Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0215%/8h= −23.5% APRpaid last 24h −0.013%

Price spread now: Variational Omni against RISEx−0.163%7-day average −0.054% · you buy dearer than you sell

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

Long on RISEx Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.193%−$19 on $10k

Price spread, last 7 days+0.161%+$16 · spread now −0.163%, 7d avg −0.054%

Together, before fees−0.032%+ Points / potential airdropVariational Omni: Active · farm board−$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Variational Omni is 0.109% cheaper against RISEx than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.054%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx ZEC/USDC	1,463.3	0.0190	pay 0.0024% / 1h	35m 22s	$841K	$1.7M	10x
Short	Variational Omni ZEC	1,460.9	−0.0025	pay 0.0025% / 8h	1h 35m	$46.5M	$34.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against RISEx. 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 RISExbpFee Variational OmnibpOrdersPrice spread, now −0.163%Rate

Funding earned: −$45.09
Price spread: −0.163% → −0.054%: −$10.95
Slippage, 4 orders: no order book: not counted
Fee RISEx: 3 bp × 2 orders: −$6
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$62.04
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: RISEx: live order book, 3 min ago; Variational Omni: RFQ quote, 4 min ago. 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 RISEx live order book, 3 min ago	0.82 bp	3.8 bp −$4	7.3 bp −$73	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	2.77 bp	doesn't fit	7.7 bp −$77	17.1 bp −$1,712	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	−0.3310%	1h	1,448.2	−1.031%	$33K	$275K	12x	as long as short
Kraken Futures PF_ZECUSD	−0.0405%	1h	1,462.1	−0.087%	$17.8M	$44.8M	25x	as long as short
Ondo Perps ZEC-USD.P	−0.0212%	1h	1,459.3	−0.275%	$396K	$518K	5x	as long as short
BloFin ZEC-USDT	−0.0089%	8h	1,461.8	−0.101%	$29.3M	$75.2M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,462.2	−0.079%	$6K	$2K	10x	as long as short
Bybit ZECUSDT	−0.0050%	8h	1,463.6	+0.019%	$271.1M	$673.1M	75x	as long as short
Variational Omni ZECshort	−0.0025%	8h	1,460.9	−0.163%	$46.5M	$34.0M	—
ApeX Omni ZECUSDT	−0.0024%	1h	1,463.5	+0.011%	$430K	$820K	50x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L −0.0017% / S +0.0093%	1h	1,464.5	+0.080%	$541K	—	100x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,461.6	−0.117%	$412K	$106K	5x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXZECPERP	0.0000%	8h	1,462.8	−0.039%	$885K	$5.7M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,463.6	+0.021%	$83K	$404K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,464.7	+0.095%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0013%	8h	1,464	+0.045%	$292K	$1.5M	20x	as long as short
Bulk ZEC-USD	+0.0030%	1h	1,466	+0.184%	$905K	$27K	10x	as long as short
Gate ZEC_USDT	+0.0048%	8h	1,464.4	+0.070%	$50.0M	$184.8M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0049%	8h	1,464	+0.047%	$175.8M	$1.35B	50x	as long as short
01 Exchange ZECUSD	+0.0056%	1h	1,463.4	+0.002%	$8K	$8K	5x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0073%	1h	1,463.3	−0.004%	$595K	$1.3M	25x	as long as short
Phoenix ZEC	+0.0075%	1h	1,461.4	−0.134%	$4.6M	$1.6M	10x	as long as short
Lighter ZEC	+0.0096%	1h	1,464.3	+0.065%	$19.0M	$52.5M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,462.9	−0.029%	$173K	$1.9M	50x	as long as short
Katana Perps ZEC-USD	+0.0096%	8h	1,463	−0.024%	$14K	$862K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,462.4	−0.060%	$60K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,462.8	−0.036%	$2.5M	$6.9M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,464.2	+0.060%	$758.9M	$484.8M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,463.2	−0.008%	$15.6M	$33.3M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,463.2	−0.005%	$1.7M	$3.0M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,464.5	+0.078%	$674.7M	$2.50B	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,463.8	+0.032%	$222.9M	$860.6M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,463.2	−0.011%	$103.7M	$56.3M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,464.2	+0.060%	$161.9M	$306.8M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,464.6	+0.085%	—	$103.3M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,461.4	−0.133%	$509K	$9.5M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,462.2	−0.076%	$3.0M	$481K	10x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,462.8	−0.036%	$109K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,463.1	−0.015%	$343K	$1.9M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,464	+0.047%	$127K	$160K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,462.3	−0.069%	$447K	$502K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,464.4	+0.071%	$3K	$1.3M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,462.1	−0.081%	$222K	$4.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,461.2	−0.144%	$2.5M	$24.1M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,462.6	−0.052%	$3.8M	$5.4M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,463.2	−0.012%	$3.2M	$6.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,463.9	+0.040%	$36K	$367K	20x	as long as short
Backpack ZEC_USDC_PERP	+0.0188%	1h	1,462.8	−0.034%	$2.3M	$3.8M	15x	as long as short
RISEx ZEC/USDClong	+0.0190%	1h	1,463.3	long leg	$841K	$1.7M	10x
Lighter RH ZEC	+0.0384%	1h	1,464.4	+0.071%	$2.0M	$8.2M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0424%	1h	1,464.1	+0.052%	$3.7M	$11.6M	50x	as long as short
Arcus ZEC-USD	+0.0444%	1h	1,464	+0.045%	$742K	$8.1M	10x	as long as short
Aftermath Perps ZECUSD	+0.0542%	1h	1,464.9	+0.110%	$40K	$34K	10x	as long as short