Funding arb · Price arb /

ZEC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0206%/8h= +22.5% APRpaid last 24h +0.055%

Price spread now: Arcus against Variational Omni+0.069%7-day average +0.076% · you sell dearer than you buy

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

Long on Variational Omni Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.069%+$7 on $10k

Price spread, last 7 days+0.035%+$3 · spread now +0.069%, 7d avg +0.076%

Together, before fees+0.104%+ Points / potential airdropVariational Omni: Active · farm board+$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.076%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.069% in total (about 7.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ZEC	1,474.4	0.0048	pay 0.0048% / 8h	6h 22m	$48.1M	$32.8M	—
Short	Arcus ZEC-USD	1,475.4	0.0254	get 0.0032% / 1h	22m 06s	$690K	$8.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus 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 ArcusbpOrdersPrice spread, now +0.069%Rate

Funding earned: $43.24
Price spread: +0.069% → +0.076%: −$0.71
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: $38.03
Costs to cover: 0.045%
Break-even: 0.8 days

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Arcus: live order book, 2 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, 2 min ago	2.75 bp	doesn't fit	6.1 bp −$61	18.2 bp −$1,816	doesn't fit
Sell Arcus live order book, 2 min ago	0.45 bp	5.9 bp −$6	20.8 bp −$208	doesn't fit	doesn't fit

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	−0.3678%	1h	1,459.3	−1.026%	$34K	$274K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,472.6	−0.122%	$6K	$1K	10x	as long as short
Ondo Perps ZEC-USD.P	−0.0016%	1h	1,471.4	−0.205%	$400K	$517K	5x	as long as short
Kraken Futures PF_ZECUSD	−0.0002%	1h	1,474.4	−0.001%	$18.1M	$43.8M	25x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,472.9	−0.100%	$415K	$54K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,475.6	+0.077%	$976K	$4.9M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,474.1	−0.024%	$84K	$254K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,474.6	+0.011%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0028%	8h	1,474.1	−0.021%	$294K	$1.0M	20x	as long as short
Variational Omni ZEClong	+0.0048%	8h	1,474.4	long leg	$48.1M	$32.8M	—

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	1,474.4	0.000%	$385K	—	100x	as long as short
Phoenix ZEC	+0.0070%	1h	1,476.1	+0.115%	$4.7M	$1.5M	10x	as long as short
01 Exchange ZECUSD	+0.0072%	1h	1,474.6	+0.013%	$8K	$9K	5x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,474.4	−0.004%	$173K	$1.8M	50x	as long as short
OKX ZEC-USDT-SWAP	+0.0097%	8h	1,473.8	−0.044%	$181.6M	$1.27B	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,473.8	−0.045%	$14K	$842K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,474.4	+0.001%	$61K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,473.5	−0.060%	$2.6M	$6.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,474.9	+0.032%	$767.8M	$442.7M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,473.9	−0.037%	$14.9M	$30.4M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,474.5	+0.009%	$1.7M	$2.7M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,474	−0.027%	$681.9M	$2.32B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,473.8	−0.046%	$272.0M	$616.9M	75x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,476.6	+0.146%	$896K	$18K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,474	−0.031%	$50.3M	$176.0M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,474	−0.028%	$217.0M	$800.5M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,474.6	+0.014%	$103.6M	$56.4M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,474	−0.029%	$163.8M	$283.2M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,474.1	−0.020%	—	$100.5M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,475.3	+0.061%	$575K	$9.0M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,473.8	−0.046%	$3.0M	$443K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,474.6	+0.009%	$429K	$898K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,473.1	−0.087%	$71K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,474.4	−0.001%	$346K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,474.7	+0.017%	$128K	$160K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,472.8	−0.107%	$458K	$511K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,476.8	+0.164%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,474.1	−0.024%	$243K	$3.6M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,474.4	−0.005%	$2.5M	$18.7M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,474.2	−0.012%	$3.9M	$5.4M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,473.9	−0.036%	$3.2M	$7.1M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,474.1	−0.019%	$48K	$162K	20x	as long as short
Arcus ZEC-USDshort	+0.0254%	1h	1,475.4	+0.069%	$690K	$8.6M	10x
Lighter ZEC	+0.0264%	1h	1,475.5	+0.075%	$19.3M	$48.2M	20x	as long as short
Lighter RH ZEC	+0.0288%	1h	1,475.8	+0.096%	$2.1M	$7.1M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0295%	1h	1,475	+0.042%	$614K	$1.3M	25x	as long as short
RISEx ZEC/USDC	+0.0374%	1h	1,474.9	+0.030%	$866K	$1.0M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0472%	1h	1,476.3	+0.127%	$3.6M	$9.4M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0483%	1h	1,474.5	+0.004%	$2.5M	$3.9M	15x	as long as short
Aftermath Perps ZECUSD	+0.0739%	1h	1,475.1	+0.043%	$44K	$46K	10x	as long as short