Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0067%/8h= +7.4% APRpaid last 24h +0.020%

Price spread now: Derive against Variational Omni+0.312%7-day average −0.008% · you sell dearer than you buy

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

Long on Variational Omni Short on Derive

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.016%+$2 on $10k

Price spread, last 3 days (all we have)+0.181%+$18 · spread now +0.312%, 7d avg −0.008%

Together, before fees+0.197%+ Points / potential airdropVariational Omni: Active · farm board+$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Derive is 0.320% dearer against Variational Omni than usual: you sell high and buy low: +$32 more if the spread goes back to its 7-day average of −0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ZEC	1,470.4	0.0033	pay 0.0033% / 8h	6h 32m	$47.9M	$33.3M	—
Short	Derive ZEC-PERP	1,475	0.0100	get 0.0013% / 1h	32m 26s	$459K	$510K	6.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive against Variational Omni. 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 Variational OmnibpFee DerivebpOrdersPrice spread, now +0.312%Rate

Funding earned: $14.14
Price spread: +0.312% → −0.008%: $32.01
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Derive: 3 bp × 2 orders: −$6
Net: $40.15
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Derive: 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 Variational Omni RFQ quote, 2 min ago	2.75 bp	doesn't fit	5.2 bp −$52	14.8 bp −$1,485	doesn't fit
Sell Derive no order-book sample	—	—	—	—	—

Derive: 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	1,471.7	+0.089%	$34K	$274K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,472.6	+0.147%	$6K	$1K	10x	as long as short
Ondo Perps ZEC-USD.P	−0.0018%	1h	1,471.7	+0.087%	$399K	$518K	5x	as long as short
Kraken Futures PF_ZECUSD	−0.0002%	1h	1,476.6	+0.421%	$18.1M	$43.6M	25x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,473.7	+0.219%	$415K	$56K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,471.6	+0.080%	$974K	$5.0M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,474.4	+0.270%	$84K	$258K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,476.5	+0.412%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0027%	8h	1,476.5	+0.414%	$295K	$1.1M	20x	as long as short
Variational Omni ZEClong	+0.0033%	8h	1,470.4	long leg	$47.9M	$33.3M	—

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX ZEC/USD [WBTC.b-USDC]	L +0.0055% / S −0.0009%	1h	1,476.4	+0.408%	$386K	—	100x	as long as short
01 Exchange ZECUSD	+0.0056%	1h	1,475.4	+0.336%	$8K	$9K	5x	as long as short
Phoenix ZEC	+0.0070%	1h	1,471.2	+0.053%	$4.7M	$1.5M	10x	as long as short
OKX ZEC-USDT-SWAP	+0.0093%	8h	1,476.6	+0.420%	$181.7M	$1.28B	50x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,475.6	+0.349%	$174K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,474.8	+0.297%	$16K	$839K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,474.7	+0.288%	$61K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,476	+0.382%	$2.6M	$6.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,477.7	+0.495%	$769.1M	$444.5M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,474.9	+0.304%	$14.9M	$31.0M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,475	+0.312%	$1.7M	$2.7M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,476.9	+0.440%	$682.2M	$2.34B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,476.5	+0.412%	$272.5M	$625.7M	75x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,470.5	+0.004%	$893K	$19K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,476.7	+0.425%	$50.1M	$175.3M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,477	+0.445%	$217.9M	$797.6M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,476.7	+0.423%	$103.9M	$56.2M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,476.9	+0.438%	$164.0M	$285.1M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,476.4	+0.403%	—	$100.5M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,471.3	+0.056%	$572K	$9.1M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,472.9	+0.169%	$3.0M	$443K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,471.9	+0.098%	$428K	$907K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,472.5	+0.140%	$71K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,476.5	+0.413%	$339K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,476.6	+0.420%	$128K	$159K	20x	as long as short
Derive ZEC-PERPshort	+0.0100%	1h	1,475	+0.312%	$459K	$510K	6.7x
SunX ZEC-USDT	+0.0100%	8h	1,477.1	+0.456%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,476.5	+0.413%	$243K	$3.8M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,472.4	+0.135%	$2.5M	$19.1M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,472.6	+0.148%	$3.9M	$5.4M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,476.3	+0.399%	$3.2M	$7.1M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,476.8	+0.431%	$48K	$167K	20x	as long as short
Arcus ZEC-USD	+0.0254%	1h	1,475.7	+0.358%	$689K	$8.7M	10x	as long as short
Lighter ZEC	+0.0264%	1h	1,476.2	+0.395%	$19.2M	$48.1M	20x	as long as short
Lighter RH ZEC	+0.0296%	1h	1,475.2	+0.327%	$2.1M	$7.1M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0344%	1h	1,477.4	+0.476%	$615K	$1.3M	25x	as long as short
RISEx ZEC/USDC	+0.0374%	1h	1,475.6	+0.349%	$866K	$1.0M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0472%	1h	1,478.3	+0.533%	$3.7M	$9.7M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0508%	1h	1,472.8	+0.160%	$2.5M	$3.9M	15x	as long as short
Aftermath Perps ZECUSD	+0.0722%	1h	1,472.5	+0.140%	$44K	$46K	10x	as long as short