Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0037%/8h= +4.1% APRpaid last 24h +0.019%

Price spread now: Bullet against Orderly+0.007%7-day average −0.020% · you sell dearer than you buy

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

Long on Orderly Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.080%+$8 on $10k

Price spread, last 4 days (all we have)−0.363%−$36 · spread now +0.007%, 7d avg −0.020%

Together, before fees−0.283%−$28 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Bullet is 0.027% dearer against Orderly than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_ZEC_USDC	1,479.3	0.0063	pay 0.0063% / 8h	2h 22m	$296K	$896K	20x
Short	Bullet ZEC-USD	1,479.4	0.0100	get 0.0013% / 1h	22m 35s	$163K	$183K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against Orderly. 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 OrderlybpFee BulletbpOrdersPrice spread, now +0.007%Rate

Funding earned: $7.83
Price spread: +0.007% → −0.020%: $2.68
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$3.49
Costs to cover: 0.140%
Break-even: 10.1 days

Slippage unknown: Orderly: no order-book sample; Bullet: live order book, 26 min ago. 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 Orderly no order-book sample	—	—	—	—	—
Sell Bullet live order book, 26 min ago	1.71 bp	6.1 bp −$6	9.3 bp −$93	doesn't fit	doesn't fit

Orderly: 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	−0.3243%	1h	1,461.8	−1.186%	$34K	$272K	12x	as long as short
BloFin ZEC-USDT	−0.0098%	8h	1,482.6	+0.224%	$30.1M	$71.9M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,481.1	+0.122%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,482.4	+0.209%	$412K	$37K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,480.5	+0.081%	$1.6M	$4.5M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,479.1	−0.014%	$85K	$239K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0007%	1h	1,479.5	+0.010%	$5.3M	—	150x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0050%	1h	1,480.3	+0.063%	$629K	$1.3M	25x	as long as short
Orderly PERP_ZEC_USDClong	+0.0063%	8h	1,479.3	long leg	$296K	$896K	20x
01 Exchange ZECUSD	+0.0064%	1h	1,484.4	+0.341%	$8K	$7K	5x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix ZEC	+0.0092%	1h	1,475.1	−0.285%	$4.7M	$1.3M	10x	as long as short
Bybit ZECUSDT	+0.0093%	8h	1,484.3	+0.335%	$264.6M	$598.6M	75x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,484.4	+0.344%	$174K	$1.6M	50x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0100% / S −0.0054%	1h	1,479.3	−0.004%	$441K	—	100x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,484.1	+0.320%	$11K	$823K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,483.2	+0.261%	$61K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,479.9	+0.036%	$2.9M	$6.3M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,481.3	+0.134%	$773.0M	$422.2M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,483.9	+0.309%	$14.6M	$28.2M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,482.7	+0.228%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,484	+0.319%	$688.8M	$2.18B	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,484.1	+0.325%	$180.3M	$1.23B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,474.6	−0.319%	$400K	$433K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,479.3	−0.003%	$894K	$15K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,483.5	+0.283%	$53.7M	$172.8M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,483.7	+0.297%	$229.3M	$766.7M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,483.3	+0.269%	$105.7M	$53.0M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,484	+0.316%	$167.4M	$269.2M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,483.2	+0.261%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,473.7	−0.381%	$48.3M	$32.4M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,475	−0.293%	$556K	$8.5M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,477.9	−0.094%	$3.0M	$462K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,472.9	−0.432%	$407K	$926K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,479.8	+0.033%	$50K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,479.5	+0.012%	$365K	$1.7M	10x	as long as short
Bullet ZEC-USDshort	+0.0100%	1h	1,479.4	+0.007%	$163K	$183K	20x
Derive ZEC-PERP	+0.0100%	1h	1,478.6	−0.048%	$451K	$506K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,481.6	+0.155%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,480.1	+0.055%	$245K	$3.2M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,481	+0.114%	$2.5M	$18.9M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,481.5	+0.146%	$3.9M	$4.8M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,484	+0.316%	$2.8M	$7.8M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,479.6	+0.016%	$45K	$153K	20x	as long as short
Lighter RH ZEC	+0.0120%	1h	1,484.2	+0.332%	$2.1M	$7.1M	10x	as long as short
Kraken Futures PF_ZECUSD	+0.0145%	1h	1,480.1	+0.050%	$18.1M	$45.7M	25x	as long as short
RISEx ZEC/USDC	+0.0154%	1h	1,484	+0.314%	$937K	$1.1M	10x	as long as short
Lighter ZEC	+0.0192%	1h	1,483.9	+0.308%	$19.6M	$44.1M	20x	as long as short
Backpack ZEC_USDC_PERP	+0.0393%	1h	1,482.5	+0.213%	$2.4M	$3.7M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0496%	1h	1,482.2	+0.197%	$3.7M	$9.3M	50x	as long as short
Arcus ZEC-USD	+0.0508%	1h	1,484	+0.318%	$656K	$8.2M	10x	as long as short
Aftermath Perps ZECUSD	+0.0707%	1h	1,476	−0.224%	$45K	$49K	10x	as long as short