Funding arb · Price arb /

ZEC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:12 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.033%

Price spread now: Perpl against Aevo+0.044%7-day average −0.063% · you sell dearer than you buy

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

Long on Aevo Short on Perpl

What this pair did over the last

the charts below follow

Funding, last 7 days−0.084%−$8 on $10k

Price spread, last 3 days (all we have)−0.215%−$22 · spread now +0.044%, 7d avg −0.063%

Together, before fees−0.299%+ Points / potential airdropPerpl: Active · farm board−$30 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Perpl is 0.107% dearer against Aevo than usual: you sell high and buy low (spread +0.044% now, against its 7-day average of −0.063%): +$11 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.4 days. At the pace of the last 7 days (−0.084% in total) that is about 8.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo ZEC-PERP	1,468.7	0.0104	pay 0.0013% / 1h	33m 32s	$56K	$167K	20x
Short	Perpl ZEC	1,469.4	0	get 0.0000% / 43m	12m 32s	$83K	$405K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Perpl against Aevo. 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 AevobpFee PerplbpOrdersPrice spread, now +0.044%Rate

Funding earned: −$21.84
Price spread: +0.044% → −0.063%: $10.7
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Net: −$40.94
Costs to cover: 0.298%
Break-even: never at this rate

Slippage unknown: Aevo: live order book, 40 min ago; Perpl: 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 Aevo live order book, 40 min ago	2.68 bp	13.5 bp −$13	24.6 bp −$246	38.5 bp −$3,848	doesn't fit
Sell Perpl no order-book sample	—	—	—	—	—

Perpl: 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 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	−0.3321%	1h	1,470.8	+0.139%	$34K	$275K	12x	as long as short
Kraken Futures PF_ZECUSD	−0.0343%	1h	1,469.4	+0.044%	$17.9M	$43.0M	25x	as long as short
Ondo Perps ZEC-USD.P	−0.0146%	1h	1,468	−0.049%	$399K	$518K	5x	as long as short
BloFin ZEC-USDT	−0.0102%	8h	1,468.9	+0.010%	$29.7M	$73.2M	75x	as long as short
Bybit ZECUSDT	−0.0087%	8h	1,469.2	+0.034%	$274.0M	$636.3M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,469.3	+0.037%	$6K	$2K	10x	as long as short
Variational Omni ZEC	−0.0056%	8h	1,468.2	−0.037%	$47.6M	$34.2M	—	as long as short
dYdX ZEC-USD	0.0000%	1h	1,468.6	−0.011%	$414K	$104K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,468.7	−0.003%	$957K	$5.2M	2.2x	as long as short
Perpl ZECshort	0.0000%	43m	1,469.4	+0.044%	$83K	$405K	10x

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	1,469.2	+0.032%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0015%	8h	1,469.1	+0.025%	$293K	$1.4M	20x	as long as short
01 Exchange ZECUSD	+0.0032%	1h	1,469	+0.022%	$8K	$8K	5x	as long as short
OKX ZEC-USDT-SWAP	+0.0045%	8h	1,469.5	+0.054%	$181.8M	$1.30B	50x	as long as short
Phoenix ZEC	+0.0054%	1h	1,470.9	+0.145%	$4.7M	$1.6M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0055% / S −0.0010%	1h	1,469.2	+0.034%	$378K	—	100x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,469.7	+0.068%	$176K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,469.7	+0.068%	$14K	$832K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,469.1	+0.026%	$60K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,470	+0.085%	$2.6M	$6.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,470.1	+0.094%	$762.4M	$454.7M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,469.3	+0.041%	$14.9M	$31.9M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,469.4	+0.045%	$1.7M	$2.8M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,469.7	+0.068%	$683.9M	$2.38B	75x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,470.8	+0.141%	$699K	$8.5M	10x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,471	+0.154%	$895K	$25K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,469	+0.021%	$51.2M	$179.0M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,469.2	+0.031%	$230.9M	$825.1M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,468.9	+0.013%	$104.9M	$55.8M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,469.3	+0.037%	$163.4M	$293.5M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,468.5	−0.015%	—	$6.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,468.4	−0.020%	$571K	$9.2M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,468.3	−0.028%	$3.0M	$466K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,470	+0.084%	$430K	$860K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,468.9	+0.014%	$110K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,468.8	+0.006%	$332K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,469	+0.022%	$128K	$159K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,467.3	−0.094%	$457K	$509K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,471.4	+0.181%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,469	+0.022%	$242K	$4.0M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,468.4	−0.025%	$2.5M	$21.4M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,470.6	+0.126%	$3.9M	$5.3M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,469.1	+0.027%	$3.2M	$7.0M	10x	as long as short
Aevo ZEC-PERPlong	+0.0104%	1h	1,468.7	long leg	$56K	$167K	20x
Deribit ZEC_USDC-PERPETUAL	+0.0157%	1h	1,470	+0.086%	$605K	$1.3M	25x	as long as short
Lighter ZEC	+0.0192%	1h	1,470.5	+0.124%	$19.2M	$50.4M	20x	as long as short
RISEx ZEC/USDC	+0.0228%	1h	1,470.1	+0.092%	$850K	$1.1M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0448%	1h	1,471.2	+0.170%	$3.8M	$10.1M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0525%	1h	1,470.8	+0.138%	$2.5M	$3.8M	15x	as long as short
Aftermath Perps ZECUSD	+0.0764%	1h	1,470.6	+0.127%	$43K	$47K	10x	as long as short
Lighter RH ZEC	+0.0776%	1h	1,471.3	+0.174%	$2.0M	$8.1M	10x	as long as short