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Funding arb · Price arb /

ZEC

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 00:00 UTC+0.0185%/8h= +20.3% APRnext payment +$1.85 per $10,000 · paid last 24h +0.014%
Price spread now: SunX against Bybit+0.285%7-day average +0.115% · you sell dearer than you buy
Net, funding: paid 7d − costs−$122as in the Funding arb table
Net, price: spread back to 7d avg − costs−$115as in the Price arb table
costs, in and out, $10k−$1321.323% of the position
Long on BybitShort on SunX
What this pair did over the last
the charts below follow
Funding, last 7 days+0.101%+$10 on $10k
Price spread, last 3 days (all we have)−0.024%−$2 · spread now +0.285%, 7d avg +0.115%
Together, before fees+0.077%+$8 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and SunX is 0.171% dearer against Bybit than usual: you sell high and buy low: +$17 more if the spread goes back to its 7-day average of +0.115%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.101% in total (about 5.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.85 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit ZECUSDT1,472.9−0.0085get 0.0085% / 8h52m 57s$273.4M$661.4M75x
ShortSunX ZEC-USDT1,477.10.0100get 0.0100% / 8h52m 57s$3K$1.2M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

SunX against Bybit. 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

Funding earned
$38.91
Price spread: +0.285% → +0.115%
$17.06
Slippage, 4 orders
−$113.29
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee SunX: 4 bp × 2 orders
−$8
Net
−$76.32
Costs to cover
1.323%
Break-even
20.7 days
Slippage from Bybit: live order book, 1 min ago; SunX: live order book, 11 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Bybit live order book, 1 min ago0.03 bp5.5 bp −$65.7 bp −$5717.0 bp −$1,704doesn't fit
Sell SunX live order book, 11 min ago29.02 bp68.8 bp −$69doesn't fitdoesn't fitdoesn't fit

ZEC on 51 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective ZEC/USDC PERP−0.3089%1h1,475.9+0.202%$34K$275K12xas long as short
ApeX Omni ZECUSDT−0.0365%1h1,474+0.077%$432K$827K50xas long as short
Ondo Perps ZEC-USD.P−0.0326%1h1,473.5+0.041%$400K$517K5xas long as short
Kraken Futures PF_ZECUSD−0.0224%1h1,474.6+0.117%$18.0M$44.6M25xas long as short
BloFin ZEC-USDT−0.0111%8h1,474.5+0.110%$29.5M$75.7M75xas long as short
Bybit ZECUSDTlong−0.0085%8h1,472.9long leg$273.4M$661.4M75x
Hotstuff ZEC-PERP−0.0080%1h1,474.2+0.086%$6K$2K10xas long as short
Variational Omni ZEC−0.0037%8h1,473.4+0.036%$47.0M$33.5M—as long as short
dYdX ZEC-USD0.0000%1h1,475+0.142%$415K$104K5xas long as short
Kalshi KXZECPERP0.0000%8h1,476.4+0.241%$901K$5.6M2.2xas long as short
Show all 51 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Perpl ZEC0.0000%43m1,474+0.076%$84K$404K10xas long as short
gTrade (Gains Network) ZEC/USDL +0.0007% / S −0.0006%1h1,474.9+0.137%$5.2M—150xas long as short
Orderly PERP_ZEC_USDC+0.0010%8h1,474.7+0.124%$295K$1.4M20xas long as short
Deribit ZEC_USDC-PERPETUAL+0.0019%1h1,475.5+0.174%$615K$1.3M25xas long as short
Phoenix ZEC+0.0024%1h1,475.6+0.185%$4.7M$1.6M10xas long as short
GMX ZEC/USD [WBTC.b-USDC]L +0.0038% / S +0.0009%1h1,474.8+0.129%$366K—100xas long as short
OKX ZEC-USDT-SWAP+0.0039%8h1,473.3+0.026%$180.6M$1.35B50xas long as short
Gate ZEC_USDT+0.0044%8h1,474+0.077%$50.7M$183.9M75xas long as short
01 Exchange ZECUSD+0.0048%1h1,474.6+0.117%$8K$8K5xas long as short
SoDEX ZEC-USD+0.0065%1h1,474.5+0.106%$227K$4.5M10xas long as short
Popdex ZECUSDT+0.0096%1h1,474.7+0.125%$176K$1.9M50xas long as short
Katana Perps ZEC-USD+0.0097%8h1,475.3+0.160%$12K$828K10xas long as short
Paradex ZEC-USD-PERP+0.0100%8h1,474+0.077%$61K$39K10xas long as short
Nado ZEC-PERP+0.0100%1h1,474.6+0.115%$2.6M$6.8M10xas long as short
Hyperliquid ZEC+0.0100%1h1,475.9+0.204%$766.0M$473.5M10xas long as short
Aster ZECUSDT+0.0100%8h1,474.5+0.111%$15.6M$32.8M75xas long as short
Pacifica ZEC+0.0100%1h1,475.2+0.155%$1.7M$2.9M10xas long as short
Binance ZECUSDT+0.0100%8h1,473.9+0.066%$681.9M$2.47B75xas long as short
Arcus ZEC-USD+0.0100%1h1,475.5+0.181%$714K$8.3M10xas long as short
Bulk ZEC-USD+0.0100%1h1,471.1−0.120%$908K$26K10xas long as short
MEXC ZEC_USDT+0.0100%8h1,474+0.076%$223.2M$829.9M150xas long as short
KuCoin ZECUSDTM+0.0100%8h1,474.6+0.118%$104.3M$56.0M75xas long as short
Bitget ZECUSDT+0.0100%8h1,474.4+0.103%$162.9M$303.3M75xas long as short
BingX ZEC-USDT+0.0100%8h1,473.8+0.059%—$102.7M—as long as short
edgeX ZECUSDC+0.0100%4h1,474.3+0.096%$513K$9.3M20xas long as short
GRVT ZEC_USDT_Perp+0.0100%8h1,475.5+0.179%$3.0M$466K10xas long as short
StandX ZEC-USD+0.0100%1h1,475.4+0.168%$110K$4.8M30xas long as short
Polymarket Perps ZEC-USD+0.0100%1h1,474.6+0.116%$348K$1.9M10xas long as short
Bullet ZEC-USD+0.0100%1h1,474.4+0.103%$128K$159K20xas long as short
Derive ZEC-PERP+0.0100%1h1,473+0.009%$449K$503K6.7xas long as short
SunX ZEC-USDTshort+0.0100%8h1,477.1+0.285%$3K$1.2M20x
HTX ZEC-USDT+0.0100%8h1,473.2+0.020%$2.5M$23.2M75xas long as short
Phemex ZECUSDT+0.0100%8h1,474.8+0.132%$3.9M$5.3M50xas long as short
Extended ZEC-USD+0.0104%1h1,474.4+0.105%$3.3M$6.9M10xas long as short
Aevo ZEC-PERP+0.0104%1h1,474.5+0.107%$37K$366K20xas long as short
RISEx ZEC/USDC+0.0132%1h1,475.3+0.167%$836K$1.2M10xas long as short
Lighter ZEC+0.0144%1h1,476.2+0.228%$19.1M$52.1M20xas long as short
Coinbase International ZEC-PERP-INTX+0.0432%1h1,476.8+0.267%$3.8M$11.0M50xas long as short
Lighter RH ZEC+0.0504%1h1,476.7+0.259%$2.0M$8.2M10xas long as short
Backpack ZEC_USDC_PERP+0.0552%1h1,475.6+0.183%$2.4M$3.7M15xas long as short
Aftermath Perps ZECUSD+0.0628%1h1,474.7+0.120%$46K$47K10xas long as short