Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0054%/8h= +5.9% APRpaid last 24h +0.016%

Price spread now: RISEx against SunX−0.236%7-day average −0.072% · 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−$145as in the Price arb table

costs, in and out, $10k−$1291.288% of the position

Long on SunX Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.192%+$19 on $10k

Price spread, last 4 days (all we have)+0.238%+$24 · spread now −0.236%, 7d avg −0.072%

Together, before fees+0.430%+$43 on $10k · with fees, hour by hour

Funding pays, the price is against you. RISEx is 0.163% cheaper against SunX than usual: you would sell low and buy high (spread −0.236% now, against its 7-day average of −0.072%). If the spread goes back, that is −$16 on $10k: about 10 days of funding at the current rate (+$2 a day). At the pace of the last 4 days (+0.192% in total) that is about 3.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ZEC-USDT	1,498.3	0.0100	pay 0.0100% / 8h	2h 04m	$3K	$1.2M	20x
Short	RISEx ZEC/USDC	1,494.8	0.0154	get 0.0019% / 1h	4m 23s	$933K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against SunX. 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 SunXbpFee RISExbpOrdersPrice spread, now −0.236%Rate

Funding earned: $11.41
Price spread: −0.236% → −0.072%: −$16.34
Slippage, 4 orders: −$114.84
Fee SunX: 4 bp × 2 orders: −$8
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$133.78
Costs to cover: 1.288%
Break-even: 89.1 days

Slippage from SunX: live order book, 9 min ago; RISEx: live order book, 4 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 SunX live order book, 9 min ago	29.22 bp	50.7 bp −$51	doesn't fit	doesn't fit	doesn't fit
Sell RISEx live order book, 4 min ago	2.34 bp	5.3 bp −$5	16.3 bp −$163	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	−0.3243%	1h	1,479.2	−1.279%	$34K	$273K	12x	as long as short
Bulk ZEC-USD	−0.0279%	1h	1,512.6	+0.954%	$914K	$15K	10x	as long as short
BloFin ZEC-USDT	−0.0119%	8h	1,495.2	−0.206%	$30.5M	$73.9M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,495.5	−0.187%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,495.1	−0.216%	$415K	$35K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,496.1	−0.145%	$1.7M	$4.6M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,495.3	−0.205%	$85K	$239K	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	0.0000%	1h	1,495.6	−0.183%	$711K	$1.4M	25x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,495	−0.219%	$5.3M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0070%	8h	1,494.6	−0.247%	$293K	$1.1M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange ZECUSD	+0.0088%	1h	1,494.9	−0.227%	$8K	$7K	5x	as long as short
Phoenix ZEC	+0.0092%	1h	1,500.8	+0.166%	$4.8M	$1.3M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,494.8	−0.234%	$152K	$1.7M	50x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,495	−0.222%	$2.8M	$6.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,496.7	−0.108%	$780.7M	$438.0M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,495.2	−0.206%	$14.2M	$29.5M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,495.2	−0.206%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,495	−0.224%	$694.4M	$2.27B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,494.6	−0.252%	$274.2M	$620.4M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,494.6	−0.250%	$181.2M	$1.31B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,495.9	−0.162%	$407K	$481K	5x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,495.3	−0.205%	$54.1M	$182.3M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,495.5	−0.189%	$225.5M	$783.9M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,495.1	−0.212%	$103.1M	$56.1M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,495.4	−0.194%	$161.2M	$285.0M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,494.2	−0.273%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,498.3	+0.002%	$49.0M	$33.3M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,496.9	−0.098%	$573K	$8.8M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,498.9	+0.039%	$3.1M	$477K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,499.7	+0.092%	$415K	$930K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,496.5	−0.123%	$57K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,495.1	−0.215%	$362K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,495.2	−0.209%	$165K	$184K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,494.2	−0.273%	$456K	$506K	6.7x	as long as short
SunX ZEC-USDTlong	+0.0100%	8h	1,498.3	long leg	$3K	$1.2M	20x
SoDEX ZEC-USD	+0.0100%	1h	1,495.4	−0.194%	$255K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,495	−0.221%	$2.6M	$19.6M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,495.3	−0.199%	$4.0M	$5.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,495.6	−0.181%	$62K	$43K	10x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,494.6	−0.247%	$12K	$858K	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,495.5	−0.191%	$2.8M	$7.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,495.1	−0.212%	$45K	$149K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0109% / S −0.0085%	1h	1,494.8	−0.237%	$404K	—	100x	as long as short
Kraken Futures PF_ZECUSD	+0.0144%	1h	1,495.4	−0.193%	$18.1M	$46.2M	25x	as long as short
RISEx ZEC/USDCshort	+0.0154%	1h	1,494.8	−0.236%	$933K	$1.2M	10x
Lighter ZEC	+0.0216%	1h	1,496.3	−0.138%	$19.6M	$45.9M	20x	as long as short
Lighter RH ZEC	+0.0216%	1h	1,496.3	−0.135%	$2.1M	$7.3M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0360%	1h	1,495.8	−0.166%	$2.3M	$3.8M	15x	as long as short
Aftermath Perps ZECUSD	+0.0399%	1h	1,498.8	+0.034%	$50K	$61K	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0496%	1h	1,497.8	−0.035%	$3.7M	$9.9M	50x	as long as short
Arcus ZEC-USD	+0.0508%	1h	1,496	−0.155%	$620K	$8.5M	10x	as long as short