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 +0.011%

Price spread now: Variational Omni against Bybit−0.212%7-day average −0.032% · you buy dearer than you sell

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

Long on Bybit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.016%+$2 on $10k

Price spread, last 7 days+0.200%+$20 · spread now −0.212%, 7d avg −0.032%

Together, before fees+0.217%+ Points / potential airdropVariational Omni: Active · farm board+$22 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: Variational Omni is 0.180% cheaper against Bybit than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of −0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ZECUSDT	1,477.3	0.0100	pay 0.0100% / 8h	1h 31m	$265.5M	$631.6M	75x
Short	Variational Omni ZEC	1,474.2	0.0100	get 0.0100% / 8h	1h 31m	$48.1M	$34.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Bybit. 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 BybitbpFee Variational OmnibpOrdersPrice spread, now −0.212%Rate

Funding earned: $0
Price spread: −0.212% → −0.032%: −$18.05
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$29.05
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 7 min ago; Variational Omni: RFQ quote, 3 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 Bybit live order book, 7 min ago	0.03 bp	7.7 bp −$8	9.4 bp −$94	18.0 bp −$1,799	39.1 bp −$19.6K
Sell Variational Omni RFQ quote, 3 min ago	2.78 bp	doesn't fit	6.6 bp −$66	14.0 bp −$1,403	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	1,477.8	+0.037%	$36K	$275K	12x	as long as short
Bulk ZEC-USD	−0.0166%	1h	1,477.1	−0.013%	$892K	$9K	10x	as long as short
BloFin ZEC-USDT	−0.0130%	8h	1,476.4	−0.064%	$30.6M	$73.7M	75x	as long as short
Kraken Futures PF_ZECUSD	−0.0097%	1h	1,476.7	−0.043%	$17.9M	$47.1M	25x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,478.5	+0.081%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,476.3	−0.069%	$410K	$35K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,477.9	+0.043%	$1.5M	$4.6M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,474.5	−0.186%	$62K	$303K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,476.7	−0.037%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0077%	8h	1,476.4	−0.062%	$297K	$1.1M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex ZECUSDT	+0.0096%	1h	1,477.1	−0.015%	$163K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0098%	8h	1,477.1	−0.012%	$13K	$866K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,476.9	−0.029%	$2.7M	$7.0M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,476.6	−0.048%	$13.8M	$31.0M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,477.3	−0.002%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,477.4	+0.004%	$687.7M	$2.30B	75x	as long as short
Bybit ZECUSDTlong	+0.0100%	8h	1,477.3	long leg	$265.5M	$631.6M	75x
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,477.5	+0.012%	$178.7M	$1.31B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,472.5	−0.324%	$403K	$507K	5x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,477.3	+0.001%	$54.2M	$182.7M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,477.3	−0.001%	$237.6M	$783.4M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,476.7	−0.038%	$101.2M	$57.5M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,477.4	+0.009%	$158.9M	$288.6M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,477.4	+0.007%	—	$115.2M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,477.3	+0.002%	$2.3M	$3.9M	15x	as long as short
Variational Omni ZECshort	+0.0100%	8h	1,474.2	−0.212%	$48.1M	$34.1M	—
edgeX ZECUSDC	+0.0100%	4h	1,476.3	−0.069%	$564K	$8.9M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,476.1	−0.083%	$3.0M	$488K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,476.1	−0.084%	$406K	$935K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,477.2	−0.004%	$56K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,476	−0.087%	$356K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,476.5	−0.055%	$162K	$184K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,473.4	−0.264%	$450K	$500K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,480	+0.185%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,476.7	−0.043%	$251K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,477	−0.020%	$2.6M	$19.7M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,476.9	−0.026%	$3.9M	$5.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,477	−0.019%	$61K	$43K	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0102%	1h	1,477.3	+0.003%	$675K	$1.4M	25x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,477.5	+0.013%	$2.7M	$8.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,476.5	−0.054%	$42K	$152K	20x	as long as short
Aftermath Perps ZECUSD	+0.0111%	1h	1,477.5	+0.012%	$47K	$64K	10x	as long as short
RISEx ZEC/USDC	+0.0129%	1h	1,477.7	+0.026%	$925K	$1.1M	10x	as long as short
Phoenix ZEC	+0.0134%	1h	1,476.1	−0.078%	$4.7M	$1.4M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0142% / S −0.0146%	1h	1,476.4	−0.063%	$478K	—	100x	as long as short
01 Exchange ZECUSD	+0.0144%	1h	1,478.1	+0.055%	$8K	$7K	5x	as long as short
Arcus ZEC-USD	+0.0221%	1h	1,479.4	+0.145%	$635K	$8.6M	10x	as long as short
Hyperliquid ZEC	+0.0241%	1h	1,478	+0.048%	$767.1M	$442.1M	10x	as long as short
Lighter RH ZEC	+0.0256%	1h	1,478	+0.051%	$2.1M	$7.4M	10x	as long as short
Lighter ZEC	+0.0312%	1h	1,478.2	+0.064%	$19.4M	$45.8M	20x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0480%	1h	1,479.1	+0.122%	$3.6M	$9.9M	50x	as long as short