Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0025%/8h= +2.7% APRpaid last 24h +0.020%

Price spread now: Popdex against Orderly+0.036%7-day average −0.012% · you sell dearer than you buy

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

Long on Orderly Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.083%+$8 on $10k

Price spread, last 4 days (all we have)−0.707%−$71 · spread now +0.036%, 7d avg −0.012%

Together, before fees−0.624%−$62 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 Popdex is 0.048% dearer against Orderly than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_ZEC_USDC	1,504.5	0.0071	pay 0.0071% / 8h	5h 57m	$304K	$856K	20x
Short	Popdex ZECUSDT	1,505.1	0.0096	get 0.0012% / 1h	57m 26s	$170K	$1.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now +0.036%Rate

Funding earned: $5.16
Price spread: +0.036% → −0.012%: $4.76
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$2.48
Costs to cover: 0.124%
Break-even: 10.4 days

Slippage unknown: Orderly: no order-book sample; Popdex: live order book, 5 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 Popdex live order book, 5 min ago	1.96 bp	5.5 bp −$5	11.7 bp −$117	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 50 exchanges

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	−0.4130%	1h	1,480	−1.631%	$36K	$267K	12x	as long as short
BloFin ZEC-USDT	−0.0190%	8h	1,505	+0.029%	$31.9M	$73.6M	75x	as long as short
Ondo Perps ZEC-USD.P	−0.0174%	1h	1,504.1	−0.028%	$408K	$499K	5x	as long as short
Aftermath Perps ZECUSD	−0.0097%	1h	1,504.2	−0.023%	$46K	$58K	10x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,503.6	−0.061%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,504	−0.035%	$414K	$37K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,505.2	+0.045%	$1.5M	$4.9M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,503.5	−0.067%	$63K	$300K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,503.8	−0.047%	$5.4M	—	150x	as long as short
01 Exchange ZECUSD	+0.0024%	1h	1,505.3	+0.049%	$8K	$6K	5x	as long as short

Show all 50 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx ZEC/USDC	+0.0032%	1h	1,504.1	−0.028%	$909K	$1.3M	10x	as long as short
Orderly PERP_ZEC_USDClong	+0.0071%	8h	1,504.5	long leg	$304K	$856K	20x
Lighter ZEC	+0.0096%	1h	1,506.2	+0.112%	$20.0M	$38.9M	20x	as long as short
Lighter RH ZEC	+0.0096%	1h	1,506.5	+0.130%	$2.0M	$7.0M	10x	as long as short
Popdex ZECUSDTshort	+0.0096%	1h	1,505.1	+0.036%	$170K	$1.5M	50x
Aster ZECUSDT	+0.0097%	8h	1,504.7	+0.012%	$14.1M	$26.9M	75x	as long as short
Kraken Futures PF_ZECUSD	+0.0099%	1h	1,504.8	+0.019%	$18.5M	$46.2M	25x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,505.1	+0.040%	$62K	$14K	10x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,504.6	+0.002%	$25K	$880K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,505.7	+0.075%	$3.1M	$7.1M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,505.5	+0.068%	$789.8M	$431.7M	10x	as long as short
Pacifica ZEC	+0.0100%	1h	1,505.5	+0.065%	$1.7M	$1.9M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,504.9	+0.023%	$708.2M	$2.20B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,504.8	+0.018%	$276.4M	$589.9M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,504.7	+0.015%	$185.8M	$1.31B	50x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,505.8	+0.082%	$592K	$8.4M	10x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,504.2	−0.025%	$780K	$158K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,504.8	+0.019%	$62.9M	$170.8M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,504.9	+0.027%	$177.8M	$821.8M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,505.1	+0.038%	$105.5M	$53.5M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,504.9	+0.025%	$164.3M	$280.1M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,505	+0.033%	—	$122.6M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,505.3	+0.049%	$2.2M	$3.7M	15x	as long as short
Variational Omni ZEC	+0.0100%	8h	1,503.5	−0.070%	$49.4M	$34.2M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,503.8	−0.050%	$549K	$8.7M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,505.7	+0.081%	$3.1M	$599K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,504.2	−0.019%	$411K	$948K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,504.3	−0.017%	$112K	$4.5M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,504.7	+0.012%	$371K	$1.6M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,504.8	+0.016%	$167K	$188K	20x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,505.8	+0.083%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,503.6	−0.058%	$257K	$3.6M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,503.9	−0.039%	$2.7M	$20.5M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,504.9	+0.025%	$4.0M	$4.8M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,505.2	+0.048%	$2.7M	$7.1M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,503.8	−0.051%	$37K	$163K	20x	as long as short
Phoenix ZEC	+0.0139%	1h	1,506.5	+0.129%	$4.8M	$1.3M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0160%	1h	1,504.3	−0.013%	$685K	$1.3M	25x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0185% / S −0.0195%	1h	1,504.7	+0.009%	$351K	—	100x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0352%	1h	1,505.8	+0.087%	$3.9M	$9.5M	50x	as long as short