Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0088%/8h= −9.7% APRpaid last 24h −0.020%

Price spread now: Orderly against Derive+0.106%7-day average +0.078% · you sell dearer than you buy

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

Long on Derive Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.351%−$35 on $10k

Price spread, last 3 days (all we have)−0.019%−$2 · spread now +0.106%, 7d avg +0.078%

Together, before fees−0.370%−$37 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Orderly is 0.027% dearer against Derive than usual: you sell high and buy low (spread +0.106% now, against its 7-day average of +0.078%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 25 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive ZEC-PERP	1,469.1	0.0100	pay 0.0013% / 1h	29m 49s	$448K	$498K	6.7x
Short	Orderly PERP_ZEC_USDC	1,470.7	0.0012	get 0.0012% / 8h	29m 49s	$294K	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Derive. 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 DerivebpFee OrderlybpOrdersPrice spread, now +0.106%Rate

Funding earned: −$18.53
Price spread: +0.106% → +0.078%: $2.73
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$27.8
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Derive: no order-book sample; 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 Derive no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Derive and 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	−0.3089%	1h	1,472.3	+0.219%	$34K	$275K	12x	as long as short
Ondo Perps ZEC-USD.P	−0.0255%	1h	1,470.1	+0.066%	$399K	$516K	5x	as long as short
Kraken Futures PF_ZECUSD	−0.0225%	1h	1,470.5	+0.093%	$17.9M	$44.3M	25x	as long as short
Bybit ZECUSDT	−0.0111%	8h	1,470.1	+0.064%	$274.9M	$654.5M	75x	as long as short
BloFin ZEC-USDT	−0.0102%	8h	1,469.7	+0.040%	$29.6M	$75.2M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,470.1	+0.067%	$6K	$2K	10x	as long as short
Variational Omni ZEC	−0.0057%	8h	1,468.8	−0.023%	$46.8M	$33.8M	—	as long as short
ApeX Omni ZECUSDT	−0.0045%	1h	1,470.3	+0.082%	$431K	$841K	50x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,471	+0.129%	$414K	$104K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,470.5	+0.093%	$902K	$5.6M	2.2x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl ZEC	0.0000%	43m	1,470	+0.058%	$83K	$404K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,471	+0.125%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDCshort	+0.0012%	8h	1,470.7	+0.106%	$294K	$1.4M	20x
01 Exchange ZECUSD	+0.0016%	1h	1,470.4	+0.084%	$8K	$8K	5x	as long as short
Phoenix ZEC	+0.0024%	1h	1,471	+0.125%	$4.6M	$1.6M	10x	as long as short
OKX ZEC-USDT-SWAP	+0.0036%	8h	1,470.6	+0.099%	$180.7M	$1.34B	50x	as long as short
Gate ZEC_USDT	+0.0046%	8h	1,470.4	+0.084%	$50.8M	$186.4M	75x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0055% / S −0.0010%	1h	1,471	+0.128%	$372K	—	100x	as long as short
Lighter ZEC	+0.0096%	1h	1,472.3	+0.214%	$19.2M	$52.4M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,470	+0.059%	$175K	$1.9M	50x	as long as short
Katana Perps ZEC-USD	+0.0097%	8h	1,469.1	−0.003%	$13K	$834K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,470	+0.056%	$60K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,470.2	+0.074%	$2.6M	$6.8M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,471.8	+0.182%	$763.1M	$474.4M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,470.2	+0.070%	$15.0M	$32.7M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,470.6	+0.101%	$1.7M	$2.9M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,470.6	+0.101%	$683.7M	$2.46B	75x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,471.9	+0.187%	$721K	$8.3M	10x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,469.8	+0.043%	$894K	$39K	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,470.5	+0.094%	$231.6M	$837.9M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,470.5	+0.093%	$103.5M	$56.0M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,470.8	+0.114%	$162.9M	$301.8M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,469.6	+0.033%	—	$6.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,470.1	+0.066%	$513K	$9.2M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,470.2	+0.073%	$3.0M	$454K	10x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,470.8	+0.116%	$110K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,470.8	+0.114%	$345K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,471	+0.126%	$128K	$159K	20x	as long as short
Derive ZEC-PERPlong	+0.0100%	1h	1,469.1	long leg	$448K	$498K	6.7x
SunX ZEC-USDT	+0.0100%	8h	1,472.2	+0.210%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,470.4	+0.086%	$238K	$4.4M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,471.3	+0.146%	$2.5M	$23.1M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,471.2	+0.138%	$3.9M	$5.3M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,470.7	+0.109%	$3.3M	$6.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,470.8	+0.111%	$37K	$366K	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0121%	1h	1,471.5	+0.163%	$614K	$1.3M	25x	as long as short
RISEx ZEC/USDC	+0.0132%	1h	1,470.5	+0.094%	$825K	$1.2M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0416%	1h	1,471.6	+0.165%	$2.4M	$3.8M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0432%	1h	1,473.4	+0.289%	$3.8M	$10.6M	50x	as long as short
Lighter RH ZEC	+0.0488%	1h	1,472.6	+0.235%	$2.0M	$8.3M	10x	as long as short
Aftermath Perps ZECUSD	+0.0706%	1h	1,472.4	+0.220%	$46K	$47K	10x	as long as short