Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0064%/8h= −7.0% APRpaid last 24h +0.015%

Price spread now: Bybit against dYdX+0.020%50s7-day average −0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$106as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1021.017% of the position

Long on dYdX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.043%−$4 on $10k

Price spread, last 4 days (all we have)−0.156%−$16 · spread now +0.020%, 7d avg −0.009%

Together, before fees−0.199%−$20 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.029% dearer against dYdX than usual: you sell high and buy low (spread +0.020% now, against its 7-day average of −0.009%): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 36 hours. At the pace of the last 7 days (−0.043% in total) that is about 4.8 days. The two prices were read 50 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	dYdX ZEC-USD	1,464.2	0	get 0.0000% / 1h	19m 55s	$412K	$104K	5x
Short	Bybit ZECUSDT	1,464.5	−0.0064	pay 0.0064% / 8h	1h 19m	$270.9M	$667.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against dYdX. 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 dYdXbpFee BybitbpOrdersPrice spread, now +0.020%Rate

Funding earned: −$13.52
Price spread: +0.020% → −0.009%: $2.93
Slippage, 4 orders: −$80.74
Fee dYdX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$112.33
Costs to cover: 1.017%
Break-even: never at this rate

Slippage from dYdX: live order book, 64 min ago; Bybit: live order book, 4 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 dYdX live order book, 64 min ago	38.64 bp	44.8 bp −$45	52.1 bp −$521	102.1 bp −$10.2K	416.9 bp −$208.5K
Sell Bybit live order book, 4 min ago	0.03 bp	6.5 bp −$6	8.3 bp −$83	16.7 bp −$1,673	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	−0.3310%	1h	1,465.9	+0.115%	$34K	$275K	12x	as long as short
Kraken Futures PF_ZECUSD	−0.0405%	1h	1,464.9	+0.050%	$17.8M	$44.6M	25x	as long as short
Ondo Perps ZEC-USD.P	−0.0234%	1h	1,464.3	+0.008%	$397K	$514K	5x	as long as short
BloFin ZEC-USDT	−0.0087%	8h	1,463.4	−0.052%	$29.2M	$75.3M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,464.4	+0.014%	$6K	$2K	10x	as long as short
Bybit ZECUSDTshort	−0.0064%	8h	1,464.5	+0.020%	$270.9M	$667.4M	75x
Variational Omni ZEC	−0.0030%	8h	1,462.2	−0.132%	$46.6M	$33.4M	—	as long as short
dYdX ZEC-USDlong	0.0000%	1h	1,464.2	long leg	$412K	$104K	5x
Kalshi KXZECPERP	0.0000%	8h	1,464.7	+0.033%	$884K	$5.6M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,464	−0.013%	$83K	$404K	10x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,464.5	+0.022%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0012%	8h	1,464.4	+0.016%	$292K	$1.4M	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0037% / S +0.0009%	1h	1,464.2	0.000%	$355K	—	100x	as long as short
Gate ZEC_USDT	+0.0043%	8h	1,465.2	+0.068%	$49.7M	$186.4M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0048%	8h	1,465	+0.053%	$176.7M	$1.35B	50x	as long as short
01 Exchange ZECUSD	+0.0064%	1h	1,464	−0.012%	$8K	$8K	5x	as long as short
Phoenix ZEC	+0.0075%	1h	1,465	+0.056%	$4.6M	$1.6M	10x	as long as short
ApeX Omni ZECUSDT	+0.0082%	1h	1,467.6	+0.233%	$431K	$822K	50x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,463.1	−0.073%	$173K	$1.9M	50x	as long as short
Katana Perps ZEC-USD	+0.0096%	8h	1,464.1	−0.003%	$14K	$832K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,463.8	−0.025%	$60K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,464.3	+0.007%	$2.5M	$6.8M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,466.2	+0.138%	$760.7M	$478.6M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,464.9	+0.046%	$15.6M	$32.7M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,464.7	+0.034%	$1.7M	$3.0M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,465.3	+0.078%	$675.0M	$2.48B	75x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,463.9	−0.016%	$903K	$27K	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,465	+0.057%	$222.2M	$866.2M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,464.9	+0.048%	$103.6M	$55.8M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,465	+0.056%	$162.4M	$304.6M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,463.6	−0.040%	—	$6.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,467.7	+0.238%	$512K	$9.5M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,467.4	+0.220%	$3.0M	$481K	10x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,464.7	+0.033%	$110K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,463.1	−0.074%	$343K	$1.9M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,463.9	−0.022%	$127K	$160K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,463.1	−0.076%	$447K	$502K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,465.2	+0.067%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,464.6	+0.025%	$222K	$4.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,462.9	−0.091%	$2.5M	$23.7M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,465.2	+0.068%	$3.8M	$5.3M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,465.3	+0.078%	$3.3M	$6.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,464.4	+0.012%	$37K	$366K	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0124%	1h	1,465.4	+0.083%	$596K	$1.3M	25x	as long as short
Lighter ZEC	+0.0128%	1h	1,466.6	+0.163%	$19.0M	$52.7M	20x	as long as short
Backpack ZEC_USDC_PERP	+0.0174%	1h	1,465.5	+0.088%	$2.3M	$3.8M	15x	as long as short
RISEx ZEC/USDC	+0.0190%	1h	1,464.1	−0.004%	$841K	$1.3M	10x	as long as short
Lighter RH ZEC	+0.0400%	1h	1,466.9	+0.187%	$2.0M	$8.3M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0424%	1h	1,466	+0.124%	$3.7M	$11.5M	50x	as long as short
Arcus ZEC-USD	+0.0444%	1h	1,465.1	+0.062%	$729K	$8.2M	10x	as long as short
Aftermath Perps ZECUSD	+0.0574%	1h	1,465.2	+0.067%	$41K	$34K	10x	as long as short