Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0116%/8h= +12.7% APRpaid last 24h +0.029%

Price spread now: Lighter against OKX+0.152%7-day average +0.074% · you sell dearer than you buy

Net, funding: paid 7d − costs+$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$6as in the Price arb table

costs, in and out, $10k−$140.136% of the position

Long on OKX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.496%+$50 on $10k

Price spread, last 7 days−0.104%−$10 · spread now +0.152%, 7d avg +0.074%

Together, before fees+0.392%+ Points / potential airdropLighter: Season 3 · farm board+$39 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Lighter is 0.077% dearer against OKX than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.074%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ZEC-USDT-SWAP	1,493.9	0.0100	pay 0.0100% / 8h	2h 01m	$181.4M	$1.31B	50x
Short	Lighter ZEC	1,496.2	0.0216	get 0.0027% / 1h	1m 49s	$19.6M	$45.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against OKX. 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 OKXbpFee LighterbpOrdersPrice spread, now +0.152%Rate

Funding earned: $24.36
Price spread: +0.152% → +0.074%: $7.73
Slippage, 4 orders: −$3.63
Fee OKX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: $18.46
Costs to cover: 0.136%
Break-even: 1.7 days

Slippage from OKX: live order book, 2 min ago; Lighter: live order book, 7 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 OKX live order book, 2 min ago	0.03 bp	5.0 bp −$5	7.4 bp −$74	19.8 bp −$1,985	doesn't fit
Sell Lighter live order book, 7 min ago	0.72 bp	0.7 bp −$1	1.8 bp −$18	11.3 bp −$1,127	70.5 bp −$35.2K

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	−0.3243%	1h	1,479.2	−0.988%	$34K	$273K	12x	as long as short
BloFin ZEC-USDT	−0.0117%	8h	1,495.8	+0.126%	$30.7M	$74.0M	75x	as long as short
Bulk ZEC-USD	−0.0102%	1h	1,494.5	+0.041%	$903K	$15K	10x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,495.5	+0.107%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,495.1	+0.077%	$415K	$35K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,495.8	+0.124%	$1.6M	$4.6M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,494.6	+0.045%	$85K	$239K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,495.1	+0.076%	$5.3M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0070%	8h	1,494.6	+0.043%	$300K	$1.1M	20x	as long as short
01 Exchange ZECUSD	+0.0080%	1h	1,495.6	+0.115%	$8K	$7K	5x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix ZEC	+0.0092%	1h	1,500.8	+0.461%	$4.8M	$1.3M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,495.5	+0.105%	$153K	$1.7M	50x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,494.7	+0.056%	$2.8M	$6.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,496.2	+0.153%	$780.0M	$438.5M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,494.4	+0.029%	$14.2M	$29.5M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,494.9	+0.066%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,494.1	+0.011%	$693.9M	$2.28B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,494.1	+0.015%	$274.6M	$621.3M	75x	as long as short
OKX ZEC-USDT-SWAPlong	+0.0100%	8h	1,493.9	long leg	$181.4M	$1.31B	50x
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,495.1	+0.079%	$407K	$480K	5x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,494.3	+0.027%	$54.1M	$182.6M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,494.2	+0.019%	$232.4M	$785.7M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,494.7	+0.053%	$103.0M	$56.1M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,494.7	+0.050%	$161.2M	$285.3M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,494.4	+0.031%	—	$114.0M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,498.3	+0.296%	$49.0M	$33.3M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,496.8	+0.190%	$572K	$8.8M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,498.9	+0.333%	$3.1M	$477K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,495.8	+0.124%	$414K	$930K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,495.2	+0.082%	$57K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,495.2	+0.086%	$362K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,495	+0.072%	$164K	$184K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,493.7	−0.015%	$456K	$500K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,497.1	+0.210%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,494.7	+0.052%	$254K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,493.6	−0.022%	$2.6M	$19.6M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,495	+0.072%	$4.0M	$5.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,494.8	+0.061%	$62K	$43K	10x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,495.2	+0.082%	$12K	$858K	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,494.7	+0.049%	$2.8M	$7.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,494.5	+0.042%	$45K	$149K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0109% / S −0.0086%	1h	1,494.7	+0.051%	$404K	—	100x	as long as short
Kraken Futures PF_ZECUSD	+0.0144%	1h	1,494.8	+0.061%	$18.1M	$46.2M	25x	as long as short
RISEx ZEC/USDC	+0.0154%	1h	1,495.5	+0.105%	$933K	$1.2M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0198%	1h	1,495.4	+0.096%	$711K	$1.4M	25x	as long as short
Lighter ZECshort	+0.0216%	1h	1,496.2	+0.152%	$19.6M	$45.9M	20x
Lighter RH ZEC	+0.0216%	1h	1,496.3	+0.160%	$2.1M	$7.3M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0336%	1h	1,495.5	+0.108%	$2.3M	$3.9M	15x	as long as short
Aftermath Perps ZECUSD	+0.0365%	1h	1,497.3	+0.224%	$50K	$61K	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0496%	1h	1,497	+0.205%	$3.7M	$9.9M	50x	as long as short
Arcus ZEC-USD	+0.0508%	1h	1,496.4	+0.163%	$617K	$8.6M	10x	as long as short