Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0091%/8h= +10.0% APRpaid last 24h +0.016%

Price spread now: Backpack against Bybit+0.065%7-day average +0.393% · you sell dearer than you buy

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$270.267% of the position

Long on Bybit Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.306%−$31 on $10k

Price spread, last 7 days−0.945%−$94 · spread now +0.065%, 7d avg +0.393%

Together, before fees−1.251%−$125 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.329% cheaper against Bybit than usual: you would sell low and buy high (spread +0.065% now, against its 7-day average of +0.393%). If the spread goes back, that is −$33 on $10k: about 12 days of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −0.306%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ZECUSDT	1,454.9	0.0009	pay 0.0009% / 8h	2h 22m	$267.6M	$677.1M	75x
Short	Backpack ZEC_USDC_PERP	1,455.8	0.0100	get 0.0013% / 1h	22m 42s	$2.3M	$4.1M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Bybit. 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 BybitbpFee BackpackbpOrdersPrice spread, now +0.065%Rate

Funding earned: $19.13
Price spread: +0.065% → +0.393%: −$32.85
Slippage, 4 orders: −$5.7
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$40.42
Costs to cover: 0.267%
Break-even: 21.8 days

Slippage from Bybit: live order book, 1 min ago; Backpack: live order book, 1 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 Bybit live order book, 1 min ago	0.03 bp	5.5 bp −$6	6.6 bp −$66	20.1 bp −$2,015	38.9 bp −$19.5K
Sell Backpack live order book, 1 min ago	0.03 bp	9.7 bp −$10	26.0 bp −$260	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	−0.3476%	1h	1,433.1	−1.494%	$33K	$275K	12x	as long as short
BloFin ZEC-USDT	−0.0086%	8h	1,454.8	−0.005%	$28.6M	$75.4M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,455.8	+0.061%	$6K	$2K	10x	as long as short
Kraken Futures PF_ZECUSD	−0.0071%	1h	1,454.6	−0.018%	$17.7M	$44.7M	25x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,455.1	+0.012%	$410K	$106K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,455.4	+0.032%	$933K	$5.7M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,454.4	−0.032%	$83K	$401K	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	0.0000%	1h	1,455.4	+0.034%	$592K	$1.3M	25x	as long as short
Variational Omni ZEC	+0.0005%	8h	1,459.3	+0.302%	$45.7M	$33.1M	—	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,455.1	+0.014%	$5.2M	—	150x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ZECUSDTlong	+0.0009%	8h	1,454.9	long leg	$267.6M	$677.1M	75x
Orderly PERP_ZEC_USDC	+0.0016%	8h	1,454.7	−0.014%	$292K	$1.5M	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0023% / S +0.0072%	1h	1,454.6	−0.017%	$565K	—	100x	as long as short
01 Exchange ZECUSD	+0.0056%	1h	1,454.8	−0.005%	$8K	$8K	5x	as long as short
OKX ZEC-USDT-SWAP	+0.0059%	8h	1,455.1	+0.017%	$173.0M	$1.36B	50x	as long as short
Gate ZEC_USDT	+0.0077%	8h	1,455	+0.008%	$49.4M	$190.3M	75x	as long as short
Aster ZECUSDT	+0.0092%	8h	1,455.3	+0.031%	$15.3M	$34.5M	75x	as long as short
Katana Perps ZEC-USD	+0.0095%	8h	1,454.6	−0.017%	$13K	$871K	10x	as long as short
Lighter ZEC	+0.0096%	1h	1,456.7	+0.123%	$18.8M	$54.5M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,454.6	−0.017%	$172K	$2.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,455.6	+0.048%	$60K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,456	+0.080%	$2.5M	$7.1M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,456.1	+0.084%	$752.6M	$493.9M	10x	as long as short
Pacifica ZEC	+0.0100%	1h	1,455.8	+0.064%	$1.6M	$3.0M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,455.3	+0.031%	$663.6M	$2.53B	75x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,458.6	+0.256%	$395K	$522K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,445	−0.678%	$890K	$32K	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,455.1	+0.016%	$215.7M	$896.4M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,455.3	+0.025%	$103.0M	$57.1M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,455.6	+0.049%	$161.1M	$313.3M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,454.2	−0.047%	—	$6.8M	—	as long as short
Backpack ZEC_USDC_PERPshort	+0.0100%	1h	1,455.8	+0.065%	$2.3M	$4.1M	15x
edgeX ZECUSDC	+0.0100%	4h	1,457.3	+0.170%	$490K	$9.6M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,459.6	+0.326%	$3.0M	$510K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,458.8	+0.266%	$455K	$800K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,456.6	+0.121%	$109K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,454.3	−0.040%	$346K	$2.0M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,454.3	−0.040%	$127K	$161K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,453.5	−0.092%	$442K	$498K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,456.8	+0.132%	$3K	$1.3M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,454.9	+0.001%	$221K	$4.7M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,455.2	+0.022%	$2.4M	$25.0M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,455.2	+0.019%	$3.8M	$5.4M	50x	as long as short
Phoenix ZEC	+0.0103%	1h	1,460.3	+0.375%	$4.6M	$1.6M	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,455.5	+0.040%	$3.3M	$6.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,454.5	−0.023%	$36K	$362K	20x	as long as short
RISEx ZEC/USDC	+0.0219%	1h	1,455.3	+0.027%	$868K	$1.9M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0440%	1h	1,456.5	+0.113%	$3.7M	$11.4M	50x	as long as short
Aftermath Perps ZECUSD	+0.0448%	1h	1,454.9	+0.001%	$39K	$32K	10x	as long as short
Arcus ZEC-USD	+0.0518%	1h	1,456.8	+0.129%	$750K	$8.0M	10x	as long as short
Lighter RH ZEC	+0.0648%	1h	1,457.7	+0.192%	$1.9M	$8.5M	10x	as long as short