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Funding arb · Price arb /

ZEC

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 05:00 UTC+0.0208%/8h= +22.8% APRpaid last 24h +0.035%
Price spread now: Deribit against Bybit+0.084%7-day average +0.081% · you sell dearer than you buy
Net, funding: paid 7d − costs−$29as in the Funding arb table
Net, price: spread back to 7d avg − costs−$27as in the Price arb table
costs, in and out, $10k−$270.273% of the position
Long on BybitShort on Deribit
What this pair did over the last
the charts below follow
Funding, last 7 days−0.019%−$2 on $10k
Price spread, last 4 days (all we have)+0.444%+$44 · spread now +0.084%, 7d avg +0.081%
Together, before fees+0.425%+$43 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.081%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.019% in total (about -1.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit ZECUSDT1,455.70.0100pay 0.0100% / 8h3h 24m$260.8M$599.1M75x
ShortDeribit ZEC_USDC-PERPETUAL1,456.90.0308get 0.0038% / 1h24m 16s$613K$1.3M25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Deribit 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

Funding earned
$43.68
Price spread: +0.084% → +0.081%
$0.33
Slippage, 4 orders
−$9.34
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee Deribit: 3.5 bp × 2 orders
−$7
Net
$16.67
Costs to cover
0.273%
Break-even
4.3 days
Slippage from Bybit: live order book, 5 min ago; Deribit: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Bybit live order book, 5 min ago0.03 bp5.5 bp −$68.4 bp −$8416.8 bp −$1,680doesn't fit
Sell Deribit live order book, 5 min ago4.63 bp8.1 bp −$814.8 bp −$148doesn't fitdoesn't fit

ZEC on 51 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective ZEC/USDC PERP−0.3042%1h1,458+0.156%$34K$272K12xas long as short
Hotstuff ZEC-PERP−0.0080%1h1,456.4+0.047%$6K$1K10xas long as short
BloFin ZEC-USDT−0.0071%8h1,456.5+0.053%$29.4M$70.6M75xas long as short
dYdX ZEC-USD0.0000%1h1,456.3+0.041%$410K$36K5xas long as short
Perpl ZEC0.0000%43m1,455.6−0.006%$83K$239K10xas long as short
gTrade (Gains Network) ZEC/USDL +0.0007% / S −0.0006%1h1,456.6+0.061%$5.2M—150xas long as short
Orderly PERP_ZEC_USDC+0.0063%8h1,456.1+0.027%$291K$943K20xas long as short
GMX ZEC/USD [WBTC.b-USDC]L +0.0084% / S −0.0035%1h1,456.6+0.061%$434K—100xas long as short
Popdex ZECUSDT+0.0096%1h1,456.2+0.036%$174K$1.7M50xas long as short
Katana Perps ZEC-USD+0.0100%8h1,456.4+0.046%$14K$820K10xas long as short
Show all 51 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Paradex ZEC-USD-PERP+0.0100%8h1,456.8+0.075%$60K$43K10xas long as short
Nado ZEC-PERP+0.0100%1h1,456.9+0.082%$2.8M$6.6M10xas long as short
Aster ZECUSDT+0.0100%8h1,456.4+0.049%$14.5M$27.9M75xas long as short
Pacifica ZEC+0.0100%1h1,457.1+0.093%$1.7M$2.4M10xas long as short
Binance ZECUSDT+0.0100%8h1,456.6+0.061%$670.4M$2.19B75xas long as short
Bybit ZECUSDTlong+0.0100%8h1,455.7long leg$260.8M$599.1M75x
OKX ZEC-USDT-SWAP+0.0100%8h1,456.3+0.036%$178.7M$1.21B50xas long as short
Ondo Perps ZEC-USD.P+0.0100%1h1,455.7−0.001%$395K$434K5xas long as short
Bulk ZEC-USD+0.0100%1h1,453.9−0.127%$878K$18K10xas long as short
Gate ZEC_USDT+0.0100%8h1,456.2+0.034%$51.4M$171.7M75xas long as short
MEXC ZEC_USDT+0.0100%8h1,456.5+0.053%$218.9M$770.3M150xas long as short
KuCoin ZECUSDTM+0.0100%8h1,456.4+0.048%$102.8M$53.4M75xas long as short
Bitget ZECUSDT+0.0100%8h1,456.4+0.049%$165.7M$269.6M75xas long as short
BingX ZEC-USDT+0.0100%8h1,456.4+0.045%—$106.9M—as long as short
Variational Omni ZEC+0.0100%8h1,455.5−0.018%$47.7M$32.8M—as long as short
edgeX ZECUSDC+0.0100%4h1,456.2+0.031%$567K$8.5M20xas long as short
GRVT ZEC_USDT_Perp+0.0100%8h1,456.5+0.054%$3.0M$463K10xas long as short
ApeX Omni ZECUSDT+0.0100%1h1,456.4+0.049%$402K$943K50xas long as short
StandX ZEC-USD+0.0100%1h1,456.6+0.058%$49K$4.7M30xas long as short
Polymarket Perps ZEC-USD+0.0100%1h1,456.4+0.047%$354K$1.8M10xas long as short
Bullet ZEC-USD+0.0100%1h1,456.5+0.055%$160K$185K20xas long as short
Derive ZEC-PERP+0.0100%1h1,455.1−0.045%$444K$509K6.7xas long as short
SunX ZEC-USDT+0.0100%8h1,459.1+0.234%$4K$1.1M20xas long as short
SoDEX ZEC-USD+0.0100%1h1,456.4+0.045%$233K$3.2M10xas long as short
HTX ZEC-USDT+0.0100%8h1,455.7−0.002%$2.7M$18.4M75xas long as short
Phemex ZECUSDT+0.0100%8h1,456.5+0.050%$3.8M$4.9M50xas long as short
Extended ZEC-USD+0.0104%1h1,456+0.019%$2.8M$7.7M10xas long as short
Aevo ZEC-PERP+0.0104%1h1,456.1+0.024%$47K$151K20xas long as short
Lighter RH ZEC+0.0112%1h1,457.7+0.133%$2.1M$7.0M10xas long as short
Phoenix ZEC+0.0116%1h1,457.6+0.126%$4.6M$1.3M10xas long as short
01 Exchange ZECUSD+0.0128%1h1,456.8+0.074%$8K$7K5xas long as short
Lighter ZEC+0.0144%1h1,458+0.157%$19.2M$45.1M20xas long as short
Hyperliquid ZEC+0.0144%1h1,457.6+0.129%$758.9M$424.2M10xas long as short
Kalshi KXZECPERP+0.0162%8h1,457.1+0.096%$1.5M$4.4M2.2xas long as short
Backpack ZEC_USDC_PERP+0.0182%1h1,456.9+0.083%$2.4M$3.8M15xas long as short
RISEx ZEC/USDC+0.0216%1h1,456.5+0.050%$921K$1.1M10xas long as short
Deribit ZEC_USDC-PERPETUALshort+0.0308%1h1,456.9+0.084%$613K$1.3M25x
Kraken Futures PF_ZECUSD+0.0333%1h1,456.5+0.055%$18.0M$45.2M25xas long as short
Arcus ZEC-USD+0.0344%1h1,458.3+0.176%$697K$8.2M10xas long as short
Coinbase International ZEC-PERP-INTX+0.0464%1h1,458.6+0.199%$3.8M$9.2M50xas long as short
Aftermath Perps ZECUSD+0.0677%1h1,456.7+0.070%$45K$49K10xas long as short