Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0020%/8h= +2.2% APRpaid last 24h +0.023%

Price spread now: Lighter against SunX−0.298%7-day average −0.036% · you buy dearer than you sell

Net, funding: paid 7d − costs−$103as in the Funding arb table

Net, price: spread back to 7d avg − costs−$145as in the Price arb table

costs, in and out, $10k−$1191.193% of the position

Long on SunX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.163%+$16 on $10k

Price spread, last 3 days (all we have)+0.233%+$23 · spread now −0.298%, 7d avg −0.036%

Together, before fees+0.396%+ Points / potential airdropLighter: Season 3 · farm board+$40 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.261% cheaper against SunX than usual: you would sell low and buy high (spread −0.298% now, against its 7-day average of −0.036%). If the spread goes back, that is −$26 on $10k: about 44 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.163% in total) that is about 11 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ZEC-USDT	1,467.7	0.0100	pay 0.0100% / 8h	5h 55m	$3K	$1.2M	20x
Short	Lighter ZEC	1,463.3	0.0120	get 0.0015% / 1h	55m 37s	$19.1M	$45.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against SunX. 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 SunXbpFee LighterbpOrdersPrice spread, now −0.298%Rate

Funding earned: $4.2
Price spread: −0.298% → −0.036%: −$26.15
Slippage, 4 orders: −$111.33
Fee SunX: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$141.28
Costs to cover: 1.193%
Break-even: 242.5 days

Slippage from SunX: live order book, 8 min ago; Lighter: live order book, 8 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 SunX live order book, 8 min ago	29.04 bp	49.8 bp −$50	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 8 min ago	0.77 bp	1.0 bp −$1	2.6 bp −$26	19.9 bp −$1,994	80.6 bp −$40.3K

ZEC on 50 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	−0.3244%	1h	1,469.5	+0.125%	$34K	$272K	12x	as long as short
ApeX Omni ZECUSDT	−0.0430%	1h	1,464	−0.255%	$426K	$879K	50x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,462.7	−0.343%	$6K	$1K	10x	as long as short
Ondo Perps ZEC-USD.P	−0.0076%	1h	1,465.5	−0.149%	$397K	$440K	5x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,462.7	−0.342%	$412K	$47K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,466.9	−0.056%	$970K	$4.7M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,464.8	−0.196%	$84K	$249K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,466.5	−0.084%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0033%	8h	1,465.9	−0.121%	$293K	$983K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0055% / S −0.0009%	1h	1,465.7	−0.138%	$383K	—	100x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange ZECUSD	+0.0064%	1h	1,462.3	−0.365%	$8K	$7K	5x	as long as short
Phoenix ZEC	+0.0070%	1h	1,469.6	+0.131%	$4.6M	$1.4M	10x	as long as short
Variational Omni ZEC	+0.0084%	8h	1,465.1	−0.180%	$47.8M	$32.1M	—	as long as short
OKX ZEC-USDT-SWAP	+0.0096%	8h	1,461.1	−0.449%	$180.1M	$1.23B	50x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,461.5	−0.421%	$173K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,461.6	−0.418%	$19K	$846K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,462	−0.387%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,465.8	−0.132%	$2.5M	$6.5M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,463.4	−0.292%	$762.8M	$435.6M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,461.8	−0.400%	$14.6M	$28.9M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,462.3	−0.370%	$1.7M	$2.6M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,461.5	−0.419%	$675.6M	$2.25B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,460.5	−0.488%	$270.9M	$604.8M	75x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,462.6	−0.350%	$888K	$18K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,461.7	−0.409%	$49.9M	$169.8M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,461.9	−0.398%	$216.2M	$768.4M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,462.2	−0.375%	$102.8M	$55.7M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,461.7	−0.405%	$162.4M	$275.4M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,462	−0.388%	—	$97.3M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,465.3	−0.165%	$570K	$8.9M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,465.9	−0.120%	$3.0M	$430K	10x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,467.9	+0.016%	$71K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,465.2	−0.170%	$343K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,465.5	−0.148%	$127K	$160K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,464.6	−0.213%	$447K	$521K	6.7x	as long as short
SunX ZEC-USDTlong	+0.0100%	8h	1,467.7	long leg	$3K	$1.2M	20x
SoDEX ZEC-USD	+0.0100%	1h	1,466	−0.116%	$242K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,465.7	−0.136%	$2.5M	$18.2M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,464.7	−0.202%	$3.9M	$5.2M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,461.7	−0.411%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,465.8	−0.129%	$48K	$155K	20x	as long as short
Lighter ZECshort	+0.0120%	1h	1,463.3	−0.298%	$19.1M	$45.8M	20x
Lighter RH ZEC	+0.0136%	1h	1,464.2	−0.236%	$2.1M	$6.8M	10x	as long as short
Kraken Futures PF_ZECUSD	+0.0194%	1h	1,465.9	−0.124%	$18.0M	$43.7M	25x	as long as short
Backpack ZEC_USDC_PERP	+0.0211%	1h	1,464.7	−0.204%	$2.4M	$3.8M	15x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0227%	1h	1,466.7	−0.067%	$610K	$1.3M	25x	as long as short
Arcus ZEC-USD	+0.0277%	1h	1,464.6	−0.208%	$701K	$8.5M	10x	as long as short
RISEx ZEC/USDC	+0.0409%	1h	1,462.3	−0.369%	$850K	$1.0M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0456%	1h	1,466.5	−0.079%	$3.7M	$9.0M	50x	as long as short
Aftermath Perps ZECUSD	+0.0733%	1h	1,467.9	+0.017%	$43K	$46K	10x	as long as short