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Funding arb · Price arb /

ZEC

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 06:00 UTC−0.0202%/8h= −22.2% APRnext payment −$0.25 per $10,000 · paid last 24h −0.016%
Price spread now: Bulk against Polymarket Perps+0.076%7-day average −0.029% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$11as in the Price arb table
costs, in and out, $10k−$210.210% of the position
Long on Polymarket PerpsShort on Bulk
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)−0.031%−$3 on $10k
Price spread, last 4 days (all we have)+0.256%+$26 · spread now +0.076%, 7d avg −0.029%
Together, before fees+0.225%+$23 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Bulk is 0.104% dearer against Polymarket Perps than usual: you sell high and buy low (spread +0.076% now, against its 7-day average of −0.029%): +$10 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 41 hours. At the pace of the last 4 days (−0.031% in total) that is about 12 days.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.031% in total (about -3.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.25 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPolymarket Perps ZEC-USD1,493.40.0100pay 0.0013% / 1h0m 05s$361K$1.7M10x
ShortBulk ZEC-USD1,494.5−0.0102pay 0.0013% / 1h0m 05s$903K$15K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bulk against Polymarket Perps. 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

Funding earned
−$42.51
Price spread: +0.076% → −0.029%
$10.43
Slippage, 4 orders
−$6.03
Fee Polymarket Perps: 4 bp × 2 orders
−$8
Fee Bulk: 3.5 bp × 2 orders
−$7
Net
−$53.11
Costs to cover
0.210%
Break-even
never at this rate
Slippage from Polymarket Perps: live order book, 4 min ago; Bulk: live order book, 49 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Polymarket Perps live order book, 4 min ago2.01 bp7.3 bp −$79.4 bp −$94doesn't fitdoesn't fit
Sell Bulk live order book, 49 min ago0.34 bp3.8 bp −$44.6 bp −$467.3 bp −$72714.3 bp −$7,141

