Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0068%/8h= −7.4% APRpaid last 24h −0.018%

Price spread now: edgeX against Lighter−0.282%109s7-day average −0.130% · you buy dearer than you sell

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$120.118% of the position

Long on Lighter Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.168%−$17 on $10k

Price spread, last 7 days+0.194%+$19 · spread now −0.282%, 7d avg −0.130%

Together, before fees+0.026%+ Points / potential airdropLighter: Season 3 · edgeX: Active · farm board+$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and edgeX is 0.152% cheaper against Lighter than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of −0.130%). Swap the legs. The two prices were read 109 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ZEC	1,465.7	0.0168	pay 0.0021% / 1h	9m 42s	$19.4M	$45.4M	20x
Short	edgeX ZECUSDC	1,461.5	0.0100	get 0.0050% / 4h	3h 09m	$569K	$8.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Lighter. 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 LighterbpFee edgeXbpOrdersPrice spread, now −0.282%Rate

Funding earned: −$14.28
Price spread: −0.282% → −0.130%: −$15.16
Slippage, 4 orders: −$2.77
Fee Lighter: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$41.21
Costs to cover: 0.118%
Break-even: never at this rate

Slippage from Lighter: live order book, 4 min ago; edgeX: 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, 4 min ago	0.70 bp	0.8 bp −$1	2.6 bp −$26	8.1 bp −$811	61.6 bp −$30.8K
Sell edgeX live order book, 4 min ago	0.34 bp	4.8 bp −$5	9.0 bp −$90	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	−0.3042%	1h	1,463	−0.180%	$34K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,466.3	+0.042%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0071%	8h	1,466.1	+0.030%	$29.7M	$71.0M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,463.5	−0.146%	$407K	$37K	5x	as long as short
Perpl ZEC	0.0000%	43m	1,463.1	−0.176%	$84K	$239K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,463.5	−0.152%	$5.2M	—	150x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0016%	1h	1,463.9	−0.121%	$616K	$1.3M	25x	as long as short
Orderly PERP_ZEC_USDC	+0.0063%	8h	1,463.4	−0.153%	$292K	$903K	20x	as long as short
Ondo Perps ZEC-USD.P	+0.0071%	1h	1,460.4	−0.360%	$397K	$435K	5x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0088% / S −0.0040%	1h	1,463.2	−0.170%	$437K	—	100x	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	1,463.9	−0.120%	$174K	$1.7M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,464.3	−0.096%	$14K	$801K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,463.7	−0.135%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,464.9	−0.055%	$2.9M	$6.4M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,464.4	−0.085%	$14.6M	$27.8M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,463.7	−0.134%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,464.4	−0.090%	$673.9M	$2.17B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,463.8	−0.125%	$262.4M	$587.6M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,463.9	−0.124%	$179.3M	$1.21B	50x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,460.6	−0.346%	$882K	$17K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,463.9	−0.121%	$52.3M	$173.3M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,464.1	−0.107%	$220.3M	$775.3M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,464.3	−0.094%	$103.1M	$53.1M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,464.4	−0.088%	$166.2M	$267.6M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,463.9	−0.119%	—	$106.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,464.4	−0.086%	$48.0M	$32.5M	—	as long as short
edgeX ZECUSDCshort	+0.0100%	4h	1,461.5	−0.282%	$569K	$8.5M	20x
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,463.2	−0.171%	$3.0M	$464K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,461.4	−0.293%	$404K	$945K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,465.7	−0.002%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,463.6	−0.142%	$358K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,463.1	−0.176%	$161K	$186K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,462.4	−0.226%	$446K	$504K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,465.9	+0.014%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,463.6	−0.145%	$234K	$3.1M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,462.2	−0.236%	$2.7M	$18.2M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,463.2	−0.167%	$3.9M	$4.9M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,464	−0.112%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,463.2	−0.167%	$47K	$151K	20x	as long as short
Phoenix ZEC	+0.0116%	1h	1,462.7	−0.204%	$4.7M	$1.3M	10x	as long as short
01 Exchange ZECUSD	+0.0120%	1h	1,464.6	−0.075%	$8K	$7K	5x	as long as short
Lighter RH ZEC	+0.0128%	1h	1,465.8	+0.008%	$2.1M	$7.0M	10x	as long as short
Hyperliquid ZEC	+0.0147%	1h	1,465.6	−0.005%	$763.7M	$419.3M	10x	as long as short
Lighter ZEClong	+0.0168%	1h	1,465.7	long leg	$19.4M	$45.4M	20x
Kalshi KXZECPERP	+0.0179%	8h	1,464.8	−0.058%	$1.5M	$4.4M	2.2x	as long as short
RISEx ZEC/USDC	+0.0216%	1h	1,464.2	−0.098%	$926K	$1.1M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0299%	1h	1,464	−0.112%	$2.4M	$3.8M	15x	as long as short
Kraken Futures PF_ZECUSD	+0.0331%	1h	1,463.4	−0.157%	$18.0M	$45.4M	25x	as long as short
Arcus ZEC-USD	+0.0344%	1h	1,465.3	−0.026%	$676K	$8.1M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0464%	1h	1,468.4	+0.183%	$3.8M	$9.1M	50x	as long as short
Aftermath Perps ZECUSD	+0.0684%	1h	1,462.7	−0.203%	$45K	$49K	10x	as long as short