Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:14 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.024%

Price spread now: Nado against Perpl+0.051%7-day average +0.087% · you sell dearer than you buy

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

Long on Perpl Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.208%+$21 on $10k

Price spread, last 4 days (all we have)−0.023%−$2 · spread now +0.051%, 7d avg +0.087%

Together, before fees+0.184%+ Points / potential airdropPerpl: Active · Nado: Active · farm board+$18 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.037% cheaper against Perpl than usual: you would sell low and buy high (spread +0.051% now, against its 7-day average of +0.087%). If the spread goes back, that is −$4 on $10k: about 29 hours of funding at the current rate (+$3 a day). At the pace of the last 3 days (+0.208% in total) that is about 15 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Perpl ZEC	1,479.1	0	get 0.0000% / 43m	3m 09s	$85K	$239K	10x
Short	Nado ZEC-PERP	1,479.9	0.0100	get 0.0012% / 1h	23m 09s	$2.9M	$6.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.051%Rate

Funding earned: $21
Price spread: +0.051% → +0.087%: −$3.66
Slippage, 4 orders: no order book: not counted
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$3.46
Costs to cover: 0.208%
Break-even: 8.2 days

Slippage unknown: Perpl: no order-book sample; Nado: live order book, 1 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 Nado live order book, 1 min ago	0.17 bp	4.9 bp −$5	13.6 bp −$136	doesn't fit	doesn't fit

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	−0.3243%	1h	1,461.8	−1.172%	$34K	$272K	12x	as long as short
BloFin ZEC-USDT	−0.0098%	8h	1,482.6	+0.239%	$30.1M	$71.9M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,479.5	+0.025%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,480	+0.062%	$411K	$37K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,480.5	+0.095%	$1.6M	$4.5M	2.2x	as long as short
Perpl ZEClong	0.0000%	43m	1,479.1	long leg	$85K	$239K	10x
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0007%	1h	1,479.5	+0.024%	$5.3M	—	150x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0050%	1h	1,480.3	+0.077%	$629K	$1.3M	25x	as long as short
Orderly PERP_ZEC_USDC	+0.0063%	8h	1,479.3	+0.014%	$296K	$896K	20x	as long as short
01 Exchange ZECUSD	+0.0064%	1h	1,480.1	+0.064%	$8K	$7K	5x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ZECUSDT	+0.0092%	8h	1,481.9	+0.187%	$264.0M	$598.1M	75x	as long as short
Phoenix ZEC	+0.0092%	1h	1,475.1	−0.271%	$4.7M	$1.3M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,479.7	+0.043%	$174K	$1.6M	50x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0100% / S −0.0054%	1h	1,479.3	+0.010%	$441K	—	100x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,479.3	+0.014%	$11K	$824K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,479.3	+0.015%	$61K	$43K	10x	as long as short
Nado ZEC-PERPshort	+0.0100%	1h	1,479.9	+0.051%	$2.9M	$6.3M	10x
Hyperliquid ZEC	+0.0100%	1h	1,482.8	+0.249%	$773.9M	$422.2M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,480.9	+0.118%	$14.5M	$28.2M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,479.9	+0.055%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,481.7	+0.176%	$687.7M	$2.18B	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,481.8	+0.181%	$180.1M	$1.23B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,474.6	−0.305%	$400K	$433K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,472.4	−0.453%	$889K	$15K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,481.8	+0.179%	$53.7M	$172.7M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,482	+0.193%	$230.5M	$766.2M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,480.6	+0.103%	$105.5M	$53.0M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,482.2	+0.206%	$167.2M	$269.1M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,481.2	+0.142%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,473.7	−0.367%	$48.3M	$32.4M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,475	−0.279%	$556K	$8.5M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,477.9	−0.080%	$3.0M	$462K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,472.9	−0.418%	$407K	$926K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,479.1	+0.002%	$50K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,479.5	+0.026%	$365K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,479.4	+0.021%	$163K	$183K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,478.6	−0.034%	$451K	$506K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,481.6	+0.170%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,480.1	+0.069%	$245K	$3.2M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,481	+0.128%	$2.5M	$18.9M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,481.5	+0.160%	$3.9M	$4.8M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,479.6	+0.032%	$2.8M	$7.8M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,479.6	+0.030%	$45K	$153K	20x	as long as short
Lighter RH ZEC	+0.0120%	1h	1,481.9	+0.187%	$2.1M	$7.1M	10x	as long as short
Kraken Futures PF_ZECUSD	+0.0145%	1h	1,480.1	+0.064%	$18.1M	$45.7M	25x	as long as short
RISEx ZEC/USDC	+0.0154%	1h	1,479.9	+0.057%	$934K	$1.1M	10x	as long as short
Lighter ZEC	+0.0192%	1h	1,481.9	+0.188%	$19.6M	$44.1M	20x	as long as short
Backpack ZEC_USDC_PERP	+0.0393%	1h	1,482.5	+0.227%	$2.4M	$3.7M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0496%	1h	1,482.2	+0.212%	$3.7M	$9.3M	50x	as long as short
Arcus ZEC-USD	+0.0508%	1h	1,480.9	+0.119%	$655K	$8.2M	10x	as long as short
Aftermath Perps ZECUSD	+0.0707%	1h	1,476	−0.210%	$45K	$49K	10x	as long as short