Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.004%

Price spread now: Bullet against BingX+0.022%7-day average +0.076% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$330.330% of the position

Long on BingX Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.011%+$1 on $10k

Price spread, last 3 days (all we have)+1.810%+$181 · spread now +0.022%, 7d avg +0.076%

Together, before fees+1.821%+$182 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: Bullet is 0.054% cheaper against BingX than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.076%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ZEC-USDC	1,452.2	0.0100	pay 0.0100% / 8h	2h 49m	—	$6.8M	—
Short	Bullet ZEC-USD	1,452.5	0.0100	get 0.0013% / 1h	49m 07s	$126K	$161K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against BingX. 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 BingXbpFee BulletbpOrdersPrice spread, now +0.022%Rate

Funding earned: $0
Price spread: +0.022% → +0.076%: −$5.43
Slippage, 4 orders: −$14.97
Fee BingX: 5 bp × 2 orders: −$10
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$38.41
Costs to cover: 0.330%
Break-even: never at this rate

Slippage from BingX: live order book, 4 min ago; Bullet: live order book, 39 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 BingX live order book, 4 min ago	0.07 bp	9.9 bp −$10	15.3 bp −$153	36.3 bp −$3,629	84.4 bp −$42.2K
Sell Bullet live order book, 39 min ago	0.34 bp	5.8 bp −$6	10.5 bp −$105	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	−0.3476%	1h	1,437.8	−0.990%	$33K	$275K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,454.7	+0.174%	$6K	$2K	10x	as long as short
Kraken Futures PF_ZECUSD	−0.0071%	1h	1,452.8	+0.045%	$17.6M	$44.6M	25x	as long as short
BloFin ZEC-USDT	−0.0066%	8h	1,452.8	+0.045%	$28.9M	$75.5M	75x	as long as short
Variational Omni ZEC	−0.0026%	8h	1,451.7	−0.034%	$45.5M	$32.1M	—	as long as short
Bybit ZECUSDT	−0.0009%	8h	1,452.2	+0.003%	$269.1M	$677.2M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,454.8	+0.182%	$410K	$106K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,454.1	+0.129%	$848K	$5.5M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,453.1	+0.061%	$82K	$401K	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	0.0000%	1h	1,453.5	+0.092%	$566K	$1.3M	25x	as long as short

Show 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	1,452.9	+0.048%	$5.1M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0009%	8h	1,452.9	+0.048%	$291K	$1.5M	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0038% / S +0.0065%	1h	1,452.3	+0.011%	$543K	—	100x	as long as short
OKX ZEC-USDT-SWAP	+0.0039%	8h	1,452.7	+0.037%	$172.2M	$1.36B	50x	as long as short
Aster ZECUSDT	+0.0059%	8h	1,453.3	+0.075%	$15.3M	$35.2M	75x	as long as short
Gate ZEC_USDT	+0.0065%	8h	1,452.7	+0.034%	$49.1M	$185.5M	75x	as long as short
01 Exchange ZECUSD	+0.0072%	1h	1,454.1	+0.130%	$8K	$8K	5x	as long as short
Katana Perps ZEC-USD	+0.0095%	8h	1,453.8	+0.109%	$17K	$886K	10x	as long as short
Lighter ZEC	+0.0096%	1h	1,454.3	+0.143%	$18.7M	$53.9M	20x	as long as short
Ondo Perps ZEC-USD.P	+0.0096%	1h	1,449.8	−0.165%	$394K	$517K	5x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,453.2	+0.072%	$177K	$2.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,453.7	+0.104%	$60K	$37K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,454	+0.125%	$3.0M	$6.8M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,453.1	+0.063%	$751.2M	$493.4M	10x	as long as short
Pacifica ZEC	+0.0100%	1h	1,453.8	+0.111%	$1.6M	$3.1M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,453.2	+0.071%	$658.9M	$2.55B	75x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,455	+0.191%	$896K	$37K	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,452.6	+0.028%	$218.3M	$881.7M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,453	+0.058%	$103.5M	$57.2M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,452.4	+0.015%	$161.8M	$316.4M	75x	as long as short
BingX ZEC-USDClong	+0.0100%	8h	1,452.2	long leg	—	$6.8M	—
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,453.1	+0.063%	$2.3M	$4.1M	15x	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,453.4	+0.083%	$487K	$9.8M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,455.2	+0.205%	$3.0M	$501K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,452.6	+0.031%	$706K	$606K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,452.6	+0.030%	$109K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,452.6	+0.028%	$298K	$2.1M	10x	as long as short
Bullet ZEC-USDshort	+0.0100%	1h	1,452.5	+0.022%	$126K	$161K	20x
Derive ZEC-PERP	+0.0100%	1h	1,451.7	−0.035%	$441K	$493K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,456	+0.260%	$3K	$1.3M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,452.9	+0.052%	$220K	$4.7M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,453	+0.056%	$2.4M	$25.2M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,452.9	+0.050%	$3.7M	$5.4M	50x	as long as short
Phoenix ZEC	+0.0103%	1h	1,452.3	+0.004%	$4.6M	$1.6M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,452.9	+0.052%	$36K	$362K	20x	as long as short
RISEx ZEC/USDC	+0.0219%	1h	1,454.5	+0.160%	$863K	$2.5M	10x	as long as short
Extended ZEC-USD	+0.0272%	1h	1,453.1	+0.061%	$3.3M	$7.0M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0440%	1h	1,454.8	+0.181%	$3.7M	$11.5M	50x	as long as short
Aftermath Perps ZECUSD	+0.0462%	1h	1,453.5	+0.093%	$39K	$32K	10x	as long as short
Arcus ZEC-USD	+0.0518%	1h	1,456.3	+0.284%	$751K	$7.8M	10x	as long as short
Lighter RH ZEC	+0.0728%	1h	1,455.1	+0.202%	$1.9M	$8.4M	10x	as long as short