Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.109%

Price spread now: Backpack against ApeX Omni+0.136%7-day average +0.525% · you sell dearer than you buy

Net, funding: paid 7d − costs+$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$310.308% of the position

Long on ApeX Omni Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.853%+$85 on $10k

Price spread, last 7 days−0.509%−$51 · spread now +0.136%, 7d avg +0.525%

Together, before fees+0.345%+$34 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.389% cheaper against ApeX Omni than usual: you would sell low and buy high, −$39 on $10k if it goes back to its 7-day average of +0.525%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ZECUSDT	1,449.9	0.0100	pay 0.0013% / 1h	40m 30s	$403K	$921K	50x
Short	Backpack ZEC_USDC_PERP	1,451.9	0.0100	get 0.0013% / 1h	40m 30s	$2.4M	$3.9M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against ApeX 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 ApeX OmnibpFee BackpackbpOrdersPrice spread, now +0.136%Rate

Funding earned: $0
Price spread: +0.136% → +0.525%: −$38.87
Slippage, 4 orders: −$10.83
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$69.71
Costs to cover: 0.308%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 18 min ago; Backpack: live order book, 4 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 ApeX Omni live order book, 18 min ago	1.59 bp	7.3 bp −$7	28.7 bp −$287	doesn't fit	doesn't fit
Sell Backpack live order book, 4 min ago	0.03 bp	6.2 bp −$6	23.3 bp −$233	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	−0.3166%	1h	1,450	+0.007%	$33K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,453.3	+0.233%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0070%	8h	1,451.3	+0.098%	$29.2M	$70.6M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,452.5	+0.179%	$409K	$40K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,450.1	+0.018%	$1.5M	$4.4M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,453	+0.213%	$83K	$240K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,450	+0.006%	$5.1M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0060%	8h	1,450.2	+0.021%	$290K	$957K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0065% / S −0.0016%	1h	1,449.9	0.000%	$407K	—	100x	as long as short
01 Exchange ZECUSD	+0.0072%	1h	1,452.9	+0.210%	$8K	$7K	5x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex ZECUSDT	+0.0096%	1h	1,452.7	+0.195%	$174K	$1.7M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,452.1	+0.150%	$11K	$872K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,453	+0.212%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,453	+0.213%	$2.5M	$6.3M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,453.8	+0.270%	$756.1M	$435.0M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,452.7	+0.195%	$14.4M	$27.7M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,453	+0.216%	$1.6M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,452.8	+0.204%	$666.8M	$2.22B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,452.3	+0.167%	$261.2M	$602.8M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,452.6	+0.189%	$177.4M	$1.22B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,448.7	−0.082%	$394K	$444K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,450.7	+0.056%	$875K	$29K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,452.7	+0.196%	$50.0M	$173.1M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,452.9	+0.205%	$216.4M	$769.9M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,452.8	+0.201%	$102.2M	$54.8M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,452.9	+0.206%	$165.0M	$273.7M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,452.2	+0.156%	—	$6.7M	—	as long as short
Backpack ZEC_USDC_PERPshort	+0.0100%	1h	1,451.9	+0.136%	$2.4M	$3.9M	15x
Variational Omni ZEC	+0.0100%	8h	1,449.4	−0.032%	$47.5M	$32.8M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,450.6	+0.049%	$565K	$8.6M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,450.6	+0.047%	$3.0M	$437K	10x	as long as short
ApeX Omni ZECUSDTlong	+0.0100%	1h	1,449.9	long leg	$403K	$921K	50x
StandX ZEC-USD	+0.0100%	1h	1,450.2	+0.023%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,452.3	+0.166%	$366K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,452.7	+0.195%	$160K	$185K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,449.1	−0.054%	$442K	$521K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,452.4	+0.174%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,450.4	+0.035%	$232K	$3.4M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,450	+0.005%	$2.6M	$18.2M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,451	+0.077%	$3.8M	$5.1M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,452.6	+0.187%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,449.7	−0.015%	$47K	$151K	20x	as long as short
Phoenix ZEC	+0.0123%	1h	1,450.5	+0.039%	$4.6M	$1.3M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0278%	1h	1,450.9	+0.067%	$609K	$1.3M	25x	as long as short
Kraken Futures PF_ZECUSD	+0.0278%	1h	1,450.5	+0.042%	$18.0M	$44.9M	25x	as long as short
Lighter ZEC	+0.0328%	1h	1,454.3	+0.303%	$19.1M	$45.9M	20x	as long as short
RISEx ZEC/USDC	+0.0412%	1h	1,452.9	+0.210%	$920K	$1.1M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0448%	1h	1,452.2	+0.157%	$3.8M	$9.0M	50x	as long as short
Lighter RH ZEC	+0.0480%	1h	1,454.8	+0.337%	$2.0M	$6.9M	10x	as long as short
Arcus ZEC-USD	+0.0626%	1h	1,450.8	+0.060%	$738K	$8.3M	10x	as long as short
Aftermath Perps ZECUSD	+0.0675%	1h	1,450.9	+0.067%	$44K	$49K	10x	as long as short