Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.076%

Price spread now: ApeX Omni against Bullet−0.066%54s7-day average −0.146% · you buy dearer than you sell

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−$310.307% of the position

Long on Bullet Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.424%−$42 on $10k

Price spread, last 4 days (all we have)−1.575%−$158 · spread now −0.066%, 7d avg −0.146%

Together, before fees−1.999%−$200 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: ApeX Omni is 0.079% dearer against Bullet than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.146%. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet ZEC-USD	1,508.8	0.0100	pay 0.0013% / 1h	11m 35s	$168K	$189K	20x
Short	ApeX Omni ZECUSDT	1,507.8	0.0100	get 0.0013% / 1h	11m 35s	$415K	$947K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Bullet. 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 BulletbpFee ApeX OmnibpOrdersPrice spread, now −0.066%Rate

Funding earned: $0
Price spread: −0.066% → −0.146%: $7.94
Slippage, 4 orders: −$12.68
Fee Bullet: 4 bp × 2 orders: −$8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$22.74
Costs to cover: 0.307%
Break-even: never at this rate

Slippage from Bullet: live order book, 27 min ago; ApeX Omni: live order book, 27 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 Bullet live order book, 27 min ago	0.40 bp	5.9 bp −$6	12.3 bp −$123	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 27 min ago	4.29 bp	9.8 bp −$10	37.2 bp −$372	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	−0.3442%	1h	1,490.6	−1.203%	$36K	$275K	12x	as long as short
Perpl ZEC	−0.0447%	43m	1,507.7	−0.072%	$62K	$303K	10x	as long as short
BloFin ZEC-USDT	−0.0179%	8h	1,507.4	−0.093%	$31.1M	$76.3M	75x	as long as short
Bulk ZEC-USD	−0.0108%	1h	1,495.7	−0.866%	$810K	$100K	10x	as long as short
Aftermath Perps ZECUSD	−0.0088%	1h	1,504.1	−0.309%	$48K	$58K	10x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,509.7	+0.060%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,508.6	−0.011%	$419K	$34K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,510.5	+0.117%	$1.5M	$4.4M	2.2x	as long as short
Deribit ZEC_USDC-PERPETUAL	0.0000%	1h	1,509.9	+0.076%	$689K	$1.4M	25x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,509	+0.016%	$5.4M	—	150x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_ZECUSD	+0.0012%	1h	1,509.8	+0.069%	$18.1M	$47.3M	25x	as long as short
Ondo Perps ZEC-USD.P	+0.0065%	1h	1,507.4	−0.091%	$412K	$559K	5x	as long as short
01 Exchange ZECUSD	+0.0080%	1h	1,509.4	+0.044%	$8K	$6K	5x	as long as short
Orderly PERP_ZEC_USDC	+0.0083%	8h	1,509.4	+0.042%	$304K	$864K	20x	as long as short
Phoenix ZEC	+0.0096%	1h	1,508.1	−0.044%	$4.8M	$1.4M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,509.4	+0.042%	$176K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0098%	8h	1,509	+0.012%	$14K	$892K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,509.5	+0.049%	$62K	$19K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,509	+0.017%	$3.1M	$7.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,510.6	+0.121%	$791.4M	$443.6M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,508.9	+0.008%	$14.1M	$30.8M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,509.9	+0.074%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,509.5	+0.048%	$706.1M	$2.30B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,508.4	−0.023%	$272.6M	$620.1M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,508.8	−0.001%	$184.3M	$1.36B	50x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,509.3	+0.033%	$58.9M	$187.5M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,509.4	+0.038%	$239.8M	$808.1M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,510.1	+0.091%	$103.8M	$56.6M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,509.5	+0.048%	$163.5M	$290.0M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,509.3	+0.035%	—	$118.0M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,501.9	−0.454%	$49.1M	$34.4M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,504.8	−0.266%	$576K	$9.1M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,508.8	+0.004%	$3.1M	$519K	10x	as long as short
ApeX Omni ZECUSDTshort	+0.0100%	1h	1,507.8	−0.066%	$415K	$947K	50x
StandX ZEC-USD	+0.0100%	1h	1,509	+0.018%	$56K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,508.7	−0.005%	$363K	$1.6M	10x	as long as short
Bullet ZEC-USDlong	+0.0100%	1h	1,508.8	long leg	$168K	$189K	20x
Derive ZEC-PERP	+0.0100%	1h	1,508.4	−0.025%	$460K	$438K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,511.4	+0.172%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,509.5	+0.048%	$255K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,509.1	+0.023%	$2.7M	$20.9M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,509.2	+0.030%	$4.0M	$4.9M	50x	as long as short
Lighter RH ZEC	+0.0104%	1h	1,510.7	+0.126%	$2.1M	$7.6M	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,509.3	+0.037%	$2.8M	$7.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,509.5	+0.046%	$43K	$151K	20x	as long as short
RISEx ZEC/USDC	+0.0128%	1h	1,509.5	+0.046%	$950K	$1.1M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0147% / S −0.0146%	1h	1,508.9	+0.009%	$335K	—	100x	as long as short
Lighter ZEC	+0.0184%	1h	1,510.6	+0.119%	$19.9M	$46.5M	20x	as long as short
Arcus ZEC-USD	+0.0403%	1h	1,509.7	+0.064%	$608K	$8.8M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0416%	1h	1,510.8	+0.135%	$3.7M	$9.7M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0492%	1h	1,509.9	+0.076%	$2.4M	$3.8M	15x	as long as short