Funding arb · Price arb /

ZEC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.005%

Price spread now: Bullet against edgeX+0.653%67s7-day average +0.056% · you sell dearer than you buy

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−$220.217% of the position

Long on edgeX Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.010%−$1 on $10k

Price spread, last 4 days (all we have)+0.730%+$73 · spread now +0.653%, 7d avg +0.056%

Together, before fees+0.720%+ Points / potential airdropedgeX: Active · farm board+$72 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: Bullet is 0.597% dearer against edgeX than usual: you sell high and buy low, +$60 on $10k if it goes back to its 7-day average of +0.056%. The two prices were read 67 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	edgeX ZECUSDC	1,493.9	0.0100	pay 0.0050% / 4h	18m 11s	$572K	$9.0M	20x
Short	Bullet ZEC-USD	1,503.7	0.0100	get 0.0013% / 1h	18m 11s	$165K	$184K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against edgeX. 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 edgeXbpFee BulletbpOrdersPrice spread, now +0.653%Rate

Funding earned: $0
Price spread: +0.653% → +0.056%: $59.74
Slippage, 4 orders: −$4.65
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Bullet: 4 bp × 2 orders: −$8
Net: $38.09
Costs to cover: 0.217%
Break-even: from the start

Slippage from edgeX: live order book, 1 min ago; Bullet: live order book, 21 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 edgeX live order book, 1 min ago	0.37 bp	5.0 bp −$5	10.5 bp −$105	doesn't fit	doesn't fit
Sell Bullet live order book, 21 min ago	0.40 bp	5.7 bp −$6	10.6 bp −$106	doesn't fit	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	−0.3442%	1h	1,479.6	−0.960%	$36K	$275K	12x	as long as short
Perpl ZEC	−0.0447%	43m	1,502.3	+0.560%	$62K	$303K	10x	as long as short
BloFin ZEC-USDT	−0.0148%	8h	1,504.3	+0.693%	$31.3M	$76.0M	75x	as long as short
Bulk ZEC-USD	−0.0108%	1h	1,495.7	+0.120%	$810K	$100K	10x	as long as short
Aftermath Perps ZECUSD	−0.0100%	1h	1,497.3	+0.226%	$48K	$58K	10x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,503.4	+0.633%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,503.9	+0.668%	$418K	$34K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,504.3	+0.696%	$1.5M	$4.4M	2.2x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,503.8	+0.658%	$5.4M	—	150x	as long as short
Kraken Futures PF_ZECUSD	+0.0012%	1h	1,504.5	+0.710%	$18.0M	$47.1M	25x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ZEC-USD.P	+0.0043%	1h	1,498	+0.273%	$408K	$555K	5x	as long as short
Orderly PERP_ZEC_USDC	+0.0083%	8h	1,503.7	+0.658%	$303K	$864K	20x	as long as short
01 Exchange ZECUSD	+0.0088%	1h	1,503.5	+0.644%	$8K	$6K	5x	as long as short
Phoenix ZEC	+0.0096%	1h	1,496	+0.140%	$4.8M	$1.4M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,503	+0.608%	$183K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0098%	8h	1,503.5	+0.641%	$12K	$891K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,503.7	+0.658%	$62K	$20K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,504.7	+0.723%	$3.1M	$7.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,504.6	+0.715%	$786.0M	$439.4M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,503.3	+0.627%	$14.1M	$30.9M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,503.8	+0.662%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,503.7	+0.653%	$703.5M	$2.30B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,503.3	+0.629%	$270.3M	$618.1M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,503.5	+0.643%	$183.9M	$1.34B	50x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,504	+0.675%	$56.9M	$185.6M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,503.8	+0.662%	$241.8M	$804.1M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,503.9	+0.671%	$103.2M	$56.4M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,503.8	+0.662%	$162.6M	$289.0M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,503.6	+0.651%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,495.2	+0.085%	$48.9M	$34.4M	—	as long as short
edgeX ZECUSDClong	+0.0100%	4h	1,493.9	long leg	$572K	$9.0M	20x
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,496.3	+0.159%	$3.1M	$510K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,494.6	+0.045%	$411K	$946K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,502.4	+0.567%	$56K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,503	+0.608%	$361K	$1.6M	10x	as long as short
Bullet ZEC-USDshort	+0.0100%	1h	1,503.7	+0.653%	$165K	$184K	20x
Derive ZEC-PERP	+0.0100%	1h	1,502.7	+0.588%	$459K	$469K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,506.1	+0.818%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,503.8	+0.663%	$254K	$3.4M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,502.1	+0.548%	$2.7M	$20.7M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,503.6	+0.646%	$4.0M	$4.9M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,503.9	+0.667%	$2.8M	$7.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,503.9	+0.671%	$43K	$151K	20x	as long as short
Lighter RH ZEC	+0.0112%	1h	1,504.9	+0.736%	$2.1M	$7.4M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0115%	1h	1,504.6	+0.718%	$687K	$1.4M	25x	as long as short
RISEx ZEC/USDC	+0.0128%	1h	1,503.5	+0.645%	$946K	$1.1M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0146% / S −0.0143%	1h	1,504	+0.673%	$334K	—	100x	as long as short
Lighter ZEC	+0.0208%	1h	1,505.1	+0.748%	$20.0M	$45.8M	20x	as long as short
Arcus ZEC-USD	+0.0403%	1h	1,504.3	+0.696%	$610K	$8.8M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0416%	1h	1,504.8	+0.731%	$3.7M	$9.8M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0524%	1h	1,504.3	+0.692%	$2.3M	$3.8M	15x	as long as short