Funding arb · Price arb /

ZEC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.007%

Price spread now: Bitget against Bullet+0.089%47s7-day average −0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$290.287% of the position

Long on Bullet Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.060%−$6 on $10k

Price spread, last 3 days (all we have)−0.558%−$56 · spread now +0.089%, 7d avg −0.022%

Together, before fees−0.618%−$62 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: Bitget is 0.111% dearer against Bullet than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of −0.022%. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet ZEC-USD	1,463.9	0.0100	pay 0.0013% / 1h	19m 39s	$127K	$160K	20x
Short	Bitget ZECUSDT	1,465.2	0.0100	get 0.0100% / 8h	1h 19m	$162.5M	$304.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Bullet. 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 BulletbpFee BitgetbpOrdersPrice spread, now +0.089%Rate

Funding earned: $0
Price spread: +0.089% → −0.022%: $11.13
Slippage, 4 orders: −$8.7
Fee Bullet: 4 bp × 2 orders: −$8
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$17.57
Costs to cover: 0.287%
Break-even: never at this rate

Slippage from Bullet: live order book, 64 min ago; Bitget: live order book, 5 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 Bullet live order book, 64 min ago	1.79 bp	7.3 bp −$7	13.1 bp −$131	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	0.03 bp	8.4 bp −$8	12.0 bp −$120	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	−0.3310%	1h	1,465.9	+0.137%	$34K	$275K	12x	as long as short
Kraken Futures PF_ZECUSD	−0.0405%	1h	1,464.9	+0.071%	$17.8M	$44.6M	25x	as long as short
Ondo Perps ZEC-USD.P	−0.0241%	1h	1,464.3	+0.030%	$397K	$514K	5x	as long as short
BloFin ZEC-USDT	−0.0087%	8h	1,463.4	−0.030%	$29.2M	$75.3M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,464.4	+0.036%	$6K	$2K	10x	as long as short
Bybit ZECUSDT	−0.0065%	8h	1,464.2	+0.021%	$270.9M	$667.4M	75x	as long as short
Variational Omni ZEC	−0.0030%	8h	1,462.2	−0.111%	$46.6M	$33.4M	—	as long as short
dYdX ZEC-USD	0.0000%	1h	1,464.2	+0.022%	$412K	$104K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,464.7	+0.055%	$884K	$5.6M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,464	+0.009%	$83K	$404K	10x	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	1,464.5	+0.044%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0012%	8h	1,464.4	+0.038%	$292K	$1.4M	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0037% / S +0.0009%	1h	1,464.2	+0.022%	$355K	—	100x	as long as short
Gate ZEC_USDT	+0.0043%	8h	1,465.2	+0.090%	$49.7M	$186.4M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0047%	8h	1,464.6	+0.053%	$176.7M	$1.34B	50x	as long as short
01 Exchange ZECUSD	+0.0064%	1h	1,464	+0.010%	$8K	$8K	5x	as long as short
Phoenix ZEC	+0.0075%	1h	1,465	+0.078%	$4.6M	$1.6M	10x	as long as short
ApeX Omni ZECUSDT	+0.0082%	1h	1,467.6	+0.255%	$431K	$822K	50x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,463.1	−0.051%	$173K	$1.9M	50x	as long as short
Katana Perps ZEC-USD	+0.0096%	8h	1,464.1	+0.019%	$14K	$832K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,465	+0.081%	$60K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,464.3	+0.028%	$2.5M	$6.8M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,466.2	+0.160%	$760.7M	$478.6M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,464.9	+0.070%	$15.6M	$32.7M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,465.8	+0.131%	$1.7M	$3.0M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,465.1	+0.083%	$674.9M	$2.48B	75x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,463.9	+0.005%	$903K	$27K	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,465.1	+0.084%	$222.7M	$866.3M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,464.8	+0.066%	$103.6M	$55.8M	75x	as long as short
Bitget ZECUSDTshort	+0.0100%	8h	1,465.2	+0.089%	$162.5M	$304.4M	75x
BingX ZEC-USDC	+0.0100%	8h	1,463.6	−0.018%	—	$6.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,467.7	+0.260%	$512K	$9.5M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,467.4	+0.242%	$3.0M	$481K	10x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,464.7	+0.055%	$110K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,463.1	−0.052%	$343K	$1.9M	10x	as long as short
Bullet ZEC-USDlong	+0.0100%	1h	1,463.9	long leg	$127K	$160K	20x
Derive ZEC-PERP	+0.0100%	1h	1,463.1	−0.054%	$447K	$502K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,465.2	+0.089%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,464.6	+0.047%	$222K	$4.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,462.9	−0.069%	$2.5M	$23.7M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,465.2	+0.089%	$3.8M	$5.3M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,465.3	+0.099%	$3.3M	$6.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,464.4	+0.034%	$37K	$366K	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0124%	1h	1,465.4	+0.105%	$596K	$1.3M	25x	as long as short
Lighter ZEC	+0.0128%	1h	1,466.8	+0.200%	$19.0M	$52.7M	20x	as long as short
Backpack ZEC_USDC_PERP	+0.0174%	1h	1,465.5	+0.110%	$2.3M	$3.8M	15x	as long as short
RISEx ZEC/USDC	+0.0190%	1h	1,464.1	+0.018%	$841K	$1.3M	10x	as long as short
Lighter RH ZEC	+0.0400%	1h	1,467.2	+0.230%	$2.0M	$8.3M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0424%	1h	1,466	+0.146%	$3.7M	$11.5M	50x	as long as short
Arcus ZEC-USD	+0.0444%	1h	1,466.3	+0.166%	$728K	$8.2M	10x	as long as short
Aftermath Perps ZECUSD	+0.0574%	1h	1,465.2	+0.089%	$41K	$34K	10x	as long as short