Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0427%/8h= +46.8% APRpaid last 24h +0.072%

Price spread now: Lighter against BloFin+0.039%60s7-day average +0.067% · you sell dearer than you buy

Net, funding: paid 7d − costs+$48as 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−$140.143% of the position

Long on BloFin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.625%+$62 on $10k

Price spread, last 4 days (all we have)−0.323%−$32 · spread now +0.039%, 7d avg +0.067%

Together, before fees+0.301%+ Points / potential airdropLighter: Season 3 · farm board+$30 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.029% cheaper against BloFin than usual: you would sell low and buy high (spread +0.039% now, against its 7-day average of +0.067%). If the spread goes back, that is −$3 on $10k: about 5 hours of funding at the current rate (+$13 a day). The two prices were read 60 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	BloFin ZEC-USDT	1,477	−0.0123	get 0.0123% / 8h	1h 27m	$30.5M	$73.8M	75x
Short	Lighter ZEC	1,477.6	0.0304	get 0.0038% / 1h	27m 51s	$19.4M	$45.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against BloFin. 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 BloFinbpFee LighterbpOrdersPrice spread, now +0.039%Rate

Funding earned: $89.72
Price spread: +0.039% → +0.067%: −$2.86
Slippage, 4 orders: −$2.34
Fee BloFin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: $72.52
Costs to cover: 0.143%
Break-even: 1.3 days

Slippage from BloFin: live order book, 6 min ago; Lighter: live order book, 11 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 BloFin live order book, 6 min ago	0.03 bp	6.0 bp −$6	6.0 bp −$60	8.8 bp −$877	doesn't fit
Sell Lighter live order book, 11 min ago	1.13 bp	1.1 bp −$1	2.6 bp −$26	17.6 bp −$1,761	75.5 bp −$37.7K

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	−0.3684%	1h	1,462	−1.016%	$36K	$275K	12x	as long as short
Bulk ZEC-USD	−0.0166%	1h	1,477.1	+0.004%	$892K	$9K	10x	as long as short
BloFin ZEC-USDTlong	−0.0123%	8h	1,477	long leg	$30.5M	$73.8M	75x
Kraken Futures PF_ZECUSD	−0.0097%	1h	1,475.9	−0.075%	$17.9M	$47.0M	25x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,476.2	−0.056%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,477.7	+0.044%	$411K	$35K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,478.2	+0.080%	$1.5M	$4.6M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,475.1	−0.129%	$63K	$303K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,475.6	−0.099%	$5.2M	—	150x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0049%	1h	1,476.2	−0.056%	$674K	$1.4M	25x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_ZEC_USDC	+0.0077%	8h	1,475.3	−0.120%	$297K	$1.1M	20x	as long as short
Aftermath Perps ZECUSD	+0.0093%	1h	1,477.2	+0.013%	$47K	$64K	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,475.7	−0.094%	$165K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0098%	8h	1,475.4	−0.109%	$10K	$871K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,475.9	−0.079%	$2.7M	$7.0M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,476	−0.068%	$13.8M	$30.9M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,475.8	−0.084%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,476.7	−0.020%	$687.5M	$2.30B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,476.1	−0.064%	$263.5M	$632.7M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,476.8	−0.014%	$178.8M	$1.31B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,475.2	−0.125%	$403K	$508K	5x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,476.6	−0.030%	$54.2M	$183.0M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,476.7	−0.021%	$240.7M	$784.8M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,476.6	−0.030%	$100.9M	$57.6M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,476.8	−0.014%	$158.9M	$288.7M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,477.2	+0.010%	—	$6.7M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,476.9	−0.013%	$2.3M	$3.9M	15x	as long as short
Variational Omni ZEC	+0.0100%	8h	1,477.6	+0.039%	$48.1M	$34.4M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,477.2	+0.008%	$565K	$8.9M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,478.3	+0.089%	$3.0M	$498K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,476.9	−0.011%	$406K	$935K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,478	+0.065%	$56K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,475.1	−0.131%	$355K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,476	−0.069%	$162K	$184K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,473.4	−0.247%	$450K	$500K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,477.8	+0.049%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,475.7	−0.090%	$251K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,475.3	−0.118%	$2.6M	$19.7M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,476.6	−0.032%	$3.9M	$5.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,475.6	−0.095%	$61K	$43K	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,476.3	−0.047%	$2.7M	$8.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,475.3	−0.120%	$42K	$152K	20x	as long as short
RISEx ZEC/USDC	+0.0129%	1h	1,475.7	−0.091%	$924K	$1.1M	10x	as long as short
Phoenix ZEC	+0.0134%	1h	1,478.9	+0.124%	$4.7M	$1.4M	10x	as long as short
01 Exchange ZECUSD	+0.0136%	1h	1,476.2	−0.057%	$8K	$7K	5x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0144% / S −0.0152%	1h	1,476.2	−0.060%	$478K	—	100x	as long as short
Arcus ZEC-USD	+0.0221%	1h	1,477.7	+0.045%	$634K	$8.6M	10x	as long as short
Lighter RH ZEC	+0.0248%	1h	1,477.4	+0.027%	$2.1M	$7.4M	10x	as long as short
Hyperliquid ZEC	+0.0252%	1h	1,477.8	+0.051%	$766.8M	$442.3M	10x	as long as short
Lighter ZECshort	+0.0304%	1h	1,477.6	+0.039%	$19.4M	$45.8M	20x
Coinbase International ZEC-PERP-INTX	+0.0480%	1h	1,476.9	−0.007%	$3.6M	$9.9M	50x	as long as short