Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0251%/8h= −27.5% APRpaid last 24h −0.020%

Price spread now: Orderly against Deribit−0.054%7-day average −0.056% · you buy dearer than you sell

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

Long on Deribit Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.244%−$24 on $10k

Price spread, last 4 days (all we have)−0.020%−$2 · spread now −0.054%, 7d avg −0.056%

Together, before fees−0.264%−$26 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.056%, so right now this pair is about funding alone: −$8 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit ZEC_USDC-PERPETUAL	1,458.7	0.0314	pay 0.0039% / 1h	1m 23s	$615K	$1.3M	25x
Short	Orderly PERP_ZEC_USDC	1,457.9	0.0063	get 0.0063% / 8h	4h 01m	$291K	$952K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Deribit. 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 DeribitbpFee OrderlybpOrdersPrice spread, now −0.054%Rate

Funding earned: −$52.75
Price spread: −0.054% → −0.056%: $0.24
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$65.5
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Deribit: live order book, 3 min ago; Orderly: no order-book sample. 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 Deribit live order book, 3 min ago	3.39 bp	8.1 bp −$8	14.1 bp −$141	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.3166%	1h	1,458.2	−0.038%	$34K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,458.3	−0.028%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0070%	8h	1,458.8	+0.004%	$29.6M	$71.0M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,458.2	−0.035%	$411K	$37K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,458.6	−0.006%	$1.5M	$4.5M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,458.5	−0.015%	$83K	$240K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,457.8	−0.065%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDCshort	+0.0063%	8h	1,457.9	−0.054%	$291K	$952K	20x
GMX ZEC/USD [WBTC.b-USDC]	L +0.0071% / S −0.0023%	1h	1,457.5	−0.081%	$409K	—	100x	as long as short
01 Exchange ZECUSD	+0.0088%	1h	1,459.1	+0.026%	$8K	$7K	5x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex ZECUSDT	+0.0096%	1h	1,458.5	−0.017%	$173K	$1.7M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,458.8	+0.002%	$10K	$858K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,458.5	−0.016%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,458.6	−0.009%	$2.8M	$6.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,459.7	+0.068%	$759.3M	$431.6M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,458.3	−0.030%	$14.8M	$27.9M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,458.4	−0.021%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,458.5	−0.013%	$670.0M	$2.21B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,457.7	−0.070%	$261.7M	$602.0M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,458.4	−0.024%	$178.2M	$1.22B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,457.6	−0.076%	$396K	$442K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,457.5	−0.080%	$880K	$18K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,458.2	−0.033%	$50.5M	$175.5M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,458.5	−0.017%	$215.1M	$777.2M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,458.3	−0.028%	$102.9M	$54.0M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,458.6	−0.011%	$165.8M	$270.9M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,457.7	−0.073%	—	$105.6M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,457.3	−0.094%	$47.8M	$32.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,458.8	+0.004%	$568K	$8.6M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,459.1	+0.027%	$3.0M	$451K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,459.1	+0.025%	$405K	$942K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,457.7	−0.073%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,458	−0.049%	$354K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,458.1	−0.043%	$161K	$184K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,456.8	−0.134%	$445K	$521K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,460.2	+0.102%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,458.1	−0.044%	$233K	$3.4M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,458	−0.049%	$2.7M	$18.4M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,458.3	−0.027%	$3.8M	$5.1M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,458.2	−0.032%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,457.8	−0.063%	$47K	$151K	20x	as long as short
Phoenix ZEC	+0.0123%	1h	1,458.7	−0.002%	$4.6M	$1.3M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0188%	1h	1,458.5	−0.012%	$2.4M	$3.9M	15x	as long as short
Lighter ZEC	+0.0248%	1h	1,459.6	+0.059%	$19.3M	$46.0M	20x	as long as short
Kraken Futures PF_ZECUSD	+0.0277%	1h	1,458	−0.050%	$18.0M	$45.2M	25x	as long as short
Lighter RH ZEC	+0.0312%	1h	1,459.6	+0.061%	$2.1M	$7.0M	10x	as long as short
Deribit ZEC_USDC-PERPETUALlong	+0.0314%	1h	1,458.7	long leg	$615K	$1.3M	25x
RISEx ZEC/USDC	+0.0412%	1h	1,458.5	−0.013%	$923K	$1.1M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0448%	1h	1,460.5	+0.124%	$3.8M	$9.1M	50x	as long as short
Arcus ZEC-USD	+0.0626%	1h	1,459.6	+0.062%	$680K	$8.2M	10x	as long as short
Aftermath Perps ZECUSD	+0.0679%	1h	1,458.8	+0.004%	$45K	$49K	10x	as long as short