Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0204%/8h= −22.3% APRpaid last 24h −0.010%

Price spread now: HTX against Lighter−0.068%7-day average −0.097% · you buy dearer than you sell

Net, funding: paid 7d − costs−$76as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$180.184% of the position

Long on Lighter Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.578%−$58 on $10k

Price spread, last 4 days (all we have)+0.320%+$32 · spread now −0.068%, 7d avg −0.097%

Together, before fees−0.258%+ Points / potential airdropLighter: Season 3 · farm board−$26 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 0.029% dearer against Lighter than usual: you sell high and buy low (spread −0.068% now, against its 7-day average of −0.097%): +$3 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 11 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ZEC	1,500.8	0.0304	pay 0.0038% / 1h	16m 15s	$19.8M	$46.3M	20x
Short	HTX ZEC-USDT	1,499.8	0.0100	get 0.0100% / 8h	1h 16m	$2.7M	$20.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.068%Rate

Funding earned: −$42.84
Price spread: −0.068% → −0.097%: $2.89
Slippage, 4 orders: −$6.42
Fee Lighter: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$58.36
Costs to cover: 0.184%
Break-even: never at this rate

Slippage from Lighter: live order book, 13 min ago; HTX: live order book, 3 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, 13 min ago	1.09 bp	1.8 bp −$2	2.8 bp −$28	14.0 bp −$1,398	70.5 bp −$35.3K
Sell HTX live order book, 3 min ago	1.00 bp	7.0 bp −$7	16.6 bp −$166	43.3 bp −$4,328	101.6 bp −$50.8K

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	−0.3684%	1h	1,478.1	−1.512%	$36K	$275K	12x	as long as short
Perpl ZEC	−0.0447%	43m	1,498	−0.188%	$61K	$304K	10x	as long as short
BloFin ZEC-USDT	−0.0157%	8h	1,502.3	+0.103%	$30.7M	$75.2M	75x	as long as short
Kraken Futures PF_ZECUSD	−0.0096%	1h	1,499.9	−0.059%	$18.2M	$46.5M	25x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,501.3	+0.032%	$6K	$1K	10x	as long as short
Bulk ZEC-USD	−0.0051%	1h	1,487.2	−0.909%	$898K	$9K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,501.2	+0.026%	$417K	$35K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,502.7	+0.127%	$1.6M	$4.6M	2.2x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,501.3	+0.035%	$5.3M	—	150x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0038%	1h	1,500.1	−0.044%	$685K	$1.4M	25x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps ZECUSD	+0.0055%	1h	1,491.8	−0.599%	$47K	$64K	10x	as long as short
Orderly PERP_ZEC_USDC	+0.0079%	8h	1,499.3	−0.100%	$302K	$1.1M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,498.5	−0.151%	$171K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0098%	8h	1,499	−0.116%	$12K	$878K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,500.2	−0.039%	$3.0M	$7.3M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,498.8	−0.132%	$14.0M	$30.9M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,501	+0.015%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,499.2	−0.108%	$698.5M	$2.31B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,499.1	−0.114%	$268.2M	$633.6M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,499.4	−0.092%	$183.2M	$1.34B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,497.5	−0.219%	$410K	$522K	5x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,499.1	−0.111%	$55.1M	$185.5M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,497.5	−0.220%	$248.2M	$793.3M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,498.8	−0.134%	$103.1M	$57.4M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,499.4	−0.093%	$161.3M	$289.6M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,498.9	−0.124%	—	$116.3M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,485.5	−1.016%	$48.4M	$34.5M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,494.9	−0.392%	$572K	$9.0M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,497.4	−0.226%	$3.1M	$510K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,488.1	−0.844%	$410K	$942K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,500.6	−0.010%	$56K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,498.6	−0.146%	$360K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,498.7	−0.139%	$165K	$184K	20x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,500.9	+0.010%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,499.6	−0.082%	$255K	$3.6M	10x	as long as short
HTX ZEC-USDTshort	+0.0100%	8h	1,499.8	−0.068%	$2.7M	$20.3M	75x
Phemex ZECUSDT	+0.0100%	8h	1,499	−0.121%	$4.0M	$5.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,501.1	+0.020%	$62K	$43K	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,499.7	−0.071%	$2.8M	$8.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,499.2	−0.103%	$43K	$152K	20x	as long as short
01 Exchange ZECUSD	+0.0120%	1h	1,502.2	+0.096%	$8K	$7K	5x	as long as short
RISEx ZEC/USDC	+0.0129%	1h	1,499.2	−0.106%	$938K	$1.1M	10x	as long as short
Phoenix ZEC	+0.0134%	1h	1,501.5	+0.047%	$4.8M	$1.4M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0153% / S −0.0169%	1h	1,499.4	−0.090%	$485K	—	100x	as long as short
Backpack ZEC_USDC_PERP	+0.0197%	1h	1,503.3	+0.169%	$2.4M	$3.9M	15x	as long as short
Hyperliquid ZEC	+0.0206%	1h	1,499.4	−0.092%	$779.8M	$444.1M	10x	as long as short
Arcus ZEC-USD	+0.0221%	1h	1,500	−0.055%	$613K	$8.7M	10x	as long as short
Lighter RH ZEC	+0.0256%	1h	1,500.6	−0.015%	$2.1M	$7.4M	10x	as long as short
Lighter ZEClong	+0.0304%	1h	1,500.8	long leg	$19.8M	$46.3M	20x
Coinbase International ZEC-PERP-INTX	+0.0480%	1h	1,500.9	+0.006%	$3.7M	$10.1M	50x	as long as short