Funding you earn now, next payment 01:00 UTC−0.0010%/8h= −1.0% APRnext payment −$0.01 per $10,000 · paid last 24h −0.041%
Price spread now: Deribit against Lighter−0.119%7-day average +0.003% · you buy dearer than you sell
Net, funding: paid 7d − costs−$51as in the Funding arb table
Net, price: spread back to 7d avg − costs−$31as in the Price arb table
costs, in and out, $10k−$190.190% of the position
Funding, last 7 days−0.324%−$32 on $10k
+Price spread, last 3 days (all we have)+0.520%+$52 · spread now −0.119%, 7d avg +0.003%
=Together, before fees+0.197%+ Points / potential airdropLighter: Season 3 · farm board+$20 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Deribit is 0.122% cheaper against Lighter than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of +0.003%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter ZEC | 1,473.1 | 0.0200 | pay 0.0025% / 1h | 29m 50s | $19.2M | $50.4M | 20x |
| Short | Deribit ZEC_USDC-PERPETUAL | 1,471.3 | 0.0190 | get 0.0024% / 1h | 29m 50s | $605K | $1.3M | 25x |
Lighter ZEC
Deribit ZEC_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Lighter. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$2
- Price spread: −0.119% → +0.003%
- −$12.2
- Slippage, 4 orders
- −$12.01
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$33.21
- Costs to cover
- 0.190%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 4 min ago; Deribit: live order book, 4 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, 4 min ago | 0.98 bp | 1.5 bp −$2 | 2.4 bp −$24 | 9.5 bp −$951 | 67.5 bp −$33.8K |
| Sell Deribit live order book, 4 min ago | 3.78 bp | 7.3 bp −$7 | 13.6 bp −$136 | doesn't fit | doesn't fit |
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 | −0.3321% | 1h | 1,472.2 | −0.061% | $34K | $275K | 12x | as long as short |
| Kraken Futures PF_ZECUSD | −0.0342% | 1h | 1,471.7 | −0.096% | $17.9M | $42.9M | 25x | as long as short |
| Ondo Perps ZEC-USD.P | −0.0119% | 1h | 1,467.9 | −0.352% | $399K | $518K | 5x | as long as short |
| BloFin ZEC-USDT | −0.0102% | 8h | 1,469.7 | −0.231% | $29.7M | $73.1M | 75x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,470.3 | −0.190% | $6K | $2K | 10x | as long as short |
| Bybit ZECUSDT | −0.0062% | 8h | 1,471.6 | −0.102% | $274.4M | $634.2M | 75x | as long as short |
| Variational Omni ZEC | −0.0053% | 8h | 1,469 | −0.274% | $47.6M | $33.8M | — | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,469.9 | −0.216% | $414K | $103K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,470.7 | −0.161% | $959K | $5.2M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,469.7 | −0.229% | $83K | $405K | 10x | as long as short |
Injective ZEC/USDC PERP
Kraken Futures PF_ZECUSD
Ondo Perps ZEC-USD.P
BloFin ZEC-USDT
Hotstuff ZEC-PERP
Bybit ZECUSDT
Variational Omni ZEC
dYdX ZEC-USD
Kalshi KXZECPERP
Perpl ZECShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,470.3 | −0.188% | $5.2M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0015% | 8h | 1,470.7 | −0.160% | $294K | $1.3M | 20x | as long as short |
| 01 Exchange ZECUSD | +0.0024% | 1h | 1,470.3 | −0.192% | $8K | $8K | 5x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0049% | 8h | 1,471.7 | −0.094% | $182.0M | $1.30B | 50x | as long as short |
| Phoenix ZEC | +0.0054% | 1h | 1,470.8 | −0.155% | $4.7M | $1.6M | 10x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0055% / S −0.0010% | 1h | 1,470.3 | −0.187% | $378K | — | 100x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,469.8 | −0.220% | $179K | $1.8M | 50x | as long as short |
