Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:03 UTC+0.0190%/8h= +20.8% APRpaid last 24h −0.027%

Price spread now: Perpl against Ondo Perps−0.029%7-day average +0.014% · you buy dearer than you sell

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

Long on Ondo Perps Short on Perpl

What this pair did over the last

the charts below follow

Funding, last 7 days−0.178%−$18 on $10k

Price spread, last 3 days (all we have)+0.598%+$60 · spread now −0.029%, 7d avg +0.014%

Together, before fees+0.420%+ Points / potential airdropOndo Perps: Active · Perpl: Active · farm board+$42 on $10k · with fees, hour by hour

Funding pays, the price is against you. Perpl is 0.043% cheaper against Ondo Perps than usual: you would sell low and buy high (spread −0.029% now, against its 7-day average of +0.014%). If the spread goes back, that is −$4 on $10k: about 18 hours of funding at the current rate (+$6 a day). Mind the row above: over the last 7 days funding on this pair cost −0.178%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps ZEC-USD.P	1,466.9	−0.0190	get 0.0024% / 1h	42m 24s	$398K	$521K	5x
Short	Perpl ZEC	1,466.5	0	get 0.0000% / 43m	12m 24s	$83K	$404K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Perpl against Ondo Perps. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Ondo PerpsbpFee PerplbpOrdersPrice spread, now −0.029%Rate

Funding earned: $39.98
Price spread: −0.029% → +0.014%: −$4.31
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Net: $16.87
Costs to cover: 0.188%
Break-even: 4.0 days

Slippage unknown: Ondo Perps: no order-book sample; Perpl: 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Perpl no order-book sample	—	—	—	—	—

Ondo Perps and Perpl: 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	−0.3310%	1h	1,462.9	−0.270%	$34K	$275K	12x	as long as short
Kraken Futures PF_ZECUSD	−0.0404%	1h	1,466.3	−0.042%	$17.9M	$44.7M	25x	as long as short
Ondo Perps ZEC-USD.Plong	−0.0190%	1h	1,466.9	long leg	$398K	$521K	5x
BloFin ZEC-USDT	−0.0098%	8h	1,467.1	+0.014%	$29.1M	$75.5M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,467.4	+0.035%	$6K	$2K	10x	as long as short
Bybit ZECUSDT	−0.0048%	8h	1,466.1	−0.055%	$271.8M	$673.8M	75x	as long as short
Variational Omni ZEC	−0.0022%	8h	1,467.6	+0.048%	$46.6M	$34.0M	—	as long as short
dYdX ZEC-USD	0.0000%	1h	1,467.9	+0.069%	$413K	$106K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,468.9	+0.136%	$891K	$5.6M	2.2x	as long as short
Perpl ZECshort	0.0000%	43m	1,466.5	−0.029%	$83K	$404K	10x

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit ZEC_USDC-PERPETUAL	0.0000%	1h	1,467.1	+0.014%	$597K	$1.3M	25x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,467.2	+0.020%	$5.2M	—	150x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0009% / S +0.0079%	1h	1,467	+0.005%	$542K	—	100x	as long as short
Orderly PERP_ZEC_USDC	+0.0014%	8h	1,466.7	−0.017%	$292K	$1.5M	20x	as long as short
OKX ZEC-USDT-SWAP	+0.0048%	8h	1,466.4	−0.035%	$176.3M	$1.36B	50x	as long as short
Gate ZEC_USDT	+0.0052%	8h	1,466.6	−0.022%	$49.9M	$184.3M	75x	as long as short
Bulk ZEC-USD	+0.0054%	1h	1,460.6	−0.432%	$899K	$25K	10x	as long as short
01 Exchange ZECUSD	+0.0056%	1h	1,467.2	+0.020%	$8K	$8K	5x	as long as short
Phoenix ZEC	+0.0075%	1h	1,468.6	+0.119%	$4.6M	$1.6M	10x	as long as short
Katana Perps ZEC-USD	+0.0096%	8h	1,466.7	−0.015%	$14K	$862K	10x	as long as short
Lighter ZEC	+0.0096%	1h	1,468.1	+0.081%	$19.0M	$52.4M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,466.5	−0.028%	$173K	$1.9M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,466	−0.062%	$60K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,467.2	+0.021%	$2.5M	$6.9M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,467.6	+0.048%	$760.5M	$490.9M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,466.6	−0.022%	$15.4M	$33.5M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,467	+0.010%	$1.7M	$3.0M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,466.6	−0.022%	$675.1M	$2.50B	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,466.5	−0.030%	$221.5M	$856.9M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,466.7	−0.014%	$103.2M	$56.1M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,466.6	−0.018%	$162.3M	$307.5M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,465.9	−0.065%	—	$6.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,468.2	+0.086%	$511K	$9.5M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,467.7	+0.053%	$3.0M	$481K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,467.8	+0.063%	$431K	$819K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,468.6	+0.112%	$110K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,466.6	−0.020%	$345K	$2.0M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,466.6	−0.022%	$128K	$160K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,464.8	−0.140%	$447K	$502K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,468.6	+0.118%	$3K	$1.3M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,466.4	−0.034%	$222K	$4.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,467.8	+0.058%	$2.5M	$24.1M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,467.5	+0.044%	$3.8M	$5.4M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,466.8	−0.006%	$3.3M	$6.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,466.9	+0.001%	$37K	$367K	20x	as long as short
RISEx ZEC/USDC	+0.0190%	1h	1,467	+0.009%	$844K	$1.8M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0244%	1h	1,468.2	+0.085%	$2.3M	$4.0M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0424%	1h	1,468.8	+0.126%	$3.7M	$11.7M	50x	as long as short
Lighter RH ZEC	+0.0440%	1h	1,469.4	+0.172%	$2.0M	$8.2M	10x	as long as short
Arcus ZEC-USD	+0.0444%	1h	1,467.8	+0.064%	$733K	$8.1M	10x	as long as short
Aftermath Perps ZECUSD	+0.0537%	1h	1,467.3	+0.025%	$41K	$34K	10x	as long as short