Funding arb · Price arb /

ZEC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.027%

Price spread now: edgeX against Bulk−0.107%56s7-day average −0.037% · 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−$190.186% of the position

Long on Bulk Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.052%+$5 on $10k

Price spread, last 4 days (all we have)+0.346%+$35 · spread now −0.107%, 7d avg −0.037%

Together, before fees+0.398%+ Points / potential airdropedgeX: Active · farm board+$40 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: edgeX is 0.070% cheaper against Bulk than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.037%. The two prices were read 56 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	1,455	0.0100	pay 0.0013% / 1h	47m 52s	$896K	$37K	10x
Short	edgeX ZECUSDC	1,453.4	0.0100	get 0.0050% / 4h	2h 47m	$487K	$9.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.107%Rate

Funding earned: $0
Price spread: −0.107% → −0.037%: −$7
Slippage, 4 orders: −$2.6
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$25.6
Costs to cover: 0.186%
Break-even: never at this rate

Slippage from Bulk: live order book, 41 min ago; edgeX: 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, 41 min ago	0.07 bp	3.6 bp −$4	3.6 bp −$36	3.6 bp −$357	6.5 bp −$3,255
Sell edgeX live order book, 1 min ago	1.17 bp	5.8 bp −$6	8.9 bp −$89	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	−1.179%	$33K	$275K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,454.1	−0.062%	$6K	$2K	10x	as long as short
Kraken Futures PF_ZECUSD	−0.0071%	1h	1,455	+0.003%	$17.7M	$44.5M	25x	as long as short
BloFin ZEC-USDT	−0.0066%	8h	1,452.8	−0.146%	$28.9M	$75.5M	75x	as long as short
Variational Omni ZEC	−0.0026%	8h	1,451.7	−0.224%	$45.5M	$32.1M	—	as long as short
Bybit ZECUSDT	−0.0008%	8h	1,454.1	−0.063%	$269.4M	$677.5M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,453.3	−0.114%	$409K	$106K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,455.7	+0.052%	$849K	$5.5M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,453.8	−0.082%	$83K	$401K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,454.9	−0.005%	$5.2M	—	150x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_ZEC_USDC	+0.0009%	8h	1,454.9	−0.007%	$292K	$1.5M	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0038% / S +0.0066%	1h	1,454.5	−0.032%	$544K	—	100x	as long as short
OKX ZEC-USDT-SWAP	+0.0040%	8h	1,454.8	−0.013%	$172.4M	$1.36B	50x	as long as short
Aster ZECUSDT	+0.0059%	8h	1,454.8	−0.009%	$15.3M	$35.2M	75x	as long as short
Gate ZEC_USDT	+0.0066%	8h	1,454.5	−0.033%	$49.1M	$185.6M	75x	as long as short
01 Exchange ZECUSD	+0.0072%	1h	1,454.6	−0.022%	$8K	$8K	5x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0089%	1h	1,456	+0.069%	$567K	$1.3M	25x	as long as short
Ondo Perps ZEC-USD.P	+0.0093%	1h	1,452.8	−0.148%	$394K	$518K	5x	as long as short
Katana Perps ZEC-USD	+0.0095%	8h	1,454.2	−0.052%	$17K	$886K	10x	as long as short
Lighter ZEC	+0.0096%	1h	1,456.2	+0.087%	$18.8M	$53.9M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,453.9	−0.070%	$177K	$2.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,454	−0.067%	$60K	$37K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,454.2	−0.050%	$3.0M	$6.8M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,455.4	+0.028%	$752.8M	$494.1M	10x	as long as short
Pacifica ZEC	+0.0100%	1h	1,454.3	−0.046%	$1.6M	$3.1M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,454.7	−0.016%	$659.6M	$2.54B	75x	as long as short
Bulk ZEC-USDlong	+0.0100%	1h	1,455	long leg	$896K	$37K	10x
MEXC ZEC_USDT	+0.0100%	8h	1,454.7	−0.019%	$219.7M	$882.3M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,454.6	−0.024%	$103.4M	$56.9M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,453.8	−0.078%	$162.0M	$315.6M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,454.5	−0.029%	—	$107.0M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,455.9	+0.061%	$2.3M	$4.1M	15x	as long as short
edgeX ZECUSDCshort	+0.0100%	4h	1,453.4	−0.107%	$487K	$9.8M	20x
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,455.2	+0.014%	$3.0M	$501K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,452.6	−0.159%	$706K	$606K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,453.4	−0.108%	$109K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,453.9	−0.073%	$299K	$2.0M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,454.3	−0.045%	$127K	$161K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,453.6	−0.096%	$442K	$493K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,457	+0.142%	$3K	$1.3M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,455	+0.003%	$220K	$4.7M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,453.3	−0.114%	$2.4M	$24.9M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,454.3	−0.044%	$3.7M	$5.4M	50x	as long as short
Phoenix ZEC	+0.0103%	1h	1,452.3	−0.186%	$4.6M	$1.6M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,455.2	+0.016%	$36K	$362K	20x	as long as short
RISEx ZEC/USDC	+0.0219%	1h	1,454.9	−0.007%	$863K	$2.5M	10x	as long as short
Extended ZEC-USD	+0.0248%	1h	1,454.8	−0.014%	$3.3M	$7.0M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0440%	1h	1,456.3	+0.091%	$3.7M	$11.5M	50x	as long as short
Aftermath Perps ZECUSD	+0.0460%	1h	1,454.1	−0.058%	$39K	$32K	10x	as long as short
Arcus ZEC-USD	+0.0518%	1h	1,456.1	+0.077%	$753K	$7.8M	10x	as long as short
Lighter RH ZEC	+0.0736%	1h	1,457.1	+0.150%	$1.9M	$8.4M	10x	as long as short