Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.015%

Price spread now: OKX against Popdex+0.238%53s7-day average −0.006% · 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—prices read too far apart to compare

costs, in and out, $10k−$200.200% of the position

Long on Popdex Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.060%−$6 on $10k

Price spread, last 7 days−0.220%−$22 · spread now +0.238%, 7d avg −0.006%

Together, before fees−0.279%−$28 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: OKX is 0.245% dearer against Popdex than usual: you sell high and buy low, +$24 on $10k if it goes back to its 7-day average of −0.006%. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex ZECUSDT	1,514.2	0.0096	pay 0.0012% / 1h	54m 50s	$172K	$1.8M	50x
Short	OKX ZEC-USDT-SWAP	1,517.8	0.0100	get 0.0100% / 8h	7h 54m	$183.6M	$1.39B	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Popdex. 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 PopdexbpFee OKXbpOrdersPrice spread, now +0.238%Rate

Funding earned: $0.84
Price spread: +0.238% → −0.006%: $24.46
Slippage, 4 orders: −$3.65
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee OKX: 5 bp × 2 orders: −$10
Net: $5.25
Costs to cover: 0.200%
Break-even: from the start

Slippage from Popdex: live order book, 4 min ago; OKX: live order book, 4 min ago.

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 Popdex live order book, 4 min ago	0.96 bp	4.6 bp −$5	9.8 bp −$98	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	0.03 bp	5.5 bp −$6	7.5 bp −$75	19.4 bp −$1,943	doesn't fit

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	−0.3702%	1h	1,500.2	−0.922%	$37K	$275K	12x	as long as short
Bulk ZEC-USD	−0.0463%	1h	1,515.3	+0.071%	$779K	$147K	10x	as long as short
Perpl ZEC	−0.0447%	43m	1,513.9	−0.023%	$62K	$305K	10x	as long as short
BloFin ZEC-USDT	−0.0164%	8h	1,517.5	+0.219%	$31.8M	$77.1M	75x	as long as short
Aftermath Perps ZECUSD	−0.0115%	1h	1,513.1	−0.071%	$48K	$59K	10x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,517.5	+0.219%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,518.5	+0.286%	$422K	$34K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,512	−0.146%	$1.6M	$5.0M	2.2x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,515.6	+0.092%	$5.4M	—	150x	as long as short
01 Exchange ZECUSD	+0.0008%	1h	1,513.5	−0.044%	$8K	$6K	5x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_ZECUSD	+0.0019%	1h	1,517.6	+0.227%	$18.3M	$47.8M	25x	as long as short
Orderly PERP_ZEC_USDC	+0.0084%	8h	1,516	+0.121%	$305K	$859K	20x	as long as short
Phoenix ZEC	+0.0096%	1h	1,512.4	−0.120%	$4.8M	$1.4M	10x	as long as short
Lighter RH ZEC	+0.0096%	1h	1,519.8	+0.369%	$2.1M	$7.4M	10x	as long as short
Popdex ZECUSDTlong	+0.0096%	1h	1,514.2	long leg	$172K	$1.8M	50x
Paradex ZEC-USD-PERP	+0.0100%	8h	1,511.3	−0.189%	$62K	$19K	10x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,513.4	−0.054%	$16K	$898K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,514.7	+0.031%	$3.1M	$7.7M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,519.2	+0.330%	$794.7M	$445.8M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,518	+0.248%	$14.2M	$31.0M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,518.8	+0.302%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,519	+0.316%	$717.6M	$2.34B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,517.5	+0.215%	$273.1M	$629.3M	75x	as long as short
OKX ZEC-USDT-SWAPshort	+0.0100%	8h	1,517.8	+0.238%	$183.6M	$1.39B	50x
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,509.5	−0.310%	$413K	$553K	5x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,513.2	−0.068%	$600K	$8.9M	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,518.9	+0.311%	$60.0M	$182.8M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,518.2	+0.263%	$417.9M	$825.1M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,519.1	+0.325%	$103.7M	$57.3M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,518.7	+0.295%	$164.1M	$294.7M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,519.1	+0.326%	—	$120.1M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,509.2	−0.331%	$49.7M	$35.6M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,515.9	+0.114%	$581K	$9.1M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,515.9	+0.113%	$3.1M	$532K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,515.1	+0.057%	$417K	$949K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,511.5	−0.176%	$51K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,515.1	+0.059%	$376K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,515.8	+0.106%	$169K	$193K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,512.3	−0.125%	$452K	$408K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,518	+0.253%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,517.1	+0.190%	$257K	$3.6M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,514.8	+0.038%	$2.7M	$21.3M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,518.3	+0.269%	$4.1M	$4.9M	50x	as long as short
Lighter ZEC	+0.0104%	1h	1,520	+0.386%	$19.6M	$44.3M	20x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,519.3	+0.335%	$2.7M	$8.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,517	+0.186%	$43K	$151K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0153% / S −0.0153%	1h	1,515.7	+0.096%	$336K	—	100x	as long as short
RISEx ZEC/USDC	+0.0157%	1h	1,513	−0.077%	$964K	$1.1M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0283%	1h	1,517.6	+0.224%	$693K	$1.4M	25x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0368%	1h	1,518.3	+0.267%	$3.7M	$9.8M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0432%	1h	1,518.7	+0.299%	$2.4M	$3.7M	15x	as long as short