Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0138%/8h= −15.1% APRpaid last 24h −0.025%

Price spread now: Variational Omni against Pacifica+0.098%7-day average −0.025% · you sell dearer than you buy

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

Long on Pacifica Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.025%−$2 on $10k

Price spread, last 7 days−0.119%−$12 · spread now +0.098%, 7d avg −0.025%

Together, before fees−0.144%+ Points / potential airdropPacifica: Active · Variational Omni: Active · farm board−$14 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.122% dearer against Pacifica than usual: you sell high and buy low (spread +0.098% now, against its 7-day average of −0.025%): +$12 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 3.0 days. At the pace of the last 3 days (−0.025% in total) that is about 17 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica ZEC	1,467.7	0.0100	pay 0.0013% / 1h	20m 31s	$1.7M	$2.8M	10x
Short	Variational Omni ZEC	1,469.1	−0.0038	pay 0.0038% / 8h	7h 20m	$47.6M	$33.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Pacifica. 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 PacificabpFee Variational OmnibpOrdersPrice spread, now +0.098%Rate

Funding earned: −$28.99
Price spread: +0.098% → −0.025%: $12.24
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$24.75
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Pacifica: live order book, 4 min ago; Variational Omni: RFQ quote, 4 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 Pacifica live order book, 4 min ago	1.02 bp	5.5 bp −$6	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	2.76 bp	doesn't fit	6.5 bp −$65	15.1 bp −$1,509	doesn't fit

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	−0.3321%	1h	1,468.6	+0.064%	$34K	$275K	12x	as long as short
Kraken Futures PF_ZECUSD	−0.0343%	1h	1,469.6	+0.133%	$17.8M	$43.0M	25x	as long as short
BloFin ZEC-USDT	−0.0114%	8h	1,469.4	+0.114%	$29.8M	$72.9M	75x	as long as short
Ondo Perps ZEC-USD.P	−0.0114%	1h	1,467.4	−0.019%	$399K	$517K	5x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,467.6	−0.007%	$6K	$2K	10x	as long as short
Variational Omni ZECshort	−0.0038%	8h	1,469.1	+0.098%	$47.6M	$33.7M	—
dYdX ZEC-USD	0.0000%	1h	1,468.4	+0.051%	$414K	$103K	5x	as long as short
01 Exchange ZECUSD	0.0000%	1h	1,467.6	−0.005%	$8K	$9K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,469.5	+0.126%	$958K	$5.2M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,466.8	−0.062%	$83K	$405K	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	1,469.4	+0.114%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0017%	8h	1,469.3	+0.109%	$293K	$1.1M	20x	as long as short
Bybit ZECUSDT	+0.0051%	8h	1,467.2	−0.032%	$273.7M	$633.3M	75x	as long as short
Phoenix ZEC	+0.0054%	1h	1,469.3	+0.113%	$4.6M	$1.6M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0055% / S −0.0010%	1h	1,469	+0.091%	$377K	—	100x	as long as short
OKX ZEC-USDT-SWAP	+0.0056%	8h	1,467.4	−0.019%	$182.0M	$1.30B	50x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,467.2	−0.031%	$173K	$1.9M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,467.4	−0.017%	$19K	$838K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,467.3	−0.023%	$60K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,468.1	+0.028%	$2.6M	$6.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,468.5	+0.056%	$761.3M	$452.1M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,467.6	−0.009%	$14.9M	$31.7M	75x	as long as short
Pacifica ZEClong	+0.0100%	1h	1,467.7	long leg	$1.7M	$2.8M	10x
Binance ZECUSDT	+0.0100%	8h	1,467.2	−0.034%	$683.5M	$2.37B	75x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,469.6	+0.130%	$702K	$8.5M	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,467.5	−0.009%	$50.8M	$180.0M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,467.4	−0.018%	$229.9M	$827.3M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,467.3	−0.024%	$104.5M	$55.7M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,467.4	−0.018%	$163.4M	$292.2M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,467.7	0.000%	—	$100.2M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,466.9	−0.051%	$571K	$9.2M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,468.3	+0.044%	$3.0M	$447K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,467.3	−0.023%	$429K	$869K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,468.7	+0.070%	$110K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,467.3	−0.026%	$340K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,467.4	−0.018%	$128K	$159K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,467.6	−0.006%	$457K	$509K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,470.3	+0.181%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,469.4	+0.115%	$242K	$3.9M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,468.6	+0.062%	$2.5M	$21.2M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,469.6	+0.131%	$3.8M	$5.3M	50x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,471.7	+0.274%	$895K	$24K	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,467.8	+0.006%	$3.2M	$7.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,468.9	+0.084%	$54K	$168K	20x	as long as short
Lighter ZEC	+0.0216%	1h	1,468.9	+0.086%	$19.2M	$50.4M	20x	as long as short
RISEx ZEC/USDC	+0.0228%	1h	1,468.4	+0.052%	$852K	$1.1M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0305%	1h	1,470.3	+0.180%	$605K	$1.3M	25x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0448%	1h	1,472.4	+0.319%	$3.7M	$9.6M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0530%	1h	1,469.6	+0.134%	$2.5M	$3.9M	15x	as long as short
Aftermath Perps ZECUSD	+0.0762%	1h	1,469	+0.087%	$43K	$46K	10x	as long as short
Lighter RH ZEC	+0.0776%	1h	1,469.5	+0.125%	$2.0M	$8.2M	10x	as long as short