Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:22 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.019%

Price spread now: Perpl against Bullet−0.014%7-day average −0.048% · you buy dearer than you sell

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

Long on Bullet Short on Perpl

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.193%−$19 on $10k

Price spread, last 4 days (all we have)+0.028%+$3 · spread now −0.014%, 7d avg −0.048%

Together, before fees−0.166%+ Points / potential airdropPerpl: Active · farm board−$17 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Perpl is 0.034% dearer against Bullet than usual: you sell high and buy low (spread −0.014% now, against its 7-day average of −0.048%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 27 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet ZEC-USD	1,452.5	0.0100	pay 0.0013% / 1h	7m 51s	$160K	$185K	20x
Short	Perpl ZEC	1,452.3	0	get 0.0000% / 43m	38m 51s	$83K	$241K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Perpl against Bullet. 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 BulletbpFee PerplbpOrdersPrice spread, now −0.014%Rate

Funding earned: −$21
Price spread: −0.014% → −0.048%: $3.44
Slippage, 4 orders: no order book: not counted
Fee Bullet: 4 bp × 2 orders: −$8
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Net: −$39.36
Costs to cover: 0.218%
Break-even: never at this rate

Slippage unknown: Bullet: live order book, 56 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 Bullet live order book, 56 min ago	1.80 bp	6.8 bp −$7	11.1 bp −$111	doesn't fit	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	−0.3244%	1h	1,455.6	+0.208%	$34K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,453.9	+0.092%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0078%	8h	1,453	+0.034%	$29.3M	$70.6M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,452.5	−0.004%	$409K	$42K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,453.3	+0.050%	$1.5M	$4.5M	2.2x	as long as short
Perpl ZECshort	0.0000%	43m	1,452.3	−0.014%	$83K	$241K	10x
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,452.6	+0.001%	$5.1M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0053%	8h	1,452.2	−0.021%	$291K	$966K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0061% / S −0.0011%	1h	1,452.3	−0.017%	$408K	—	100x	as long as short
Phoenix ZEC	+0.0074%	1h	1,455	+0.168%	$4.6M	$1.4M	10x	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	1,452.5	−0.001%	$173K	$1.7M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,452.6	+0.003%	$12K	$868K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,454.1	+0.106%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,453.6	+0.072%	$2.6M	$6.3M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,453.4	+0.059%	$755.2M	$433.6M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,452.2	−0.027%	$14.5M	$28.0M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,453.8	+0.085%	$1.6M	$2.5M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,452	−0.040%	$664.8M	$2.22B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,451.5	−0.074%	$262.3M	$606.4M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,452.1	−0.032%	$177.5M	$1.22B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,455.3	+0.190%	$396K	$432K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,457.5	+0.338%	$883K	$21K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,452	−0.038%	$50.0M	$175.5M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,452.1	−0.030%	$213.3M	$781.2M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,452.3	−0.017%	$101.7M	$55.4M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,452.1	−0.028%	$161.3M	$273.5M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,451.7	−0.060%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,456.4	+0.264%	$47.6M	$32.8M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,457.1	+0.312%	$568K	$8.7M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,457.6	+0.346%	$3.0M	$432K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,456.2	+0.251%	$410K	$911K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,458	+0.379%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,452.3	−0.017%	$367K	$1.9M	10x	as long as short
Bullet ZEC-USDlong	+0.0100%	1h	1,452.5	long leg	$160K	$185K	20x
Derive ZEC-PERP	+0.0100%	1h	1,451.4	−0.081%	$443K	$521K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,456.4	+0.263%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,452.4	−0.009%	$232K	$3.4M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,453.3	+0.054%	$2.7M	$18.1M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,452.9	+0.023%	$3.8M	$5.1M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0104%	1h	1,453	+0.032%	$2.4M	$3.8M	15x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,451.7	−0.057%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,452.2	−0.025%	$47K	$153K	20x	as long as short
01 Exchange ZECUSD	+0.0136%	1h	1,452.6	+0.005%	$8K	$7K	5x	as long as short
Kraken Futures PF_ZECUSD	+0.0196%	1h	1,452.3	−0.018%	$18.0M	$44.7M	25x	as long as short
Lighter ZEC	+0.0232%	1h	1,453.9	+0.097%	$19.0M	$46.8M	20x	as long as short
Arcus ZEC-USD	+0.0277%	1h	1,454.7	+0.148%	$719K	$8.5M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0311%	1h	1,453.1	+0.037%	$611K	$1.3M	25x	as long as short
Lighter RH ZEC	+0.0360%	1h	1,454.3	+0.119%	$2.0M	$6.9M	10x	as long as short
RISEx ZEC/USDC	+0.0409%	1h	1,453.2	+0.043%	$831K	$1.0M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0456%	1h	1,452.8	+0.019%	$3.7M	$9.1M	50x	as long as short
Aftermath Perps ZECUSD	+0.0690%	1h	1,456.6	+0.279%	$45K	$49K	10x	as long as short