Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0156%/8h= +17.0% APRpaid last 24h +0.036%

Price spread now: Lighter against Variational Omni−0.182%7-day average +0.102% · 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)+0.181%+$18 on $10k

Price spread, last 7 days+0.273%+$27 · spread now −0.182%, 7d avg +0.102%

Together, before fees+0.453%+ Points / potential airdropVariational Omni: Active · Lighter: Season 3 · farm board+$45 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.284% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.182% now, against its 7-day average of +0.102%). If the spread goes back, that is −$28 on $10k: about 6.1 days of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ZEC	1,471.8	−0.0060	get 0.0060% / 8h	23m 55s	$46.8M	$33.9M	—
Short	Lighter ZEC	1,469.1	0.0096	get 0.0012% / 1h	23m 55s	$19.1M	$52.5M	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

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 Variational OmnibpFee LighterbpOrdersPrice spread, now −0.182%Rate

Funding earned: $32.69
Price spread: −0.182% → +0.102%: −$28.4
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: $4.29
Costs to cover: 0.000%
Break-even: 6.1 days

Slippage unknown: Variational Omni: RFQ quote, just now; Lighter: live order book, 5 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, just now	2.76 bp	doesn't fit	4.5 bp −$45	10.3 bp −$1,027	doesn't fit
Sell Lighter live order book, 5 min ago	0.11 bp	0.8 bp −$1	2.9 bp −$29	10.1 bp −$1,014	61.5 bp −$30.8K

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	−0.3089%	1h	1,472.9	+0.080%	$34K	$275K	12x	as long as short
Ondo Perps ZEC-USD.P	−0.0270%	1h	1,466.3	−0.371%	$399K	$518K	5x	as long as short
Kraken Futures PF_ZECUSD	−0.0225%	1h	1,467.8	−0.272%	$17.9M	$44.4M	25x	as long as short
Bybit ZECUSDT	−0.0116%	8h	1,466.8	−0.339%	$274.1M	$654.0M	75x	as long as short
BloFin ZEC-USDT	−0.0102%	8h	1,470.8	−0.064%	$29.7M	$75.1M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,467.3	−0.301%	$6K	$2K	10x	as long as short
Variational Omni ZEClong	−0.0060%	8h	1,471.8	long leg	$46.8M	$33.9M	—
ApeX Omni ZECUSDT	−0.0006%	1h	1,470.3	−0.102%	$431K	$842K	50x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,467.6	−0.285%	$413K	$104K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,469.7	−0.140%	$956K	$5.6M	2.2x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl ZEC	0.0000%	43m	1,466.5	−0.358%	$83K	$407K	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	0.0000%	1h	1,467.6	−0.280%	$612K	$1.3M	25x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,467.4	−0.299%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0014%	8h	1,466.8	−0.334%	$294K	$1.4M	20x	as long as short
01 Exchange ZECUSD	+0.0016%	1h	1,466.9	−0.333%	$8K	$8K	5x	as long as short
Phoenix ZEC	+0.0024%	1h	1,470.8	−0.067%	$4.6M	$1.6M	10x	as long as short
OKX ZEC-USDT-SWAP	+0.0039%	8h	1,467.1	−0.317%	$180.4M	$1.34B	50x	as long as short
Gate ZEC_USDT	+0.0043%	8h	1,467.5	−0.291%	$50.5M	$186.9M	75x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0054% / S −0.0010%	1h	1,467.1	−0.315%	$371K	—	100x	as long as short
Lighter ZECshort	+0.0096%	1h	1,469.1	−0.182%	$19.1M	$52.5M	20x
Popdex ZECUSDT	+0.0096%	1h	1,466.9	−0.330%	$175K	$1.9M	50x	as long as short
Katana Perps ZEC-USD	+0.0097%	8h	1,466.1	−0.388%	$13K	$834K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,467	−0.326%	$60K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,467.7	−0.276%	$2.6M	$6.8M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,468.6	−0.214%	$761.3M	$472.2M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,467.5	−0.286%	$14.9M	$32.7M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,468.3	−0.234%	$1.7M	$2.9M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,467.5	−0.289%	$682.6M	$2.46B	75x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,468.7	−0.210%	$701K	$8.4M	10x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,469.8	−0.136%	$894K	$39K	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,467.4	−0.297%	$231.5M	$839.8M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,467.3	−0.305%	$103.3M	$56.0M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,467.4	−0.293%	$162.7M	$301.3M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,466.8	−0.336%	—	$6.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,470.6	−0.079%	$513K	$9.2M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,473.2	+0.095%	$3.0M	$454K	10x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,471.9	+0.009%	$110K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,466.9	−0.330%	$342K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,466.8	−0.339%	$127K	$159K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,465.4	−0.430%	$457K	$498K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,469	−0.188%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,467.4	−0.297%	$237K	$4.4M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,466.6	−0.352%	$2.5M	$22.9M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,468.1	−0.250%	$3.8M	$5.3M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,467.6	−0.281%	$3.2M	$7.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,466.5	−0.356%	$37K	$366K	20x	as long as short
RISEx ZEC/USDC	+0.0132%	1h	1,467.5	−0.288%	$823K	$1.2M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0411%	1h	1,468	−0.255%	$2.4M	$3.8M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0432%	1h	1,469.4	−0.161%	$3.8M	$10.6M	50x	as long as short
Lighter RH ZEC	+0.0456%	1h	1,469.9	−0.129%	$2.0M	$8.4M	10x	as long as short
Aftermath Perps ZECUSD	+0.0730%	1h	1,470.7	−0.069%	$45K	$47K	10x	as long as short