Funding arb · Price arb /

ZEC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0232%/8hnext payment −$0.29 per $10,000 · paid last 24h −0.039%

Price spread now: dYdX against Lighter RH−0.180%7-day average −0.070% · you buy dearer than you sell

Net, funding: paid 7d − costs−$101as in the Funding arb table

Net, price: spread back to 7d avg − costs−$106as in the Price arb table

costs, in and out, $10k−$950.946% of the position

Long on Lighter RH Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.060%−$6 on $10k

Price spread, last 3 days (all we have)+0.162%+$16 · spread now −0.180%, 7d avg −0.070%

Together, before fees+0.102%+ Points / potential airdropLighter RH: Points live · farm board+$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and dYdX is 0.110% cheaper against Lighter RH than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.070%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.060% in total (about -3.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.29 per $10,000. 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	1,476.2	0.0232	pay 0.0029% / 1h	3m 54s	$1.8M	$7.7M	10x
Short	dYdX ZEC-USD	1,473.5	0	get 0.0000% / 1h	3m 54s	$415K	$107K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.180%Rate

Funding earned: −$48.72
Price spread: −0.180% → −0.070%: −$11.05
Slippage, 4 orders: −$84.57
Fee Lighter RH: 0 bp × 2 orders: $0
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$154.34
Costs to cover: 0.946%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 4 min ago; dYdX: live order book, 29 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, 4 min ago	1.63 bp	1.8 bp −$2	7.9 bp −$79	doesn't fit	doesn't fit
Sell dYdX live order book, 29 min ago	40.42 bp	45.4 bp −$45	50.5 bp −$505	128.1 bp −$12.8K	142.8 bp −$71.4K

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	−0.3655%	1h	1,460.2	−1.081%	$34K	$159K	12x	as long as short
Kraken Futures PF_ZECUSD	−0.0434%	1h	1,474.2	−0.133%	$18.0M	$46.0M	25x	as long as short
ApeX Omni ZECUSDT	−0.0341%	1h	1,469.7	−0.436%	$958K	$432K	50x	as long as short
Variational Omni ZEC	−0.0137%	8h	1,472.3	−0.258%	$48.2M	$31.0M	—	as long as short
Bybit ZECUSDT	−0.0132%	8h	1,474.2	−0.135%	$275.9M	$716.9M	75x	as long as short
BloFin ZEC-USDT	−0.0085%	8h	1,472.8	−0.227%	$30.1M	$78.8M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,473.3	−0.192%	$6K	$2K	10x	as long as short
Ondo Perps ZEC-USD.P	−0.0062%	1h	1,470.2	−0.403%	$399K	$571K	5x	as long as short
Orderly PERP_ZEC_USDC	−0.0013%	8h	1,474.4	−0.117%	$285K	$1.7M	20x	as long as short
01 Exchange ZECUSD	−0.0008%	1h	1,474	−0.144%	$9K	$10K	5x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ZEC-USDT-SWAP	−0.0002%	8h	1,474.3	−0.123%	$177.2M	$1.45B	50x	as long as short
dYdX ZEC-USDshort	0.0000%	1h	1,473.5	−0.180%	$415K	$107K	5x
Kalshi KXZECPERP	0.0000%	8h	1,473.6	−0.170%	$981K	$5.7M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,473.4	−0.190%	$80K	$435K	10x	as long as short
Aster ZECUSDT	0.0000%	8h	1,474.1	−0.140%	$15.1M	$36.1M	75x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,474.2	−0.135%	$5.2M	—	150x	as long as short
Phoenix ZEC	+0.0012%	1h	1,473.7	−0.163%	$4.7M	$1.7M	10x	as long as short
Gate ZEC_USDT	+0.0012%	8h	1,474.4	−0.116%	$51.2M	$197.0M	75x	as long as short
MEXC ZEC_USDT	+0.0035%	8h	1,474.5	−0.109%	$228.8M	$980.0M	150x	as long as short
Binance ZECUSDT	+0.0037%	8h	1,474.5	−0.111%	$675.5M	$2.66B	75x	as long as short
Polymarket Perps ZEC-USD	+0.0063%	1h	1,472.8	−0.227%	$322K	$2.5M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0070% / S +0.0044%	1h	1,473.7	−0.165%	$578K	—	100x	as long as short
Aevo ZEC-PERP	+0.0088%	1h	1,474.2	−0.130%	$37K	$362K	20x	as long as short
Katana Perps ZEC-USD	+0.0091%	8h	1,473.1	−0.207%	$12K	$889K	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,473.3	−0.194%	$176K	$2.1M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0099%	8h	1,474.2	−0.130%	$61K	$37K	10x	as long as short
RISEx ZEC/USDC	+0.0100%	1h	1,473.9	−0.154%	$855K	$2.6M	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,473.6	−0.175%	$3.1M	$7.3M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,475	−0.078%	$769.4M	$559.0M	10x	as long as short
Pacifica ZEC	+0.0100%	1h	1,474.1	−0.142%	$1.6M	$3.3M	10x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,475.5	−0.042%	$728K	$7.4M	10x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,476.1	−0.005%	$909K	$21K	10x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,473.7	−0.167%	$103.7M	$62.3M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,474.3	−0.125%	$170.9M	$330.6M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,473.5	−0.179%	—	$6.8M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,475.1	−0.074%	$2.4M	$3.8M	15x	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,473.3	−0.190%	$494K	$10.4M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,473.2	−0.199%	$3.0M	$510K	10x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,473.6	−0.171%	$110K	$4.8M	30x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,473.4	−0.183%	$128K	$162K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,472.7	−0.234%	$448K	$493K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,477.3	+0.077%	$3K	$1.3M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,474.4	−0.119%	$224K	$5.1M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,474.3	−0.125%	$2.4M	$28.3M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,474.7	−0.102%	$3.8M	$6.0M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,474.5	−0.111%	$3.2M	$4.6M	10x	as long as short
Lighter ZEC	+0.0112%	1h	1,475.9	−0.016%	$19.5M	$59.4M	20x	as long as short
Lighter RH ZEClong	+0.0232%	1h	1,476.2	long leg	$1.8M	$7.7M	10x
Deribit ZEC_USDC-PERPETUAL	+0.0239%	1h	1,475.3	−0.057%	$577K	$1.3M	25x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0384%	1h	1,475.3	−0.060%	$3.8M	$12.5M	50x	as long as short
Aftermath Perps ZECUSD	+0.0513%	1h	1,474	−0.147%	$39K	$33K	10x	as long as short