Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0027%/8h= −3.0% APRpaid last 24h +0.019%

Price spread now: Gate against Bulk+0.090%7-day average +0.020% · 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−$21as in the Price arb table

costs, in and out, $10k−$280.283% of the position

Long on Bulk Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.012%−$1 on $10k

Price spread, last 4 days (all we have)−0.113%−$11 · spread now +0.090%, 7d avg +0.020%

Together, before fees−0.124%−$12 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.070% dearer against Bulk than usual: you sell high and buy low (spread +0.090% now, against its 7-day average of +0.020%): +$7 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 8.6 days. At the pace of the last 3 days (−0.012% in total) that is about 20 days.

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	16m 48s	$896K	$26K	10x
Short	Gate ZEC_USDT	1,456.3	0.0073	get 0.0073% / 8h	2h 16m	$49.4M	$190.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.090%Rate

Funding earned: −$5.67
Price spread: +0.090% → +0.020%: $6.99
Slippage, 4 orders: −$6.28
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$26.96
Costs to cover: 0.283%
Break-even: never at this rate

Slippage from Bulk: live order book, 7 min ago; Gate: live order book, 2 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, 7 min ago	0.31 bp	3.8 bp −$4	3.8 bp −$38	6.0 bp −$603	12.1 bp −$6,061
Sell Gate live order book, 2 min ago	0.03 bp	8.2 bp −$8	13.8 bp −$138	29.5 bp −$2,946	52.9 bp −$26.4K

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	1,433.1	−1.502%	$33K	$275K	12x	as long as short
BloFin ZEC-USDT	−0.0086%	8h	1,455.9	+0.060%	$28.7M	$75.4M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,455	−0.002%	$6K	$2K	10x	as long as short
Kraken Futures PF_ZECUSD	−0.0071%	1h	1,456.9	+0.134%	$17.7M	$44.6M	25x	as long as short
Bybit ZECUSDT	−0.0003%	8h	1,456.1	+0.076%	$268.4M	$677.3M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,454.5	−0.032%	$410K	$106K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,455.9	+0.060%	$933K	$5.7M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,455	0.000%	$83K	$401K	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	0.0000%	1h	1,456.5	+0.100%	$593K	$1.3M	25x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,455.9	+0.065%	$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
Variational Omni ZEC	+0.0008%	8h	1,455.6	+0.041%	$45.8M	$33.2M	—	as long as short
Orderly PERP_ZEC_USDC	+0.0015%	8h	1,455.6	+0.043%	$292K	$1.5M	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0020% / S +0.0071%	1h	1,455.9	+0.060%	$556K	—	100x	as long as short
01 Exchange ZECUSD	+0.0048%	1h	1,455.7	+0.052%	$8K	$8K	5x	as long as short
OKX ZEC-USDT-SWAP	+0.0057%	8h	1,457.2	+0.149%	$173.9M	$1.36B	50x	as long as short
Gate ZEC_USDTshort	+0.0073%	8h	1,456.3	+0.090%	$49.4M	$190.6M	75x
Ondo Perps ZEC-USD.P	+0.0079%	1h	1,452.8	−0.151%	$395K	$520K	5x	as long as short
Aster ZECUSDT	+0.0094%	8h	1,456.4	+0.100%	$15.3M	$34.4M	75x	as long as short
Katana Perps ZEC-USD	+0.0095%	8h	1,455.6	+0.044%	$13K	$872K	10x	as long as short
Lighter ZEC	+0.0096%	1h	1,458.4	+0.234%	$18.8M	$54.7M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,455.4	+0.027%	$173K	$2.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,454.8	−0.014%	$60K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,455.4	+0.027%	$2.5M	$7.1M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,457.4	+0.166%	$753.5M	$494.8M	10x	as long as short
Pacifica ZEC	+0.0100%	1h	1,455.2	+0.014%	$1.6M	$3.0M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,456.8	+0.122%	$664.5M	$2.53B	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,456.7	+0.117%	$216.9M	$897.8M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,456.5	+0.100%	$103.0M	$57.1M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,457	+0.138%	$161.3M	$313.1M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,455.7	+0.047%	—	$6.8M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,457.2	+0.155%	$2.3M	$4.1M	15x	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,456.9	+0.132%	$489K	$9.6M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,456.7	+0.119%	$3.0M	$510K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,457	+0.137%	$428K	$814K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,456.3	+0.091%	$109K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,455.6	+0.042%	$345K	$2.0M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,455.7	+0.049%	$127K	$161K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,454.5	−0.037%	$442K	$498K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,457.7	+0.183%	$3K	$1.3M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,456.3	+0.092%	$221K	$4.7M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,456.6	+0.112%	$2.4M	$25.0M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,456.7	+0.115%	$3.8M	$5.4M	50x	as long as short
Bulk ZEC-USDlong	+0.0100%	1h	1,455	long leg	$896K	$26K	10x
Phoenix ZEC	+0.0103%	1h	1,457.5	+0.172%	$4.6M	$1.6M	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,457.1	+0.143%	$3.3M	$6.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,455.8	+0.057%	$36K	$362K	20x	as long as short
RISEx ZEC/USDC	+0.0219%	1h	1,455.9	+0.065%	$861K	$1.8M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0440%	1h	1,457.8	+0.191%	$3.7M	$11.4M	50x	as long as short
Aftermath Perps ZECUSD	+0.0456%	1h	1,456.7	+0.117%	$40K	$34K	10x	as long as short
Arcus ZEC-USD	+0.0518%	1h	1,457	+0.135%	$749K	$8.0M	10x	as long as short
Lighter RH ZEC	+0.0632%	1h	1,458.9	+0.270%	$1.9M	$8.5M	10x	as long as short