Funding arb · Price arb /

ZEC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.026%

Price spread now: Ondo Perps against Polymarket Perps+0.393%7-day average −0.057% · you sell dearer than you buy

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

Long on Polymarket Perps Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.272%+$27 on $10k

Price spread, last 4 days (all we have)−0.268%−$27 · spread now +0.393%, 7d avg −0.057%

Together, before fees+0.004%+ Points / potential airdropOndo Perps: Active · farm board$0 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Ondo Perps is 0.450% dearer against Polymarket Perps than usual: you sell high and buy low, +$45 on $10k if it goes back to its 7-day average of −0.057%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ZEC-USD	1,476.1	0.0100	pay 0.0013% / 1h	37m 18s	$357K	$1.7M	10x
Short	Ondo Perps ZEC-USD.P	1,481.9	0.0100	get 0.0013% / 1h	37m 18s	$405K	$510K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Polymarket Perps. 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 Polymarket PerpsbpFee Ondo PerpsbpOrdersPrice spread, now +0.393%Rate

Funding earned: $0
Price spread: +0.393% → −0.057%: $45
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: $32
Costs to cover: 0.130%
Break-even: from the start

Slippage unknown: Polymarket Perps: live order book, 1 min ago; Ondo Perps: 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 Polymarket Perps live order book, 1 min ago	2.03 bp	6.7 bp −$7	9.7 bp −$97	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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	−0.3684%	1h	1,477.1	+0.068%	$34K	$273K	12x	as long as short
BloFin ZEC-USDT	−0.0121%	8h	1,478.5	+0.161%	$30.5M	$73.7M	75x	as long as short
Bulk ZEC-USD	−0.0118%	1h	1,480.8	+0.320%	$895K	$15K	10x	as long as short
Kraken Futures PF_ZECUSD	−0.0097%	1h	1,476	−0.004%	$17.9M	$47.1M	25x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,476.6	+0.035%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,476.3	+0.015%	$410K	$35K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,476.9	+0.056%	$1.5M	$4.6M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,475.5	−0.041%	$64K	$301K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,475.7	−0.027%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0076%	8h	1,476.1	−0.001%	$297K	$1.1M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex ZECUSDT	+0.0096%	1h	1,476.8	+0.047%	$161K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0098%	8h	1,476.5	+0.028%	$13K	$866K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,476.9	+0.055%	$2.7M	$7.0M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,476.1	+0.001%	$13.8M	$31.0M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,477	+0.061%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,476.5	+0.028%	$688.2M	$2.30B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,476	−0.007%	$265.4M	$631.6M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,476.1	−0.002%	$178.7M	$1.31B	50x	as long as short
Ondo Perps ZEC-USD.Pshort	+0.0100%	1h	1,481.9	+0.393%	$405K	$510K	5x
Gate ZEC_USDT	+0.0100%	8h	1,476.4	+0.022%	$53.9M	$182.0M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,476.7	+0.040%	$233.9M	$780.6M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,476.4	+0.020%	$101.0M	$57.4M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,476.4	+0.020%	$159.0M	$288.5M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,476.1	−0.001%	—	$6.7M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,477	+0.062%	$2.3M	$3.9M	15x	as long as short
Variational Omni ZEC	+0.0100%	8h	1,484.9	+0.594%	$48.5M	$33.9M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,479	+0.195%	$565K	$8.9M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,484.3	+0.557%	$3.0M	$488K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,485	+0.606%	$409K	$934K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,476.4	+0.018%	$56K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USDlong	+0.0100%	1h	1,476.1	long leg	$357K	$1.7M	10x
Bullet ZEC-USD	+0.0100%	1h	1,476.4	+0.021%	$162K	$184K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,478	+0.128%	$451K	$500K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,478.3	+0.147%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,476	−0.007%	$251K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,475	−0.075%	$2.6M	$19.7M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,476.3	+0.016%	$3.9M	$5.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,477	+0.064%	$61K	$43K	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,476.1	−0.001%	$2.7M	$8.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,476.1	0.000%	$42K	$152K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0127% / S −0.0119%	1h	1,475.9	−0.011%	$428K	—	100x	as long as short
RISEx ZEC/USDC	+0.0129%	1h	1,476.6	+0.031%	$923K	$1.1M	10x	as long as short
Phoenix ZEC	+0.0134%	1h	1,478.6	+0.171%	$4.7M	$1.4M	10x	as long as short
01 Exchange ZECUSD	+0.0136%	1h	1,477.3	+0.083%	$8K	$7K	5x	as long as short
Aftermath Perps ZECUSD	+0.0137%	1h	1,480.6	+0.306%	$47K	$64K	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0172%	1h	1,476.8	+0.048%	$674K	$1.4M	25x	as long as short
Hyperliquid ZEC	+0.0218%	1h	1,478.2	+0.142%	$767.9M	$441.1M	10x	as long as short
Arcus ZEC-USD	+0.0221%	1h	1,478.3	+0.151%	$636K	$8.6M	10x	as long as short
Lighter ZEC	+0.0288%	1h	1,478.4	+0.156%	$19.4M	$45.7M	20x	as long as short
Lighter RH ZEC	+0.0288%	1h	1,478.4	+0.157%	$2.1M	$7.4M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0480%	1h	1,477.8	+0.117%	$3.6M	$10.0M	50x	as long as short