ZEC on 51 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective ZEC/USDC PERP−0.3243%1h1,479.2−0.954%$34K$273K12xas long as short
BloFin ZEC-USDT−0.0121%8h1,494.5+0.074%$30.7M$73.9M75xas long as short
Bulk ZEC-USDshort−0.0102%1h1,494.5+0.076%$903K$15K10x
Hotstuff ZEC-PERP−0.0080%1h1,494.8+0.090%$6K$1K10xas long as short
dYdX ZEC-USD0.0000%1h1,495+0.107%$415K$35K5xas long as short
Kalshi KXZECPERP0.0000%8h1,494.2+0.054%$1.6M$4.6M2.2xas long as short
Perpl ZEC0.0000%43m1,494.5+0.070%$85K$239K10xas long as short
gTrade (Gains Network) ZEC/USDL +0.0007% / S −0.0006%1h1,492.6−0.054%$5.3M—150xas long as short
Orderly PERP_ZEC_USDC+0.0071%8h1,491.6−0.119%$300K$1.1M20xas long as short
01 Exchange ZECUSD+0.0080%1h1,494.3+0.062%$8K$7K5xas long as short
Show all 51 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Phoenix ZEC+0.0092%1h1,495.2+0.120%$4.7M$1.3M10xas long as short
Popdex ZECUSDT+0.0096%1h1,494+0.041%$153K$1.7M50xas long as short
Nado ZEC-PERP+0.0100%1h1,493.9+0.036%$2.8M$6.6M10xas long as short
Hyperliquid ZEC+0.0100%1h1,489.3−0.275%$775.7M$439.1M10xas long as short
Aster ZECUSDT+0.0100%8h1,491.1−0.154%$14.2M$29.5M75xas long as short
Pacifica ZEC+0.0100%1h1,494.8+0.092%$1.7M$2.4M10xas long as short
Binance ZECUSDT+0.0100%8h1,489.6−0.256%$692.9M$2.28B75xas long as short
Bybit ZECUSDT+0.0100%8h1,487.9−0.370%$273.7M$624.3M75xas long as short
OKX ZEC-USDT-SWAP+0.0100%8h1,485.6−0.524%$181.2M$1.30B50xas long as short
Ondo Perps ZEC-USD.P+0.0100%1h1,495.1+0.114%$406K$480K5xas long as short
Gate ZEC_USDT+0.0100%8h1,486.5−0.465%$53.9M$182.9M75xas long as short
MEXC ZEC_USDT+0.0100%8h1,486.3−0.478%$231.9M$786.6M150xas long as short
KuCoin ZECUSDTM+0.0100%8h1,491.5−0.129%$102.8M$56.1M75xas long as short
Bitget ZECUSDT+0.0100%8h1,485.9−0.503%$160.5M$286.2M75xas long as short
BingX ZEC-USDC+0.0100%8h1,485.2−0.548%—$6.7M—as long as short
Variational Omni ZEC+0.0100%8h1,494+0.039%$48.9M$33.3M—as long as short
edgeX ZECUSDC+0.0100%4h1,494.1+0.047%$571K$8.8M20xas long as short
GRVT ZEC_USDT_Perp+0.0100%8h1,496+0.173%$3.1M$477K10xas long as short
ApeX Omni ZECUSDT+0.0100%1h1,495.8+0.159%$414K$930K50xas long as short
StandX ZEC-USD+0.0100%1h1,494.6+0.082%$57K$4.6M30xas long as short
Polymarket Perps ZEC-USDlong+0.0100%1h1,493.4long leg$361K$1.7M10x
Bullet ZEC-USD+0.0100%1h1,492.9−0.034%$164K$184K20xas long as short
Derive ZEC-PERP+0.0100%1h1,490.9−0.168%$455K$500K6.7xas long as short
SunX ZEC-USDT+0.0100%8h1,496.5+0.206%$3K$1.2M20xas long as short
SoDEX ZEC-USD+0.0100%1h1,491.2−0.149%$254K$3.5M10xas long as short
HTX ZEC-USDT+0.0100%8h1,489.4−0.268%$2.6M$19.6M75xas long as short
Phemex ZECUSDT+0.0100%8h1,490.6−0.188%$4.0M$5.0M50xas long as short
Paradex ZEC-USD-PERP+0.0100%8h1,494.4+0.070%$62K$43K10xas long as short
Katana Perps ZEC-USD+0.0100%8h1,494.2+0.051%$12K$858K10xas long as short
GMX ZEC/USD [WBTC.b-USDC]L +0.0103% / S −0.0077%1h1,492.1−0.084%$374K—100xas long as short
Extended ZEC-USD+0.0104%1h1,491.7−0.115%$2.8M$7.9M10xas long as short
Aevo ZEC-PERP+0.0104%1h1,491.6−0.118%$45K$149K20xas long as short
Kraken Futures PF_ZECUSD+0.0144%1h1,491.2−0.145%$18.1M$46.2M25xas long as short
RISEx ZEC/USDC+0.0154%1h1,494.2+0.052%$935K$1.2M10xas long as short
Deribit ZEC_USDC-PERPETUAL+0.0155%1h1,492.3−0.076%$710K$1.4M25xas long as short
Lighter ZEC+0.0216%1h1,491.1−0.153%$19.5M$46.0M20xas long as short
Lighter RH ZEC+0.0216%1h1,490.5−0.194%$2.1M$7.3M10xas long as short
Backpack ZEC_USDC_PERP+0.0323%1h1,487.2−0.415%$2.3M$3.8M15xas long as short
Aftermath Perps ZECUSD+0.0345%1h1,496+0.177%$49K$63K10xas long as short
Coinbase International ZEC-PERP-INTX+0.0496%1h1,493.9+0.034%$3.7M$9.9M50xas long as short
Arcus ZEC-USD+0.0508%1h1,495.3+0.130%$615K$8.6M10xas long as short