Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0043%/8h= −4.7% APRpaid last 24h +0.037%

Price spread now: OKX against Kraken Futures−0.108%55s7-day average −0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$310.313% of the position

Long on Kraken Futures Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.105%+$10 on $10k

Price spread, last 4 days (all we have)−0.194%−$19 · spread now −0.108%, 7d avg −0.037%

Together, before fees−0.090%−$9 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and OKX is 0.071% cheaper against Kraken Futures than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.037%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.105%, so the current rate has only just turned against you. The two prices were read 55 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	Kraken Futures PF_ZECUSD	1,506.5	0.0143	pay 0.0018% / 1h	12m 22s	$18.4M	$45.9M	25x
Short	OKX ZEC-USDT-SWAP	1,504.9	0.0100	get 0.0100% / 8h	2h 12m	$182.8M	$1.30B	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.108%Rate

Funding earned: −$8.97
Price spread: −0.108% → −0.037%: −$7.14
Slippage, 4 orders: −$11.3
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$47.41
Costs to cover: 0.313%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 2 min ago; OKX: live order book, 2 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, 2 min ago	2.81 bp	10.0 bp −$10	14.1 bp −$141	26.2 bp −$2,616	125.6 bp −$62.8K
Sell OKX live order book, 2 min ago	0.03 bp	5.0 bp −$5	7.2 bp −$72	15.0 bp −$1,502	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	1,488.7	−1.183%	$34K	$273K	12x	as long as short
Bulk ZEC-USD	−0.0279%	1h	1,512.6	+0.406%	$914K	$15K	10x	as long as short
BloFin ZEC-USDT	−0.0138%	8h	1,507.1	+0.039%	$30.1M	$74.2M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,512.8	+0.416%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,506.2	−0.019%	$419K	$36K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,509.9	+0.225%	$1.7M	$4.6M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,505.4	−0.070%	$86K	$239K	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	0.0000%	1h	1,507.2	+0.050%	$714K	$1.4M	25x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,505.2	−0.087%	$5.3M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0066%	8h	1,505.1	−0.091%	$313K	$1.0M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange ZECUSD	+0.0080%	1h	1,506.5	+0.001%	$8K	$7K	5x	as long as short
Phoenix ZEC	+0.0092%	1h	1,512.3	+0.385%	$4.8M	$1.3M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,505.4	−0.074%	$148K	$1.7M	50x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,506.7	+0.016%	$2.9M	$6.5M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,506.6	+0.007%	$787.4M	$435.6M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,505.1	−0.090%	$14.6M	$29.3M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,506.8	+0.023%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,505.4	−0.074%	$699.7M	$2.25B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,505	−0.101%	$276.6M	$619.3M	75x	as long as short
OKX ZEC-USDT-SWAPshort	+0.0100%	8h	1,504.9	−0.108%	$182.8M	$1.30B	50x
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,504.3	−0.145%	$411K	$489K	5x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,505.2	−0.089%	$54.4M	$180.0M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,505.3	−0.080%	$226.3M	$779.7M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,505.8	−0.046%	$103.5M	$55.5M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,505.5	−0.064%	$162.3M	$282.2M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,504.8	−0.109%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,519.3	+0.849%	$49.5M	$32.8M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,512.8	+0.417%	$578K	$8.7M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,512.5	+0.400%	$3.1M	$475K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,512.4	+0.395%	$419K	$929K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,510.9	+0.295%	$57K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,505	−0.099%	$367K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,505.6	−0.059%	$166K	$184K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,504.2	−0.149%	$459K	$506K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,509.1	+0.174%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,506.4	−0.004%	$249K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,505.4	−0.074%	$2.6M	$19.6M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,507.5	+0.064%	$4.0M	$5.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,507.2	+0.049%	$62K	$43K	10x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,505.7	−0.054%	$14K	$847K	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,506.1	−0.025%	$2.8M	$7.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,505.5	−0.066%	$46K	$150K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0105% / S −0.0078%	1h	1,505.1	−0.093%	$404K	—	100x	as long as short
Kraken Futures PF_ZECUSDlong	+0.0143%	1h	1,506.5	long leg	$18.4M	$45.9M	25x
RISEx ZEC/USDC	+0.0154%	1h	1,506.1	−0.023%	$941K	$1.1M	10x	as long as short
Lighter RH ZEC	+0.0192%	1h	1,508.3	+0.117%	$2.1M	$7.3M	10x	as long as short
Lighter ZEC	+0.0224%	1h	1,508.1	+0.106%	$19.6M	$45.6M	20x	as long as short
Backpack ZEC_USDC_PERP	+0.0434%	1h	1,506.2	−0.019%	$2.3M	$3.8M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0496%	1h	1,507.8	+0.084%	$3.7M	$9.9M	50x	as long as short
Arcus ZEC-USD	+0.0508%	1h	1,506.3	−0.014%	$613K	$8.5M	10x	as long as short
Aftermath Perps ZECUSD	+0.0510%	1h	1,504.3	−0.142%	$51K	$61K	10x	as long as short