Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.023%

Price spread now: Binance against Lighter−0.044%7-day average −0.071% · you buy dearer than you sell

Net, funding: paid 7d − costs−$58as in the Funding arb table

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

costs, in and out, $10k−$130.127% of the position

Long on Lighter Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.450%−$45 on $10k

Price spread, last 7 days−0.017%−$2 · spread now −0.044%, 7d avg −0.071%

Together, before fees−0.467%+ Points / potential airdropLighter: Season 3 · farm board−$47 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Binance is 0.026% dearer against Lighter than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.071%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ZEC	1,497.3	0.0096	pay 0.0012% / 1h	58m 12s	$19.6M	$40.2M	20x
Short	Binance ZECUSDT	1,496.6	0.0100	get 0.0100% / 8h	6h 58m	$706.3M	$2.27B	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Lighter. 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 LighterbpFee BinancebpOrdersPrice spread, now −0.044%Rate

Funding earned: $0.84
Price spread: −0.044% → −0.071%: $2.62
Slippage, 4 orders: −$2.72
Fee Lighter: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: −$9.26
Costs to cover: 0.127%
Break-even: 84.1 days

Slippage from Lighter: live order book, 6 min ago; Binance: live order book, 16 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 live order book, 6 min ago	0.62 bp	1.2 bp −$1	3.4 bp −$34	15.5 bp −$1,546	74.7 bp −$37.3K
Sell Binance live order book, 16 min ago	0.03 bp	5.3 bp −$5	7.2 bp −$72	15.0 bp −$1,502	doesn't fit

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	−0.3772%	1h	1,478.9	−1.227%	$36K	$274K	12x	as long as short
Perpl ZEC	−0.0447%	43m	1,495.7	−0.104%	$61K	$306K	10x	as long as short
Aftermath Perps ZECUSD	−0.0235%	1h	1,498.3	+0.065%	$46K	$60K	10x	as long as short
BloFin ZEC-USDT	−0.0180%	8h	1,497	−0.023%	$31.5M	$75.5M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,497.2	−0.008%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,496.5	−0.053%	$413K	$34K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,497.9	+0.037%	$1.5M	$5.0M	2.2x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,498	+0.046%	$5.3M	—	150x	as long as short
01 Exchange ZECUSD	+0.0008%	1h	1,496.5	−0.053%	$8K	$6K	5x	as long as short
Kraken Futures PF_ZECUSD	+0.0009%	1h	1,496.7	−0.041%	$18.3M	$47.4M	25x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ZEC-USD.P	+0.0070%	1h	1,495.1	−0.147%	$407K	$529K	5x	as long as short
RISEx ZEC/USDC	+0.0077%	1h	1,496.3	−0.065%	$986K	$1.2M	10x	as long as short
Phoenix ZEC	+0.0082%	1h	1,499.6	+0.151%	$4.8M	$1.3M	10x	as long as short
Orderly PERP_ZEC_USDC	+0.0083%	8h	1,496.3	−0.066%	$302K	$860K	20x	as long as short
Lighter ZEClong	+0.0096%	1h	1,497.3	long leg	$19.6M	$40.2M	20x
Lighter RH ZEC	+0.0096%	1h	1,497.7	+0.026%	$2.1M	$7.1M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,496.3	−0.070%	$176K	$1.8M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0099%	8h	1,496.2	−0.072%	$62K	$16K	10x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,496.4	−0.059%	$15K	$883K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,496.7	−0.041%	$3.1M	$7.5M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,497.2	−0.007%	$784.8M	$445.5M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,495.5	−0.121%	$14.0M	$29.2M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,496.9	−0.026%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDTshort	+0.0100%	8h	1,496.6	−0.044%	$706.3M	$2.27B	75x
Bybit ZECUSDT	+0.0100%	8h	1,495.7	−0.110%	$272.8M	$605.0M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,496.2	−0.071%	$185.7M	$1.34B	50x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,497.6	+0.023%	$607K	$8.7M	10x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,501.6	+0.284%	$772K	$147K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,495.9	−0.096%	$60.4M	$180.0M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,496.1	−0.083%	$406.0M	$804.2M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,495.9	−0.092%	$102.5M	$55.2M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,496.4	−0.063%	$162.9M	$290.8M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,496	−0.085%	—	$119.5M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,497.4	+0.008%	$2.3M	$3.7M	15x	as long as short
Variational Omni ZEC	+0.0100%	8h	1,497	−0.018%	$49.5M	$35.3M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,498.7	+0.090%	$549K	$9.2M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,498.7	+0.095%	$3.1M	$562K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,498.3	+0.066%	$411K	$955K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,497.3	−0.003%	$50K	$4.5M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,496.2	−0.074%	$371K	$1.6M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,496.2	−0.072%	$167K	$190K	20x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,498.4	+0.073%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,496	−0.086%	$256K	$3.6M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,496.8	−0.036%	$2.7M	$20.7M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,497.2	−0.010%	$4.0M	$4.8M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,496.4	−0.063%	$2.7M	$7.6M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,496.3	−0.066%	$43K	$157K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0167% / S −0.0166%	1h	1,498.9	+0.107%	$341K	—	100x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0257%	1h	1,497.2	−0.004%	$685K	$1.3M	25x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0336%	1h	1,498	+0.046%	$3.9M	$9.8M	50x	as long as short