Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0326%/8h= −35.7% APRpaid last 24h −0.008%

Price spread now: Kraken Futures against Bybit+0.039%7-day average +0.048% · you sell dearer than you buy

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$330.329% of the position

Long on Bybit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.332%−$33 on $10k

Price spread, last 3 days (all we have)+0.199%+$20 · spread now +0.039%, 7d avg +0.048%

Together, before fees−0.134%−$13 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.048%, so right now this pair is about funding alone: −$10 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ZECUSDT	1,473.3	−0.0016	get 0.0016% / 8h	7h 48m	$275.1M	$645.6M	75x
Short	Kraken Futures PF_ZECUSD	1,473.8	−0.0342	pay 0.0043% / 1h	48m 26s	$18.0M	$43.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.039%Rate

Funding earned: −$68.42
Price spread: +0.039% → +0.048%: −$0.92
Slippage, 4 orders: −$11.9
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$102.24
Costs to cover: 0.329%
Break-even: never at this rate

Slippage from Bybit: live order book, 6 min ago; Kraken Futures: live order book, 6 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, 6 min ago	0.03 bp	6.8 bp −$7	9.5 bp −$95	18.9 bp −$1,886	doesn't fit
Sell Kraken Futures live order book, 6 min ago	1.29 bp	9.5 bp −$10	12.3 bp −$123	20.8 bp −$2,077	102.3 bp −$51.1K

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	1,475.3	+0.136%	$34K	$275K	12x	as long as short
Kraken Futures PF_ZECUSDshort	−0.0342%	1h	1,473.8	+0.039%	$18.0M	$43.5M	25x
Ondo Perps ZEC-USD.P	−0.0180%	1h	1,473.4	+0.010%	$400K	$517K	5x	as long as short
BloFin ZEC-USDT	−0.0103%	8h	1,474.7	+0.096%	$29.5M	$74.4M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,473.4	+0.013%	$6K	$2K	10x	as long as short
Variational Omni ZEC	−0.0061%	8h	1,473.2	−0.004%	$47.9M	$34.4M	—	as long as short
Bybit ZECUSDTlong	−0.0016%	8h	1,473.3	long leg	$275.1M	$645.6M	75x
dYdX ZEC-USD	0.0000%	1h	1,474.3	+0.073%	$415K	$104K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,475.1	+0.122%	$960K	$5.6M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,472.9	−0.021%	$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/USD	L +0.0007% / S −0.0006%	1h	1,473.9	+0.043%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0015%	8h	1,473.7	+0.032%	$294K	$1.4M	20x	as long as short
OKX ZEC-USDT-SWAP	+0.0040%	8h	1,473.5	+0.016%	$181.8M	$1.33B	50x	as long as short
01 Exchange ZECUSD	+0.0048%	1h	1,473.3	+0.005%	$8K	$8K	5x	as long as short
Phoenix ZEC	+0.0054%	1h	1,474.9	+0.111%	$4.7M	$1.6M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0055% / S −0.0010%	1h	1,473.7	+0.034%	$379K	—	100x	as long as short
Lighter ZEC	+0.0096%	1h	1,475.3	+0.137%	$19.2M	$50.2M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,472.8	−0.029%	$175K	$1.9M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,473.6	+0.026%	$13K	$848K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,473.2	−0.005%	$61K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,473.6	+0.021%	$2.6M	$6.7M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,474.7	+0.098%	$764.8M	$459.5M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,473.4	+0.011%	$15.0M	$32.2M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,474.2	+0.061%	$1.7M	$2.9M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,473.8	+0.034%	$684.4M	$2.43B	75x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,474.8	+0.106%	$691K	$8.5M	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,473.6	+0.026%	$51.4M	$178.2M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,473.7	+0.031%	$232.0M	$822.0M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,473.7	+0.030%	$105.1M	$56.1M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,473.8	+0.037%	$163.7M	$298.1M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,472.9	−0.024%	—	$6.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,475.8	+0.175%	$575K	$9.2M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,477.2	+0.269%	$3.0M	$454K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,474.3	+0.071%	$431K	$858K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,475.6	+0.161%	$110K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,473.4	+0.010%	$334K	$1.9M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,473.6	+0.021%	$128K	$159K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,472	−0.088%	$459K	$509K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,475.5	+0.155%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,473.8	+0.035%	$243K	$4.3M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,474.6	+0.090%	$2.5M	$22.2M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,475.7	+0.166%	$3.9M	$5.4M	50x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,474.3	+0.074%	$897K	$28K	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,474	+0.054%	$3.2M	$7.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,474	+0.049%	$82K	$190K	20x	as long as short
RISEx ZEC/USDC	+0.0228%	1h	1,473.6	+0.026%	$842K	$1.2M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0245%	1h	1,474.9	+0.110%	$615K	$1.3M	25x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0448%	1h	1,477	+0.251%	$3.8M	$10.5M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0625%	1h	1,476.1	+0.193%	$2.5M	$3.8M	15x	as long as short
Lighter RH ZEC	+0.0712%	1h	1,476.2	+0.200%	$2.0M	$8.0M	10x	as long as short
Aftermath Perps ZECUSD	+0.0783%	1h	1,474.8	+0.106%	$44K	$48K	10x	as long as short