Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.005%

Price spread now: Bullet against Nado+0.211%55s7-day average −0.040% · 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−$210.214% of the position

Long on Nado Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.010%−$1 on $10k

Price spread, last 4 days (all we have)−0.224%−$22 · spread now +0.211%, 7d avg −0.040%

Together, before fees−0.234%+ Points / potential airdropNado: Active · farm board−$23 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: Bullet is 0.251% dearer against Nado than usual: you sell high and buy low, +$25 on $10k if it goes back to its 7-day average of −0.040%. The two prices were read 55 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	Nado ZEC-PERP	1,493.4	0.0100	pay 0.0012% / 1h	35m 28s	$3.1M	$7.6M	10x
Short	Bullet ZEC-USD	1,496.5	0.0100	get 0.0013% / 1h	35m 28s	$164K	$184K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet 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 BulletbpOrdersPrice spread, now +0.211%Rate

Funding earned: $0
Price spread: +0.211% → −0.040%: $25.08
Slippage, 4 orders: −$6.43
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Bullet: 4 bp × 2 orders: −$8
Net: $3.65
Costs to cover: 0.214%
Break-even: from the start

Slippage from Nado: live order book, 4 min ago; Bullet: live order book, 3 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, 4 min ago	0.03 bp	4.6 bp −$5	10.2 bp −$102	46.1 bp −$4,606	doesn't fit
Sell Bullet live order book, 3 min ago	0.40 bp	5.7 bp −$6	10.6 bp −$106	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	−0.3442%	1h	1,504.2	+0.723%	$37K	$275K	12x	as long as short
Perpl ZEC	−0.0447%	43m	1,492	−0.092%	$61K	$304K	10x	as long as short
BloFin ZEC-USDT	−0.0153%	8h	1,495.9	+0.167%	$30.8M	$75.6M	75x	as long as short
Aftermath Perps ZECUSD	−0.0081%	1h	1,500	+0.442%	$48K	$59K	10x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,495.4	+0.136%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,496	+0.175%	$416K	$35K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,497.4	+0.272%	$1.5M	$4.4M	2.2x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,496.6	+0.216%	$5.3M	—	150x	as long as short
Kraken Futures PF_ZECUSD	+0.0012%	1h	1,497.2	+0.254%	$18.0M	$47.2M	25x	as long as short
Bulk ZEC-USD	+0.0021%	1h	1,505.9	+0.838%	$910K	$2K	10x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ZEC-USD.P	+0.0023%	1h	1,494	+0.041%	$408K	$560K	5x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0066%	1h	1,497.4	+0.268%	$684K	$1.4M	25x	as long as short
Orderly PERP_ZEC_USDC	+0.0083%	8h	1,496.6	+0.213%	$301K	$1.1M	20x	as long as short
Phoenix ZEC	+0.0096%	1h	1,498.3	+0.329%	$4.8M	$1.4M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,494.5	+0.075%	$175K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0098%	8h	1,495.1	+0.113%	$16K	$878K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,495.3	+0.127%	$62K	$28K	10x	as long as short
Nado ZEC-PERPlong	+0.0100%	1h	1,493.4	long leg	$3.1M	$7.6M	10x
Hyperliquid ZEC	+0.0100%	1h	1,495.6	+0.149%	$781.3M	$444.5M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,494.2	+0.056%	$14.0M	$31.1M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,495.9	+0.168%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,494.7	+0.086%	$699.6M	$2.31B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,494.1	+0.047%	$268.5M	$623.4M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,492.2	−0.076%	$183.7M	$1.34B	50x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,495.2	+0.123%	$56.0M	$183.9M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,495.4	+0.134%	$237.0M	$796.6M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,495.8	+0.161%	$102.9M	$57.2M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,492.7	−0.048%	$161.2M	$290.1M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,495.3	+0.129%	—	$118.3M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,495.9	+0.166%	$48.8M	$34.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,496.6	+0.215%	$573K	$9.0M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,503.3	+0.665%	$3.1M	$507K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,495.2	+0.122%	$412K	$947K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,496	+0.172%	$56K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,494.2	+0.055%	$357K	$1.7M	10x	as long as short
Bullet ZEC-USDshort	+0.0100%	1h	1,496.5	+0.211%	$164K	$184K	20x
Derive ZEC-PERP	+0.0100%	1h	1,495.4	+0.133%	$457K	$489K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,499	+0.377%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,496.5	+0.210%	$253K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,495.6	+0.145%	$2.7M	$20.7M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,496.6	+0.214%	$4.0M	$4.9M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,495.4	+0.138%	$2.8M	$7.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,496.7	+0.225%	$43K	$151K	20x	as long as short
01 Exchange ZECUSD	+0.0112%	1h	1,495	+0.110%	$8K	$6K	5x	as long as short
Lighter RH ZEC	+0.0120%	1h	1,497.1	+0.248%	$2.1M	$7.4M	10x	as long as short
RISEx ZEC/USDC	+0.0128%	1h	1,495.1	+0.113%	$941K	$1.1M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0146% / S −0.0154%	1h	1,496.5	+0.211%	$360K	—	100x	as long as short
Lighter ZEC	+0.0200%	1h	1,497.2	+0.254%	$19.8M	$45.5M	20x	as long as short
Arcus ZEC-USD	+0.0403%	1h	1,496	+0.172%	$612K	$8.8M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0416%	1h	1,497.9	+0.304%	$3.7M	$10.1M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0552%	1h	1,496.8	+0.230%	$2.3M	$3.9M	15x	as long as short