Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h +0.006%

Price spread now: Nado against Bullet−0.025%65s7-day average +0.040% · 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−$240.240% of the position

Long on Bullet Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.010%+$1 on $10k

Price spread, last 4 days (all we have)+0.144%+$14 · spread now −0.025%, 7d avg +0.040%

Together, before fees+0.155%+ Points / potential airdropNado: Active · farm board+$15 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: Nado is 0.065% cheaper against Bullet than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.040%. The two prices were read 65 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	1,484.1	0.0100	pay 0.0013% / 1h	47m 27s	$163K	$185K	20x
Short	Nado ZEC-PERP	1,483.7	0.0100	get 0.0012% / 1h	47m 27s	$2.8M	$6.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.025%Rate

Funding earned: $0
Price spread: −0.025% → +0.040%: −$6.53
Slippage, 4 orders: −$8.96
Fee Bullet: 4 bp × 2 orders: −$8
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$30.49
Costs to cover: 0.240%
Break-even: never at this rate

Slippage from Bullet: live order book, 61 min ago; Nado: live order book, 2 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, 61 min ago	1.71 bp	7.2 bp −$7	14.0 bp −$140	doesn't fit	doesn't fit
Sell Nado live order book, 2 min ago	0.71 bp	5.4 bp −$5	8.1 bp −$81	34.1 bp −$3,414	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	+0.504%	$34K	$273K	12x	as long as short
BloFin ZEC-USDT	−0.0118%	8h	1,484.5	+0.025%	$30.7M	$73.8M	75x	as long as short
Bulk ZEC-USD	−0.0097%	1h	1,490.7	+0.441%	$901K	$15K	10x	as long as short
Kraken Futures PF_ZECUSD	−0.0097%	1h	1,484	−0.010%	$18.0M	$46.5M	25x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,483.8	−0.021%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,482.5	−0.106%	$412K	$35K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,484.3	+0.016%	$1.6M	$4.7M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,483.2	−0.060%	$61K	$297K	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	0.0000%	1h	1,484.2	+0.007%	$706K	$1.4M	25x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,483.9	−0.013%	$5.3M	—	150x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_ZEC_USDC	+0.0073%	8h	1,483.4	−0.048%	$298K	$1.1M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,484.6	+0.030%	$158K	$1.7M	50x	as long as short
Nado ZEC-PERPshort	+0.0100%	1h	1,483.7	−0.025%	$2.8M	$6.6M	10x
Aster ZECUSDT	+0.0100%	8h	1,483.9	−0.013%	$14.1M	$30.8M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,483.7	−0.027%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,484.1	+0.002%	$690.8M	$2.29B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,483.9	−0.016%	$269.7M	$627.6M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,483.6	−0.032%	$179.8M	$1.31B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,480.8	−0.222%	$405K	$505K	5x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,484.2	+0.005%	$54.2M	$180.2M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,484.1	+0.001%	$236.9M	$776.3M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,484.7	+0.040%	$101.8M	$56.8M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,484.5	+0.030%	$160.0M	$288.2M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,484	−0.006%	—	$114.4M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,483.9	−0.016%	$2.3M	$3.9M	15x	as long as short
Variational Omni ZEC	+0.0100%	8h	1,483	−0.075%	$48.4M	$33.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,484.5	+0.029%	$568K	$8.9M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,485.3	+0.081%	$3.0M	$488K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,484.3	+0.010%	$411K	$932K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,484	−0.010%	$56K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,484	−0.007%	$358K	$1.7M	10x	as long as short
Bullet ZEC-USDlong	+0.0100%	1h	1,484.1	long leg	$163K	$185K	20x
Derive ZEC-PERP	+0.0100%	1h	1,482.6	−0.104%	$453K	$500K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,484.7	+0.040%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,483.8	−0.020%	$253K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,482.3	−0.119%	$2.6M	$19.6M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,483.9	−0.011%	$4.0M	$5.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,483.3	−0.055%	$61K	$43K	10x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,484.2	+0.003%	$11K	$864K	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,484.4	+0.019%	$2.7M	$7.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,483.7	−0.027%	$45K	$149K	20x	as long as short
01 Exchange ZECUSD	+0.0112%	1h	1,485.3	+0.078%	$8K	$7K	5x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0122% / S −0.0108%	1h	1,483.6	−0.035%	$430K	—	100x	as long as short
RISEx ZEC/USDC	+0.0129%	1h	1,485	+0.063%	$929K	$1.1M	10x	as long as short
Phoenix ZEC	+0.0134%	1h	1,484.9	+0.055%	$4.7M	$1.4M	10x	as long as short
Hyperliquid ZEC	+0.0156%	1h	1,485.9	+0.121%	$771.9M	$440.5M	10x	as long as short
Aftermath Perps ZECUSD	+0.0206%	1h	1,486.3	+0.147%	$48K	$63K	10x	as long as short
Arcus ZEC-USD	+0.0221%	1h	1,486	+0.129%	$625K	$8.6M	10x	as long as short
Lighter RH ZEC	+0.0288%	1h	1,485.6	+0.098%	$2.1M	$7.3M	10x	as long as short
Lighter ZEC	+0.0328%	1h	1,484.2	+0.009%	$19.4M	$45.5M	20x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0480%	1h	1,485.9	+0.120%	$3.6M	$9.9M	50x	as long as short