Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0118%/8h= +13.0% APRpaid last 24h −0.113%

Price spread now: ApeX Omni against Variational Omni−0.004%73s7-day average −0.105% · you buy dearer than you sell

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

Long on Variational Omni Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.466%−$47 on $10k

Price spread, last 7 days−0.088%−$9 · spread now −0.004%, 7d avg −0.105%

Together, before fees−0.555%+ Points / potential airdropVariational Omni: Active · farm board−$55 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and ApeX Omni is 0.101% dearer against Variational Omni than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.105%. Mind the row above: over the last 3 days funding on this pair cost −0.466%, so the current rate has only just turned in your favour. The two prices were read 73 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	Variational Omni ZEC	1,461.1	−0.0018	get 0.0018% / 8h	2h 00m	$46.6M	$34.3M	—
Short	ApeX Omni ZECUSDT	1,461.1	0.0100	get 0.0013% / 1h	0m 17s	$429K	$816K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee ApeX OmnibpOrdersPrice spread, now −0.004%Rate

Funding earned: $24.88
Price spread: −0.004% → −0.105%: $10.14
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $25.02
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; ApeX Omni: live order book, 24 min ago. 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 Variational Omni RFQ quote, 4 min ago	2.77 bp	doesn't fit	5.1 bp −$51	16.2 bp −$1,620	doesn't fit
Sell ApeX Omni live order book, 24 min ago	2.89 bp	24.8 bp −$25	47.3 bp −$473	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	−0.3476%	1h	1,446.2	−1.026%	$33K	$275K	12x	as long as short
BloFin ZEC-USDT	−0.0087%	8h	1,462.2	+0.070%	$29.0M	$75.6M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,462.4	+0.087%	$6K	$2K	10x	as long as short
Kraken Futures PF_ZECUSD	−0.0071%	1h	1,462.6	+0.102%	$17.8M	$44.9M	25x	as long as short
Bybit ZECUSDT	−0.0040%	8h	1,461.9	+0.053%	$269.9M	$679.6M	75x	as long as short
Variational Omni ZEClong	−0.0018%	8h	1,461.1	long leg	$46.6M	$34.3M	—
Ondo Perps ZEC-USD.P	−0.0008%	1h	1,460.7	−0.030%	$396K	$516K	5x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,462.1	+0.063%	$412K	$106K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,463	+0.130%	$937K	$5.6M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,462.6	+0.102%	$83K	$401K	10x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit ZEC_USDC-PERPETUAL	0.0000%	1h	1,463.4	+0.154%	$595K	$1.3M	25x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,463	+0.128%	$5.2M	—	150x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0012% / S +0.0077%	1h	1,462.9	+0.120%	$559K	—	100x	as long as short
Orderly PERP_ZEC_USDC	+0.0014%	8h	1,462.6	+0.101%	$293K	$1.5M	20x	as long as short
01 Exchange ZECUSD	+0.0040%	1h	1,462.8	+0.113%	$8K	$8K	5x	as long as short
OKX ZEC-USDT-SWAP	+0.0055%	8h	1,462.7	+0.104%	$175.1M	$1.37B	50x	as long as short
Gate ZEC_USDT	+0.0058%	8h	1,462.5	+0.089%	$50.0M	$191.9M	75x	as long as short
Katana Perps ZEC-USD	+0.0095%	8h	1,462.5	+0.093%	$13K	$862K	10x	as long as short
Lighter ZEC	+0.0096%	1h	1,463.8	+0.183%	$18.9M	$54.8M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,462.5	+0.090%	$173K	$2.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,462.2	+0.071%	$60K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,463.1	+0.131%	$2.5M	$7.1M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,463.4	+0.154%	$758.8M	$495.3M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,462.4	+0.084%	$15.4M	$33.8M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,462.7	+0.108%	$1.6M	$3.0M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,462.6	+0.096%	$669.0M	$2.53B	75x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,460.8	−0.024%	$899K	$25K	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,462.6	+0.098%	$224.1M	$901.8M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,462.7	+0.104%	$103.3M	$57.1M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,462.7	+0.103%	$161.9M	$311.9M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,461.7	+0.039%	—	$6.8M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,463.1	+0.133%	$2.3M	$4.1M	15x	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,461.6	+0.030%	$509K	$9.5M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,461.7	+0.040%	$3.0M	$492K	10x	as long as short
ApeX Omni ZECUSDTshort	+0.0100%	1h	1,461.1	−0.004%	$429K	$816K	50x
StandX ZEC-USD	+0.0100%	1h	1,462.9	+0.117%	$110K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,462.4	+0.086%	$343K	$2.0M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,462.5	+0.090%	$128K	$160K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,461.2	+0.007%	$446K	$498K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,464.7	+0.241%	$3K	$1.3M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,462.6	+0.097%	$222K	$4.7M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,462.1	+0.065%	$2.4M	$24.6M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,462.6	+0.098%	$3.8M	$5.4M	50x	as long as short
Phoenix ZEC	+0.0103%	1h	1,461.8	+0.043%	$4.6M	$1.6M	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,463	+0.129%	$3.2M	$7.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,462.7	+0.110%	$36K	$362K	20x	as long as short
RISEx ZEC/USDC	+0.0219%	1h	1,462.9	+0.120%	$844K	$1.8M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0440%	1h	1,464.7	+0.243%	$3.7M	$11.7M	50x	as long as short
Aftermath Perps ZECUSD	+0.0504%	1h	1,462.1	+0.063%	$40K	$34K	10x	as long as short
Arcus ZEC-USD	+0.0518%	1h	1,462.5	+0.095%	$742K	$8.0M	10x	as long as short
Lighter RH ZEC	+0.0544%	1h	1,464.3	+0.219%	$2.0M	$8.5M	10x	as long as short