Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0254%/8h= +27.8% APRpaid last 24h +0.051%

Price spread now: Lighter against Variational Omni−0.207%7-day average +0.103% · you buy dearer than you sell

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

Long on Variational Omni Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.188%+$19 on $10k

Price spread, last 7 days+0.301%+$30 · spread now −0.207%, 7d avg +0.103%

Together, before fees+0.489%+ Points / potential airdropVariational Omni: Active · Lighter: Season 3 · farm board+$49 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.310% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.207% now, against its 7-day average of +0.103%). If the spread goes back, that is −$31 on $10k: about 4.1 days of funding at the current rate (+$8 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ZEC	1,469.1	−0.0038	get 0.0038% / 8h	7h 17m	$47.6M	$33.7M	—
Short	Lighter ZEC	1,466.1	0.0216	get 0.0027% / 1h	17m 49s	$19.1M	$50.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee LighterbpOrdersPrice spread, now −0.207%Rate

Funding earned: $53.35
Price spread: −0.207% → +0.103%: −$30.96
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: $22.38
Costs to cover: 0.000%
Break-even: 4.1 days

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Lighter: live order book, 6 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 Variational Omni RFQ quote, 1 min ago	2.76 bp	doesn't fit	6.3 bp −$63	16.5 bp −$1,647	doesn't fit
Sell Lighter live order book, 6 min ago	1.00 bp	1.7 bp −$2	2.3 bp −$23	17.8 bp −$1,784	82.1 bp −$41.1K

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	1,470.3	+0.079%	$34K	$275K	12x	as long as short
Kraken Futures PF_ZECUSD	−0.0344%	1h	1,465.8	−0.226%	$17.8M	$43.0M	25x	as long as short
Ondo Perps ZEC-USD.P	−0.0118%	1h	1,467.4	−0.117%	$399K	$517K	5x	as long as short
BloFin ZEC-USDT	−0.0114%	8h	1,464.8	−0.297%	$29.7M	$72.7M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,464.4	−0.320%	$6K	$2K	10x	as long as short
Variational Omni ZEClong	−0.0038%	8h	1,469.1	long leg	$47.6M	$33.7M	—
dYdX ZEC-USD	0.0000%	1h	1,464.7	−0.300%	$412K	$103K	5x	as long as short
01 Exchange ZECUSD	0.0000%	1h	1,464.6	−0.309%	$8K	$9K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,465.7	−0.233%	$955K	$5.2M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,463.9	−0.355%	$83K	$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	1,465.1	−0.274%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0017%	8h	1,465.3	−0.263%	$293K	$1.1M	20x	as long as short
Phoenix ZEC	+0.0054%	1h	1,469.3	+0.015%	$4.6M	$1.6M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0054% / S −0.0010%	1h	1,464.8	−0.293%	$376K	—	100x	as long as short
OKX ZEC-USDT-SWAP	+0.0055%	8h	1,465	−0.279%	$181.1M	$1.29B	50x	as long as short
Bybit ZECUSDT	+0.0075%	8h	1,464.9	−0.288%	$272.9M	$633.3M	75x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,464.1	−0.339%	$172K	$1.9M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,464	−0.345%	$15K	$840K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,464.7	−0.299%	$60K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,465.3	−0.259%	$2.6M	$6.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,466.2	−0.198%	$760.4M	$452.7M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,465.4	−0.253%	$14.9M	$31.7M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,464.9	−0.287%	$1.7M	$2.8M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,465	−0.283%	$681.7M	$2.37B	75x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,466	−0.212%	$704K	$8.5M	10x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,465.9	−0.220%	$892K	$22K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,464.9	−0.284%	$50.6M	$180.4M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,465.2	−0.270%	$227.2M	$828.1M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,465.3	−0.259%	$104.1M	$55.7M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,465.2	−0.269%	$163.0M	$292.1M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,464.6	−0.304%	—	$6.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,468.4	−0.046%	$571K	$9.2M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,468	−0.075%	$3.0M	$447K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,469.5	+0.026%	$430K	$869K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,467.3	−0.121%	$110K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,463.6	−0.375%	$338K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,464.7	−0.301%	$127K	$158K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,463.9	−0.355%	$456K	$509K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,466.9	−0.150%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,465.5	−0.247%	$241K	$3.9M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,464.1	−0.341%	$2.5M	$21.1M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,465.9	−0.217%	$3.8M	$5.3M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,465	−0.281%	$3.2M	$7.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,465.2	−0.268%	$54K	$164K	20x	as long as short
Lighter ZECshort	+0.0216%	1h	1,466.1	−0.207%	$19.1M	$50.5M	20x
RISEx ZEC/USDC	+0.0228%	1h	1,464.7	−0.301%	$850K	$1.1M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0228%	1h	1,466.2	−0.196%	$603K	$1.3M	25x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0448%	1h	1,466.4	−0.183%	$3.7M	$9.6M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0521%	1h	1,466.2	−0.196%	$2.5M	$3.9M	15x	as long as short
Lighter RH ZEC	+0.0752%	1h	1,467.8	−0.087%	$2.0M	$8.3M	10x	as long as short
Aftermath Perps ZECUSD	+0.0764%	1h	1,468	−0.076%	$43K	$46K	10x	as long as short