Funding arb · Price arb /

ZEC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0003%/8h= −0.3% APRpaid last 24h −0.016%

Price spread now: OKX against Nado+0.087%7-day average −0.041% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$8as in the Price arb table

costs, in and out, $10k−$200.204% of the position

Long on Nado Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.041%−$4 on $10k

Price spread, last 7 days−0.096%−$10 · spread now +0.087%, 7d avg −0.041%

Together, before fees−0.138%+ Points / potential airdropNado: Active · farm board−$14 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: OKX is 0.129% dearer against Nado than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of −0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado ZEC-PERP	1,472.9	0.0100	pay 0.0012% / 1h	22m 47s	$2.6M	$6.6M	10x
Short	OKX ZEC-USDT-SWAP	1,474.2	0.0097	get 0.0097% / 8h	6h 22m	$181.5M	$1.27B	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Nado. 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 NadobpFee OKXbpOrdersPrice spread, now +0.087%Rate

Funding earned: −$0.63
Price spread: +0.087% → −0.041%: $12.87
Slippage, 4 orders: −$3.4
Fee Nado: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$8.16
Costs to cover: 0.204%
Break-even: never at this rate

Slippage from Nado: live order book, 1 min ago; OKX: live order book, 1 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 Nado live order book, 1 min ago	0.03 bp	4.4 bp −$4	11.3 bp −$113	45.0 bp −$4,504	doesn't fit
Sell OKX live order book, 1 min ago	0.03 bp	6.3 bp −$6	8.4 bp −$84	17.1 bp −$1,708	doesn't fit

ZEC on 50 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	−0.3678%	1h	1,459.3	−0.927%	$34K	$274K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,472.6	−0.022%	$6K	$1K	10x	as long as short
Ondo Perps ZEC-USD.P	−0.0029%	1h	1,471.4	−0.105%	$400K	$517K	5x	as long as short
Kraken Futures PF_ZECUSD	−0.0002%	1h	1,472.8	−0.012%	$18.1M	$43.8M	25x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,473.2	+0.020%	$415K	$54K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,473.1	+0.013%	$975K	$4.9M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,472.5	−0.033%	$84K	$254K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,472.2	−0.052%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0028%	8h	1,472.2	−0.053%	$294K	$1.0M	20x	as long as short
Variational Omni ZEC	+0.0048%	8h	1,474.4	+0.100%	$48.1M	$32.8M	—	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX ZEC/USD [WBTC.b-USDC]	L +0.0055% / S −0.0009%	1h	1,472.2	−0.050%	$385K	—	100x	as long as short
Phoenix ZEC	+0.0070%	1h	1,476.1	+0.215%	$4.7M	$1.5M	10x	as long as short
01 Exchange ZECUSD	+0.0072%	1h	1,472.7	−0.019%	$8K	$9K	5x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,472.4	−0.040%	$173K	$1.8M	50x	as long as short
OKX ZEC-USDT-SWAPshort	+0.0097%	8h	1,474.2	+0.087%	$181.5M	$1.27B	50x
Katana Perps ZEC-USD	+0.0100%	8h	1,472.2	−0.049%	$14K	$842K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,472.4	−0.038%	$61K	$39K	10x	as long as short
Nado ZEC-PERPlong	+0.0100%	1h	1,472.9	long leg	$2.6M	$6.6M	10x
Hyperliquid ZEC	+0.0100%	1h	1,475.6	+0.180%	$768.2M	$442.7M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,472.9	−0.004%	$14.8M	$30.6M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,472.8	−0.013%	$1.7M	$2.7M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,473.9	+0.063%	$681.2M	$2.32B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,473.6	+0.045%	$271.7M	$617.3M	75x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,476.6	+0.247%	$896K	$18K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,473.6	+0.041%	$50.3M	$176.0M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,473.4	+0.032%	$215.9M	$800.4M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,473.4	+0.030%	$103.5M	$56.4M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,474.4	+0.097%	$163.8M	$283.4M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,473.9	+0.064%	—	$100.5M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,475.3	+0.162%	$575K	$9.0M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,473.8	+0.055%	$3.0M	$443K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,474.6	+0.110%	$429K	$898K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,473.1	+0.013%	$71K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,472.1	−0.057%	$346K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,472.3	−0.045%	$128K	$160K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,470.7	−0.151%	$457K	$511K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,474.2	+0.088%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,472.2	−0.048%	$243K	$3.7M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,472.3	−0.047%	$2.5M	$18.7M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,473.2	+0.019%	$3.9M	$5.4M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,473.1	+0.014%	$3.2M	$7.1M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,472.3	−0.043%	$48K	$162K	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0214%	1h	1,473	+0.002%	$613K	$1.3M	25x	as long as short
Arcus ZEC-USD	+0.0254%	1h	1,474.1	+0.076%	$690K	$8.6M	10x	as long as short
Lighter ZEC	+0.0272%	1h	1,475.9	+0.203%	$19.3M	$48.2M	20x	as long as short
Lighter RH ZEC	+0.0296%	1h	1,476.1	+0.214%	$2.1M	$7.1M	10x	as long as short
RISEx ZEC/USDC	+0.0374%	1h	1,473.1	+0.011%	$865K	$1.0M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0472%	1h	1,473.6	+0.043%	$3.6M	$9.4M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0484%	1h	1,472.8	−0.010%	$2.5M	$3.9M	15x	as long as short
Aftermath Perps ZECUSD	+0.0737%	1h	1,474.1	+0.078%	$44K	$46K	10x	as long as short