Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0049%/8h= −5.3% APRpaid last 24h +0.018%

Price spread now: Bybit against Kraken Futures+0.893%7-day average −0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$8as in the Funding arb table

Net, price: spread back to 7d avg − costs+$54as in the Price arb table

costs, in and out, $10k−$390.393% of the position

Long on Kraken Futures Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.308%+$31 on $10k

Price spread, last 4 days (all we have)−1.201%−$120 · spread now +0.893%, 7d avg −0.043%

Together, before fees−0.892%−$89 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.937% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.893% now, against its 7-day average of −0.043%): +$94 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2 months. Mind the row above: over the last 7 days funding on this pair paid +0.308%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ZECUSD	1,494.2	0.0144	pay 0.0018% / 1h	20m 38s	$18.2M	$45.8M	25x
Short	Bybit ZECUSDT	1,507.6	0.0095	get 0.0095% / 8h	2h 20m	$273.7M	$606.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Kraken Futures. 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 Kraken FuturesbpFee BybitbpOrdersPrice spread, now +0.893%Rate

Funding earned: −$10.21
Price spread: +0.893% → −0.043%: $93.66
Slippage, 4 orders: −$18.28
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $44.17
Costs to cover: 0.393%
Break-even: from the start

Slippage from Kraken Futures: live order book, 3 min ago; Bybit: live order book, 4 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 Kraken Futures live order book, 3 min ago	2.54 bp	12.8 bp −$13	16.6 bp −$166	25.5 bp −$2,552	101.8 bp −$50.9K
Sell Bybit live order book, 4 min ago	0.03 bp	6.5 bp −$7	8.0 bp −$80	17.3 bp −$1,734	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	−0.3243%	1h	1,493	−0.081%	$34K	$273K	12x	as long as short
BloFin ZEC-USDT	−0.0108%	8h	1,493.9	−0.024%	$30.3M	$72.6M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,506.1	+0.795%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,503.7	+0.632%	$418K	$36K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,496.7	+0.168%	$1.6M	$4.5M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,494.9	+0.047%	$85K	$239K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0007%	1h	1,495.1	+0.061%	$5.3M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0063%	8h	1,494.4	+0.012%	$299K	$896K	20x	as long as short
01 Exchange ZECUSD	+0.0064%	1h	1,506.3	+0.805%	$8K	$7K	5x	as long as short
Phoenix ZEC	+0.0092%	1h	1,475.1	−1.279%	$4.7M	$1.3M	10x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ZECUSDTshort	+0.0095%	8h	1,507.6	+0.893%	$273.7M	$606.6M	75x
Popdex ZECUSDT	+0.0096%	1h	1,506.1	+0.794%	$143K	$1.7M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,506.4	+0.813%	$62K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,495	+0.056%	$2.8M	$6.4M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,506.1	+0.795%	$785.3M	$426.0M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,505.4	+0.751%	$14.8M	$28.8M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,504.7	+0.700%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,506.2	+0.801%	$699.1M	$2.20B	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,507.7	+0.900%	$181.4M	$1.27B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,509.9	+1.050%	$403K	$445K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,479.3	−1.000%	$894K	$15K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,506	+0.788%	$54.5M	$174.3M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,505.1	+0.730%	$232.8M	$770.2M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,506.3	+0.806%	$106.6M	$53.2M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,506.4	+0.813%	$169.6M	$272.1M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,503.6	+0.629%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,494.7	+0.031%	$48.9M	$32.5M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,479.1	−1.014%	$558K	$8.5M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,481.5	−0.853%	$3.0M	$462K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,481.5	−0.852%	$410K	$927K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,484	−0.681%	$50K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,495.8	+0.106%	$369K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,494.8	+0.041%	$164K	$183K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,493.6	−0.044%	$456K	$506K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,497.2	+0.202%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,494.2	+0.001%	$247K	$3.3M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,492.3	−0.127%	$2.5M	$19.1M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,494.3	+0.008%	$3.9M	$4.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,505.6	+0.764%	$13K	$830K	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0101% / S −0.0053%	1h	1,494.8	+0.037%	$449K	—	100x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,505.6	+0.761%	$2.8M	$8.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,495.1	+0.062%	$45K	$153K	20x	as long as short
Lighter RH ZEC	+0.0120%	1h	1,506.3	+0.811%	$2.2M	$7.2M	10x	as long as short
Kraken Futures PF_ZECUSDlong	+0.0144%	1h	1,494.2	long leg	$18.2M	$45.8M	25x
RISEx ZEC/USDC	+0.0154%	1h	1,506.1	+0.795%	$948K	$1.1M	10x	as long as short
Lighter ZEC	+0.0184%	1h	1,505.5	+0.755%	$19.7M	$44.3M	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0373%	1h	1,495.5	+0.085%	$636K	$1.3M	25x	as long as short
Backpack ZEC_USDC_PERP	+0.0411%	1h	1,495.6	+0.095%	$2.4M	$3.7M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0496%	1h	1,496.2	+0.132%	$3.8M	$9.5M	50x	as long as short
Arcus ZEC-USD	+0.0508%	1h	1,505.3	+0.742%	$639K	$8.3M	10x	as long as short
Aftermath Perps ZECUSD	+0.0709%	1h	1,480.6	−0.909%	$45K	$49K	10x	as long as short