Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0563%/8h= +61.6% APRpaid last 24h +0.008%

Price spread now: Bitget against Bulk+0.084%48s7-day average +0.017% · you sell dearer than you buy

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−$220.217% of the position

Long on Bulk Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.038%−$4 on $10k

Price spread, last 4 days (all we have)−0.031%−$3 · spread now +0.084%, 7d avg +0.017%

Together, before fees−0.070%−$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$17 a day on $10k at the current rate, and Bitget is 0.066% dearer against Bulk than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.017%. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.038% in total (about -3.7% 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	Bulk ZEC-USD	1,515.3	−0.0463	get 0.0058% / 1h	57m 53s	$779K	$147K	10x
Short	Bitget ZECUSDT	1,516.5	0.0100	get 0.0100% / 8h	7h 57m	$163.8M	$294.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.084%Rate

Funding earned: $118.14
Price spread: +0.084% → +0.017%: $6.65
Slippage, 4 orders: −$2.73
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: $103.06
Costs to cover: 0.217%
Break-even: 0.9 days

Slippage from Bulk: live order book, 41 min ago; Bitget: live order book, 1 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, 41 min ago	0.03 bp	3.5 bp −$4	4.6 bp −$46	7.2 bp −$716	16.7 bp −$8,345
Sell Bitget live order book, 1 min ago	0.03 bp	7.0 bp −$7	10.7 bp −$107	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	−0.3702%	1h	1,496.3	−1.254%	$36K	$275K	12x	as long as short
Bulk ZEC-USDlong	−0.0463%	1h	1,515.3	long leg	$779K	$147K	10x
Perpl ZEC	−0.0447%	43m	1,516.3	+0.066%	$62K	$305K	10x	as long as short
Bybit ZECUSDT	−0.0179%	8h	1,516.2	+0.063%	$273.0M	$629.0M	75x	as long as short
BloFin ZEC-USDT	−0.0164%	8h	1,515.6	+0.023%	$31.5M	$77.1M	75x	as long as short
Aftermath Perps ZECUSD	−0.0107%	1h	1,513.1	−0.143%	$48K	$59K	10x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,517	+0.111%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,515.3	0.000%	$421K	$34K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,518.1	+0.187%	$1.6M	$5.0M	2.2x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,517.5	+0.145%	$5.4M	—	150x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_ZECUSD	+0.0019%	1h	1,519.2	+0.261%	$18.3M	$47.8M	25x	as long as short
01 Exchange ZECUSD	+0.0024%	1h	1,517.5	+0.147%	$8K	$6K	5x	as long as short
Gate ZEC_USDT	+0.0062%	8h	1,517.4	+0.142%	$60.1M	$182.2M	75x	as long as short
Orderly PERP_ZEC_USDC	+0.0084%	8h	1,518.3	+0.201%	$306K	$862K	20x	as long as short
Phoenix ZEC	+0.0096%	1h	1,514.3	−0.066%	$4.8M	$1.4M	10x	as long as short
Lighter RH ZEC	+0.0096%	1h	1,520.2	+0.323%	$2.1M	$7.4M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,517.8	+0.165%	$176K	$1.8M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,516.2	+0.062%	$62K	$19K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,517.5	+0.147%	$3.1M	$7.7M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,517.1	+0.121%	$793.8M	$448.2M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,517.3	+0.133%	$14.2M	$31.1M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,516.2	+0.061%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,517.8	+0.166%	$717.3M	$2.34B	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,516.8	+0.102%	$183.5M	$1.38B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,513.3	−0.130%	$413K	$554K	5x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,517.5	+0.149%	$597K	$8.9M	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,517.9	+0.172%	$320.5M	$811.6M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,518	+0.180%	$103.9M	$57.3M	75x	as long as short
Bitget ZECUSDTshort	+0.0100%	8h	1,516.5	+0.084%	$163.8M	$294.3M	75x
BingX ZEC-USDC	+0.0100%	8h	1,516.6	+0.086%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,513.8	−0.098%	$50.0M	$35.6M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,510.8	−0.293%	$578K	$9.1M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,514.6	−0.041%	$3.1M	$532K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,509.9	−0.352%	$416K	$948K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,515.4	+0.011%	$54K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,517.9	+0.174%	$377K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,519.1	+0.249%	$170K	$193K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,514.5	−0.053%	$452K	$408K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,519.9	+0.304%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,519.1	+0.254%	$257K	$3.6M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,516.1	+0.055%	$2.7M	$21.3M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,519.3	+0.263%	$4.1M	$4.9M	50x	as long as short
Lighter ZEC	+0.0104%	1h	1,519.4	+0.273%	$19.7M	$43.7M	20x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,517.5	+0.149%	$2.7M	$8.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,518.8	+0.232%	$44K	$151K	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0142%	1h	1,519.7	+0.294%	$694K	$1.4M	25x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0152% / S −0.0152%	1h	1,517.5	+0.145%	$337K	—	100x	as long as short
RISEx ZEC/USDC	+0.0157%	1h	1,517.7	+0.157%	$967K	$1.1M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0368%	1h	1,519.2	+0.259%	$3.7M	$9.8M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0551%	1h	1,519.2	+0.261%	$2.4M	$3.7M	15x	as long as short