Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0015%/8h= −1.7% APRpaid last 24h −0.017%

Price spread now: Orderly against Bullet−0.012%7-day average +0.019% · you buy dearer than you sell

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

Long on Bullet Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.075%−$8 on $10k

Price spread, last 4 days (all we have)+1.476%+$148 · spread now −0.012%, 7d avg +0.019%

Together, before fees+1.401%+$140 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Orderly is 0.031% cheaper against Bullet than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.019%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet ZEC-USD	1,503.3	0.0100	pay 0.0013% / 1h	30m 36s	$168K	$194K	20x
Short	Orderly PERP_ZEC_USDC	1,503.1	0.0085	get 0.0085% / 8h	7h 30m	$303K	$861K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.012%Rate

Funding earned: −$3.23
Price spread: −0.012% → +0.019%: −$3.07
Slippage, 4 orders: no order book: not counted
Fee Bullet: 4 bp × 2 orders: −$8
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$20.3
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Bullet: live order book, 3 min ago; Orderly: 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 Bullet live order book, 3 min ago	0.56 bp	6.1 bp −$6	12.0 bp −$120	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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	−0.3702%	1h	1,491.4	−0.791%	$36K	$275K	12x	as long as short
Perpl ZEC	−0.0447%	43m	1,502.1	−0.081%	$62K	$305K	10x	as long as short
Aftermath Perps ZECUSD	−0.0204%	1h	1,506.4	+0.206%	$48K	$58K	10x	as long as short
BloFin ZEC-USDT	−0.0155%	8h	1,503.6	+0.019%	$31.8M	$76.4M	75x	as long as short
Bulk ZEC-USD	−0.0098%	1h	1,506.5	+0.214%	$775K	$147K	10x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,502.1	−0.078%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,503.3	0.000%	$417K	$34K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,504.1	+0.050%	$1.6M	$5.0M	2.2x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,503	−0.018%	$5.4M	—	150x	as long as short
Kraken Futures PF_ZECUSD	+0.0019%	1h	1,503.6	+0.019%	$18.3M	$48.0M	25x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange ZECUSD	+0.0032%	1h	1,502.3	−0.070%	$8K	$6K	5x	as long as short
Gate ZEC_USDT	+0.0065%	8h	1,501.7	−0.109%	$60.4M	$185.8M	75x	as long as short
Phoenix ZEC	+0.0082%	1h	1,507	+0.246%	$4.8M	$1.4M	10x	as long as short
Orderly PERP_ZEC_USDCshort	+0.0085%	8h	1,503.1	−0.012%	$303K	$861K	20x
Lighter ZEC	+0.0096%	1h	1,503.4	+0.006%	$19.5M	$45.0M	20x	as long as short
Lighter RH ZEC	+0.0096%	1h	1,503.2	−0.011%	$2.1M	$7.5M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,502.4	−0.064%	$171K	$1.8M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,502.1	−0.081%	$62K	$17K	10x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,502.3	−0.065%	$16K	$898K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,503.5	+0.015%	$3.1M	$7.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,501.7	−0.107%	$785.7M	$446.8M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,501.7	−0.108%	$14.1M	$30.7M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,502.4	−0.062%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,502.4	−0.064%	$709.5M	$2.33B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,502.3	−0.070%	$269.3M	$624.7M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,502.5	−0.052%	$184.9M	$1.37B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,501.6	−0.114%	$408K	$557K	5x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,503.2	−0.010%	$611K	$9.0M	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,502.4	−0.060%	$404.5M	$835.2M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,501.4	−0.130%	$102.6M	$57.3M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,502.2	−0.072%	$162.4M	$295.6M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,502.4	−0.061%	—	$120.2M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,502.5	−0.051%	$49.7M	$36.0M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,505.3	+0.131%	$555K	$9.2M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,506.8	+0.229%	$3.1M	$533K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,505.8	+0.166%	$413K	$952K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,504.7	+0.089%	$50K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,503.8	+0.032%	$373K	$1.7M	10x	as long as short
Bullet ZEC-USDlong	+0.0100%	1h	1,503.3	long leg	$168K	$194K	20x
Derive ZEC-PERP	+0.0100%	1h	1,502.5	−0.053%	$449K	$419K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,505.8	+0.165%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,503.3	−0.001%	$254K	$3.6M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,502.4	−0.060%	$2.7M	$21.2M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,504	+0.044%	$4.0M	$4.9M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,502.1	−0.078%	$2.8M	$8.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,503.1	−0.013%	$44K	$153K	20x	as long as short
RISEx ZEC/USDC	+0.0157%	1h	1,502.4	−0.063%	$994K	$1.1M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0159% / S −0.0164%	1h	1,503.5	+0.011%	$334K	—	100x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0169%	1h	1,503.9	+0.042%	$688K	$1.4M	25x	as long as short
Backpack ZEC_USDC_PERP	+0.0315%	1h	1,503.7	+0.026%	$2.4M	$3.8M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0368%	1h	1,504.8	+0.098%	$3.8M	$10.0M	50x	as long as short