Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0117%/8h= +12.8% APRpaid last 24h +0.008%

Price spread now: gTrade (Gains Network) against Bybit+0.277%52s7-day average +0.024% · 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−$2832.833% of the position

Long on Bybit Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.065%−$7 on $10k

Price spread, last 3 days (all we have)−0.098%−$10 · spread now +0.277%, 7d avg +0.024%

Together, before fees−0.163%−$16 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and gTrade (Gains Network) is 0.253% dearer against Bybit than usual: you sell high and buy low: +$25 more if the spread goes back to its 7-day average of +0.024%. Mind the row above: over the last 3 days funding on this pair cost −0.065%, so the current rate has only just turned in your favour. The two prices were read 52 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	Bybit ZECUSDT	1,473.4	−0.0111	get 0.0111% / 8h	7h 51m	$274.9M	$647.2M	75x
Short	gTrade (Gains Network) ZEC/USD	1,477.4	L +0.0007% / S −0.0006%	get 0.0001% / 1h	51m 36s	$5.2M	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now +0.277%Rate

Funding earned: $24.57
Price spread: +0.277% → +0.024%: $25.27
Slippage, 4 orders: −$262.35
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$233.51
Costs to cover: 2.833%
Break-even: 73.5 days

Slippage from Bybit: live order book, 3 min ago; gTrade (Gains Network): virtual book (oracle venue), 2 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, 3 min ago	0.03 bp	6.8 bp −$7	9.5 bp −$95	18.9 bp −$1,886	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 2 min ago	130.04 bp	135.0 bp −$135	584.7 bp −$5,847	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	−0.3321%	1h	1,475	+0.110%	$34K	$275K	12x	as long as short
Kraken Futures PF_ZECUSD	−0.0342%	1h	1,474.8	+0.098%	$18.0M	$43.8M	25x	as long as short
Ondo Perps ZEC-USD.P	−0.0206%	1h	1,474.7	+0.092%	$400K	$517K	5x	as long as short
Bybit ZECUSDTlong	−0.0111%	8h	1,473.4	long leg	$274.9M	$647.2M	75x
BloFin ZEC-USDT	−0.0104%	8h	1,476.6	+0.221%	$29.6M	$74.8M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,475.4	+0.141%	$6K	$2K	10x	as long as short
Variational Omni ZEC	−0.0060%	8h	1,472.4	−0.065%	$47.7M	$34.4M	—	as long as short
dYdX ZEC-USD	0.0000%	1h	1,474.3	+0.065%	$415K	$104K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,477.3	+0.268%	$960K	$5.6M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,476.6	+0.217%	$84K	$405K	10x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) ZEC/USDshort	L +0.0007% / S −0.0006%	1h	1,477.4	+0.277%	$5.2M	—	150x
Orderly PERP_ZEC_USDC	+0.0015%	8h	1,475	+0.114%	$295K	$1.4M	20x	as long as short
OKX ZEC-USDT-SWAP	+0.0040%	8h	1,473.7	+0.022%	$181.9M	$1.33B	50x	as long as short
01 Exchange ZECUSD	+0.0048%	1h	1,474.5	+0.077%	$8K	$8K	5x	as long as short
Phoenix ZEC	+0.0054%	1h	1,477	+0.247%	$4.7M	$1.6M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0055% / S −0.0010%	1h	1,477.2	+0.264%	$378K	—	100x	as long as short
Gate ZEC_USDT	+0.0064%	8h	1,473.8	+0.032%	$51.5M	$178.0M	75x	as long as short
Lighter ZEC	+0.0096%	1h	1,474.7	+0.095%	$19.2M	$50.2M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,473.9	+0.035%	$174K	$1.9M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,474.2	+0.057%	$13K	$850K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,473.4	+0.002%	$61K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,474.1	+0.051%	$2.6M	$6.7M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,475	+0.112%	$764.9M	$459.4M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,473.6	+0.018%	$15.0M	$32.3M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,473.8	+0.033%	$1.7M	$2.9M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,473.8	+0.029%	$684.4M	$2.44B	75x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,475.2	+0.123%	$688K	$8.5M	10x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,470.8	−0.176%	$895K	$33K	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,473.1	−0.016%	$233.0M	$821.5M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,473.7	+0.024%	$105.1M	$56.6M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,473.8	+0.033%	$163.9M	$299.0M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,474	+0.045%	—	$6.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,475.8	+0.168%	$575K	$9.2M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,477.2	+0.263%	$3.0M	$454K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,476.5	+0.216%	$432K	$858K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,476.9	+0.240%	$111K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,476.4	+0.207%	$335K	$1.9M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,476.9	+0.238%	$128K	$159K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,473.7	+0.023%	$459K	$509K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,478.7	+0.364%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,474.8	+0.099%	$243K	$4.4M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,475.8	+0.167%	$2.5M	$22.3M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,475.2	+0.124%	$3.9M	$5.4M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,473.9	+0.034%	$3.2M	$7.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,471.2	−0.147%	$82K	$250K	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0185%	1h	1,476	+0.180%	$616K	$1.3M	25x	as long as short
RISEx ZEC/USDC	+0.0228%	1h	1,474.5	+0.077%	$843K	$1.2M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0448%	1h	1,477.8	+0.301%	$3.8M	$10.6M	50x	as long as short
Lighter RH ZEC	+0.0640%	1h	1,475.7	+0.162%	$2.0M	$8.0M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0654%	1h	1,475	+0.111%	$2.5M	$3.8M	15x	as long as short
Aftermath Perps ZECUSD	+0.0777%	1h	1,475.7	+0.163%	$46K	$46K	10x	as long as short