Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0455%/8h= −49.8% APRpaid last 24h −0.022%

Price spread now: Kraken Futures against OKX+0.011%7-day average +0.042% · you sell dearer than you buy

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$290.290% of the position

Long on OKX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.126%−$13 on $10k

Price spread, last 3 days (all we have)+0.476%+$48 · spread now +0.011%, 7d avg +0.042%

Together, before fees+0.350%+$35 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Kraken Futures is 0.031% cheaper against OKX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.042%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.126% in total (about -6.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ZEC-USDT-SWAP	1,463.3	0.0050	pay 0.0050% / 8h	1h 28m	$176.1M	$1.35B	50x
Short	Kraken Futures PF_ZECUSD	1,463.4	−0.0405	pay 0.0051% / 1h	28m 49s	$17.8M	$45.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against OKX. 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 OKXbpFee Kraken FuturesbpOrdersPrice spread, now +0.011%Rate

Funding earned: −$95.56
Price spread: +0.011% → +0.042%: −$3.08
Slippage, 4 orders: −$8.98
Fee OKX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$127.62
Costs to cover: 0.290%
Break-even: never at this rate

Slippage from OKX: live order book, 5 min ago; Kraken Futures: live order book, 5 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 OKX live order book, 5 min ago	0.03 bp	6.3 bp −$6	9.2 bp −$92	18.2 bp −$1,821	doesn't fit
Sell Kraken Futures live order book, 5 min ago	0.62 bp	8.3 bp −$8	13.4 bp −$134	21.3 bp −$2,131	111.6 bp −$55.8K

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	−0.3310%	1h	1,463.6	+0.023%	$34K	$275K	12x	as long as short
Kraken Futures PF_ZECUSDshort	−0.0405%	1h	1,463.4	+0.011%	$17.8M	$45.0M	25x
Ondo Perps ZEC-USD.P	−0.0210%	1h	1,460.2	−0.210%	$397K	$513K	5x	as long as short
BloFin ZEC-USDT	−0.0094%	8h	1,463.4	+0.008%	$29.3M	$75.3M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,462.9	−0.023%	$6K	$2K	10x	as long as short
Bulk ZEC-USD	−0.0065%	1h	1,462.1	−0.080%	$902K	$27K	10x	as long as short
Bybit ZECUSDT	−0.0054%	8h	1,462.6	−0.047%	$271.3M	$673.2M	75x	as long as short
Variational Omni ZEC	−0.0026%	8h	1,463	−0.022%	$46.5M	$33.7M	—	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L −0.0017% / S +0.0093%	1h	1,463.4	+0.012%	$541K	—	100x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,463.9	+0.042%	$412K	$104K	5x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXZECPERP	0.0000%	8h	1,465.3	+0.141%	$885K	$5.6M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,463.6	+0.020%	$83K	$404K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,463.7	+0.032%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0013%	8h	1,463.5	+0.016%	$292K	$1.4M	20x	as long as short
ApeX Omni ZECUSDT	+0.0029%	1h	1,462.7	−0.039%	$429K	$821K	50x	as long as short
Gate ZEC_USDT	+0.0048%	8h	1,462.9	−0.027%	$49.8M	$185.4M	75x	as long as short
OKX ZEC-USDT-SWAPlong	+0.0050%	8h	1,463.3	long leg	$176.1M	$1.35B	50x
01 Exchange ZECUSD	+0.0064%	1h	1,463.8	+0.036%	$8K	$8K	5x	as long as short
Phoenix ZEC	+0.0075%	1h	1,464	+0.047%	$4.6M	$1.6M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,463.1	−0.011%	$173K	$1.9M	50x	as long as short
Katana Perps ZEC-USD	+0.0096%	8h	1,463.5	+0.018%	$14K	$844K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,463.6	+0.021%	$60K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,464.6	+0.090%	$2.5M	$6.8M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,464.2	+0.064%	$759.1M	$485.1M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,463.2	−0.007%	$15.6M	$33.0M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,464	+0.048%	$1.7M	$3.0M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,463.2	−0.007%	$674.1M	$2.49B	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,463.1	−0.010%	$221.1M	$863.4M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,463	−0.020%	$103.6M	$56.2M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,463.5	+0.016%	$161.9M	$305.9M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,463.4	+0.008%	—	$103.2M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,462.1	−0.079%	$510K	$9.5M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,462.4	−0.057%	$3.0M	$481K	10x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,464.1	+0.059%	$110K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,463.1	−0.012%	$344K	$1.9M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,463.2	−0.007%	$127K	$160K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,462	−0.090%	$447K	$502K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,465.9	+0.178%	$3K	$1.3M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,463.3	+0.001%	$222K	$4.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,462.4	−0.057%	$2.5M	$24.0M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,463.6	+0.019%	$3.8M	$5.3M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,463.3	−0.001%	$3.2M	$6.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,463.9	+0.046%	$36K	$366K	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0120%	1h	1,464.3	+0.071%	$596K	$1.3M	25x	as long as short
Lighter ZEC	+0.0144%	1h	1,465	+0.116%	$19.0M	$52.6M	20x	as long as short
Backpack ZEC_USDC_PERP	+0.0180%	1h	1,464.1	+0.059%	$2.3M	$3.8M	15x	as long as short
RISEx ZEC/USDC	+0.0190%	1h	1,463.8	+0.037%	$842K	$1.4M	10x	as long as short
Lighter RH ZEC	+0.0392%	1h	1,465.4	+0.146%	$2.0M	$8.3M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0424%	1h	1,465.8	+0.170%	$3.7M	$11.6M	50x	as long as short
Arcus ZEC-USD	+0.0444%	1h	1,464.9	+0.110%	$731K	$8.2M	10x	as long as short
Aftermath Perps ZECUSD	+0.0556%	1h	1,464.4	+0.078%	$40K	$34K	10x	as long as short