Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0052%/8h= −5.7% APRpaid last 24h −0.029%

Price spread now: OKX against Lighter−0.136%7-day average −0.074% · you buy dearer than you sell

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$130.134% of the position

Long on Lighter Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.496%−$50 on $10k

Price spread, last 7 days+0.088%+$9 · spread now −0.136%, 7d avg −0.074%

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

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and OKX is 0.062% cheaper against Lighter than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.074%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ZEC	1,468.1	0.0152	pay 0.0019% / 1h	48m 44s	$19.4M	$43.8M	20x
Short	OKX ZEC-USDT-SWAP	1,466.1	0.0100	get 0.0100% / 8h	2h 48m	$178.5M	$1.21B	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.136%Rate

Funding earned: −$10.92
Price spread: −0.136% → −0.074%: −$6.21
Slippage, 4 orders: −$3.39
Fee Lighter: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$30.52
Costs to cover: 0.134%
Break-even: never at this rate

Slippage from Lighter: live order book, 5 min ago; OKX: 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 Lighter live order book, 5 min ago	0.70 bp	1.1 bp −$1	2.9 bp −$29	11.5 bp −$1,148	77.1 bp −$38.6K
Sell OKX live order book, 5 min ago	0.03 bp	6.0 bp −$6	8.5 bp −$85	18.1 bp −$1,814	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	−0.3243%	1h	1,469.3	+0.083%	$34K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,467.6	−0.032%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0069%	8h	1,467.3	−0.052%	$29.8M	$70.9M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,467.7	−0.024%	$408K	$37K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,469.6	+0.101%	$1.5M	$4.4M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,468.1	−0.002%	$84K	$239K	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	0.0000%	1h	1,467.8	−0.023%	$618K	$1.3M	25x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,467.6	−0.035%	$5.2M	—	150x	as long as short
01 Exchange ZECUSD	+0.0032%	1h	1,468.1	+0.001%	$8K	$7K	5x	as long as short
Orderly PERP_ZEC_USDC	+0.0062%	8h	1,467	−0.075%	$293K	$900K	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix ZEC	+0.0092%	1h	1,465.6	−0.171%	$4.7M	$1.3M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0093% / S −0.0046%	1h	1,467.2	−0.060%	$437K	—	100x	as long as short
Lighter RH ZEC	+0.0096%	1h	1,468.7	+0.039%	$2.1M	$7.1M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,468	−0.009%	$174K	$1.6M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,468.6	+0.037%	$12K	$797K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,468.4	+0.019%	$61K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,467.9	−0.011%	$2.9M	$6.4M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,467.7	−0.026%	$764.2M	$418.9M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,466.7	−0.092%	$14.5M	$27.8M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,467.9	−0.013%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,466.5	−0.108%	$676.5M	$2.17B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,465.5	−0.175%	$262.5M	$586.7M	75x	as long as short
OKX ZEC-USDT-SWAPshort	+0.0100%	8h	1,466.1	−0.136%	$178.5M	$1.21B	50x
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,466.2	−0.128%	$398K	$430K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,464.4	−0.250%	$885K	$17K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,466.6	−0.099%	$52.7M	$169.8M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,466.8	−0.089%	$219.1M	$757.8M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,467.1	−0.068%	$103.2M	$52.6M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,467	−0.076%	$166.7M	$267.0M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,466.4	−0.115%	—	$107.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,469.8	+0.117%	$48.2M	$32.4M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,465.8	−0.155%	$572K	$8.5M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,468.6	+0.032%	$3.0M	$453K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,469.8	+0.114%	$406K	$923K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,468.1	0.000%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,467.6	−0.033%	$359K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,467.1	−0.064%	$161K	$186K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,466.2	−0.131%	$448K	$506K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,470	+0.129%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,467	−0.072%	$235K	$3.2M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,466.4	−0.118%	$2.7M	$18.3M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,467.5	−0.042%	$3.9M	$4.7M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,466.9	−0.078%	$2.8M	$7.8M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,467	−0.073%	$47K	$151K	20x	as long as short
Kraken Futures PF_ZECUSD	+0.0147%	1h	1,467.1	−0.067%	$18.0M	$45.6M	25x	as long as short
Lighter ZEClong	+0.0152%	1h	1,468.1	long leg	$19.4M	$43.8M	20x
RISEx ZEC/USDC	+0.0154%	1h	1,468.2	+0.006%	$928K	$1.1M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0301%	1h	1,467.6	−0.036%	$2.4M	$3.7M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0496%	1h	1,470.6	+0.174%	$3.8M	$9.2M	50x	as long as short
Arcus ZEC-USD	+0.0508%	1h	1,469.4	+0.091%	$669K	$8.1M	10x	as long as short
Aftermath Perps ZECUSD	+0.0679%	1h	1,467.7	−0.027%	$45K	$49K	10x	as long as short