Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:29 UTC+0.0012%/8h= +1.3% APRpaid last 24h +0.013%

Price spread now: Orderly against Perpl−0.027%7-day average +0.072% · you buy dearer than you sell

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

Long on Perpl Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.183%−$18 on $10k

Price spread, last 3 days (all we have)+0.265%+$27 · spread now −0.027%, 7d avg +0.072%

Together, before fees+0.083%+ Points / potential airdropPerpl: Active · farm board+$8 on $10k · with fees, hour by hour

Funding pays, the price is against you. Orderly is 0.099% cheaper against Perpl than usual: you would sell low and buy high (spread −0.027% now, against its 7-day average of +0.072%). If the spread goes back, that is −$10 on $10k: about 28 days of funding at the current rate ($0 a day). Mind the row above: over the last 7 days funding on this pair cost −0.183%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Perpl ZEC	1,471	0	get 0.0000% / 43m	24m 50s	$84K	$404K	10x
Short	Orderly PERP_ZEC_USDC	1,470.6	0.0012	get 0.0012% / 8h	28m 50s	$294K	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Perpl. 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 PerplbpFee OrderlybpOrdersPrice spread, now −0.027%Rate

Funding earned: $2.51
Price spread: −0.027% → +0.072%: −$9.88
Slippage, 4 orders: no order book: not counted
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$27.17
Costs to cover: 0.198%
Break-even: 82.9 days

Slippage unknown: Perpl: no order-book sample; Orderly: 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 Orderly no order-book sample	—	—	—	—	—

Perpl and 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 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	−0.3089%	1h	1,472.5	+0.101%	$34K	$275K	12x	as long as short
Ondo Perps ZEC-USD.P	−0.0254%	1h	1,468.3	−0.181%	$399K	$515K	5x	as long as short
Kraken Futures PF_ZECUSD	−0.0225%	1h	1,470.6	−0.025%	$17.9M	$44.3M	25x	as long as short
Bybit ZECUSDT	−0.0111%	8h	1,469.4	−0.105%	$274.8M	$654.5M	75x	as long as short
BloFin ZEC-USDT	−0.0102%	8h	1,470.6	−0.027%	$29.6M	$75.2M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,471.1	+0.006%	$6K	$2K	10x	as long as short
Variational Omni ZEC	−0.0057%	8h	1,468.8	−0.147%	$46.8M	$33.8M	—	as long as short
ApeX Omni ZECUSDT	−0.0045%	1h	1,470.3	−0.042%	$431K	$841K	50x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,471	+0.005%	$414K	$104K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,472.1	+0.077%	$903K	$5.6M	2.2x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl ZEClong	0.0000%	43m	1,471	long leg	$84K	$404K	10x
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,470.7	−0.018%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDCshort	+0.0012%	8h	1,470.6	−0.027%	$294K	$1.4M	20x
01 Exchange ZECUSD	+0.0016%	1h	1,471.7	+0.049%	$8K	$8K	5x	as long as short
Phoenix ZEC	+0.0024%	1h	1,470.8	−0.012%	$4.6M	$1.6M	10x	as long as short
OKX ZEC-USDT-SWAP	+0.0038%	8h	1,470.1	−0.061%	$180.6M	$1.34B	50x	as long as short
Gate ZEC_USDT	+0.0046%	8h	1,470.2	−0.055%	$50.8M	$186.4M	75x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0055% / S −0.0010%	1h	1,470.5	−0.028%	$372K	—	100x	as long as short
Lighter ZEC	+0.0096%	1h	1,472.1	+0.074%	$19.1M	$52.4M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,471.3	+0.023%	$175K	$1.9M	50x	as long as short
Katana Perps ZEC-USD	+0.0097%	8h	1,470.2	−0.050%	$13K	$836K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,470.8	−0.012%	$60K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,471.2	+0.019%	$2.6M	$6.8M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,471.1	+0.010%	$762.7M	$474.4M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,470.1	−0.056%	$15.0M	$32.7M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,471.4	+0.031%	$1.7M	$2.9M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,470.4	−0.039%	$683.6M	$2.46B	75x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,472.7	+0.122%	$720K	$8.3M	10x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,469.8	−0.082%	$894K	$39K	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,470.4	−0.041%	$232.6M	$838.0M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,470.5	−0.031%	$103.5M	$56.0M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,470.3	−0.043%	$162.9M	$301.7M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,469.3	−0.114%	—	$6.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,470.1	−0.059%	$513K	$9.2M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,470.2	−0.054%	$3.0M	$454K	10x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,471.2	+0.016%	$110K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,471.2	+0.016%	$344K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,470.1	−0.056%	$128K	$159K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,469	−0.135%	$448K	$498K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,473.5	+0.175%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,470.4	−0.037%	$238K	$4.4M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,470	−0.065%	$2.5M	$23.1M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,471.1	+0.008%	$3.9M	$5.3M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,470.7	−0.020%	$3.3M	$6.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,470.5	−0.032%	$37K	$366K	20x	as long as short
RISEx ZEC/USDC	+0.0132%	1h	1,471.9	+0.063%	$825K	$1.2M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0138%	1h	1,471.6	+0.042%	$614K	$1.3M	25x	as long as short
Backpack ZEC_USDC_PERP	+0.0418%	1h	1,471.5	+0.035%	$2.4M	$3.8M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0432%	1h	1,473.5	+0.173%	$3.8M	$10.6M	50x	as long as short
Lighter RH ZEC	+0.0472%	1h	1,472.4	+0.096%	$2.0M	$8.3M	10x	as long as short
Aftermath Perps ZECUSD	+0.0709%	1h	1,471.9	+0.061%	$46K	$47K	10x	as long as short