Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0060%/8h= +6.6% APRpaid last 24h +0.033%

Price spread now: Lighter against Binance+0.097%7-day average +0.070% · you sell dearer than you buy

Net, funding: paid 7d − costs+$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$10as in the Price arb table

costs, in and out, $10k−$120.125% of the position

Long on Binance Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.445%+$44 on $10k

Price spread, last 7 days−0.037%−$4 · spread now +0.097%, 7d avg +0.070%

Together, before fees+0.407%+ Points / potential airdropLighter: Season 3 · farm board+$41 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Lighter is 0.027% dearer against Binance than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.070%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ZECUSDT	1,467.7	0.0100	pay 0.0100% / 8h	5h 58m	$678.4M	$2.25B	75x
Short	Lighter ZEC	1,469.1	0.0160	get 0.0020% / 1h	58m 34s	$19.2M	$45.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Binance. 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 BinancebpFee LighterbpOrdersPrice spread, now +0.097%Rate

Funding earned: $12.6
Price spread: +0.097% → +0.070%: $2.67
Slippage, 4 orders: −$2.5
Fee Binance: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: $2.77
Costs to cover: 0.125%
Break-even: 5.5 days

Slippage from Binance: live order book, 16 min ago; Lighter: live order book, 5 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 Binance live order book, 16 min ago	0.03 bp	5.0 bp −$5	7.5 bp −$75	16.5 bp −$1,652	doesn't fit
Sell Lighter live order book, 5 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	1,453.2	−0.987%	$33K	$272K	12x	as long as short
Ondo Perps ZEC-USD.P	−0.0378%	1h	1,466.9	−0.055%	$398K	$441K	5x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,470.3	+0.177%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,467.9	+0.017%	$413K	$48K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,470.5	+0.194%	$972K	$4.7M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,469.2	+0.102%	$84K	$249K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,469.6	+0.127%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0032%	8h	1,469.5	+0.120%	$293K	$984K	20x	as long as short
01 Exchange ZECUSD	+0.0048%	1h	1,467.8	+0.008%	$8K	$8K	5x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0055% / S −0.0009%	1h	1,469.4	+0.119%	$384K	—	100x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix ZEC	+0.0070%	1h	1,469.6	+0.131%	$4.6M	$1.4M	10x	as long as short
Variational Omni ZEC	+0.0079%	8h	1,468.1	+0.028%	$48.0M	$32.4M	—	as long as short
OKX ZEC-USDT-SWAP	+0.0095%	8h	1,467	−0.050%	$181.0M	$1.24B	50x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,467.8	+0.007%	$173K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,467.4	−0.022%	$16K	$845K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,468	+0.017%	$61K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,469.9	+0.150%	$2.6M	$6.5M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,469	+0.089%	$765.2M	$435.0M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,467.7	0.000%	$14.7M	$29.0M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,468	+0.019%	$1.7M	$2.6M	10x	as long as short
Binance ZECUSDTlong	+0.0100%	8h	1,467.7	long leg	$678.4M	$2.25B	75x
Bybit ZECUSDT	+0.0100%	8h	1,467.7	−0.001%	$271.7M	$604.9M	75x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,466.6	−0.076%	$890K	$18K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,467.8	+0.007%	$50.2M	$169.5M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,467.7	−0.001%	$215.9M	$767.7M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,467.9	+0.011%	$103.2M	$55.8M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,467.8	+0.007%	$163.0M	$275.4M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,467.4	−0.020%	—	$6.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,468	+0.023%	$571K	$8.9M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,468.3	+0.044%	$3.0M	$430K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,468.3	+0.043%	$427K	$880K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,469.6	+0.130%	$71K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,469.1	+0.095%	$343K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,469.8	+0.140%	$128K	$160K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,468.1	+0.027%	$448K	$512K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,472.9	+0.352%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,469.6	+0.130%	$242K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,469.7	+0.138%	$2.5M	$18.2M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,469.7	+0.134%	$3.9M	$5.2M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,467.5	−0.011%	$2.8M	$7.6M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,469.7	+0.138%	$48K	$155K	20x	as long as short
Lighter ZECshort	+0.0160%	1h	1,469.1	+0.097%	$19.2M	$45.8M	20x
Kraken Futures PF_ZECUSD	+0.0194%	1h	1,469.8	+0.144%	$18.1M	$43.5M	25x	as long as short
Lighter RH ZEC	+0.0200%	1h	1,469.6	+0.130%	$2.1M	$6.8M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0219%	1h	1,470.4	+0.181%	$612K	$1.3M	25x	as long as short
Arcus ZEC-USD	+0.0277%	1h	1,469.8	+0.142%	$690K	$8.5M	10x	as long as short
RISEx ZEC/USDC	+0.0409%	1h	1,468.3	+0.042%	$852K	$1.0M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0428%	1h	1,469.9	+0.151%	$2.4M	$3.9M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0456%	1h	1,472.1	+0.296%	$3.6M	$9.0M	50x	as long as short
Aftermath Perps ZECUSD	+0.0731%	1h	1,470	+0.157%	$43K	$46K	10x	as long as short