Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0203%/8h= −22.2% APRpaid last 24h +0.007%

Price spread now: KuCoin against Deribit−0.021%7-day average −0.078% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$340.341% of the position

Long on Deribit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.143%−$14 on $10k

Price spread, last 4 days (all we have)−1.572%−$157 · spread now −0.021%, 7d avg −0.078%

Together, before fees−1.715%−$171 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.057% dearer against Deribit than usual: you sell high and buy low (spread −0.021% now, against its 7-day average of −0.078%): +$6 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 22 hours. At the pace of the last 7 days (−0.143% in total) that is about 2.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit ZEC_USDC-PERPETUAL	1,456.9	0.0303	pay 0.0038% / 1h	27m 48s	$613K	$1.3M	25x
Short	KuCoin ZECUSDTM	1,456.6	0.0100	get 0.0100% / 8h	5h 27m	$102.0M	$56.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Deribit. 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 DeribitbpFee KuCoinbpOrdersPrice spread, now −0.021%Rate

Funding earned: −$42.57
Price spread: −0.021% → −0.078%: $5.7
Slippage, 4 orders: −$15.07
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$70.94
Costs to cover: 0.341%
Break-even: never at this rate

Slippage from Deribit: live order book, 1 min ago; KuCoin: live order book, 11 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 Deribit live order book, 1 min ago	3.84 bp	7.3 bp −$7	13.2 bp −$132	doesn't fit	doesn't fit
Sell KuCoin live order book, 11 min ago	1.21 bp	8.6 bp −$9	10.8 bp −$108	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	−0.3244%	1h	1,455.5	−0.093%	$34K	$272K	12x	as long as short
BloFin ZEC-USDT	−0.0082%	8h	1,456.6	−0.015%	$29.1M	$71.0M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,456.7	−0.012%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,455.8	−0.073%	$410K	$44K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,457.6	+0.049%	$1.5M	$5.1M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,456.1	−0.050%	$83K	$243K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,456.6	−0.015%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0044%	8h	1,456	−0.062%	$291K	$979K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0061% / S −0.0011%	1h	1,456.6	−0.016%	$409K	—	100x	as long as short
Phoenix ZEC	+0.0074%	1h	1,459.6	+0.185%	$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
ApeX Omni ZECUSDT	+0.0094%	1h	1,456.7	−0.012%	$410K	$911K	50x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,456.5	−0.023%	$173K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,457.5	+0.043%	$23K	$869K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,456.6	−0.019%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,456.6	−0.020%	$2.6M	$6.5M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,457.4	+0.037%	$762.7M	$438.9M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,456.6	−0.015%	$14.5M	$28.3M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,456.6	−0.021%	$1.7M	$2.6M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,456.5	−0.027%	$667.1M	$2.27B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,455.7	−0.079%	$266.0M	$611.7M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,456.1	−0.053%	$178.7M	$1.24B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,457.5	+0.044%	$396K	$436K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,451.2	−0.387%	$879K	$21K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,456.6	−0.020%	$49.6M	$173.7M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,456.8	−0.005%	$214.1M	$776.6M	150x	as long as short
KuCoin ZECUSDTMshort	+0.0100%	8h	1,456.6	−0.021%	$102.0M	$56.2M	75x
Bitget ZECUSDT	+0.0100%	8h	1,456.1	−0.049%	$161.8M	$278.3M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,456.6	−0.016%	—	$97.5M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,457.2	+0.020%	$2.4M	$3.8M	15x	as long as short
Variational Omni ZEC	+0.0100%	8h	1,454.2	−0.181%	$47.0M	$32.4M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,453.2	−0.253%	$565K	$8.9M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,458.3	+0.096%	$3.0M	$419K	10x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,457.2	+0.023%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,456.6	−0.018%	$331K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,457.1	+0.015%	$160K	$185K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,454.9	−0.133%	$444K	$521K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,459	+0.146%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,456.4	−0.029%	$233K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,456	−0.061%	$2.6M	$18.4M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,456.9	+0.001%	$3.8M	$5.1M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,456.5	−0.024%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,456.2	−0.048%	$47K	$153K	20x	as long as short
01 Exchange ZECUSD	+0.0128%	1h	1,457.7	+0.058%	$8K	$7K	5x	as long as short
Lighter ZEC	+0.0192%	1h	1,457.5	+0.045%	$19.0M	$46.5M	20x	as long as short
Kraken Futures PF_ZECUSD	+0.0196%	1h	1,456.3	−0.041%	$18.0M	$44.6M	25x	as long as short
Arcus ZEC-USD	+0.0277%	1h	1,458.2	+0.092%	$709K	$8.5M	10x	as long as short
Deribit ZEC_USDC-PERPETUALlong	+0.0303%	1h	1,456.9	long leg	$613K	$1.3M	25x
Lighter RH ZEC	+0.0344%	1h	1,458.5	+0.111%	$2.0M	$6.9M	10x	as long as short
RISEx ZEC/USDC	+0.0409%	1h	1,456.8	−0.003%	$831K	$1.0M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0456%	1h	1,458	+0.076%	$3.7M	$9.1M	50x	as long as short
Aftermath Perps ZECUSD	+0.0698%	1h	1,455.8	−0.075%	$45K	$49K	10x	as long as short