Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.004%

Price spread now: Variational Omni against Bulk+0.062%48s7-day average −0.038% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bulk Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.021%+$2 on $10k

Price spread, last 4 days (all we have)−0.371%−$37 · spread now +0.062%, 7d avg −0.038%

Together, before fees−0.350%+ Points / potential airdropVariational Omni: Active · farm board−$35 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: Variational Omni is 0.100% dearer against Bulk than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of −0.038%. The two prices were read 48 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	1,494.2	0.0100	pay 0.0013% / 1h	3m 40s	$903K	$7K	10x
Short	Variational Omni ZEC	1,495.2	0.0100	get 0.0100% / 8h	1h 03m	$48.9M	$34.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Bulk. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now +0.062%Rate

Funding earned: $0
Price spread: +0.062% → −0.038%: $9.99
Slippage, 4 orders: no order book: not counted
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $2.99
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Bulk: live order book, 40 min ago; Variational Omni: RFQ quote, 1 min ago. Net counts fees only.

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, 40 min ago	0.03 bp	3.5 bp −$4	3.9 bp −$39	4.5 bp −$450	7.4 bp −$3,696
Sell Variational Omni RFQ quote, 1 min ago	2.78 bp	doesn't fit	7.0 bp −$70	15.1 bp −$1,510	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	−0.3684%	1h	1,479.6	−0.980%	$36K	$275K	12x	as long as short
Perpl ZEC	−0.0447%	43m	1,493.9	−0.025%	$61K	$304K	10x	as long as short
BloFin ZEC-USDT	−0.0143%	8h	1,494.8	+0.038%	$30.9M	$75.1M	75x	as long as short
Kraken Futures PF_ZECUSD	−0.0096%	1h	1,494.2	−0.005%	$18.1M	$46.6M	25x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,496	+0.114%	$6K	$1K	10x	as long as short
Aftermath Perps ZECUSD	−0.0004%	1h	1,495.2	+0.064%	$48K	$64K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,495	+0.049%	$415K	$35K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,495.8	+0.104%	$1.5M	$4.7M	2.2x	as long as short
Deribit ZEC_USDC-PERPETUAL	0.0000%	1h	1,494.4	+0.008%	$682K	$1.4M	25x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,494.4	+0.011%	$5.3M	—	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	+0.0080%	8h	1,493.7	−0.037%	$301K	$1.1M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,494.5	+0.017%	$171K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0097%	8h	1,494.5	+0.018%	$12K	$876K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,494.6	+0.022%	$62K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,495.9	+0.114%	$3.1M	$7.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,495.6	+0.091%	$780.9M	$446.9M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,494	−0.015%	$13.9M	$31.1M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,495	+0.050%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,494.7	+0.028%	$696.7M	$2.31B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,493.6	−0.046%	$267.6M	$630.4M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,494.5	+0.017%	$182.4M	$1.34B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,494.1	−0.009%	$408K	$554K	5x	as long as short
Bulk ZEC-USDlong	+0.0100%	1h	1,494.2	long leg	$903K	$7K	10x
Gate ZEC_USDT	+0.0100%	8h	1,494.9	+0.044%	$55.2M	$187.3M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,494.2	−0.005%	$242.6M	$799.9M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,494.7	+0.033%	$102.9M	$57.3M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,495.1	+0.056%	$160.8M	$289.8M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,495.1	+0.059%	—	$117.7M	—	as long as short
Variational Omni ZECshort	+0.0100%	8h	1,495.2	+0.062%	$48.9M	$34.8M	—
edgeX ZECUSDC	+0.0100%	4h	1,495.1	+0.059%	$573K	$9.0M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,494.7	+0.033%	$3.1M	$510K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,496.3	+0.140%	$412K	$942K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,495.3	+0.069%	$56K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,493.9	−0.023%	$358K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,494.2	−0.005%	$164K	$184K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,493.1	−0.078%	$456K	$500K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,496.2	+0.129%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,493.9	−0.021%	$254K	$3.6M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,496.2	+0.132%	$2.7M	$20.3M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,495.1	+0.059%	$4.0M	$5.0M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,495	+0.051%	$2.8M	$7.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,494.1	−0.006%	$43K	$151K	20x	as long as short
01 Exchange ZECUSD	+0.0120%	1h	1,494.9	+0.043%	$8K	$7K	5x	as long as short
RISEx ZEC/USDC	+0.0129%	1h	1,494.7	+0.031%	$939K	$1.1M	10x	as long as short
Phoenix ZEC	+0.0134%	1h	1,496.6	+0.157%	$4.8M	$1.4M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0137% / S −0.0132%	1h	1,494.5	+0.015%	$393K	—	100x	as long as short
Lighter RH ZEC	+0.0184%	1h	1,496.4	+0.143%	$2.1M	$7.5M	10x	as long as short
Arcus ZEC-USD	+0.0221%	1h	1,495.3	+0.073%	$611K	$8.7M	10x	as long as short
Lighter ZEC	+0.0256%	1h	1,496.4	+0.148%	$19.6M	$47.1M	20x	as long as short
Backpack ZEC_USDC_PERP	+0.0260%	1h	1,495.8	+0.102%	$2.3M	$3.9M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0480%	1h	1,495.8	+0.101%	$3.7M	$10.1M	50x	as long as short