Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0249%/8h= −27.2% APRpaid last 24h +0.041%

Price spread now: Bulk against BloFin−0.162%7-day average −0.025% · you buy dearer than you sell

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−$240.245% of the position

Long on BloFin Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.161%+$16 on $10k

Price spread, last 4 days (all we have)−0.446%−$45 · spread now −0.162%, 7d avg −0.025%

Together, before fees−0.284%−$28 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Bulk is 0.137% cheaper against BloFin than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of −0.025%). Swap the legs. Mind the row above: over the last 4 days funding on this pair paid +0.161%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ZEC-USDT	1,510.6	−0.0163	get 0.0163% / 8h	1m 54s	$31.3M	$76.8M	75x
Short	Bulk ZEC-USD	1,508.1	−0.0412	pay 0.0051% / 1h	1m 54s	$776K	$147K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against BloFin. 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 BloFinbpFee BulkbpOrdersPrice spread, now −0.162%Rate

Funding earned: −$52.22
Price spread: −0.162% → −0.025%: −$13.7
Slippage, 4 orders: −$5.49
Fee BloFin: 6 bp × 2 orders: −$12
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$90.41
Costs to cover: 0.245%
Break-even: never at this rate

Slippage from BloFin: live order book, 7 min ago; Bulk: live order book, 37 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 BloFin live order book, 7 min ago	2.34 bp	8.6 bp −$9	10.5 bp −$105	doesn't fit	doesn't fit
Sell Bulk live order book, 37 min ago	0.03 bp	3.5 bp −$4	3.8 bp −$38	9.2 bp −$924	19.0 bp −$9,514

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	−0.3442%	1h	1,496.3	−0.945%	$36K	$275K	12x	as long as short
Perpl ZEC	−0.0447%	43m	1,512.8	+0.152%	$62K	$306K	10x	as long as short
Bulk ZEC-USDshort	−0.0412%	1h	1,508.1	−0.162%	$776K	$147K	10x
BloFin ZEC-USDTlong	−0.0163%	8h	1,510.6	long leg	$31.3M	$76.8M	75x
Aftermath Perps ZECUSD	−0.0098%	1h	1,510.5	−0.001%	$48K	$59K	10x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,511	+0.026%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,510.3	−0.014%	$420K	$34K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,512	+0.093%	$1.6M	$5.0M	2.2x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,514.3	+0.250%	$5.4M	—	150x	as long as short
Kraken Futures PF_ZECUSD	+0.0011%	1h	1,515.2	+0.307%	$18.3M	$47.9M	25x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ZEC-USD.P	+0.0066%	1h	1,507	−0.235%	$412K	$551K	5x	as long as short
01 Exchange ZECUSD	+0.0072%	1h	1,510.6	0.000%	$8K	$6K	5x	as long as short
Orderly PERP_ZEC_USDC	+0.0083%	8h	1,515	+0.297%	$305K	$863K	20x	as long as short
Phoenix ZEC	+0.0096%	1h	1,511.5	+0.064%	$4.8M	$1.4M	10x	as long as short
Lighter RH ZEC	+0.0096%	1h	1,515.5	+0.329%	$2.1M	$7.7M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,510.3	−0.015%	$176K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0097%	8h	1,510.6	+0.002%	$16K	$897K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,511	+0.032%	$62K	$19K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,510.7	+0.009%	$3.1M	$7.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,512.9	+0.156%	$792.2M	$447.1M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,512.8	+0.147%	$14.2M	$31.1M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,511.5	+0.060%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,513	+0.165%	$715.0M	$2.33B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,512.3	+0.118%	$273.4M	$627.9M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,512.2	+0.106%	$183.1M	$1.38B	50x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,513	+0.164%	$60.0M	$191.4M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,514.2	+0.240%	$246.8M	$830.0M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,514	+0.230%	$103.6M	$57.2M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,512.6	+0.136%	$163.6M	$293.8M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,513.5	+0.195%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,507.8	−0.181%	$49.8M	$35.4M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,511.6	+0.069%	$578K	$9.1M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,510.4	−0.013%	$3.1M	$519K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,511.2	+0.043%	$416K	$948K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,511.2	+0.044%	$54K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,510.3	−0.017%	$376K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,514.4	+0.252%	$169K	$193K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,513.2	+0.174%	$462K	$408K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,516.6	+0.403%	$4K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,514.6	+0.267%	$256K	$3.6M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,514.5	+0.261%	$2.7M	$21.3M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,514.5	+0.263%	$4.1M	$4.9M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,513.6	+0.201%	$2.7M	$7.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,515.1	+0.303%	$43K	$151K	20x	as long as short
RISEx ZEC/USDC	+0.0128%	1h	1,510.5	−0.004%	$958K	$1.1M	10x	as long as short
Lighter ZEC	+0.0128%	1h	1,515.7	+0.341%	$19.7M	$47.1M	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0150% / S −0.0150%	1h	1,514.2	+0.245%	$335K	—	100x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0161%	1h	1,515.4	+0.323%	$692K	$1.4M	25x	as long as short
Arcus ZEC-USD	+0.0403%	1h	1,511.1	+0.038%	$595K	$8.9M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0416%	1h	1,516.5	+0.393%	$3.7M	$9.8M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0492%	1h	1,514.8	+0.284%	$2.4M	$3.8M	15x	as long as short