Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.082%

Price spread now: ApeX Omni against Bulk−0.087%55s7-day average −0.153% · 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−$310.310% of the position

Long on Bulk Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.479%−$48 on $10k

Price spread, last 4 days (all we have)+0.148%+$15 · spread now −0.087%, 7d avg −0.153%

Together, before fees−0.330%−$33 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: ApeX Omni is 0.066% dearer against Bulk than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.153%. The two prices were read 55 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	Bulk ZEC-USD	1,457.5	0.0100	pay 0.0013% / 1h	8m 24s	$883K	$21K	10x
Short	ApeX Omni ZECUSDT	1,456.2	0.0100	get 0.0013% / 1h	8m 24s	$410K	$911K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Bulk. 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 BulkbpFee ApeX OmnibpOrdersPrice spread, now −0.087%Rate

Funding earned: $0
Price spread: −0.087% → −0.153%: $6.62
Slippage, 4 orders: −$13.98
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$24.36
Costs to cover: 0.310%
Break-even: never at this rate

Slippage from Bulk: live order book, 56 min ago; ApeX Omni: live order book, 56 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 Bulk live order book, 56 min ago	0.03 bp	3.5 bp −$4	4.9 bp −$49	8.5 bp −$850	14.6 bp −$7,278
Sell ApeX Omni live order book, 56 min ago	4.56 bp	13.4 bp −$13	36.7 bp −$367	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	−0.3244%	1h	1,455.6	−0.130%	$34K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,453.9	−0.245%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0078%	8h	1,453	−0.303%	$29.3M	$70.6M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,452.5	−0.341%	$409K	$42K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,454	−0.237%	$1.5M	$4.5M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,452.3	−0.351%	$83K	$241K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,452.6	−0.336%	$5.1M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0053%	8h	1,452.2	−0.357%	$291K	$966K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0061% / S −0.0011%	1h	1,452.3	−0.354%	$408K	—	100x	as long as short
Phoenix ZEC	+0.0074%	1h	1,455	−0.169%	$4.6M	$1.4M	10x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex ZECUSDT	+0.0096%	1h	1,452.5	−0.338%	$173K	$1.7M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,452.6	−0.333%	$12K	$868K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,454.1	−0.231%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,453.6	−0.265%	$2.6M	$6.3M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,453.4	−0.278%	$755.2M	$433.6M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,452.3	−0.350%	$14.5M	$28.0M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,453.8	−0.252%	$1.6M	$2.5M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,452.7	−0.329%	$665.1M	$2.22B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,451.9	−0.380%	$262.2M	$606.2M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,452.6	−0.332%	$177.6M	$1.22B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,455.3	−0.148%	$396K	$432K	5x	as long as short
Bulk ZEC-USDlong	+0.0100%	1h	1,457.5	long leg	$883K	$21K	10x
Gate ZEC_USDT	+0.0100%	8h	1,452.5	−0.342%	$50.0M	$175.5M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,452.7	−0.325%	$213.5M	$781.2M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,453	−0.305%	$101.8M	$55.5M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,452.7	−0.325%	$161.4M	$273.4M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,452.1	−0.369%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,456.4	−0.073%	$47.6M	$32.8M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,457.1	−0.026%	$568K	$8.7M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,457.6	+0.008%	$3.0M	$432K	10x	as long as short
ApeX Omni ZECUSDTshort	+0.0100%	1h	1,456.2	−0.087%	$410K	$911K	50x
StandX ZEC-USD	+0.0100%	1h	1,458	+0.040%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,452.3	−0.353%	$367K	$1.9M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,452.5	−0.337%	$160K	$185K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,451.8	−0.385%	$443K	$521K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,455.3	−0.146%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,452.9	−0.313%	$232K	$3.4M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,452.6	−0.331%	$2.7M	$18.2M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,453.6	−0.268%	$3.8M	$5.1M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,452.7	−0.323%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,452.2	−0.362%	$47K	$153K	20x	as long as short
Backpack ZEC_USDC_PERP	+0.0106%	1h	1,453.9	−0.245%	$2.4M	$3.8M	15x	as long as short
01 Exchange ZECUSD	+0.0136%	1h	1,452.6	−0.332%	$8K	$7K	5x	as long as short
Kraken Futures PF_ZECUSD	+0.0196%	1h	1,452.6	−0.334%	$18.0M	$44.7M	25x	as long as short
Lighter ZEC	+0.0232%	1h	1,455.2	−0.156%	$19.1M	$46.8M	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0275%	1h	1,453.5	−0.271%	$611K	$1.3M	25x	as long as short
Arcus ZEC-USD	+0.0277%	1h	1,454.7	−0.189%	$719K	$8.5M	10x	as long as short
Lighter RH ZEC	+0.0360%	1h	1,455.4	−0.142%	$2.0M	$6.9M	10x	as long as short
RISEx ZEC/USDC	+0.0409%	1h	1,453.2	−0.294%	$831K	$1.0M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0456%	1h	1,454.2	−0.220%	$3.7M	$9.1M	50x	as long as short
Aftermath Perps ZECUSD	+0.0690%	1h	1,456.6	−0.059%	$45K	$49K	10x	as long as short