Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.019%

Price spread now: Bulk against Polymarket Perps−0.064%52s7-day average −0.025% · 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—prices read too far apart to compare

costs, in and out, $10k−$190.190% of the position

Long on Polymarket Perps Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.034%−$3 on $10k

Price spread, last 4 days (all we have)+0.290%+$29 · spread now −0.064%, 7d avg −0.025%

Together, before fees+0.256%+$26 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 0.039% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.025%. The two prices were read 52 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	Polymarket Perps ZEC-USD	1,495.2	0.0100	pay 0.0013% / 1h	4m 41s	$358K	$1.8M	10x
Short	Bulk ZEC-USD	1,494.2	0.0100	get 0.0013% / 1h	4m 41s	$903K	$7K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Polymarket Perps. 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 Polymarket PerpsbpFee BulkbpOrdersPrice spread, now −0.064%Rate

Funding earned: $0
Price spread: −0.064% → −0.025%: −$3.92
Slippage, 4 orders: −$4.03
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$22.96
Costs to cover: 0.190%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 4 min ago; Bulk: live order book, 39 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 Polymarket Perps live order book, 4 min ago	1.34 bp	6.6 bp −$7	9.0 bp −$90	25.9 bp −$2,586	doesn't fit
Sell Bulk live order book, 39 min ago	0.03 bp	3.5 bp −$4	3.6 bp −$36	6.4 bp −$636	11.2 bp −$5,606

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	−0.3684%	1h	1,479.6	−1.044%	$36K	$275K	12x	as long as short
Perpl ZEC	−0.0447%	43m	1,493.8	−0.096%	$61K	$304K	10x	as long as short
BloFin ZEC-USDT	−0.0143%	8h	1,494.8	−0.026%	$30.9M	$75.1M	75x	as long as short
Kraken Futures PF_ZECUSD	−0.0096%	1h	1,494.5	−0.044%	$18.1M	$46.5M	25x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,496	+0.050%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,495.5	+0.021%	$416K	$35K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,495.8	+0.041%	$1.5M	$4.7M	2.2x	as long as short
Deribit ZEC_USDC-PERPETUAL	0.0000%	1h	1,494.6	−0.043%	$682K	$1.4M	25x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,494	−0.083%	$5.3M	—	150x	as long as short
Aftermath Perps ZECUSD	+0.0015%	1h	1,495.2	+0.003%	$48K	$64K	10x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_ZEC_USDC	+0.0080%	8h	1,493.8	−0.091%	$301K	$1.1M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,494.5	−0.047%	$171K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0097%	8h	1,494.5	−0.046%	$12K	$876K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,494.8	−0.030%	$62K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,495.8	+0.038%	$3.1M	$7.6M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,495.4	+0.012%	$14.0M	$31.1M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,496.3	+0.071%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,496.1	+0.061%	$697.3M	$2.31B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,494.9	−0.023%	$267.8M	$630.8M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,494.3	−0.060%	$182.7M	$1.34B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,494.1	−0.074%	$408K	$554K	5x	as long as short
Bulk ZEC-USDshort	+0.0100%	1h	1,494.2	−0.064%	$903K	$7K	10x
Gate ZEC_USDT	+0.0100%	8h	1,494.7	−0.034%	$55.2M	$187.3M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,495	−0.015%	$242.9M	$799.8M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,494.5	−0.045%	$103.1M	$57.3M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,494.3	−0.062%	$160.7M	$289.8M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,493.5	−0.111%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,495.2	−0.002%	$48.9M	$34.8M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,495.1	−0.005%	$573K	$9.0M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,494.7	−0.031%	$3.1M	$510K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,496.3	+0.076%	$412K	$942K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,496.1	+0.060%	$56K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USDlong	+0.0100%	1h	1,495.2	long leg	$358K	$1.8M	10x
Bullet ZEC-USD	+0.0100%	1h	1,493.9	−0.084%	$164K	$184K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,495.2	−0.002%	$456K	$500K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,495.7	+0.035%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,494.2	−0.067%	$254K	$3.6M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,494.5	−0.044%	$2.7M	$20.3M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,494.5	−0.045%	$4.0M	$5.0M	50x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,497	+0.120%	$781.4M	$446.5M	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,494.3	−0.060%	$2.8M	$7.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,493.8	−0.092%	$43K	$151K	20x	as long as short
01 Exchange ZECUSD	+0.0120%	1h	1,494.9	−0.021%	$8K	$7K	5x	as long as short
RISEx ZEC/USDC	+0.0129%	1h	1,494.7	−0.033%	$939K	$1.1M	10x	as long as short
Phoenix ZEC	+0.0134%	1h	1,496.6	+0.093%	$4.8M	$1.4M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0137% / S −0.0133%	1h	1,493.7	−0.103%	$396K	—	100x	as long as short
Lighter RH ZEC	+0.0192%	1h	1,497.6	+0.160%	$2.1M	$7.5M	10x	as long as short
Arcus ZEC-USD	+0.0221%	1h	1,495.3	+0.009%	$611K	$8.7M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0259%	1h	1,495.5	+0.023%	$2.3M	$3.9M	15x	as long as short
Lighter ZEC	+0.0264%	1h	1,497.8	+0.173%	$19.7M	$47.1M	20x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0480%	1h	1,495.4	+0.012%	$3.7M	$10.1M	50x	as long as short