Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.094%

Price spread now: ApeX Omni against Derive+0.057%72s7-day average −0.075% · you sell dearer than you buy

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

Long on Derive Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−1.174%−$117 on $10k

Price spread, last 4 days (all we have)−0.619%−$62 · spread now +0.057%, 7d avg −0.075%

Together, before fees−1.793%−$179 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 0.131% dearer against Derive than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of −0.075%. The two prices were read 72 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	Derive ZEC-PERP	1,456.8	0.0100	pay 0.0013% / 1h	1m 52s	$445K	$521K	6.7x
Short	ApeX Omni ZECUSDT	1,457.6	0.0100	get 0.0013% / 1h	1m 52s	$405K	$942K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Derive. 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 DerivebpFee ApeX OmnibpOrdersPrice spread, now +0.057%Rate

Funding earned: $0
Price spread: +0.057% → −0.075%: $13.14
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$2.86
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Derive: no order-book sample; ApeX Omni: live order book, 57 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 Derive no order-book sample	—	—	—	—	—
Sell ApeX Omni live order book, 57 min ago	1.59 bp	9.7 bp −$10	33.2 bp −$332	doesn't fit	doesn't fit

Derive: 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	+0.096%	$34K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,459	+0.153%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0070%	8h	1,458.8	+0.138%	$29.6M	$71.0M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,458.2	+0.099%	$411K	$37K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,458.6	+0.128%	$1.5M	$4.5M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,456.9	+0.012%	$83K	$240K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,457.7	+0.065%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0063%	8h	1,457.9	+0.081%	$291K	$952K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0071% / S −0.0023%	1h	1,457.8	+0.071%	$409K	—	100x	as long as short
01 Exchange ZECUSD	+0.0080%	1h	1,458.1	+0.095%	$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	1,457.7	+0.063%	$173K	$1.7M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,457.8	+0.072%	$10K	$859K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,457.4	+0.041%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,457.8	+0.069%	$2.8M	$6.7M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,459.6	+0.195%	$759.3M	$431.6M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,458.3	+0.109%	$14.8M	$27.9M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,458.2	+0.098%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,458.3	+0.106%	$669.9M	$2.21B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,457.6	+0.061%	$261.7M	$602.0M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,458.4	+0.110%	$178.2M	$1.22B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,457.6	+0.058%	$396K	$442K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,457.5	+0.054%	$880K	$18K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,458	+0.085%	$50.5M	$175.5M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,458.3	+0.105%	$215.1M	$777.2M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,458.1	+0.092%	$102.9M	$54.0M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,458.5	+0.118%	$165.8M	$270.9M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,457.5	+0.051%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,457.3	+0.040%	$47.8M	$32.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,457.7	+0.065%	$567K	$8.6M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,457.2	+0.032%	$3.0M	$451K	10x	as long as short
ApeX Omni ZECUSDTshort	+0.0100%	1h	1,457.6	+0.057%	$405K	$942K	50x
StandX ZEC-USD	+0.0100%	1h	1,459.2	+0.170%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,457.4	+0.044%	$354K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,458	+0.083%	$160K	$184K	20x	as long as short
Derive ZEC-PERPlong	+0.0100%	1h	1,456.8	long leg	$445K	$521K	6.7x
SunX ZEC-USDT	+0.0100%	8h	1,460.2	+0.237%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,458.1	+0.090%	$233K	$3.4M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,458	+0.086%	$2.7M	$18.4M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,458.3	+0.107%	$3.8M	$5.1M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,458	+0.087%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,457.8	+0.072%	$47K	$151K	20x	as long as short
Phoenix ZEC	+0.0123%	1h	1,458.8	+0.137%	$4.6M	$1.3M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0188%	1h	1,458.5	+0.123%	$2.4M	$3.9M	15x	as long as short
Lighter ZEC	+0.0248%	1h	1,459.4	+0.183%	$19.2M	$46.0M	20x	as long as short
Kraken Futures PF_ZECUSD	+0.0277%	1h	1,458	+0.085%	$18.0M	$45.2M	25x	as long as short
Lighter RH ZEC	+0.0312%	1h	1,459.4	+0.181%	$2.1M	$7.0M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0314%	1h	1,458.7	+0.135%	$615K	$1.3M	25x	as long as short
RISEx ZEC/USDC	+0.0412%	1h	1,457.5	+0.054%	$922K	$1.1M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0448%	1h	1,460.5	+0.259%	$3.8M	$9.1M	50x	as long as short
Arcus ZEC-USD	+0.0626%	1h	1,459	+0.155%	$675K	$8.2M	10x	as long as short
Aftermath Perps ZECUSD	+0.0679%	1h	1,458.7	+0.134%	$45K	$49K	10x	as long as short