Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:55 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.002%

Price spread now: Bybit against Perpl−0.005%7-day average +0.021% · you buy dearer than you sell

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

Long on Perpl Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.094%+$9 on $10k

Price spread, last 3 days (all we have)−0.306%−$31 · spread now −0.005%, 7d avg +0.021%

Together, before fees−0.212%+ Points / potential airdropPerpl: Active · farm board−$21 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.026% cheaper against Perpl than usual: you would sell low and buy high (spread −0.005% now, against its 7-day average of +0.021%). If the spread goes back, that is −$3 on $10k: about 21 hours of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.094% in total) that is about 47 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Perpl ZEC	1,469	0	get 0.0000% / 43m	16m 37s	$83K	$405K	10x
Short	Bybit ZECUSDT	1,469	0.0100	get 0.0100% / 8h	6h 54m	$271.7M	$625.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Perpl. 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 PerplbpFee BybitbpOrdersPrice spread, now −0.005%Rate

Funding earned: $21
Price spread: −0.005% → +0.021%: −$2.64
Slippage, 4 orders: no order book: not counted
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$6.44
Costs to cover: 0.248%
Break-even: 9.1 days

Slippage unknown: Perpl: no order-book sample; Bybit: 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 Perpl no order-book sample	—	—	—	—	—
Sell Bybit live order book, 5 min ago	0.03 bp	6.2 bp −$6	8.9 bp −$89	17.3 bp −$1,734	33.2 bp −$16.6K

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	−0.3678%	1h	1,470.8	+0.121%	$34K	$274K	12x	as long as short
Ondo Perps ZEC-USD.P	−0.0190%	1h	1,468.3	−0.050%	$399K	$516K	5x	as long as short
BloFin ZEC-USDT	−0.0113%	8h	1,469.2	+0.012%	$29.6M	$72.2M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,469.1	+0.003%	$6K	$1K	10x	as long as short
Kraken Futures PF_ZECUSD	−0.0002%	1h	1,469	−0.001%	$18.1M	$43.3M	25x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,469.9	+0.056%	$414K	$103K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,469.8	+0.053%	$957K	$5.1M	2.2x	as long as short
Perpl ZEClong	0.0000%	43m	1,469	long leg	$83K	$405K	10x
Variational Omni ZEC	+0.0002%	8h	1,467.3	−0.120%	$47.8M	$33.5M	—	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,468.9	−0.007%	$5.2M	—	150x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange ZECUSD	+0.0016%	1h	1,468.1	−0.067%	$8K	$9K	5x	as long as short
Orderly PERP_ZEC_USDC	+0.0024%	8h	1,468.9	−0.009%	$293K	$1.1M	20x	as long as short
Phoenix ZEC	+0.0054%	1h	1,468.4	−0.043%	$4.6M	$1.5M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0055% / S −0.0010%	1h	1,468.9	−0.013%	$382K	—	100x	as long as short
OKX ZEC-USDT-SWAP	+0.0071%	8h	1,469.3	+0.020%	$180.6M	$1.28B	50x	as long as short
Gate ZEC_USDT	+0.0089%	8h	1,468.9	−0.007%	$49.9M	$173.3M	75x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,468.9	−0.007%	$173K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,468.8	−0.016%	$14K	$845K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,469.5	+0.028%	$61K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,469.3	+0.017%	$2.6M	$6.5M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,470.2	+0.079%	$765.3M	$448.7M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,470.1	+0.075%	$14.9M	$31.1M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,469.5	+0.033%	$1.7M	$2.8M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,469.3	+0.015%	$681.6M	$2.34B	75x	as long as short
Bybit ZECUSDTshort	+0.0100%	8h	1,469	−0.005%	$271.7M	$625.7M	75x
Bulk ZEC-USD	+0.0100%	1h	1,470.7	+0.110%	$895K	$17K	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,469.3	+0.015%	$218.2M	$789.9M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,469.1	+0.004%	$103.7M	$55.4M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,469.2	+0.011%	$163.3M	$286.6M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,468.8	−0.019%	—	$6.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,470.4	+0.092%	$572K	$9.0M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,469.4	+0.027%	$3.0M	$450K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,469.5	+0.031%	$427K	$883K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,471.1	+0.143%	$71K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,468.7	−0.023%	$340K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,468.4	−0.042%	$128K	$159K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,467.6	−0.100%	$457K	$510K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,471.4	+0.160%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,468.8	−0.014%	$242K	$3.8M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,468.2	−0.056%	$2.5M	$19.1M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,469.3	+0.015%	$3.8M	$5.2M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,469.2	+0.010%	$3.2M	$7.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,469.3	+0.016%	$51K	$164K	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0124%	1h	1,469.7	+0.044%	$604K	$1.3M	25x	as long as short
Lighter ZEC	+0.0184%	1h	1,471	+0.131%	$19.2M	$47.8M	20x	as long as short
Lighter RH ZEC	+0.0232%	1h	1,471	+0.134%	$2.0M	$7.0M	10x	as long as short
Arcus ZEC-USD	+0.0254%	1h	1,470.8	+0.121%	$691K	$8.6M	10x	as long as short
RISEx ZEC/USDC	+0.0374%	1h	1,469.8	+0.053%	$853K	$1.0M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0469%	1h	1,469.6	+0.039%	$2.5M	$3.9M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0472%	1h	1,471	+0.135%	$3.7M	$9.7M	50x	as long as short
Aftermath Perps ZECUSD	+0.0752%	1h	1,469.6	+0.038%	$43K	$46K	10x	as long as short