Funding you earn now, next payment 03:00 UTC+0.0085%/8h= +9.3% APRnext payment +$0.11 per $10,000 · paid last 24h +0.026%
Price spread now: Lighter RH against Phoenix−0.145%75s7-day average −0.061% · you buy dearer than you sell
Net, funding: paid 7d − costs−$41as 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−$160.156% of the position
Funding, last 7 days−0.249%−$25 on $10k
+Price spread, last 7 days−0.017%−$2 · spread now −0.145%, 7d avg −0.061%
=Together, before fees−0.267%+ Points / potential airdropLighter RH: Points live · farm board−$27 on $10k · with fees, hour by hour
Funding pays, the price is against you. Lighter RH is 0.085% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.145% now, against its 7-day average of −0.061%). If the spread goes back, that is −$8 on $10k: about 3.3 days of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −0.249%, so the current rate has only just turned in your favour. The two prices were read 75 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 | Phoenix ZEC | 1,457.7 | 0.0123 | pay 0.0015% / 1h | 55m 54s | $4.6M | $1.3M | 10x |
| Short | Lighter RH ZEC | 1,455.6 | 0.0208 | get 0.0026% / 1h | 55m 54s | $2.1M | $7.0M | 10x |
Phoenix ZEC
Lighter RH ZECFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against Phoenix. 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
- $17.79
- Price spread: −0.145% → −0.061%
- −$8.45
- Slippage, 4 orders
- −$8.58
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$6.24
- Costs to cover
- 0.156%
- Break-even
- 9.5 days
Slippage from Phoenix: live order book, 3 min ago; Lighter RH: 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 Phoenix live order book, 3 min ago | 1.51 bp | 6.1 bp −$6 | 13.4 bp −$134 | 88.0 bp −$8,798 | doesn't fit |
| Sell Lighter RH live order book, 3 min ago | 1.06 bp | 1.2 bp −$1 | 6.1 bp −$61 | 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 | 1,456.2 | −0.104% | $34K | $272K | 12x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,454.8 | −0.199% | $6K | $1K | 10x | as long as short |
| BloFin ZEC-USDT | −0.0070% | 8h | 1,454.6 | −0.214% | $29.5M | $70.7M | 75x | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,454.4 | −0.224% | $410K | $37K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,456.4 | −0.084% | $1.5M | $4.5M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,453.7 | −0.270% | $83K | $240K | 10x | as long as short |
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,454.8 | −0.200% | $5.2M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0063% | 8h | 1,454.8 | −0.200% | $291K | $952K | 20x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0072% / S −0.0024% | 1h | 1,454.6 | −0.207% | $408K | — | 100x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,454.5 | −0.220% | $173K | $1.7M | 50x | as long as short |
Injective ZEC/USDC PERP
Hotstuff ZEC-PERP
BloFin ZEC-USDT
dYdX ZEC-USD
Kalshi KXZECPERP
Perpl ZEC
gTrade (Gains Network) ZEC/USD
Orderly PERP_ZEC_USDC
GMX ZEC/USD [WBTC.b-USDC]
Popdex ZECUSDTShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Katana Perps ZEC-USD | +0.0100% | 8h | 1,454.8 | −0.197% | $10K | $858K | 10x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,454.4 | −0.225% | $60K | $43K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,454.8 | −0.196% | $2.8M | $6.6M | 10x | as long as short |
| Aster ZECUSDT | +0.0100% | 8h | 1,454.1 | −0.244% | $14.7M | $27.9M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,454.6 | −0.214% | $1.7M | $2.4M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,454.1 | −0.244% | $668.0M | $2.21B | 75x | as long as short |
| Bybit ZECUSDT | +0.0100% | 8h | 1,453.5 | −0.287% | $260.9M | $601.9M | 75x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0100% | 8h | 1,454.1 | −0.248% | $177.6M | $1.22B | 50x | as long as short |
