Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0274%/8h= −30.0% APRpaid last 24h −0.040%

Price spread now: Bybit against RISEx−0.174%45s7-day average −0.026% · you buy dearer than you sell

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−$240.239% of the position

Long on RISEx Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.224%−$22 on $10k

Price spread, last 7 days+0.165%+$17 · spread now −0.174%, 7d avg −0.026%

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

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Bybit is 0.148% cheaper against RISEx than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of −0.026%). Swap the legs. The two prices were read 45 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	RISEx ZEC/USDC	1,477.8	0.0374	pay 0.0047% / 1h	48m 57s	$858K	$1.0M	10x
Short	Bybit ZECUSDT	1,475.2	0.0100	get 0.0100% / 8h	6h 48m	$272.3M	$626.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against RISEx. 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 RISExbpFee BybitbpOrdersPrice spread, now −0.174%Rate

Funding earned: −$57.47
Price spread: −0.174% → −0.026%: −$14.83
Slippage, 4 orders: −$6.94
Fee RISEx: 3 bp × 2 orders: −$6
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$96.24
Costs to cover: 0.239%
Break-even: never at this rate

Slippage from RISEx: live order book, 5 min ago; Bybit: live order book, 5 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 RISEx live order book, 5 min ago	2.31 bp	5.3 bp −$5	10.4 bp −$104	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	0.03 bp	5.6 bp −$6	8.2 bp −$82	17.4 bp −$1,738	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	−0.3678%	1h	1,478.5	+0.052%	$34K	$274K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,477.6	−0.009%	$6K	$1K	10x	as long as short
Ondo Perps ZEC-USD.P	−0.0077%	1h	1,477.6	−0.010%	$401K	$519K	5x	as long as short
Kraken Futures PF_ZECUSD	−0.0002%	1h	1,475.3	−0.163%	$18.1M	$43.4M	25x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,477.4	−0.026%	$416K	$103K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,477.8	0.000%	$964K	$5.1M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,476.7	−0.069%	$84K	$405K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,476	−0.117%	$5.2M	—	150x	as long as short
Variational Omni ZEC	+0.0010%	8h	1,477.5	−0.015%	$48.2M	$33.5M	—	as long as short
BloFin ZEC-USDT	+0.0012%	8h	1,475.2	−0.173%	$29.6M	$73.3M	75x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_ZEC_USDC	+0.0026%	8h	1,475.5	−0.155%	$295K	$1.1M	20x	as long as short
01 Exchange ZECUSD	+0.0032%	1h	1,477.2	−0.036%	$8K	$9K	5x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0055% / S −0.0010%	1h	1,475.8	−0.131%	$384K	—	100x	as long as short
Phoenix ZEC	+0.0070%	1h	1,479.5	+0.117%	$4.7M	$1.5M	10x	as long as short
OKX ZEC-USDT-SWAP	+0.0077%	8h	1,475.3	−0.168%	$181.0M	$1.29B	50x	as long as short
Gate ZEC_USDT	+0.0085%	8h	1,475.3	−0.165%	$50.2M	$174.0M	75x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,476.5	−0.084%	$173K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,477.1	−0.044%	$15K	$841K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,477.2	−0.037%	$61K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,477.4	−0.021%	$2.7M	$6.5M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,476	−0.119%	$768.4M	$449.5M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,475.7	−0.137%	$14.9M	$31.0M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,477.6	−0.012%	$1.7M	$2.7M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,475.5	−0.153%	$683.8M	$2.35B	75x	as long as short
Bybit ZECUSDTshort	+0.0100%	8h	1,475.2	−0.174%	$272.3M	$626.1M	75x
Bulk ZEC-USD	+0.0100%	1h	1,470.7	−0.481%	$895K	$17K	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,475.6	−0.147%	$218.6M	$792.1M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,475.7	−0.141%	$104.1M	$55.8M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,475.6	−0.147%	$163.7M	$286.7M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,475.8	−0.131%	—	$100.3M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,473	−0.325%	$574K	$9.0M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,476.9	−0.058%	$3.0M	$450K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,478.2	+0.029%	$430K	$902K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,478.8	+0.067%	$71K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,476.7	−0.071%	$343K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,475.9	−0.128%	$129K	$158K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,474.2	−0.238%	$459K	$510K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,479.3	+0.102%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,475.2	−0.174%	$243K	$3.8M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,474.1	−0.246%	$2.5M	$19.1M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,475.8	−0.132%	$3.8M	$5.2M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,475.6	−0.144%	$3.2M	$7.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,475.3	−0.163%	$51K	$164K	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0143%	1h	1,476.2	−0.108%	$607K	$1.3M	25x	as long as short
Arcus ZEC-USD	+0.0254%	1h	1,478.5	+0.049%	$674K	$8.7M	10x	as long as short
Lighter RH ZEC	+0.0280%	1h	1,476.9	−0.059%	$2.1M	$7.0M	10x	as long as short
Lighter ZEC	+0.0320%	1h	1,476.7	−0.074%	$19.3M	$47.9M	20x	as long as short
RISEx ZEC/USDClong	+0.0374%	1h	1,477.8	long leg	$858K	$1.0M	10x
Coinbase International ZEC-PERP-INTX	+0.0472%	1h	1,478	+0.017%	$3.7M	$9.7M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0578%	1h	1,475.7	−0.137%	$2.5M	$3.9M	15x	as long as short
Aftermath Perps ZECUSD	+0.0746%	1h	1,475.2	−0.171%	$44K	$46K	10x	as long as short