Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0187%/8h= −20.4% APRpaid last 24h −0.045%

Price spread now: BloFin against Bulk+0.220%7-day average +0.032% · 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−$1as in the Price arb table

costs, in and out, $10k−$200.198% of the position

Long on Bulk Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.141%−$14 on $10k

Price spread, last 3 days (all we have)+0.209%+$21 · spread now +0.220%, 7d avg +0.032%

Together, before fees+0.068%+$7 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.188% dearer against Bulk than usual: you sell high and buy low (spread +0.220% now, against its 7-day average of +0.032%): +$19 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 3.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk ZEC-USD	1,456.7	0.0100	pay 0.0013% / 1h	6m 46s	$897K	$26K	10x
Short	BloFin ZEC-USDT	1,459.9	−0.0087	pay 0.0087% / 8h	2h 06m	$28.8M	$75.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.220%Rate

Funding earned: −$39.2
Price spread: +0.220% → +0.032%: $18.82
Slippage, 4 orders: −$0.82
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$40.19
Costs to cover: 0.198%
Break-even: never at this rate

Slippage from Bulk: live order book, 17 min ago; BloFin: live order book, 12 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, 17 min ago	0.31 bp	3.8 bp −$4	3.8 bp −$38	6.0 bp −$603	12.1 bp −$6,061
Sell BloFin live order book, 12 min ago	0.07 bp	6.1 bp −$6	8.6 bp −$86	14.2 bp −$1,418	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	1,433.1	−1.617%	$33K	$275K	12x	as long as short
BloFin ZEC-USDTshort	−0.0087%	8h	1,459.9	+0.220%	$28.8M	$75.5M	75x
Hotstuff ZEC-PERP	−0.0080%	1h	1,460.3	+0.244%	$6K	$2K	10x	as long as short
Kraken Futures PF_ZECUSD	−0.0071%	1h	1,459.8	+0.210%	$17.7M	$44.7M	25x	as long as short
Bybit ZECUSDT	−0.0028%	8h	1,459.1	+0.165%	$269.4M	$677.4M	75x	as long as short
Variational Omni ZEC	−0.0004%	8h	1,455.9	−0.053%	$45.6M	$33.4M	—	as long as short
dYdX ZEC-USD	0.0000%	1h	1,460.9	+0.286%	$411K	$106K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,460.8	+0.283%	$934K	$5.7M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,459.8	+0.214%	$83K	$401K	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	0.0000%	1h	1,460.8	+0.279%	$594K	$1.3M	25x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,460.7	+0.273%	$5.2M	—	150x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0015% / S +0.0074%	1h	1,460.3	+0.249%	$558K	—	100x	as long as short
Orderly PERP_ZEC_USDC	+0.0016%	8h	1,459.8	+0.216%	$293K	$1.5M	20x	as long as short
Ondo Perps ZEC-USD.P	+0.0033%	1h	1,457	+0.021%	$395K	$515K	5x	as long as short
01 Exchange ZECUSD	+0.0040%	1h	1,460.3	+0.250%	$8K	$8K	5x	as long as short
OKX ZEC-USDT-SWAP	+0.0057%	8h	1,460.1	+0.230%	$174.4M	$1.36B	50x	as long as short
Gate ZEC_USDT	+0.0060%	8h	1,460	+0.223%	$49.4M	$191.2M	75x	as long as short
Katana Perps ZEC-USD	+0.0095%	8h	1,460.1	+0.232%	$15K	$865K	10x	as long as short
Lighter ZEC	+0.0096%	1h	1,461.5	+0.327%	$18.9M	$54.7M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,460	+0.223%	$173K	$2.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,460.1	+0.230%	$60K	$39K	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,460.2	+0.239%	$15.4M	$33.9M	75x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,461.2	+0.309%	$2.5M	$7.1M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,460.7	+0.275%	$755.4M	$493.6M	10x	as long as short
Pacifica ZEC	+0.0100%	1h	1,460.8	+0.279%	$1.6M	$3.0M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,459.9	+0.216%	$667.7M	$2.53B	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,460.1	+0.231%	$219.3M	$900.0M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,460.3	+0.244%	$103.2M	$57.0M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,460.1	+0.231%	$161.6M	$312.1M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,459.9	+0.218%	—	$101.6M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,460.9	+0.289%	$2.3M	$4.1M	15x	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,458.9	+0.149%	$508K	$9.5M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,459.2	+0.173%	$3.0M	$492K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,458.7	+0.137%	$429K	$815K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,460.5	+0.262%	$109K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,460	+0.227%	$344K	$2.0M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,459.9	+0.218%	$127K	$161K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,458.7	+0.139%	$446K	$498K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,462.1	+0.369%	$3K	$1.3M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,459.9	+0.221%	$221K	$4.7M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,460.6	+0.269%	$2.4M	$24.9M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,459.9	+0.218%	$3.8M	$5.4M	50x	as long as short
Bulk ZEC-USDlong	+0.0100%	1h	1,456.7	long leg	$897K	$26K	10x
Phoenix ZEC	+0.0103%	1h	1,460.7	+0.277%	$4.6M	$1.6M	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,460.8	+0.280%	$3.3M	$7.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,460	+0.228%	$36K	$362K	20x	as long as short
RISEx ZEC/USDC	+0.0219%	1h	1,460.8	+0.280%	$848K	$1.8M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0440%	1h	1,462.1	+0.367%	$3.7M	$11.6M	50x	as long as short
Aftermath Perps ZECUSD	+0.0483%	1h	1,459.4	+0.188%	$40K	$34K	10x	as long as short
Arcus ZEC-USD	+0.0518%	1h	1,461.2	+0.311%	$743K	$8.0M	10x	as long as short
Lighter RH ZEC	+0.0576%	1h	1,462	+0.360%	$2.0M	$8.5M	10x	as long as short