Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.018%

Price spread now: Derive against Bulk+2.106%7-day average −0.047% · you sell dearer than you buy

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

Long on Bulk Short on Derive

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)−1.081%−$108 · spread now +2.106%, 7d avg −0.047%

Together, before fees−1.043%−$104 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: Derive is 2.153% dearer against Bulk than usual: you sell high and buy low, +$215 on $10k if it goes back to its 7-day average of −0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk ZEC-USD	1,479.3	0.0100	pay 0.0013% / 1h	15m 10s	$894K	$15K	10x
Short	Derive ZEC-PERP	1,510.4	0.0100	get 0.0013% / 1h	15m 10s	$461K	$506K	6.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive 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 DerivebpOrdersPrice spread, now +2.106%Rate

Funding earned: $0
Price spread: +2.106% → −0.047%: $215.34
Slippage, 4 orders: no order book: not counted
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Derive: 3 bp × 2 orders: −$6
Net: $202.34
Costs to cover: 0.130%
Break-even: from the start

Slippage unknown: Bulk: live order book, 34 min ago; Derive: no order-book sample. 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 Bulk live order book, 34 min ago	0.34 bp	3.8 bp −$4	3.8 bp −$38	5.1 bp −$513	7.7 bp −$3,828
Sell Derive no order-book sample	—	—	—	—	—

Derive: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.3243%	1h	1,488.7	+0.634%	$34K	$273K	12x	as long as short
BloFin ZEC-USDT	−0.0140%	8h	1,511	+2.142%	$30.2M	$74.3M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,513.2	+2.290%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,512.6	+2.253%	$420K	$36K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,514.6	+2.390%	$1.7M	$4.6M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,511.8	+2.198%	$86K	$239K	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	0.0000%	1h	1,511.4	+2.174%	$717K	$1.4M	25x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0007%	1h	1,511	+2.142%	$5.4M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0065%	8h	1,511	+2.142%	$300K	$984K	20x	as long as short
01 Exchange ZECUSD	+0.0080%	1h	1,512.7	+2.257%	$8K	$7K	5x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix ZEC	+0.0092%	1h	1,507.5	+1.905%	$4.8M	$1.3M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,512.4	+2.239%	$147K	$1.7M	50x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,512.4	+2.242%	$2.9M	$6.5M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,513.4	+2.307%	$791.2M	$434.8M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,510.5	+2.107%	$14.7M	$29.1M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,513.4	+2.306%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,510.6	+2.118%	$700.8M	$2.24B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,511	+2.144%	$277.0M	$616.6M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,511	+2.144%	$181.5M	$1.30B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,520.5	+2.786%	$411K	$494K	5x	as long as short
Bulk ZEC-USDlong	+0.0100%	1h	1,479.3	long leg	$894K	$15K	10x
Gate ZEC_USDT	+0.0100%	8h	1,511.8	+2.195%	$54.4M	$178.8M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,512.4	+2.241%	$228.6M	$776.8M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,511.3	+2.167%	$104.0M	$55.0M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,511.1	+2.150%	$165.4M	$280.8M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,510.2	+2.092%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,519.3	+2.704%	$49.5M	$32.8M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,510.2	+2.089%	$577K	$8.7M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,505.9	+1.802%	$3.1M	$462K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,513	+2.280%	$419K	$928K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,512.2	+2.227%	$57K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,512.2	+2.225%	$370K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,511.5	+2.179%	$166K	$184K	20x	as long as short
Derive ZEC-PERPshort	+0.0100%	1h	1,510.4	+2.106%	$461K	$506K	6.7x
SunX ZEC-USDT	+0.0100%	8h	1,512.1	+2.218%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,510.1	+2.085%	$250K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,512.1	+2.216%	$2.6M	$19.4M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,510.6	+2.116%	$4.0M	$5.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,512.1	+2.220%	$62K	$43K	10x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,512.9	+2.275%	$14K	$847K	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0104% / S −0.0075%	1h	1,510.9	+2.137%	$406K	—	100x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,510.3	+2.100%	$2.8M	$8.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,511	+2.142%	$46K	$153K	20x	as long as short
Kraken Futures PF_ZECUSD	+0.0142%	1h	1,509.9	+2.070%	$18.4M	$46.0M	25x	as long as short
RISEx ZEC/USDC	+0.0154%	1h	1,512.3	+2.234%	$944K	$1.1M	10x	as long as short
Lighter RH ZEC	+0.0176%	1h	1,511.6	+2.185%	$2.1M	$7.3M	10x	as long as short
Lighter ZEC	+0.0224%	1h	1,511.5	+2.181%	$19.7M	$45.3M	20x	as long as short
Backpack ZEC_USDC_PERP	+0.0464%	1h	1,518.7	+2.663%	$2.4M	$3.8M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0496%	1h	1,512.4	+2.240%	$3.7M	$9.9M	50x	as long as short
Arcus ZEC-USD	+0.0508%	1h	1,512.3	+2.235%	$598K	$8.4M	10x	as long as short
Aftermath Perps ZECUSD	+0.0562%	1h	1,501.3	+1.489%	$51K	$60K	10x	as long as short