Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0170%/8h= +18.6% APRpaid last 24h +0.056%

Price spread now: Bullet against BloFin−0.140%108s7-day average −0.012% · 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—prices read too far apart to compare

costs, in and out, $10k−$260.261% of the position

Long on BloFin Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.179%+$18 on $10k

Price spread, last 4 days (all we have)−0.388%−$39 · spread now −0.140%, 7d avg −0.012%

Together, before fees−0.208%−$21 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bullet is 0.128% cheaper against BloFin than usual: you would sell low and buy high (spread −0.140% now, against its 7-day average of −0.012%). If the spread goes back, that is −$13 on $10k: about 2.5 days of funding at the current rate (+$5 a day). The two prices were read 108 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	BloFin ZEC-USDT	1,456.6	−0.0070	get 0.0070% / 8h	3h 57m	$29.5M	$70.8M	75x
Short	Bullet ZEC-USD	1,454.6	0.0100	get 0.0013% / 1h	57m 20s	$160K	$185K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet 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 BulletbpOrdersPrice spread, now −0.140%Rate

Funding earned: $35.66
Price spread: −0.140% → −0.012%: −$12.82
Slippage, 4 orders: −$6.08
Fee BloFin: 6 bp × 2 orders: −$12
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$3.24
Costs to cover: 0.261%
Break-even: 7.6 days

Slippage from BloFin: live order book, 7 min ago; Bullet: live order book, 62 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	0.07 bp	6.1 bp −$6	7.1 bp −$71	9.4 bp −$943	doesn't fit
Sell Bullet live order book, 62 min ago	1.72 bp	7.2 bp −$7	11.9 bp −$119	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	−0.3042%	1h	1,456.2	−0.032%	$34K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,456.2	−0.025%	$6K	$1K	10x	as long as short
BloFin ZEC-USDTlong	−0.0070%	8h	1,456.6	long leg	$29.5M	$70.8M	75x
dYdX ZEC-USD	0.0000%	1h	1,455.6	−0.068%	$410K	$37K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,455.9	−0.049%	$1.5M	$4.5M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,454.7	−0.128%	$83K	$240K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,454.6	−0.140%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0063%	8h	1,454.5	−0.148%	$291K	$952K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0072% / S −0.0023%	1h	1,454.4	−0.149%	$408K	—	100x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,454.6	−0.137%	$173K	$1.7M	50x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps ZEC-USD	+0.0100%	8h	1,455.1	−0.106%	$10K	$858K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,455.2	−0.096%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,455.1	−0.105%	$2.8M	$6.6M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,454.8	−0.122%	$14.7M	$27.9M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,455.7	−0.062%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,454.6	−0.139%	$668.2M	$2.21B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,453.9	−0.185%	$261.0M	$602.2M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,454.5	−0.143%	$177.8M	$1.22B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,458	+0.095%	$396K	$442K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,457.5	+0.064%	$880K	$18K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,454.5	−0.143%	$50.5M	$169.9M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,454.7	−0.130%	$214.6M	$763.6M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,455	−0.109%	$102.6M	$53.9M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,454.8	−0.123%	$165.4M	$271.0M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,454.7	−0.131%	—	$105.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,457.6	+0.069%	$47.8M	$32.6M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,458.2	+0.112%	$567K	$8.5M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,456.2	−0.030%	$3.0M	$451K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,456.9	+0.017%	$404K	$943K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,455.1	−0.104%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,454.3	−0.159%	$353K	$1.8M	10x	as long as short
Bullet ZEC-USDshort	+0.0100%	1h	1,454.6	−0.140%	$160K	$185K	20x
Derive ZEC-PERP	+0.0100%	1h	1,453.2	−0.232%	$444K	$521K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,456.9	+0.023%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,454.7	−0.130%	$233K	$3.4M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,454.2	−0.165%	$2.7M	$18.4M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,455.7	−0.063%	$3.8M	$5.1M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,454.6	−0.140%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,454.5	−0.144%	$47K	$151K	20x	as long as short
Hyperliquid ZEC	+0.0109%	1h	1,455.9	−0.049%	$757.3M	$431.7M	10x	as long as short
01 Exchange ZECUSD	+0.0112%	1h	1,454.8	−0.123%	$8K	$7K	5x	as long as short
Phoenix ZEC	+0.0123%	1h	1,457.7	+0.073%	$4.6M	$1.3M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0131%	1h	1,455.9	−0.051%	$2.4M	$3.9M	15x	as long as short
Lighter RH ZEC	+0.0208%	1h	1,456.8	+0.013%	$2.1M	$6.9M	10x	as long as short
RISEx ZEC/USDC	+0.0216%	1h	1,454.9	−0.116%	$921K	$1.1M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0229%	1h	1,455.3	−0.093%	$614K	$1.3M	25x	as long as short
Lighter ZEC	+0.0232%	1h	1,456.9	+0.017%	$19.2M	$44.7M	20x	as long as short
Kraken Futures PF_ZECUSD	+0.0333%	1h	1,454.7	−0.131%	$18.0M	$45.2M	25x	as long as short
Arcus ZEC-USD	+0.0344%	1h	1,457	+0.027%	$684K	$8.2M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0464%	1h	1,457.2	+0.038%	$3.7M	$9.1M	50x	as long as short
Aftermath Perps ZECUSD	+0.0674%	1h	1,457.5	+0.059%	$45K	$49K	10x	as long as short