Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.116%

Price spread now: ApeX Omni against Bullet−0.689%66s7-day average −0.164% · 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−$470.469% of the position

Long on Bullet Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.424%−$42 on $10k

Price spread, last 3 days (all we have)+0.186%+$19 · spread now −0.689%, 7d avg −0.164%

Together, before fees−0.239%−$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: ApeX Omni is 0.525% cheaper against Bullet than usual: you would sell low and buy high, −$52 on $10k if it goes back to its 7-day average of −0.164%. The two prices were read 66 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	Bullet ZEC-USD	1,455.7	0.0100	pay 0.0013% / 1h	27m 53s	$127K	$161K	20x
Short	ApeX Omni ZECUSDT	1,445.6	0.0100	get 0.0013% / 1h	27m 53s	$702K	$608K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Bullet. 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 BulletbpFee ApeX OmnibpOrdersPrice spread, now −0.689%Rate

Funding earned: $0
Price spread: −0.689% → −0.164%: −$52.46
Slippage, 4 orders: −$28.86
Fee Bullet: 4 bp × 2 orders: −$8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$99.32
Costs to cover: 0.469%
Break-even: never at this rate

Slippage from Bullet: live order book, 61 min ago; ApeX Omni: live order book, 61 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 Bullet live order book, 61 min ago	0.34 bp	5.8 bp −$6	11.5 bp −$115	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 61 min ago	4.31 bp	25.9 bp −$26	47.5 bp −$475	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	1,433.1	−1.547%	$33K	$275K	12x	as long as short
BloFin ZEC-USDT	−0.0092%	8h	1,453.5	−0.151%	$29.0M	$75.2M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,456.1	+0.030%	$6K	$2K	10x	as long as short
Kraken Futures PF_ZECUSD	−0.0071%	1h	1,455.6	−0.002%	$17.7M	$44.7M	25x	as long as short
Variational Omni ZEC	−0.0001%	8h	1,443	−0.867%	$45.4M	$32.5M	—	as long as short
dYdX ZEC-USD	0.0000%	1h	1,457.9	+0.155%	$411K	$106K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,457.3	+0.110%	$914K	$5.7M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,455.7	+0.002%	$83K	$401K	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	0.0000%	1h	1,456.5	+0.058%	$593K	$1.3M	25x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,456.1	+0.028%	$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
Bybit ZECUSDT	+0.0012%	8h	1,457.9	+0.154%	$268.3M	$675.7M	75x	as long as short
Orderly PERP_ZEC_USDC	+0.0015%	8h	1,455.9	+0.019%	$292K	$1.5M	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0026% / S +0.0072%	1h	1,455.9	+0.019%	$547K	—	100x	as long as short
OKX ZEC-USDT-SWAP	+0.0056%	8h	1,458.3	+0.178%	$172.9M	$1.36B	50x	as long as short
01 Exchange ZECUSD	+0.0072%	1h	1,455.9	+0.015%	$8K	$8K	5x	as long as short
Gate ZEC_USDT	+0.0079%	8h	1,458.4	+0.186%	$49.4M	$189.8M	75x	as long as short
Aster ZECUSDT	+0.0086%	8h	1,458.5	+0.193%	$15.4M	$34.6M	75x	as long as short
Katana Perps ZEC-USD	+0.0095%	8h	1,456.1	+0.032%	$13K	$873K	10x	as long as short
Lighter ZEC	+0.0096%	1h	1,458.4	+0.191%	$18.8M	$54.5M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,456.5	+0.054%	$173K	$2.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,456.6	+0.066%	$60K	$37K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,455.6	−0.002%	$2.5M	$7.1M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,458.9	+0.223%	$753.9M	$496.3M	10x	as long as short
Pacifica ZEC	+0.0100%	1h	1,457.4	+0.119%	$1.6M	$3.0M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,458	+0.161%	$664.6M	$2.53B	75x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,441.6	−0.966%	$392K	$516K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,445	−0.731%	$890K	$32K	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,457.9	+0.153%	$217.3M	$894.1M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,459.2	+0.243%	$103.7M	$56.9M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,458.4	+0.188%	$161.4M	$313.3M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,457.9	+0.152%	—	$6.8M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,458.3	+0.181%	$2.3M	$4.1M	15x	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,444.1	−0.793%	$485K	$9.8M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,445.8	−0.680%	$3.0M	$501K	10x	as long as short
ApeX Omni ZECUSDTshort	+0.0100%	1h	1,445.6	−0.689%	$702K	$608K	50x
StandX ZEC-USD	+0.0100%	1h	1,450.5	−0.358%	$109K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,456.4	+0.051%	$350K	$2.0M	10x	as long as short
Bullet ZEC-USDlong	+0.0100%	1h	1,455.7	long leg	$127K	$161K	20x
Derive ZEC-PERP	+0.0100%	1h	1,454.6	−0.072%	$442K	$493K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,457.6	+0.133%	$3K	$1.3M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,455.8	+0.008%	$221K	$4.7M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,457.7	+0.142%	$2.4M	$25.0M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,457.2	+0.102%	$3.8M	$5.4M	50x	as long as short
Phoenix ZEC	+0.0103%	1h	1,452.1	−0.247%	$4.5M	$1.6M	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,458.8	+0.213%	$3.3M	$6.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,455.9	+0.016%	$36K	$362K	20x	as long as short
RISEx ZEC/USDC	+0.0219%	1h	1,457.3	+0.110%	$870K	$1.9M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0440%	1h	1,457.3	+0.109%	$3.7M	$11.4M	50x	as long as short
Aftermath Perps ZECUSD	+0.0459%	1h	1,450.9	−0.330%	$39K	$32K	10x	as long as short
Arcus ZEC-USD	+0.0518%	1h	1,458.7	+0.210%	$754K	$8.0M	10x	as long as short
Lighter RH ZEC	+0.0680%	1h	1,458.4	+0.188%	$1.9M	$8.5M	10x	as long as short