Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0044%/8h= −4.8% APRpaid last 24h −0.004%

Price spread now: OKX against Bullet+0.200%7-day average −0.023% · 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$0as in the Price arb table

costs, in and out, $10k−$220.223% of the position

Long on Bullet Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.030%−$3 on $10k

Price spread, last 3 days (all we have)−0.789%−$79 · spread now +0.200%, 7d avg −0.023%

Together, before fees−0.819%−$82 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.223% dearer against Bullet than usual: you sell high and buy low (spread +0.200% now, against its 7-day average of −0.023%): +$22 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 17 days.

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 43s	$127K	$161K	20x
Short	OKX ZEC-USDT-SWAP	1,458.6	0.0056	get 0.0056% / 8h	2h 27m	$172.9M	$1.36B	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.200%Rate

Funding earned: −$9.23
Price spread: +0.200% → −0.023%: $22.26
Slippage, 4 orders: −$4.32
Fee Bullet: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$9.29
Costs to cover: 0.223%
Break-even: never at this rate

Slippage from Bullet: live order book, 61 min ago; OKX: 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 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 OKX live order book, 1 min ago	0.03 bp	5.0 bp −$5	6.5 bp −$65	20.4 bp −$2,043	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	1,457.8	+0.149%	$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	+0.0011%	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-SWAPshort	+0.0056%	8h	1,458.6	+0.200%	$172.9M	$1.36B	50x
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	+0.0090%	8h	1,458	+0.159%	$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	1,458.7	+0.208%	$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	1,458.5	+0.195%	$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	1,458.5	+0.195%	$753.7M	$496.6M	10x	as long as short
Pacifica ZEC	+0.0100%	1h	1,458.1	+0.170%	$1.6M	$3.0M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,458	+0.159%	$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	1,458.4	+0.190%	$216.7M	$894.2M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,458.3	+0.181%	$103.4M	$57.0M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,458	+0.162%	$161.3M	$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 ZECUSDT	+0.0100%	1h	1,445.6	−0.689%	$702K	$608K	50x	as long as short
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	1,460	+0.300%	$2.0M	$8.5M	10x	as long as short