.2 | −0.256% | $489K | $9.6M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,456.7 | −0.150% | $3.0M | $510K | 10x | as long as short |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,456.7 | −0.154% | $428K | $814K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,457.9 | −0.072% | $109K | $4.8M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,456.9 | −0.139% | $344K | $2.0M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,457.3 | −0.113% | $127K | $161K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,456.2 | −0.189% | $443K | $498K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,459.5 | +0.042% | $3K | $1.3M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,457.4 | −0.106% | $221K | $4.7M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,457.2 | −0.122% | $2.4M | $24.9M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,457.5 | −0.096% | $3.8M | $5.4M | 50x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,455 | −0.270% | $896K | $26K | 10x | as long as short |
| Phoenix ZEC | +0.0103% | 1h | 1,457.5 | −0.098% | $4.6M | $1.6M | 10x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,457.7 | −0.085% | $3.3M | $6.9M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,457.5 | −0.100% | $36K | $362K | 20x | as long as short |
| RISEx ZEC/USDC | +0.0219% | 1h | 1,457.9 | −0.068% | $863K | $1.8M | 10x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0440% | 1h | 1,459.2 | +0.022% | $3.8M | $11.5M | 50x | as long as short |
| Aftermath Perps ZECUSD | +0.0464% | 1h | 1,457.2 | −0.118% | $40K | $34K | 10x | as long as short |
| Arcus ZEC-USD | +0.0518% | 1h | 1,458.8 | −0.007% | $750K | $8.0M | 10x | as long as short |
| Lighter RH ZEC | +0.0616% | 1h | 1,459.6 | +0.043% | $1.9M | $8.5M | 10x | as long as short |
gTrade (Gains Network) ZEC/USD
Orderly PERP_ZEC_USDC
GMX ZEC/USD [WBTC.b-USDC]
01 Exchange ZECUSD
OKX ZEC-USDT-SWAP
Gate ZEC_USDT
Ondo Perps ZEC-USD.P
Katana Perps ZEC-USD
Aster ZECUSDT
Popdex ZECUSDT
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Hyperliquid ZEC
Pacifica ZEC
Binance ZECUSDT
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDT
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
Bulk ZEC-USD
Phoenix ZEC
Extended ZEC-USD
Aevo ZEC-PERP
RISEx ZEC/USDC
Coinbase International ZEC-PERP-INTX
Aftermath Perps ZECUSD
Arcus ZEC-USD
Lighter RH ZEC