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Funding arb · Price arb /

ZEC

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 00:00 UTC+0.0274%/8h= +30.0% APRpaid last 24h +0.002%
Price spread now: Deribit against Bybit+0.323%7-day average +0.084% · you sell dearer than you buy
Net, funding: paid 7d − costs−$39as in the Funding arb table
Net, price: spread back to 7d avg − costs−$9as in the Price arb table
costs, in and out, $10k−$330.326% of the position
Long on BybitShort on Deribit
What this pair did over the last
the charts below follow
Funding, last 7 days−0.060%−$6 on $10k
Price spread, last 3 days (all we have)+0.019%+$2 · spread now +0.323%, 7d avg +0.084%
Together, before fees−0.042%−$4 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Deribit is 0.239% dearer against Bybit than usual: you sell high and buy low: +$24 more if the spread goes back to its 7-day average of +0.084%. Mind the row above: over the last 7 days funding on this pair cost −0.060%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.060% in total (about -3.2% 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.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit ZECUSDT1,466.7−0.0116get 0.0116% / 8h24m 45s$274.3M$654.6M75x
ShortDeribit ZEC_USDC-PERPETUAL1,471.50.0158get 0.0020% / 1h24m 45s$614K$1.3M25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Deribit against Bybit. 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

Funding earned
$57.44
Price spread: +0.323% → +0.084%
$23.93
Slippage, 4 orders
−$14.64
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee Deribit: 3.5 bp × 2 orders
−$7
Net
$48.73
Costs to cover
0.326%
Break-even
1.1 days
Slippage from Bybit: live order book, 4 min ago; Deribit: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Bybit live order book, 4 min ago0.03 bp5.6 bp −$67.8 bp −$7818.6 bp −$1,861doesn't fit
Sell Deribit live order book, 4 min ago5.61 bp10.6 bp −$1115.9 bp −$159doesn't fitdoesn't fit

