Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:38 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.025%

Price spread now: Derive against Perpl−0.037%7-day average −0.007% · you buy dearer than you sell

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

Long on Perpl Short on Derive

What this pair did over the last

the charts below follow

Funding, last 7 days+0.174%+$17 on $10k

Price spread, last 4 days (all we have)+1.381%+$138 · spread now −0.037%, 7d avg −0.007%

Together, before fees+1.555%+ Points / potential airdropPerpl: Active · farm board+$155 on $10k · with fees, hour by hour

Funding pays, the price is against you. Derive is 0.030% cheaper against Perpl than usual: you would sell low and buy high (spread −0.037% now, against its 7-day average of −0.007%). If the spread goes back, that is −$3 on $10k: about 24 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Perpl ZEC	1,459.3	0	get 0.0000% / 43m	31m 13s	$83K	$249K	10x
Short	Derive ZEC-PERP	1,458.7	0.0100	get 0.0013% / 1h	43m 13s	$445K	$521K	6.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive 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 DerivebpOrdersPrice spread, now −0.037%Rate

Funding earned: $21
Price spread: −0.037% → −0.007%: −$2.98
Slippage, 4 orders: no order book: not counted
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Fee Derive: 3 bp × 2 orders: −$6
Net: −$1.78
Costs to cover: 0.198%
Break-even: 7.6 days

Slippage unknown: Perpl: no order-book sample; Derive: no order-book sample. 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 Derive no order-book sample	—	—	—	—	—

Perpl and Derive: 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	−0.3244%	1h	1,462	+0.184%	$34K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,461.5	+0.155%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0078%	8h	1,459.5	+0.016%	$29.6M	$71.0M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,460.8	+0.106%	$411K	$46K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,460.6	+0.091%	$963K	$4.6M	2.2x	as long as short
Perpl ZEClong	0.0000%	43m	1,459.3	long leg	$83K	$249K	10x
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,459.6	+0.023%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0037%	8h	1,459.8	+0.038%	$292K	$977K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0054% / S −0.0009%	1h	1,459.8	+0.039%	$378K	—	100x	as long as short
Ondo Perps ZEC-USD.P	+0.0064%	1h	1,459.8	+0.037%	$396K	$433K	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	+0.0074%	1h	1,459.6	+0.023%	$4.6M	$1.4M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0084%	1h	1,460.7	+0.098%	$608K	$1.3M	25x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,459.4	+0.012%	$173K	$1.8M	50x	as long as short
Variational Omni ZEC	+0.0098%	8h	1,459.8	+0.040%	$47.4M	$31.8M	—	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,459.8	+0.040%	$19K	$835K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,459.9	+0.047%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,459.4	+0.009%	$2.6M	$6.5M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,460.6	+0.092%	$761.1M	$433.0M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,459.1	−0.014%	$14.4M	$28.8M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,460.7	+0.100%	$1.7M	$2.6M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,459.5	+0.013%	$672.8M	$2.25B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,459.2	−0.005%	$269.7M	$606.1M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,459.5	+0.014%	$179.9M	$1.23B	50x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,458.7	−0.042%	$886K	$16K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,459.6	+0.021%	$49.9M	$170.8M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,459.6	+0.021%	$215.0M	$770.8M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,459.7	+0.033%	$102.6M	$55.8M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,459.8	+0.034%	$162.0M	$275.5M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,459.8	+0.037%	—	$97.0M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,460	+0.053%	$2.4M	$3.8M	15x	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,461.5	+0.156%	$569K	$8.9M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,459.3	+0.004%	$3.0M	$418K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,461.5	+0.154%	$421K	$883K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,460.8	+0.105%	$70K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,459	−0.018%	$339K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,459.3	+0.001%	$126K	$160K	20x	as long as short
Derive ZEC-PERPshort	+0.0100%	1h	1,458.7	−0.037%	$445K	$521K	6.7x
SunX ZEC-USDT	+0.0100%	8h	1,461.6	+0.158%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,460.2	+0.061%	$241K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,458.3	−0.063%	$2.6M	$18.3M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,459.9	+0.043%	$3.8M	$5.1M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,460.1	+0.056%	$2.8M	$7.7M	10x	as long as short
01 Exchange ZECUSD	+0.0104%	1h	1,460	+0.047%	$8K	$7K	5x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,459.8	+0.039%	$48K	$155K	20x	as long as short
Kraken Futures PF_ZECUSD	+0.0195%	1h	1,460	+0.054%	$18.0M	$43.7M	25x	as long as short
Lighter ZEC	+0.0208%	1h	1,461.1	+0.128%	$19.1M	$45.9M	20x	as long as short
Arcus ZEC-USD	+0.0277%	1h	1,461.8	+0.177%	$705K	$8.5M	10x	as long as short
Lighter RH ZEC	+0.0328%	1h	1,461.1	+0.123%	$2.1M	$6.8M	10x	as long as short
RISEx ZEC/USDC	+0.0409%	1h	1,459.7	+0.028%	$834K	$1.0M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0456%	1h	1,461.5	+0.153%	$3.6M	$9.0M	50x	as long as short
Aftermath Perps ZECUSD	+0.0716%	1h	1,462.1	+0.194%	$43K	$46K	10x	as long as short