| Katana Perps ZEC-USD | +0.0100% | 8h | 1,470.1 | −0.206% | $14K | $832K | 10x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,470.2 | −0.193% | $60K | $39K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,470.6 | −0.171% | $2.6M | $6.6M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,473 | −0.005% | $763.9M | $455.1M | 10x | as long as short |
| Aster ZECUSDT | +0.0100% | 8h | 1,472 | −0.072% | $14.9M | $31.8M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,470.5 | −0.174% | $1.7M | $2.8M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,472 | −0.075% | $685.4M | $2.38B | 75x | as long as short |
| Arcus ZEC-USD | +0.0100% | 1h | 1,471.6 | −0.100% | $699K | $8.5M | 10x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,471 | −0.142% | $895K | $25K | 10x | as long as short |
| Gate ZEC_USDT | +0.0100% | 8h | 1,471.9 | −0.079% | $51.3M | $179.2M | 75x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,471.9 | −0.081% | $231.5M | $825.7M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,471.5 | −0.106% | $104.9M | $55.7M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,472.1 | −0.067% | $163.8M | $292.9M | 75x | as long as short |
| BingX ZEC-USDT | +0.0100% | 8h | 1,471.4 | −0.113% | — | $100.3M | — | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,468.4 | −0.316% | $571K | $9.2M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,468.3 | −0.324% | $3.0M | $466K | 10x | as long as short |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,469.9 | −0.217% | $430K | $866K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,470.6 | −0.168% | $110K | $4.7M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,470 | −0.209% | $340K | $1.7M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,470.3 | −0.188% | $128K | $159K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,468.9 | −0.284% | $458K | $509K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,472.4 | −0.049% | $3K | $1.2M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,471.3 | −0.124% | $242K | $3.9M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,470.6 | −0.170% | $2.5M | $21.3M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,472 | −0.071% | $3.9M | $5.3M | 50x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,471.9 | −0.079% | $3.2M | $7.0M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,470.4 | −0.185% | $56K | $167K | 20x | as long as short |
| Deribit ZEC_USDC-PERPETUALshort | +0.0190% | 1h | 1,471.3 | −0.119% | $605K | $1.3M | 25x | |
| Lighter ZEClong | +0.0200% | 1h | 1,473.1 | long leg | $19.2M | $50.4M | 20x | |
| RISEx ZEC/USDC | +0.0228% | 1h | 1,470.8 | −0.157% | $852K | $1.1M | 10x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0448% | 1h | 1,473 | −0.009% | $3.8M | $10.1M | 50x | as long as short |
| Backpack ZEC_USDC_PERP | +0.0527% | 1h | 1,472.4 | −0.044% | $2.5M | $3.8M | 15x | as long as short |
| Aftermath Perps ZECUSD | +0.0772% | 1h | 1,471.3 | −0.118% | $44K | $47K | 10x | as long as short |
| Lighter RH ZEC | +0.0800% | 1h | 1,474 | +0.063% | $2.0M | $8.1M | 10x | as long as short |
gTrade (Gains Network) ZEC/USD
Orderly PERP_ZEC_USDC
01 Exchange ZECUSD
OKX ZEC-USDT-SWAP
Phoenix ZEC
GMX ZEC/USD [WBTC.b-USDC]
Popdex ZECUSDT
Katana Perps ZEC-USD
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Hyperliquid ZEC
Aster ZECUSDT
Pacifica ZEC
Binance ZECUSDT
Arcus ZEC-USD
Bulk ZEC-USD
Gate ZEC_USDT
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDT
edgeX ZECUSDC
GRVT ZEC_USDT_Perp
ApeX Omni ZECUSDT
StandX ZEC-USD
Polymarket Perps ZEC-USD
Bullet ZEC-USD
Derive ZEC-PERP
SunX ZEC-USDT
SoDEX ZEC-USD
HTX ZEC-USDT
Phemex ZECUSDT
Extended ZEC-USD
Aevo ZEC-PERP
RISEx ZEC/USDC
Coinbase International ZEC-PERP-INTX
Backpack ZEC_USDC_PERP
Aftermath Perps ZECUSD
Lighter RH ZEC