| Ondo Perps ZEC-USD.P | +0.0100% | 1h | 1,458 | +0.023% | $395K | $442K | 5x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,457.5 | −0.009% | $880K | $18K | 10x | as long as short |
| Gate ZEC_USDT | +0.0100% | 8h | 1,454.2 | −0.241% | $50.5M | $170.0M | 75x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,454.2 | −0.239% | $214.3M | $763.8M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,454.3 | −0.230% | $102.6M | $53.9M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,454.4 | −0.225% | $165.3M | $270.9M | 75x | as long as short |
| BingX ZEC-USDC | +0.0100% | 8h | 1,453.5 | −0.287% | — | $6.7M | — | as long as short |
| Variational Omni ZEC | +0.0100% | 8h | 1,454 | −0.250% | $47.7M | $32.6M | — | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,458.2 | +0.039% | $567K | $8.5M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,456.2 | −0.102% | $3.0M | $451K | 10x | as long as short |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,456.9 | −0.056% | $404K | $943K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,455.1 | −0.176% | $49K | $4.7M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,454.2 | −0.238% | $353K | $1.8M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,454.7 | −0.204% | $160K | $185K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,453.6 | −0.278% | $444K | $521K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,456.5 | −0.084% | $3K | $1.2M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,454.4 | −0.224% | $233K | $3.4M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,454.2 | −0.237% | $2.7M | $18.4M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,455 | −0.182% | $3.8M | $5.1M | 50x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,454 | −0.254% | $2.8M | $7.7M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,454.6 | −0.213% | $47K | $151K | 20x | as long as short |
| 01 Exchange ZECUSD | +0.0112% | 1h | 1,455 | −0.184% | $8K | $7K | 5x | as long as short |
| Phoenix ZEClong | +0.0123% | 1h | 1,457.7 | long leg | $4.6M | $1.3M | 10x | |
| Hyperliquid ZEC | +0.0131% | 1h | 1,455.4 | −0.156% | $757.0M | $431.8M | 10x | as long as short |
| Backpack ZEC_USDC_PERP | +0.0154% | 1h | 1,454.7 | −0.204% | $2.4M | $3.9M | 15x | as long as short |
| Lighter ZEC | +0.0168% | 1h | 1,455.6 | −0.139% | $19.2M | $44.7M | 20x | as long as short |
| Lighter RH ZECshort | +0.0208% | 1h | 1,455.6 | −0.145% | $2.1M | $7.0M | 10x | |
| RISEx ZEC/USDC | +0.0216% | 1h | 1,454.5 | −0.217% | $921K | $1.1M | 10x | as long as short |
| Deribit ZEC_USDC-PERPETUAL | +0.0253% | 1h | 1,455.5 | −0.147% | $614K | $1.3M | 25x | as long as short |
| Kraken Futures PF_ZECUSD | +0.0333% | 1h | 1,454.4 | −0.226% | $18.0M | $45.2M | 25x | as long as short |
| Arcus ZEC-USD | +0.0344% | 1h | 1,456.7 | −0.067% | $684K | $8.2M | 10x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0464% | 1h | 1,456.6 | −0.073% | $3.7M | $9.1M | 50x | as long as short |
| Aftermath Perps ZECUSD | +0.0673% | 1h | 1,457 | −0.047% | $45K | $49K | 10x | as long as short |
Katana Perps ZEC-USD
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Aster ZECUSDT
Pacifica ZEC
Binance ZECUSDT
Bybit ZECUSDT
OKX ZEC-USDT-SWAP
Ondo Perps ZEC-USD.P
Bulk ZEC-USD
Gate ZEC_USDT
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDC
Variational Omni ZEC
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
Extended ZEC-USD
Aevo ZEC-PERP
01 Exchange ZECUSD
Hyperliquid ZEC
Backpack ZEC_USDC_PERP
Lighter ZEC
RISEx ZEC/USDC
Deribit ZEC_USDC-PERPETUAL
Kraken Futures PF_ZECUSD
Arcus ZEC-USD
Coinbase International ZEC-PERP-INTX
Aftermath Perps ZECUSD