Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0057%/8h= −6.2% APRpaid last 24h −0.003%

Price spread now: Gate against Bullet−0.174%7-day average −0.019% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$340.344% of the position

Long on Bullet Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.038%−$4 on $10k

Price spread, last 3 days (all we have)−0.135%−$14 · spread now −0.174%, 7d avg −0.019%

Together, before fees−0.173%−$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Gate is 0.155% cheaper against Bullet than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of −0.019%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet ZEC-USD	1,469.7	0.0100	pay 0.0013% / 1h	24m 42s	$128K	$159K	20x
Short	Gate ZEC_USDT	1,467.1	0.0043	get 0.0043% / 8h	24m 42s	$50.5M	$186.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.174%Rate

Funding earned: −$11.97
Price spread: −0.174% → −0.019%: −$15.45
Slippage, 4 orders: −$11.39
Fee Bullet: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$61.82
Costs to cover: 0.344%
Break-even: never at this rate

Slippage from Bullet: live order book, 54 min ago; Gate: 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 Bullet live order book, 54 min ago	1.81 bp	6.6 bp −$7	10.7 bp −$107	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	0.37 bp	10.9 bp −$11	15.8 bp −$158	28.7 bp −$2,870	53.4 bp −$26.7K

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	−0.3089%	1h	1,472.9	+0.220%	$34K	$275K	12x	as long as short
Ondo Perps ZEC-USD.P	−0.0270%	1h	1,466.3	−0.231%	$399K	$518K	5x	as long as short
Kraken Futures PF_ZECUSD	−0.0225%	1h	1,471.2	+0.100%	$17.9M	$44.3M	25x	as long as short
Bybit ZECUSDT	−0.0116%	8h	1,466.7	−0.202%	$274.3M	$654.6M	75x	as long as short
BloFin ZEC-USDT	−0.0102%	8h	1,470.8	+0.077%	$29.7M	$75.1M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,469.8	+0.004%	$6K	$2K	10x	as long as short
Variational Omni ZEC	−0.0060%	8h	1,471.8	+0.141%	$46.8M	$33.9M	—	as long as short
ApeX Omni ZECUSDT	−0.0006%	1h	1,470.3	+0.039%	$431K	$842K	50x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,467.6	−0.145%	$413K	$104K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,468.6	−0.073%	$901K	$5.6M	2.2x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl ZEC	0.0000%	43m	1,469.4	−0.018%	$83K	$404K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,470.1	+0.030%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0013%	8h	1,470.5	+0.052%	$295K	$1.4M	20x	as long as short
01 Exchange ZECUSD	+0.0016%	1h	1,469.9	+0.012%	$8K	$8K	5x	as long as short
Phoenix ZEC	+0.0024%	1h	1,470.8	+0.073%	$4.6M	$1.6M	10x	as long as short
OKX ZEC-USDT-SWAP	+0.0039%	8h	1,467	−0.180%	$180.9M	$1.34B	50x	as long as short
Gate ZEC_USDTshort	+0.0043%	8h	1,467.1	−0.174%	$50.5M	$186.8M	75x
GMX ZEC/USD [WBTC.b-USDC]	L +0.0055% / S −0.0010%	1h	1,470.1	+0.030%	$371K	—	100x	as long as short
Lighter ZEC	+0.0096%	1h	1,473.1	+0.231%	$19.2M	$52.4M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,469.5	−0.016%	$175K	$1.9M	50x	as long as short
Katana Perps ZEC-USD	+0.0097%	8h	1,466.1	−0.248%	$13K	$834K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,467	−0.186%	$60K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,469.7	+0.003%	$2.6M	$6.8M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,472.5	+0.191%	$763.3M	$472.1M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,471.1	+0.094%	$15.0M	$32.7M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,468.3	−0.094%	$1.7M	$2.9M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,467.8	−0.130%	$682.8M	$2.46B	75x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,468.7	−0.070%	$701K	$8.4M	10x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,469.8	+0.004%	$894K	$39K	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,471.4	+0.116%	$232.1M	$839.4M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,471.4	+0.118%	$103.6M	$56.0M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,467.1	−0.180%	$162.6M	$301.3M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,467.1	−0.174%	—	$102.4M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,470.6	+0.061%	$513K	$9.2M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,473.2	+0.236%	$3.0M	$454K	10x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,471.9	+0.150%	$110K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,469.5	−0.013%	$343K	$1.8M	10x	as long as short
Bullet ZEC-USDlong	+0.0100%	1h	1,469.7	long leg	$128K	$159K	20x
Derive ZEC-PERP	+0.0100%	1h	1,468.9	−0.055%	$448K	$498K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,472	+0.159%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,470.5	+0.052%	$238K	$4.4M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,470.6	+0.059%	$2.5M	$23.1M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,471.7	+0.137%	$3.8M	$5.3M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,467.3	−0.162%	$3.2M	$7.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,470.2	+0.033%	$37K	$366K	20x	as long as short
RISEx ZEC/USDC	+0.0132%	1h	1,467.5	−0.148%	$823K	$1.2M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0158%	1h	1,471.5	+0.120%	$614K	$1.3M	25x	as long as short
Backpack ZEC_USDC_PERP	+0.0414%	1h	1,472.3	+0.178%	$2.4M	$3.8M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0432%	1h	1,473.6	+0.269%	$3.8M	$10.6M	50x	as long as short
Lighter RH ZEC	+0.0456%	1h	1,469.8	+0.007%	$2.0M	$8.4M	10x	as long as short
Aftermath Perps ZECUSD	+0.0725%	1h	1,471.4	+0.115%	$46K	$47K	10x	as long as short