Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0804%/8h= −88.1% APRpaid last 24h −0.087%

Price spread now: BloFin against Lighter RH+0.026%7-day average −0.064% · you sell dearer than you buy

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$230.226% of the position

Long on Lighter RH Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.474%−$47 on $10k

Price spread, last 3 days (all we have)+0.035%+$3 · spread now +0.026%, 7d avg −0.064%

Together, before fees−0.440%+ Points / potential airdropLighter RH: Points live · farm board−$44 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.090% dearer against Lighter RH than usual: you sell high and buy low (spread +0.026% now, against its 7-day average of −0.064%): +$9 on $10k if it goes back. Holding the pair costs −$24 a day in funding at the current rate, which eats that in about 9 hours. At the pace of the last 7 days (−0.474% in total) that is about 32 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.474% in total (about -24.7% a year). A funding rate is set anew for every payment. 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	Lighter RH ZEC	1,472.6	0.0688	pay 0.0086% / 1h	6m 31s	$2.0M	$8.3M	10x
Short	BloFin ZEC-USDT	1,472.9	−0.0116	pay 0.0116% / 8h	7h 06m	$29.7M	$72.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Lighter RH. 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 Lighter RHbpFee BloFinbpOrdersPrice spread, now +0.026%Rate

Funding earned: −$168.91
Price spread: +0.026% → −0.064%: $8.97
Slippage, 4 orders: −$10.56
Fee Lighter RH: 0 bp × 2 orders: $0
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$182.5
Costs to cover: 0.226%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 2 min ago; BloFin: live order book, 3 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 RH live order book, 2 min ago	1.97 bp	2.2 bp −$2	5.8 bp −$58	doesn't fit	doesn't fit
Sell BloFin live order book, 3 min ago	1.46 bp	8.2 bp −$8	12.2 bp −$122	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	−0.3321%	1h	1,471.6	−0.068%	$34K	$275K	12x	as long as short
Kraken Futures PF_ZECUSD	−0.0342%	1h	1,473.9	+0.094%	$18.0M	$43.0M	25x	as long as short
Ondo Perps ZEC-USD.P	−0.0123%	1h	1,467.7	−0.330%	$400K	$517K	5x	as long as short
BloFin ZEC-USDTshort	−0.0116%	8h	1,472.9	+0.026%	$29.7M	$72.5M	75x
Hotstuff ZEC-PERP	−0.0080%	1h	1,472.4	−0.014%	$6K	$2K	10x	as long as short
Variational Omni ZEC	−0.0021%	8h	1,466.4	−0.421%	$47.6M	$33.6M	—	as long as short
dYdX ZEC-USD	0.0000%	1h	1,471	−0.109%	$414K	$103K	5x	as long as short
01 Exchange ZECUSD	0.0000%	1h	1,470	−0.176%	$8K	$9K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,473	+0.029%	$960K	$5.2M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,471.9	−0.044%	$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	1,473.7	+0.075%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0021%	8h	1,474.2	+0.112%	$294K	$1.1M	20x	as long as short
Phoenix ZEC	+0.0054%	1h	1,470	−0.175%	$4.6M	$1.6M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0055% / S −0.0010%	1h	1,473.6	+0.071%	$379K	—	100x	as long as short
OKX ZEC-USDT-SWAP	+0.0066%	8h	1,470	−0.173%	$181.5M	$1.29B	50x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,470.3	−0.154%	$173K	$1.8M	50x	as long as short
Gate ZEC_USDT	+0.0097%	8h	1,470.8	−0.122%	$50.4M	$182.1M	75x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,469.9	−0.183%	$12K	$847K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,471.1	−0.099%	$61K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,471.7	−0.061%	$2.6M	$6.5M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,472.6	+0.003%	$766.9M	$451.0M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,472.6	+0.003%	$14.9M	$31.3M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,471.6	−0.065%	$1.7M	$2.8M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,470.1	−0.168%	$683.3M	$2.35B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,470	−0.176%	$273.0M	$628.9M	75x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,472.5	−0.002%	$686K	$8.6M	10x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,467.8	−0.323%	$893K	$21K	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,471.1	−0.101%	$218.2M	$831.8M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,471	−0.106%	$104.1M	$55.2M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,470.7	−0.130%	$163.6M	$289.8M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,470.8	−0.117%	—	$100.3M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,468.5	−0.278%	$572K	$9.1M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,469.6	−0.200%	$3.0M	$450K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,469.7	−0.192%	$427K	$880K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,473.2	+0.043%	$71K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,473.1	+0.037%	$341K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,473.3	+0.050%	$128K	$158K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,472.7	+0.012%	$459K	$510K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,474.1	+0.105%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,473.9	+0.088%	$243K	$3.9M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,472.5	−0.001%	$2.5M	$19.2M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,473.7	+0.077%	$3.8M	$5.3M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,470.4	−0.146%	$3.2M	$7.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,473.8	+0.086%	$55K	$161K	20x	as long as short
Lighter ZEC	+0.0224%	1h	1,472.9	+0.023%	$19.2M	$50.6M	20x	as long as short
RISEx ZEC/USDC	+0.0228%	1h	1,471.2	−0.093%	$854K	$1.0M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0409%	1h	1,475.1	+0.173%	$607K	$1.3M	25x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0448%	1h	1,476.4	+0.261%	$3.7M	$9.7M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0515%	1h	1,473.6	+0.069%	$2.5M	$3.9M	15x	as long as short
Lighter RH ZEClong	+0.0688%	1h	1,472.6	long leg	$2.0M	$8.3M	10x
Aftermath Perps ZECUSD	+0.0754%	1h	1,469.5	−0.209%	$43K	$46K	10x	as long as short