Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0069%/8h= −7.6% APRpaid last 24h −0.022%

Price spread now: Orderly against Polymarket Perps+0.050%7-day average +0.022% · you sell dearer than you buy

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

Long on Polymarket Perps Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.066%−$7 on $10k

Price spread, last 3 days (all we have)+0.124%+$12 · spread now +0.050%, 7d avg +0.022%

Together, before fees+0.058%+$6 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Orderly is 0.028% dearer against Polymarket Perps than usual: you sell high and buy low (spread +0.050% now, against its 7-day average of +0.022%): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 33 hours. At the pace of the last 7 days (−0.066% in total) that is about 3.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ZEC-USD	1,466.4	0.0100	pay 0.0013% / 1h	5m 02s	$343K	$1.8M	10x
Short	Orderly PERP_ZEC_USDC	1,467.1	0.0031	get 0.0031% / 8h	6h 05m	$293K	$991K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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

Position, each leg$Hold fordaysFee Polymarket PerpsbpFee OrderlybpOrdersPrice spread, now +0.050%Rate

Funding earned: −$14.49
Price spread: +0.050% → +0.022%: $2.84
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$25.66
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Polymarket Perps: live order book, 4 min ago; 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 Polymarket Perps live order book, 4 min ago	2.05 bp	6.0 bp −$6	10.0 bp −$100	28.7 bp −$2,872	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

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 50 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	−0.3678%	1h	1,452	−0.981%	$33K	$274K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,466.9	+0.035%	$6K	$1K	10x	as long as short
Ondo Perps ZEC-USD.P	−0.0039%	1h	1,464.8	−0.109%	$398K	$501K	5x	as long as short
Kraken Futures PF_ZECUSD	−0.0002%	1h	1,467.9	+0.104%	$18.1M	$43.5M	25x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,467.3	+0.064%	$413K	$51K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,467.4	+0.067%	$971K	$4.8M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,465.9	−0.035%	$84K	$251K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,466.7	+0.018%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDCshort	+0.0031%	8h	1,467.1	+0.050%	$293K	$991K	20x
GMX ZEC/USD [WBTC.b-USDC]	L +0.0055% / S −0.0009%	1h	1,466.7	+0.018%	$383K	—	100x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange ZECUSD	+0.0056%	1h	1,466.6	+0.013%	$8K	$8K	5x	as long as short
Phoenix ZEC	+0.0070%	1h	1,466.6	+0.014%	$4.6M	$1.5M	10x	as long as short
Variational Omni ZEC	+0.0072%	8h	1,466.6	+0.016%	$47.9M	$32.6M	—	as long as short
OKX ZEC-USDT-SWAP	+0.0092%	8h	1,468.7	+0.158%	$180.9M	$1.25B	50x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,466.7	+0.019%	$173K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,466.1	−0.021%	$14K	$843K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,466.7	+0.023%	$60K	$40K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,466.8	+0.025%	$2.5M	$6.5M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,469.7	+0.225%	$765.6M	$434.5M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,467.8	+0.096%	$14.8M	$29.5M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,466.9	+0.035%	$1.7M	$2.7M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,468.8	+0.162%	$678.8M	$2.28B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,468.6	+0.152%	$271.6M	$610.0M	75x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,466.6	+0.012%	$890K	$18K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,468.6	+0.150%	$50.1M	$177.0M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,468.3	+0.128%	$216.2M	$802.8M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,468.2	+0.122%	$103.2M	$56.0M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,468.5	+0.142%	$163.1M	$278.5M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,468.7	+0.155%	—	$100.5M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,466	−0.027%	$570K	$8.9M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,467.5	+0.076%	$3.0M	$453K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,466.3	−0.008%	$426K	$884K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,467.4	+0.069%	$71K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USDlong	+0.0100%	1h	1,466.4	long leg	$343K	$1.8M	10x
Bullet ZEC-USD	+0.0100%	1h	1,466.4	+0.002%	$127K	$160K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,465	−0.094%	$447K	$512K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,469	+0.179%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,467.5	+0.078%	$242K	$3.6M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,465.8	−0.041%	$2.5M	$18.3M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,468.6	+0.153%	$3.9M	$5.3M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,468.2	+0.123%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,467.1	+0.045%	$48K	$158K	20x	as long as short
Lighter ZEC	+0.0232%	1h	1,469.6	+0.216%	$19.2M	$48.3M	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0243%	1h	1,468.1	+0.113%	$611K	$1.3M	25x	as long as short
Arcus ZEC-USD	+0.0254%	1h	1,468.2	+0.124%	$698K	$8.6M	10x	as long as short
Lighter RH ZEC	+0.0288%	1h	1,469.6	+0.215%	$2.1M	$7.1M	10x	as long as short
RISEx ZEC/USDC	+0.0374%	1h	1,466.8	+0.028%	$851K	$1.0M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0417%	1h	1,468.8	+0.164%	$2.4M	$3.9M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0472%	1h	1,468.8	+0.163%	$3.6M	$9.0M	50x	as long as short
Aftermath Perps ZECUSD	+0.0733%	1h	1,468.9	+0.167%	$43K	$46K	10x	as long as short