Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0271%/8h= −29.6% APRpaid last 24h −0.056%

Price spread now: BloFin against Bullet+0.045%48s7-day average +0.011% · 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−$270.273% of the position

Long on Bullet Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.183%−$18 on $10k

Price spread, last 4 days (all we have)+0.191%+$19 · spread now +0.045%, 7d avg +0.011%

Together, before fees+0.008%+$1 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.034% dearer against Bullet than usual: you sell high and buy low (spread +0.045% now, against its 7-day average of +0.011%): +$3 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 10 hours. The two prices were read 48 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	1,493.4	0.0100	pay 0.0013% / 1h	12m 21s	$164K	$184K	20x
Short	BloFin ZEC-USDT	1,494.1	−0.0171	pay 0.0171% / 8h	1h 12m	$30.3M	$75.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.045%Rate

Funding earned: −$56.85
Price spread: +0.045% → +0.011%: $3.39
Slippage, 4 orders: −$7.33
Fee Bullet: 4 bp × 2 orders: −$8
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$80.79
Costs to cover: 0.273%
Break-even: never at this rate

Slippage from Bullet: live order book, 32 min ago; BloFin: live order book, 12 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, 32 min ago	0.41 bp	5.9 bp −$6	11.8 bp −$118	doesn't fit	doesn't fit
Sell BloFin live order book, 12 min ago	1.01 bp	8.5 bp −$9	11.4 bp −$114	doesn't fit	doesn't fit

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	−0.3684%	1h	1,478.1	−1.027%	$36K	$275K	12x	as long as short
Perpl ZEC	−0.0447%	43m	1,492.2	−0.082%	$61K	$304K	10x	as long as short
BloFin ZEC-USDTshort	−0.0171%	8h	1,494.1	+0.045%	$30.3M	$75.0M	75x
Kraken Futures PF_ZECUSD	−0.0096%	1h	1,495.1	+0.114%	$18.1M	$46.5M	25x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,494.4	+0.068%	$6K	$1K	10x	as long as short
Bulk ZEC-USD	−0.0051%	1h	1,487.2	−0.420%	$898K	$9K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,493.9	+0.031%	$415K	$35K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,497.7	+0.285%	$1.6M	$4.6M	2.2x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,495.6	+0.145%	$5.3M	—	150x	as long as short
Aftermath Perps ZECUSD	+0.0033%	1h	1,494.9	+0.102%	$48K	$64K	10x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_ZEC_USDC	+0.0080%	8h	1,493.7	+0.019%	$301K	$1.1M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,493.1	−0.019%	$173K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0097%	8h	1,493.2	−0.017%	$12K	$876K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,494.3	+0.059%	$62K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,494.6	+0.076%	$3.1M	$7.5M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,493.2	−0.016%	$13.9M	$30.9M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,494.2	+0.051%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,493.8	+0.025%	$696.0M	$2.31B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,493.4	−0.002%	$266.8M	$632.7M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,493.8	+0.026%	$182.3M	$1.34B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,496.3	+0.193%	$410K	$552K	5x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,493.5	+0.005%	$54.8M	$186.6M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,493.2	−0.013%	$242.1M	$797.1M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,492.9	−0.036%	$102.8M	$57.6M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,494.6	+0.079%	$160.6M	$289.6M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,493	−0.027%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,498.8	+0.363%	$49.0M	$34.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,499.9	+0.432%	$575K	$9.0M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,505	+0.775%	$3.1M	$510K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,503.1	+0.650%	$414K	$942K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,497.2	+0.253%	$56K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,493.3	−0.008%	$358K	$1.7M	10x	as long as short
Bullet ZEC-USDlong	+0.0100%	1h	1,493.4	long leg	$164K	$184K	20x
SunX ZEC-USDT	+0.0100%	8h	1,496.1	+0.177%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,494.6	+0.082%	$254K	$3.6M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,494	+0.039%	$2.7M	$20.4M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,494.8	+0.090%	$4.0M	$5.0M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,494.8	+0.091%	$2.8M	$7.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,494.6	+0.076%	$43K	$151K	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0123%	1h	1,495.1	+0.111%	$683K	$1.4M	25x	as long as short
01 Exchange ZECUSD	+0.0128%	1h	1,494.8	+0.092%	$8K	$7K	5x	as long as short
RISEx ZEC/USDC	+0.0129%	1h	1,496.7	+0.220%	$940K	$1.1M	10x	as long as short
Phoenix ZEC	+0.0134%	1h	1,501.5	+0.540%	$4.8M	$1.4M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0134% / S −0.0128%	1h	1,493.7	+0.016%	$395K	—	100x	as long as short
Hyperliquid ZEC	+0.0172%	1h	1,494.3	+0.059%	$778.0M	$445.3M	10x	as long as short
Arcus ZEC-USD	+0.0221%	1h	1,494.1	+0.044%	$605K	$8.7M	10x	as long as short
Lighter RH ZEC	+0.0232%	1h	1,495.5	+0.136%	$2.1M	$7.4M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0233%	1h	1,494.6	+0.079%	$2.3M	$3.9M	15x	as long as short
Lighter ZEC	+0.0280%	1h	1,495.6	+0.144%	$19.6M	$46.7M	20x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0480%	1h	1,496	+0.173%	$3.7M	$10.1M	50x	as long as short