Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0202%/8h= +22.2% APRpaid last 24h +0.018%

Price spread now: SunX against Bulk+0.121%7-day average +0.133% · 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−$127as in the Price arb table

costs, in and out, $10k−$1261.259% of the position

Long on Bulk Short on SunX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.052%+$5 on $10k

Price spread, last 4 days (all we have)+0.754%+$75 · spread now +0.121%, 7d avg +0.133%

Together, before fees+0.805%+$81 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.133%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.052% in total (about 5.1% 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	1,494.5	−0.0102	get 0.0013% / 1h	56m 03s	$903K	$15K	10x
Short	SunX ZEC-USDT	1,496.3	0.0100	get 0.0100% / 8h	1h 56m	$3K	$1.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.121%Rate

Funding earned: $42.51
Price spread: +0.121% → +0.133%: −$1.21
Slippage, 4 orders: −$110.86
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$84.56
Costs to cover: 1.259%
Break-even: 20.9 days

Slippage from Bulk: live order book, 53 min ago; SunX: live order book, 7 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, 53 min ago	0.34 bp	3.8 bp −$4	3.8 bp −$38	5.1 bp −$513	7.7 bp −$3,828
Sell SunX live order book, 7 min ago	29.08 bp	68.8 bp −$69	doesn't fit	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	−0.3684%	1h	1,491.6	−0.198%	$34K	$273K	12x	as long as short
BloFin ZEC-USDT	−0.0117%	8h	1,493.5	−0.068%	$30.6M	$74.0M	75x	as long as short
Bulk ZEC-USDlong	−0.0102%	1h	1,494.5	long leg	$903K	$15K	10x
Kraken Futures PF_ZECUSD	−0.0096%	1h	1,493.8	−0.051%	$18.1M	$46.3M	25x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,490.4	−0.279%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,493.8	−0.050%	$415K	$35K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,494.2	−0.022%	$1.6M	$4.6M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,492.3	−0.151%	$61K	$288K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,493.9	−0.044%	$5.3M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0071%	8h	1,493.7	−0.056%	$300K	$1.1M	20x	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	1,493.6	−0.061%	$4.7M	$1.4M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,493.9	−0.044%	$157K	$1.7M	50x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,494.3	−0.016%	$2.8M	$6.6M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,494.5	−0.002%	$14.2M	$29.5M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,494	−0.036%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,494.9	+0.024%	$696.2M	$2.29B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,495.1	+0.037%	$270.5M	$627.2M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,495	+0.030%	$181.2M	$1.32B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,488.1	−0.430%	$405K	$478K	5x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,494.8	+0.018%	$54.5M	$178.2M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,495.2	+0.043%	$235.3M	$770.4M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,494.7	+0.013%	$102.7M	$56.3M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,495	+0.033%	$161.2M	$286.6M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,493.5	−0.066%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,494	−0.037%	$48.9M	$33.3M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,489.7	−0.322%	$569K	$8.8M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,495.8	+0.085%	$3.1M	$477K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,494.4	−0.011%	$414K	$931K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,490.6	−0.265%	$57K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,493.8	−0.049%	$361K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,493.9	−0.040%	$165K	$185K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,492.7	−0.122%	$456K	$500K	6.7x	as long as short
SunX ZEC-USDTshort	+0.0100%	8h	1,496.3	+0.121%	$3K	$1.2M	20x
SoDEX ZEC-USD	+0.0100%	1h	1,493.8	−0.052%	$254K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,492.6	−0.128%	$2.6M	$19.6M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,494.2	−0.022%	$4.0M	$5.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,494.2	−0.019%	$62K	$43K	10x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,493.4	−0.074%	$12K	$861K	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,495.2	+0.042%	$2.8M	$7.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,493.5	−0.067%	$45K	$149K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0105% / S −0.0079%	1h	1,493.6	−0.059%	$374K	—	100x	as long as short
01 Exchange ZECUSD	+0.0128%	1h	1,493.9	−0.042%	$8K	$7K	5x	as long as short
RISEx ZEC/USDC	+0.0129%	1h	1,494.2	−0.022%	$935K	$1.2M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0164%	1h	1,495.3	+0.054%	$2.3M	$3.9M	15x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0207%	1h	1,494.5	0.000%	$711K	$1.4M	25x	as long as short
Hyperliquid ZEC	+0.0213%	1h	1,496.1	+0.105%	$779.5M	$440.1M	10x	as long as short
Arcus ZEC-USD	+0.0221%	1h	1,495.3	+0.054%	$604K	$8.6M	10x	as long as short
Aftermath Perps ZECUSD	+0.0305%	1h	1,493.4	−0.075%	$49K	$63K	10x	as long as short
Lighter ZEC	+0.0336%	1h	1,495.4	+0.059%	$19.6M	$45.3M	20x	as long as short
Lighter RH ZEC	+0.0408%	1h	1,495.6	+0.068%	$2.1M	$7.3M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0480%	1h	1,494.9	+0.026%	$3.6M	$9.9M	50x	as long as short