Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.018%

Price spread now: Bybit against Bulk+0.282%55s7-day average +0.009% · 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−$210.210% of the position

Long on Bulk Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.004%$0 on $10k

Price spread, last 4 days (all we have)−0.240%−$24 · spread now +0.282%, 7d avg +0.009%

Together, before fees−0.236%−$24 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: Bybit is 0.273% dearer against Bulk than usual: you sell high and buy low, +$27 on $10k if it goes back to its 7-day average of +0.009%. The two prices were read 55 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	Bulk ZEC-USD	1,470.5	0.0100	pay 0.0013% / 1h	32m 42s	$893K	$19K	10x
Short	Bybit ZECUSDT	1,474.6	0.0100	get 0.0100% / 8h	6h 32m	$272.1M	$626.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Bulk. 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 BulkbpFee BybitbpOrdersPrice spread, now +0.282%Rate

Funding earned: $0
Price spread: +0.282% → +0.009%: $27.29
Slippage, 4 orders: −$3.04
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $6.25
Costs to cover: 0.210%
Break-even: from the start

Slippage from Bulk: live order book, 36 min ago; Bybit: live order book, 1 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 Bulk live order book, 36 min ago	0.03 bp	3.5 bp −$4	3.6 bp −$36	9.0 bp −$901	17.2 bp −$8,589
Sell Bybit live order book, 1 min ago	0.03 bp	8.2 bp −$8	9.7 bp −$97	17.7 bp −$1,766	35.2 bp −$17.6K

ZEC on 50 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	−0.3678%	1h	1,471.7	+0.085%	$34K	$274K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,472.1	+0.110%	$6K	$1K	10x	as long as short
Ondo Perps ZEC-USD.P	−0.0018%	1h	1,471.7	+0.083%	$399K	$518K	5x	as long as short
Kraken Futures PF_ZECUSD	−0.0002%	1h	1,472.6	+0.142%	$18.0M	$43.6M	25x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,473.7	+0.215%	$415K	$56K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,471.6	+0.076%	$974K	$5.0M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,472	+0.102%	$84K	$258K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,472.3	+0.124%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0027%	8h	1,472.4	+0.132%	$294K	$1.1M	20x	as long as short
Variational Omni ZEC	+0.0033%	8h	1,470.4	−0.004%	$47.9M	$33.3M	—	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX ZEC/USD [WBTC.b-USDC]	L +0.0055% / S −0.0009%	1h	1,472.4	+0.128%	$385K	—	100x	as long as short
01 Exchange ZECUSD	+0.0056%	1h	1,472.4	+0.132%	$8K	$9K	5x	as long as short
Phoenix ZEC	+0.0070%	1h	1,471.2	+0.049%	$4.7M	$1.5M	10x	as long as short
OKX ZEC-USDT-SWAP	+0.0093%	8h	1,474.8	+0.295%	$181.4M	$1.28B	50x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,471.6	+0.075%	$173K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,471.3	+0.058%	$16K	$839K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,474.7	+0.284%	$61K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,472	+0.100%	$2.6M	$6.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,474.9	+0.300%	$767.3M	$444.0M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,472.9	+0.164%	$14.9M	$31.0M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,475	+0.308%	$1.7M	$2.7M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,474.7	+0.290%	$681.2M	$2.35B	75x	as long as short
Bybit ZECUSDTshort	+0.0100%	8h	1,474.6	+0.282%	$272.1M	$626.9M	75x
Bulk ZEC-USDlong	+0.0100%	1h	1,470.5	long leg	$893K	$19K	10x
Gate ZEC_USDT	+0.0100%	8h	1,473.2	+0.185%	$50.0M	$175.3M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,475	+0.308%	$217.4M	$797.5M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,474.2	+0.250%	$103.7M	$56.2M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,475	+0.305%	$163.7M	$285.0M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,472.9	+0.166%	—	$100.5M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,471.3	+0.052%	$572K	$9.1M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,472.9	+0.165%	$3.0M	$443K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,471.9	+0.094%	$428K	$907K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,471.9	+0.093%	$71K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,472.1	+0.110%	$339K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,472.4	+0.130%	$128K	$159K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,471	+0.034%	$458K	$510K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,474	+0.240%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,472.5	+0.136%	$243K	$3.8M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,472.4	+0.131%	$2.5M	$19.1M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,472.6	+0.144%	$3.9M	$5.4M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,472.5	+0.134%	$3.1M	$7.1M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,472.1	+0.110%	$48K	$167K	20x	as long as short
Arcus ZEC-USD	+0.0254%	1h	1,475.7	+0.354%	$689K	$8.7M	10x	as long as short
Lighter ZEC	+0.0264%	1h	1,476.2	+0.391%	$19.2M	$48.1M	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0287%	1h	1,473.2	+0.186%	$606K	$1.3M	25x	as long as short
Lighter RH ZEC	+0.0296%	1h	1,475.2	+0.323%	$2.1M	$7.1M	10x	as long as short
RISEx ZEC/USDC	+0.0374%	1h	1,472.4	+0.131%	$864K	$1.0M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0472%	1h	1,473.8	+0.225%	$3.6M	$9.7M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0508%	1h	1,472.8	+0.156%	$2.5M	$3.9M	15x	as long as short
Aftermath Perps ZECUSD	+0.0726%	1h	1,471.9	+0.093%	$44K	$46K	10x	as long as short