Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.018%

Price spread now: Bulk against Nado−0.216%7-day average −0.064% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$160.160% of the position

Long on Nado Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.050%−$5 on $10k

Price spread, last 4 days (all we have)−0.061%−$6 · spread now −0.216%, 7d avg −0.064%

Together, before fees−0.112%+ Points / potential airdropNado: Active · farm board−$11 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bulk is 0.152% cheaper against Nado than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of −0.064%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado ZEC-PERP	1,460.4	0.0100	pay 0.0012% / 1h	17m 13s	$2.8M	$6.7M	10x
Short	Bulk ZEC-USD	1,457.2	0.0100	get 0.0013% / 1h	17m 13s	$880K	$18K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Nado. 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 NadobpFee BulkbpOrdersPrice spread, now −0.216%Rate

Funding earned: $0
Price spread: −0.216% → −0.064%: −$15.23
Slippage, 4 orders: −$1.98
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$31.21
Costs to cover: 0.160%
Break-even: 3206895344534467.5 days

Slippage from Nado: live order book, 2 min ago; Bulk: live order book, 42 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 Nado live order book, 2 min ago	0.03 bp	4.0 bp −$4	12.8 bp −$128	doesn't fit	doesn't fit
Sell Bulk live order book, 42 min ago	0.03 bp	3.5 bp −$4	3.5 bp −$35	9.1 bp −$905	18.3 bp −$9,159

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	−0.3166%	1h	1,460.7	+0.024%	$34K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,459.6	−0.052%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0069%	8h	1,460.3	−0.009%	$29.5M	$71.1M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,459.7	−0.043%	$411K	$38K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,460.6	+0.012%	$1.5M	$4.5M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,459.6	−0.056%	$83K	$240K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,460.2	−0.013%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0063%	8h	1,460.1	−0.016%	$292K	$952K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0069% / S −0.0020%	1h	1,460.2	−0.015%	$410K	—	100x	as long as short
01 Exchange ZECUSD	+0.0080%	1h	1,460.2	−0.013%	$8K	$7K	5x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex ZECUSDT	+0.0096%	1h	1,459.8	−0.037%	$173K	$1.7M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,460.2	−0.013%	$11K	$857K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,460	−0.024%	$60K	$43K	10x	as long as short
Nado ZEC-PERPlong	+0.0100%	1h	1,460.4	long leg	$2.8M	$6.7M	10x
Hyperliquid ZEC	+0.0100%	1h	1,461.6	+0.082%	$759.8M	$431.8M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,460.4	−0.001%	$14.5M	$28.0M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,460.3	−0.006%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,460.3	−0.004%	$671.2M	$2.21B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,459.7	−0.044%	$262.1M	$602.3M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,460.2	−0.014%	$178.2M	$1.23B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,458.4	−0.135%	$397K	$442K	5x	as long as short
Bulk ZEC-USDshort	+0.0100%	1h	1,457.2	−0.216%	$880K	$18K	10x
Gate ZEC_USDT	+0.0100%	8h	1,460.1	−0.021%	$50.6M	$174.9M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,460.3	−0.004%	$215.1M	$773.9M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,460.5	+0.007%	$103.0M	$54.0M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,460.5	+0.006%	$166.1M	$271.1M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,459.9	−0.030%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,460.3	−0.005%	$47.9M	$32.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,461.7	+0.092%	$569K	$8.6M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,460.6	+0.013%	$3.0M	$437K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,461.9	+0.107%	$405K	$939K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,459	−0.097%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,459.8	−0.039%	$365K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,460	−0.023%	$160K	$185K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,459.2	−0.078%	$445K	$521K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,462.5	+0.146%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,460.3	−0.004%	$234K	$3.4M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,457.9	−0.172%	$2.7M	$18.4M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,460	−0.029%	$3.8M	$5.1M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,460.2	−0.011%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,460.1	−0.020%	$47K	$151K	20x	as long as short
Backpack ZEC_USDC_PERP	+0.0122%	1h	1,461.2	+0.054%	$2.4M	$3.8M	15x	as long as short
Phoenix ZEC	+0.0123%	1h	1,460.1	−0.020%	$4.6M	$1.3M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0156%	1h	1,461	+0.042%	$617K	$1.3M	25x	as long as short
Lighter ZEC	+0.0264%	1h	1,461.6	+0.082%	$19.2M	$46.0M	20x	as long as short
Kraken Futures PF_ZECUSD	+0.0276%	1h	1,460.1	−0.020%	$18.1M	$45.0M	25x	as long as short
Lighter RH ZEC	+0.0384%	1h	1,461.7	+0.093%	$2.1M	$7.0M	10x	as long as short
RISEx ZEC/USDC	+0.0412%	1h	1,460	−0.024%	$924K	$1.1M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0448%	1h	1,462	+0.111%	$3.8M	$9.1M	50x	as long as short
Arcus ZEC-USD	+0.0626%	1h	1,460.9	+0.038%	$683K	$8.3M	10x	as long as short
Aftermath Perps ZECUSD	+0.0682%	1h	1,461	+0.041%	$45K	$49K	10x	as long as short