Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0068%/8h= +7.4% APRpaid last 24h +0.019%

Price spread now: Derive against Orderly−0.096%7-day average −0.079% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on Derive

What this pair did over the last

the charts below follow

Funding, last 7 days+0.342%+$34 on $10k

Price spread, last 3 days (all we have)+0.009%+$1 · spread now −0.096%, 7d avg −0.079%

Together, before fees+0.350%+$35 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.079%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_ZEC_USDC	1,467.2	0.0032	pay 0.0032% / 8h	5h 58m	$293K	$984K	20x
Short	Derive ZEC-PERP	1,465.8	0.0100	get 0.0013% / 1h	58m 18s	$447K	$512K	6.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive against Orderly. 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 OrderlybpFee DerivebpOrdersPrice spread, now −0.096%Rate

Funding earned: $14.18
Price spread: −0.096% → −0.079%: −$1.74
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Derive: 3 bp × 2 orders: −$6
Net: $0.44
Costs to cover: 0.120%
Break-even: 6.8 days

Slippage unknown: Orderly: no order-book sample; Derive: no order-book sample. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell Derive no order-book sample	—	—	—	—	—

Orderly and Derive: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

ZEC on 50 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	1,453.2	−0.956%	$33K	$272K	12x	as long as short
Ondo Perps ZEC-USD.P	−0.0378%	1h	1,466.9	−0.022%	$398K	$441K	5x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,470.3	+0.209%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,467.9	+0.049%	$413K	$48K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,468.7	+0.100%	$972K	$4.7M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,467.6	+0.025%	$84K	$249K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,467.3	+0.004%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDClong	+0.0032%	8h	1,467.2	long leg	$293K	$984K	20x
Deribit ZEC_USDC-PERPETUAL	+0.0033%	1h	1,467.9	+0.045%	$611K	$1.3M	25x	as long as short
01 Exchange ZECUSD	+0.0048%	1h	1,467.8	+0.040%	$8K	$8K	5x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX ZEC/USD [WBTC.b-USDC]	L +0.0055% / S −0.0009%	1h	1,467.2	+0.001%	$383K	—	100x	as long as short
Phoenix ZEC	+0.0070%	1h	1,469.6	+0.163%	$4.6M	$1.4M	10x	as long as short
Variational Omni ZEC	+0.0079%	8h	1,468.1	+0.060%	$48.0M	$32.4M	—	as long as short
OKX ZEC-USDT-SWAP	+0.0095%	8h	1,467.3	+0.007%	$180.8M	$1.24B	50x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,467.8	+0.039%	$173K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,467.4	+0.010%	$16K	$845K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,468	+0.050%	$61K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,468.2	+0.063%	$2.6M	$6.5M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,468.1	+0.059%	$764.8M	$435.0M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,467.4	+0.009%	$14.7M	$29.0M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,468	+0.051%	$1.7M	$2.6M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,467.3	+0.007%	$678.3M	$2.25B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,467.2	+0.001%	$271.7M	$604.9M	75x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,466.6	−0.044%	$890K	$18K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,467.1	−0.010%	$50.2M	$169.5M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,467.1	−0.007%	$215.9M	$767.7M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,466.6	−0.044%	$103.1M	$55.8M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,467.4	+0.010%	$163.0M	$275.5M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,467.5	+0.015%	—	$97.2M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,468	+0.055%	$571K	$8.9M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,468.3	+0.076%	$3.0M	$430K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,468.3	+0.075%	$427K	$880K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,469.9	+0.185%	$71K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,467.5	+0.018%	$343K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,467.3	+0.001%	$128K	$160K	20x	as long as short
Derive ZEC-PERPshort	+0.0100%	1h	1,465.8	−0.096%	$447K	$512K	6.7x
SunX ZEC-USDT	+0.0100%	8h	1,470.1	+0.198%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,467.5	+0.018%	$242K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,466.7	−0.034%	$2.5M	$18.2M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,467.9	+0.043%	$3.9M	$5.2M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,467.4	+0.008%	$2.8M	$7.6M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,467.1	−0.012%	$48K	$155K	20x	as long as short
Lighter ZEC	+0.0136%	1h	1,468.9	+0.111%	$19.2M	$45.8M	20x	as long as short
Kraken Futures PF_ZECUSD	+0.0194%	1h	1,467.5	+0.016%	$18.1M	$43.4M	25x	as long as short
Arcus ZEC-USD	+0.0277%	1h	1,469.8	+0.174%	$690K	$8.5M	10x	as long as short
Lighter RH ZEC	+0.0288%	1h	1,469.3	+0.143%	$2.1M	$6.8M	10x	as long as short
RISEx ZEC/USDC	+0.0409%	1h	1,468.3	+0.074%	$852K	$1.0M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0428%	1h	1,469.9	+0.183%	$2.4M	$3.9M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0456%	1h	1,468.6	+0.094%	$3.6M	$8.9M	50x	as long as short
Aftermath Perps ZECUSD	+0.0733%	1h	1,469	+0.122%	$43K	$46K	10x	as long as short