Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0121%/8h= −13.2% APRpaid last 24h −0.007%

Price spread now: Variational Omni against Bulk+0.033%7-day average −0.042% · you sell dearer than you buy

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

Long on Bulk Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.026%+$3 on $10k

Price spread, last 4 days (all we have)−0.342%−$34 · spread now +0.033%, 7d avg −0.042%

Together, before fees−0.317%+ Points / potential airdropVariational Omni: Active · farm board−$32 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.075% dearer against Bulk than usual: you sell high and buy low (spread +0.033% now, against its 7-day average of −0.042%): +$7 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 2.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk ZEC-USD	1,465.9	0.0100	pay 0.0013% / 1h	10m 21s	$892K	$22K	10x
Short	Variational Omni ZEC	1,466.4	−0.0021	pay 0.0021% / 8h	7h 10m	$47.6M	$33.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Bulk. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now +0.033%Rate

Funding earned: −$25.35
Price spread: +0.033% → −0.042%: $7.47
Slippage, 4 orders: no order book: not counted
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$24.88
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Bulk: live order book, 64 min ago; Variational Omni: RFQ quote, 4 min ago. 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, 64 min ago	0.03 bp	3.5 bp −$4	3.7 bp −$37	6.6 bp −$656	13.4 bp −$6,720
Sell Variational Omni RFQ quote, 4 min ago	2.76 bp	doesn't fit	5.5 bp −$55	15.4 bp −$1,543	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	−0.3321%	1h	1,467.7	+0.121%	$34K	$275K	12x	as long as short
Kraken Futures PF_ZECUSD	−0.0343%	1h	1,467.1	+0.086%	$17.9M	$43.0M	25x	as long as short
Ondo Perps ZEC-USD.P	−0.0118%	1h	1,466.6	+0.049%	$398K	$517K	5x	as long as short
BloFin ZEC-USDT	−0.0116%	8h	1,467.7	+0.122%	$29.7M	$72.4M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,467.5	+0.111%	$6K	$2K	10x	as long as short
Variational Omni ZECshort	−0.0021%	8h	1,466.4	+0.033%	$47.6M	$33.6M	—
dYdX ZEC-USD	0.0000%	1h	1,466.4	+0.036%	$413K	$103K	5x	as long as short
01 Exchange ZECUSD	0.0000%	1h	1,467.5	+0.110%	$8K	$9K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,467.3	+0.094%	$958K	$5.2M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,466.5	+0.040%	$83K	$405K	10x	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	1,467.3	+0.097%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0020%	8h	1,467	+0.077%	$293K	$1.1M	20x	as long as short
Phoenix ZEC	+0.0054%	1h	1,469.7	+0.261%	$4.6M	$1.6M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0055% / S −0.0010%	1h	1,467.1	+0.085%	$377K	—	100x	as long as short
OKX ZEC-USDT-SWAP	+0.0064%	8h	1,467.3	+0.099%	$181.3M	$1.29B	50x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,467.2	+0.092%	$173K	$1.9M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,467	+0.074%	$12K	$847K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,467.3	+0.095%	$60K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,467.5	+0.108%	$2.6M	$6.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,468	+0.145%	$762.5M	$454.9M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,467.1	+0.083%	$14.9M	$31.4M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,467.6	+0.119%	$1.7M	$2.8M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,467.2	+0.090%	$682.0M	$2.36B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,467	+0.073%	$272.9M	$628.9M	75x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,468.9	+0.203%	$699K	$8.6M	10x	as long as short
Bulk ZEC-USDlong	+0.0100%	1h	1,465.9	long leg	$892K	$22K	10x
Gate ZEC_USDT	+0.0100%	8h	1,467.1	+0.086%	$50.3M	$181.7M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,467.2	+0.089%	$226.7M	$829.5M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,467.4	+0.105%	$104.0M	$55.6M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,467.1	+0.083%	$163.1M	$290.2M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,466.2	+0.023%	—	$6.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,466.3	+0.030%	$570K	$9.2M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,467.2	+0.093%	$3.0M	$447K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,466.1	+0.012%	$426K	$881K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,466.5	+0.042%	$71K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,467.1	+0.083%	$339K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,467.2	+0.088%	$128K	$158K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,465.6	−0.018%	$457K	$509K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,469.5	+0.248%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,467.1	+0.084%	$242K	$3.9M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,467.2	+0.090%	$2.5M	$19.3M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,467.5	+0.113%	$3.8M	$5.3M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,467.1	+0.086%	$3.2M	$7.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,467.2	+0.093%	$54K	$164K	20x	as long as short
RISEx ZEC/USDC	+0.0228%	1h	1,467.9	+0.140%	$852K	$1.0M	10x	as long as short
Lighter ZEC	+0.0240%	1h	1,468.7	+0.194%	$19.1M	$50.6M	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0273%	1h	1,468	+0.143%	$604K	$1.3M	25x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0448%	1h	1,469.3	+0.231%	$3.7M	$9.6M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0507%	1h	1,468	+0.143%	$2.5M	$3.9M	15x	as long as short
Lighter RH ZEC	+0.0720%	1h	1,469.3	+0.235%	$2.0M	$8.3M	10x	as long as short
Aftermath Perps ZECUSD	+0.0759%	1h	1,468	+0.148%	$43K	$46K	10x	as long as short