Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.3098%/8h= −339.3% APRpaid last 24h −0.402%

Price spread now: Injective against Orderly+0.065%58s7-day average +0.072% · you sell dearer than you buy

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

Long on Orderly Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−1.955%−$196 on $10k

Price spread, last 3 days (all we have)+0.200%+$20 · spread now +0.065%, 7d avg +0.072%

Together, before fees−1.755%−$175 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.072%, so right now this pair is about funding alone: −$93 a day on $10k at the current rate. The two prices were read 58 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -1.955% in total (about -102.0% 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	Orderly PERP_ZEC_USDC	1,471.3	0.0009	pay 0.0009% / 8h	57m 34s	$294K	$1.4M	20x
Short	Injective ZEC/USDC PERP	1,472.3	−0.3089	pay 0.0386% / 1h	57m 34s	$34K	$275K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.065%Rate

Funding earned: −$650.63
Price spread: +0.065% → +0.072%: −$0.72
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$657.37
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Injective: live order book, 21 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 Injective live order book, 21 min ago	64.22 bp	doesn't fit	doesn't fit	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 PERPshort	−0.3089%	1h	1,472.3	+0.065%	$34K	$275K	12x
Ondo Perps ZEC-USD.P	−0.0272%	1h	1,472.6	+0.088%	$398K	$517K	5x	as long as short
Kraken Futures PF_ZECUSD	−0.0225%	1h	1,473.6	+0.158%	$17.9M	$44.9M	25x	as long as short
BloFin ZEC-USDT	−0.0109%	8h	1,473	+0.115%	$29.5M	$75.7M	75x	as long as short
Bybit ZECUSDT	−0.0081%	8h	1,473.1	+0.120%	$273.1M	$666.0M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,474.1	+0.189%	$6K	$2K	10x	as long as short
Variational Omni ZEC	−0.0037%	8h	1,468.5	−0.193%	$46.8M	$33.5M	—	as long as short
dYdX ZEC-USD	0.0000%	1h	1,473.7	+0.161%	$415K	$104K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,472.1	+0.056%	$898K	$5.6M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,472.2	+0.061%	$84K	$404K	10x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,472.1	+0.053%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDClong	+0.0009%	8h	1,471.3	long leg	$294K	$1.4M	20x
GMX ZEC/USD [WBTC.b-USDC]	L +0.0038% / S +0.0009%	1h	1,471.9	+0.043%	$366K	—	100x	as long as short
SoDEX ZEC-USD	+0.0038%	1h	1,473.2	+0.131%	$226K	$4.5M	10x	as long as short
OKX ZEC-USDT-SWAP	+0.0040%	8h	1,473.4	+0.141%	$179.8M	$1.35B	50x	as long as short
01 Exchange ZECUSD	+0.0040%	1h	1,473.8	+0.171%	$8K	$8K	5x	as long as short
Gate ZEC_USDT	+0.0046%	8h	1,473.9	+0.173%	$50.3M	$183.5M	75x	as long as short
Phoenix ZEC	+0.0075%	1h	1,470.8	−0.035%	$4.6M	$1.6M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,473.3	+0.133%	$177K	$1.9M	50x	as long as short
Katana Perps ZEC-USD	+0.0097%	8h	1,473.8	+0.166%	$12K	$828K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,473.4	+0.144%	$61K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,473.5	+0.148%	$2.6M	$6.8M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,474.9	+0.244%	$765.4M	$479.4M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,473.8	+0.169%	$15.6M	$32.5M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,474.2	+0.198%	$1.7M	$2.9M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,473.7	+0.163%	$681.1M	$2.47B	75x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,474.4	+0.208%	$715K	$8.3M	10x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,471.1	−0.013%	$908K	$26K	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,473.7	+0.160%	$225.6M	$827.4M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,473.8	+0.169%	$104.2M	$55.8M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,473.8	+0.169%	$163.1M	$303.9M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,472.9	+0.107%	—	$6.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,470.8	−0.033%	$513K	$9.2M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,471	−0.023%	$3.0M	$482K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,471.1	−0.014%	$431K	$827K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,470.9	−0.029%	$110K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,471.8	+0.033%	$347K	$1.9M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,471.6	+0.021%	$128K	$159K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,469.9	−0.099%	$448K	$502K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,475	+0.251%	$3K	$1.2M	20x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,471.7	+0.023%	$2.5M	$23.3M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,473.8	+0.169%	$3.8M	$5.3M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,473.9	+0.178%	$3.3M	$6.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,474	+0.186%	$37K	$366K	20x	as long as short
RISEx ZEC/USDC	+0.0132%	1h	1,473.9	+0.177%	$835K	$1.3M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0135%	1h	1,472.4	+0.073%	$614K	$1.3M	25x	as long as short
Lighter ZEC	+0.0176%	1h	1,475.3	+0.272%	$19.1M	$52.1M	20x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0432%	1h	1,475.6	+0.291%	$3.8M	$11.5M	50x	as long as short
Lighter RH ZEC	+0.0464%	1h	1,475.8	+0.304%	$2.0M	$8.2M	10x	as long as short
Aftermath Perps ZECUSD	+0.0618%	1h	1,471.9	+0.040%	$41K	$34K	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0651%	1h	1,474.7	+0.229%	$2.4M	$3.7M	15x	as long as short