Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0134%/8h= +14.6% APRpaid last 24h +0.003%

Price spread now: Bullet against Variational Omni−0.004%7-day average +0.064% · you buy dearer than you sell

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

Long on Variational Omni Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.001%$0 on $10k

Price spread, last 3 days (all we have)+0.403%+$40 · spread now −0.004%, 7d avg +0.064%

Together, before fees+0.403%+ Points / potential airdropVariational Omni: Active · farm board+$40 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bullet is 0.068% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.004% now, against its 7-day average of +0.064%). If the spread goes back, that is −$7 on $10k: about 41 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ZEC	1,451.4	−0.0034	get 0.0034% / 8h	2h 51m	$45.5M	$32.3M	—
Short	Bullet ZEC-USD	1,451.3	0.0100	get 0.0013% / 1h	51m 59s	$127K	$161K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against Variational Omni. 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 Variational OmnibpFee BulletbpOrdersPrice spread, now −0.004%Rate

Funding earned: $28.08
Price spread: −0.004% → +0.064%: −$6.8
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bullet: 4 bp × 2 orders: −$8
Net: $13.27
Costs to cover: 0.080%
Break-even: 3.7 days

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Bullet: live order book, 37 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 Variational Omni RFQ quote, 2 min ago	2.75 bp	doesn't fit	4.7 bp −$47	14.3 bp −$1,430	doesn't fit
Sell Bullet live order book, 37 min ago	0.34 bp	5.8 bp −$6	10.5 bp −$105	doesn't fit	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	−0.3476%	1h	1,437.6	−0.949%	$33K	$275K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,453.9	+0.170%	$6K	$2K	10x	as long as short
Kraken Futures PF_ZECUSD	−0.0072%	1h	1,451	−0.025%	$17.6M	$44.7M	25x	as long as short
BloFin ZEC-USDT	−0.0067%	8h	1,453.9	+0.172%	$29.0M	$75.8M	75x	as long as short
Variational Omni ZEClong	−0.0034%	8h	1,451.4	long leg	$45.5M	$32.3M	—
Bybit ZECUSDT	−0.0014%	8h	1,451	−0.027%	$269.2M	$677.7M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,454.8	+0.235%	$410K	$106K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,453.5	+0.144%	$848K	$5.5M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,451.7	+0.019%	$82K	$400K	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	0.0000%	1h	1,452.4	+0.067%	$566K	$1.3M	25x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,451.5	+0.007%	$5.1M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0007%	8h	1,451.3	−0.008%	$291K	$1.5M	20x	as long as short
OKX ZEC-USDT-SWAP	+0.0035%	8h	1,451.5	+0.010%	$172.0M	$1.37B	50x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0039% / S +0.0063%	1h	1,451.4	−0.001%	$539K	—	100x	as long as short
Aster ZECUSDT	+0.0053%	8h	1,452	+0.041%	$15.1M	$35.2M	75x	as long as short
Gate ZEC_USDT	+0.0065%	8h	1,451.3	−0.008%	$49.2M	$185.2M	75x	as long as short
01 Exchange ZECUSD	+0.0088%	1h	1,452.4	+0.071%	$8K	$8K	5x	as long as short
Katana Perps ZEC-USD	+0.0095%	8h	1,451.9	+0.037%	$17K	$886K	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,451.9	+0.033%	$177K	$2.0M	50x	as long as short
MEXC ZEC_USDT	+0.0097%	8h	1,451.5	+0.006%	$219.0M	$880.2M	150x	as long as short
Binance ZECUSDT	+0.0099%	8h	1,451.3	−0.008%	$658.3M	$2.55B	75x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,452.9	+0.105%	$60K	$37K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,452.9	+0.101%	$3.0M	$6.8M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,452.1	+0.049%	$750.7M	$492.8M	10x	as long as short
Pacifica ZEC	+0.0100%	1h	1,454.4	+0.209%	$1.6M	$3.1M	10x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,449.8	−0.109%	$393K	$522K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,454.9	+0.241%	$896K	$37K	10x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,451.9	+0.033%	$103.6M	$57.3M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,451.4	+0.002%	$161.8M	$317.0M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,451.7	+0.024%	—	$6.8M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,451.6	+0.017%	$2.3M	$4.2M	15x	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,453.8	+0.167%	$488K	$9.7M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,452.9	+0.105%	$3.0M	$501K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,450.5	−0.060%	$705K	$604K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,454.2	+0.194%	$109K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,451.1	−0.020%	$298K	$2.1M	10x	as long as short
Bullet ZEC-USDshort	+0.0100%	1h	1,451.3	−0.004%	$127K	$161K	20x
Derive ZEC-PERP	+0.0100%	1h	1,450.3	−0.078%	$441K	$493K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,457.6	+0.429%	$3K	$1.3M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,451.2	−0.011%	$219K	$4.7M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,451	−0.027%	$2.4M	$25.3M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,451.6	+0.011%	$3.7M	$5.5M	50x	as long as short
Phoenix ZEC	+0.0103%	1h	1,452.3	+0.059%	$4.6M	$1.6M	10x	as long as short
Lighter ZEC	+0.0104%	1h	1,452.6	+0.081%	$18.7M	$53.8M	20x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,451.4	+0.002%	$36K	$362K	20x	as long as short
RISEx ZEC/USDC	+0.0219%	1h	1,453	+0.110%	$862K	$2.5M	10x	as long as short
Extended ZEC-USD	+0.0328%	1h	1,451.4	−0.001%	$3.3M	$7.0M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0440%	1h	1,453.4	+0.136%	$3.7M	$11.5M	50x	as long as short
Aftermath Perps ZECUSD	+0.0466%	1h	1,453.5	+0.144%	$39K	$32K	10x	as long as short
Arcus ZEC-USD	+0.0518%	1h	1,454.9	+0.243%	$750K	$7.8M	10x	as long as short
Lighter RH ZEC	+0.0672%	1h	1,453.4	+0.137%	$1.9M	$8.4M	10x	as long as short