ZEC on 51 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective ZEC/USDC PERP−0.3089%1h1,472.9+0.423%$34K$275K12xas long as short
Ondo Perps ZEC-USD.P−0.0270%1h1,466.3−0.029%$399K$518K5xas long as short
Kraken Futures PF_ZECUSD−0.0225%1h1,471.2+0.302%$17.9M$44.3M25xas long as short
Bybit ZECUSDTlong−0.0116%8h1,466.7long leg$274.3M$654.6M75x
BloFin ZEC-USDT−0.0102%8h1,470.8+0.280%$29.7M$75.1M75xas long as short
Hotstuff ZEC-PERP−0.0080%1h1,469.8+0.207%$6K$2K10xas long as short
Variational Omni ZEC−0.0060%8h1,471.8+0.343%$46.8M$33.9M—as long as short
ApeX Omni ZECUSDT−0.0006%1h1,470.3+0.241%$431K$842K50xas long as short
dYdX ZEC-USD0.0000%1h1,467.6+0.057%$413K$104K5xas long as short
Kalshi KXZECPERP0.0000%8h1,468.6+0.130%$901K$5.6M2.2xas long as short
Show all 51 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Perpl ZEC0.0000%43m1,469.4+0.185%$83K$404K10xas long as short
gTrade (Gains Network) ZEC/USDL +0.0007% / S −0.0006%1h1,470.1+0.232%$5.2M—150xas long as short
Orderly PERP_ZEC_USDC+0.0013%8h1,470.5+0.254%$295K$1.4M20xas long as short
01 Exchange ZECUSD+0.0016%1h1,469.9+0.215%$8K$8K5xas long as short
Phoenix ZEC+0.0024%1h1,470.8+0.276%$4.6M$1.6M10xas long as short
OKX ZEC-USDT-SWAP+0.0039%8h1,467+0.022%$180.9M$1.34B50xas long as short
Gate ZEC_USDT+0.0043%8h1,467.1+0.029%$50.5M$186.8M75xas long as short
GMX ZEC/USD [WBTC.b-USDC]L +0.0055% / S −0.0010%1h1,470.1+0.232%$371K—100xas long as short
Lighter ZEC+0.0096%1h1,473.1+0.434%$19.2M$52.4M20xas long as short
Popdex ZECUSDT+0.0096%1h1,469.5+0.187%$175K$1.9M50xas long as short
Katana Perps ZEC-USD+0.0097%8h1,466.1−0.046%$13K$834K10xas long as short
Paradex ZEC-USD-PERP+0.0100%8h1,467+0.016%$60K$39K10xas long as short
Nado ZEC-PERP+0.0100%1h1,469.7+0.206%$2.6M$6.8M10xas long as short
Hyperliquid ZEC+0.0100%1h1,472.5+0.394%$763.3M$472.1M10xas long as short
Aster ZECUSDT+0.0100%8h1,471.1+0.296%$15.0M$32.7M75xas long as short
Pacifica ZEC+0.0100%1h1,468.3+0.108%$1.7M$2.9M10xas long as short
Binance ZECUSDT+0.0100%8h1,467.8+0.072%$682.8M$2.46B75xas long as short
Arcus ZEC-USD+0.0100%1h1,468.7+0.132%$701K$8.4M10xas long as short
Bulk ZEC-USD+0.0100%1h1,469.8+0.207%$894K$39K10xas long as short
MEXC ZEC_USDT+0.0100%8h1,471.4+0.318%$232.1M$839.4M150xas long as short
KuCoin ZECUSDTM+0.0100%8h1,471.4+0.320%$103.6M$56.0M75xas long as short
Bitget ZECUSDT+0.0100%8h1,467.1+0.022%$162.6M$301.3M75xas long as short
BingX ZEC-USDT+0.0100%8h1,467.1+0.029%—$102.4M—as long as short
edgeX ZECUSDC+0.0100%4h1,470.6+0.264%$513K$9.2M20xas long as short
GRVT ZEC_USDT_Perp+0.0100%8h1,473.2+0.439%$3.0M$454K10xas long as short
StandX ZEC-USD+0.0100%1h1,471.9+0.352%$110K$4.8M30xas long as short
Polymarket Perps ZEC-USD+0.0100%1h1,469.5+0.190%$343K$1.8M10xas long as short
Bullet ZEC-USD+0.0100%1h1,469.7+0.202%$128K$159K20xas long as short
Derive ZEC-PERP+0.0100%1h1,468.9+0.148%$448K$498K6.7xas long as short
SunX ZEC-USDT+0.0100%8h1,472+0.361%$3K$1.2M20xas long as short
SoDEX ZEC-USD+0.0100%1h1,470.5+0.254%$238K$4.4M10xas long as short
HTX ZEC-USDT+0.0100%8h1,470.6+0.262%$2.5M$23.1M75xas long as short
Phemex ZECUSDT+0.0100%8h1,471.7+0.340%$3.8M$5.3M50xas long as short
Extended ZEC-USD+0.0104%1h1,467.3+0.040%$3.2M$7.0M10xas long as short
Aevo ZEC-PERP+0.0104%1h1,470.2+0.236%$37K$366K20xas long as short
RISEx ZEC/USDC+0.0132%1h1,467.5+0.054%$823K$1.2M10xas long as short
Deribit ZEC_USDC-PERPETUALshort+0.0158%1h1,471.5+0.323%$614K$1.3M25x
Backpack ZEC_USDC_PERP+0.0414%1h1,472.3+0.381%$2.4M$3.8M15xas long as short
Coinbase International ZEC-PERP-INTX+0.0432%1h1,473.6+0.472%$3.8M$10.6M50xas long as short
Lighter RH ZEC+0.0456%1h1,469.8+0.210%$2.0M$8.4M10xas long as short
Aftermath Perps ZECUSD+0.0725%1h1,471.4+0.318%$46K$47K10xas long as short