Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.056%

Price spread now: Variational Omni against ApeX Omni+0.066%103s7-day average +0.094% · you sell dearer than you buy

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

Long on ApeX Omni Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.447%+$45 on $10k

Price spread, last 7 days−0.105%−$11 · spread now +0.066%, 7d avg +0.094%

Together, before fees+0.342%+ Points / potential airdropVariational Omni: Active · farm board+$34 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: Variational Omni is 0.029% cheaper against ApeX Omni than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.094%. The two prices were read 103 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	ApeX Omni ZECUSDT	1,491.9	0.0100	pay 0.0013% / 1h	21m 46s	$411K	$945K	50x
Short	Variational Omni ZEC	1,492.9	0.0100	get 0.0100% / 8h	21m 46s	$48.8M	$34.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against ApeX Omni. 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 ApeX OmnibpFee Variational OmnibpOrdersPrice spread, now +0.066%Rate

Funding earned: $0
Price spread: +0.066% → +0.094%: −$2.87
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$12.87
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: ApeX Omni: live order book, 17 min ago; Variational Omni: RFQ quote, 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 ApeX Omni live order book, 17 min ago	4.29 bp	9.3 bp −$9	32.2 bp −$322	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 2 min ago	2.78 bp	doesn't fit	8.1 bp −$81	17.6 bp −$1,759	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	−0.3442%	1h	1,478.8	−0.877%	$36K	$275K	12x	as long as short
Perpl ZEC	−0.0447%	43m	1,493	+0.071%	$61K	$303K	10x	as long as short
BloFin ZEC-USDT	−0.0144%	8h	1,494.6	+0.182%	$31.1M	$75.5M	75x	as long as short
Aftermath Perps ZECUSD	−0.0105%	1h	1,494.3	+0.164%	$48K	$58K	10x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,494.6	+0.179%	$6K	$1K	10x	as long as short
Bulk ZEC-USD	−0.0053%	1h	1,491.1	−0.051%	$858K	$48K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,494.9	+0.204%	$415K	$34K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,495.1	+0.212%	$1.5M	$4.4M	2.2x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,494.2	+0.156%	$5.3M	—	150x	as long as short
Kraken Futures PF_ZECUSD	+0.0012%	1h	1,494.9	+0.203%	$17.9M	$47.0M	25x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ZEC-USD.P	+0.0038%	1h	1,493.6	+0.114%	$408K	$554K	5x	as long as short
Orderly PERP_ZEC_USDC	+0.0084%	8h	1,494.7	+0.184%	$301K	$864K	20x	as long as short
01 Exchange ZECUSD	+0.0088%	1h	1,493.6	+0.117%	$8K	$6K	5x	as long as short
Phoenix ZEC	+0.0096%	1h	1,494.2	+0.155%	$4.8M	$1.4M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,493.2	+0.084%	$182K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0098%	8h	1,493.3	+0.092%	$17K	$881K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,493.5	+0.107%	$62K	$20K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,494	+0.140%	$3.1M	$7.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,495.7	+0.255%	$781.4M	$438.9M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,493.8	+0.125%	$14.0M	$30.8M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,494.7	+0.188%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,494.3	+0.162%	$700.0M	$2.30B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,494.5	+0.173%	$267.8M	$616.1M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,494.7	+0.189%	$183.8M	$1.33B	50x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,494	+0.141%	$56.5M	$185.2M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,494.6	+0.183%	$238.2M	$802.3M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,494.2	+0.157%	$102.7M	$56.3M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,494.5	+0.176%	$161.4M	$288.7M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,494.2	+0.153%	—	$116.9M	—	as long as short
Variational Omni ZECshort	+0.0100%	8h	1,492.9	+0.066%	$48.8M	$34.6M	—
edgeX ZECUSDC	+0.0100%	4h	1,492.8	+0.061%	$572K	$9.0M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,492.1	+0.015%	$3.1M	$514K	10x	as long as short
ApeX Omni ZECUSDTlong	+0.0100%	1h	1,491.9	long leg	$411K	$945K	50x
StandX ZEC-USD	+0.0100%	1h	1,494.4	+0.166%	$56K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,493.1	+0.080%	$357K	$1.6M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,494.1	+0.150%	$164K	$184K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,493.5	+0.106%	$456K	$469K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,496.3	+0.296%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,494.8	+0.195%	$253K	$3.4M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,493.4	+0.097%	$2.7M	$20.7M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,494.8	+0.194%	$4.0M	$4.9M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,494.3	+0.163%	$2.8M	$7.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,494.5	+0.175%	$43K	$151K	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0109%	1h	1,495.3	+0.227%	$683K	$1.4M	25x	as long as short
Lighter RH ZEC	+0.0120%	1h	1,496.2	+0.287%	$2.1M	$7.4M	10x	as long as short
RISEx ZEC/USDC	+0.0128%	1h	1,493.7	+0.122%	$940K	$1.1M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0144% / S −0.0141%	1h	1,494.5	+0.172%	$332K	—	100x	as long as short
Lighter ZEC	+0.0208%	1h	1,496.4	+0.299%	$19.8M	$45.6M	20x	as long as short
Arcus ZEC-USD	+0.0403%	1h	1,494.9	+0.200%	$617K	$8.7M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0416%	1h	1,496.6	+0.315%	$3.7M	$9.9M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0538%	1h	1,494.8	+0.192%	$2.3M	$3.8M	15x	as long as short