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 +0.005%

Price spread now: Bullet against Bitget+0.100%47s7-day average +0.023% · 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—prices read too far apart to compare

costs, in and out, $10k−$260.263% of the position

Long on Bitget Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.057%+$6 on $10k

Price spread, last 3 days (all we have)+0.778%+$78 · spread now +0.100%, 7d avg +0.023%

Together, before fees+0.836%+$84 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 0.077% dearer against Bitget than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.023%. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ZECUSDT	1,451.2	0.0100	pay 0.0100% / 8h	2h 58m	$163.0M	$317.0M	75x
Short	Bullet ZEC-USD	1,452.7	0.0100	get 0.0013% / 1h	58m 43s	$128K	$161K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against Bitget. 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 BitgetbpFee BulletbpOrdersPrice spread, now +0.100%Rate

Funding earned: $0
Price spread: +0.100% → +0.023%: $7.73
Slippage, 4 orders: −$6.25
Fee Bitget: 6 bp × 2 orders: −$12
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$18.52
Costs to cover: 0.263%
Break-even: never at this rate

Slippage from Bitget: live order book, 5 min ago; Bullet: live order book, 30 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 Bitget live order book, 5 min ago	0.03 bp	7.2 bp −$7	9.9 bp −$99	doesn't fit	doesn't fit
Sell Bullet live order book, 30 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	1,455	+0.262%	$34K	$275K	12x	as long as short
Polymarket Perps ZEC-USD	−0.0349%	1h	1,452.4	+0.081%	$298K	$2.1M	10x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,452.4	+0.079%	$6K	$2K	10x	as long as short
Kraken Futures PF_ZECUSD	−0.0071%	1h	1,452.3	+0.077%	$17.6M	$45.0M	25x	as long as short
BloFin ZEC-USDT	−0.0058%	8h	1,452.6	+0.096%	$29.2M	$76.3M	75x	as long as short
Variational Omni ZEC	−0.0041%	8h	1,455.2	+0.277%	$46.3M	$31.5M	—	as long as short
Ondo Perps ZEC-USD.P	−0.0041%	1h	1,454.2	+0.205%	$395K	$523K	5x	as long as short
Bybit ZECUSDT	−0.0023%	8h	1,451	−0.017%	$269.0M	$679.4M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,453	+0.121%	$409K	$106K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,453.7	+0.170%	$850K	$5.5M	2.2x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl ZEC	0.0000%	43m	1,452	+0.050%	$82K	$400K	10x	as long as short
Orderly PERP_ZEC_USDC	+0.0004%	8h	1,452.7	+0.103%	$291K	$1.5M	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0007%	1h	1,453.3	+0.144%	$569K	$1.3M	25x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,453.1	+0.125%	$5.1M	—	150x	as long as short
OKX ZEC-USDT-SWAP	+0.0031%	8h	1,451.2	−0.003%	$172.6M	$1.37B	50x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0043% / S +0.0060%	1h	1,452.8	+0.107%	$535K	—	100x	as long as short
Phoenix ZEC	+0.0045%	1h	1,455.2	+0.271%	$4.6M	$1.5M	10x	as long as short
Aster ZECUSDT	+0.0047%	8h	1,451.9	+0.049%	$15.0M	$35.1M	75x	as long as short
Gate ZEC_USDT	+0.0052%	8h	1,451.4	+0.010%	$49.2M	$183.7M	75x	as long as short
01 Exchange ZECUSD	+0.0056%	1h	1,451.1	−0.010%	$8K	$8K	5x	as long as short
MEXC ZEC_USDT	+0.0091%	8h	1,451.6	+0.022%	$212.6M	$876.0M	150x	as long as short
Binance ZECUSDT	+0.0093%	8h	1,451.5	+0.019%	$660.5M	$2.56B	75x	as long as short
Katana Perps ZEC-USD	+0.0095%	8h	1,451.3	+0.002%	$17K	$886K	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,452.4	+0.080%	$177K	$2.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,451.5	+0.018%	$60K	$37K	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,452.4	+0.081%	$753.5M	$506.8M	10x	as long as short
Pacifica ZEC	+0.0100%	1h	1,451.9	+0.044%	$1.6M	$3.1M	10x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,454.9	+0.252%	$896K	$37K	10x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,451	−0.015%	$103.7M	$57.2M	75x	as long as short
Bitget ZECUSDTlong	+0.0100%	8h	1,451.2	long leg	$163.0M	$317.0M	75x
BingX ZEC-USDC	+0.0100%	8h	1,450.4	−0.057%	—	$6.8M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,452.9	+0.116%	$2.3M	$4.1M	15x	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,454.7	+0.239%	$488K	$9.9M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,454.8	+0.248%	$3.0M	$512K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,454.2	+0.205%	$712K	$608K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,454.1	+0.201%	$109K	$4.8M	30x	as long as short
Bullet ZEC-USDshort	+0.0100%	1h	1,452.7	+0.100%	$128K	$161K	20x
Derive ZEC-PERP	+0.0100%	1h	1,451.5	+0.018%	$441K	$493K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,456	+0.325%	$3K	$1.3M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,452.7	+0.104%	$220K	$4.7M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,451.8	+0.041%	$2.4M	$25.4M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,452.7	+0.103%	$3.7M	$5.6M	50x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,453.1	+0.129%	$36K	$362K	20x	as long as short
Lighter ZEC	+0.0136%	1h	1,452.7	+0.101%	$18.8M	$53.5M	20x	as long as short
RISEx ZEC/USDC	+0.0219%	1h	1,451.4	+0.012%	$861K	$2.5M	10x	as long as short
Nado ZEC-PERP	+0.0247%	1h	1,453.4	+0.153%	$3.0M	$7.0M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0440%	1h	1,456.3	+0.346%	$3.7M	$11.6M	50x	as long as short
Aftermath Perps ZECUSD	+0.0461%	1h	1,455.4	+0.284%	$39K	$32K	10x	as long as short
Lighter RH ZEC	+0.0464%	1h	1,453.6	+0.166%	$2.0M	$8.3M	10x	as long as short
Extended ZEC-USD	+0.0504%	1h	1,451.5	+0.018%	$3.3M	$7.0M	10x	as long as short
Arcus ZEC-USD	+0.0518%	1h	1,454	+0.194%	$752K	$7.8M	10x	as long as short