Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0058%/8h= +6.4% APRpaid last 24h −0.010%

Price spread now: Bulk against Gate−0.137%7-day average −0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$270.269% of the position

Long on Gate Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.013%+$1 on $10k

Price spread, last 4 days (all we have)+0.114%+$11 · spread now −0.137%, 7d avg −0.023%

Together, before fees+0.127%+$13 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bulk is 0.114% cheaper against Gate than usual: you would sell low and buy high (spread −0.137% now, against its 7-day average of −0.023%). If the spread goes back, that is −$11 on $10k: about 6.6 days of funding at the current rate (+$2 a day). At the pace of the last 3 days (+0.013% in total) that is about 30 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ZEC_USDT	1,473.1	0.0042	pay 0.0042% / 8h	52m 17s	$50.7M	$184.1M	75x
Short	Bulk ZEC-USD	1,471.1	0.0100	get 0.0013% / 1h	52m 17s	$908K	$26K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Gate. 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 GatebpFee BulkbpOrdersPrice spread, now −0.137%Rate

Funding earned: $12.18
Price spread: −0.137% → −0.023%: −$11.41
Slippage, 4 orders: −$4.95
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$26.18
Costs to cover: 0.269%
Break-even: 22.0 days

Slippage from Gate: live order book, 2 min ago; Bulk: live order book, 27 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 Gate live order book, 2 min ago	0.34 bp	10.7 bp −$11	17.3 bp −$173	31.1 bp −$3,110	55.5 bp −$27.8K
Sell Bulk live order book, 27 min ago	0.03 bp	3.5 bp −$4	3.5 bp −$35	4.0 bp −$402	6.6 bp −$3,297

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	−0.3089%	1h	1,475.9	+0.185%	$34K	$275K	12x	as long as short
ApeX Omni ZECUSDT	−0.0365%	1h	1,474	+0.060%	$432K	$827K	50x	as long as short
Ondo Perps ZEC-USD.P	−0.0334%	1h	1,473.5	+0.024%	$400K	$517K	5x	as long as short
Kraken Futures PF_ZECUSD	−0.0225%	1h	1,472.5	−0.042%	$17.9M	$44.6M	25x	as long as short
BloFin ZEC-USDT	−0.0111%	8h	1,474.5	+0.093%	$29.5M	$75.7M	75x	as long as short
Bybit ZECUSDT	−0.0087%	8h	1,471.8	−0.090%	$273.2M	$661.6M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,474.2	+0.069%	$6K	$2K	10x	as long as short
Variational Omni ZEC	−0.0037%	8h	1,473.4	+0.019%	$47.0M	$33.5M	—	as long as short
dYdX ZEC-USD	0.0000%	1h	1,473.7	+0.041%	$415K	$104K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,476.4	+0.224%	$901K	$5.6M	2.2x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl ZEC	0.0000%	43m	1,473.3	+0.012%	$84K	$404K	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	0.0000%	1h	1,473.4	+0.017%	$615K	$1.3M	25x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,473.3	+0.012%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0010%	8h	1,472.6	−0.037%	$294K	$1.4M	20x	as long as short
Phoenix ZEC	+0.0024%	1h	1,475.6	+0.168%	$4.7M	$1.6M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0038% / S +0.0009%	1h	1,473.1	0.000%	$366K	—	100x	as long as short
OKX ZEC-USDT-SWAP	+0.0039%	8h	1,472.1	−0.073%	$180.3M	$1.35B	50x	as long as short
Gate ZEC_USDTlong	+0.0042%	8h	1,473.1	long leg	$50.7M	$184.1M	75x
01 Exchange ZECUSD	+0.0048%	1h	1,473.9	+0.049%	$8K	$8K	5x	as long as short
SoDEX ZEC-USD	+0.0068%	1h	1,472.3	−0.060%	$226K	$4.5M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,473.2	+0.003%	$176K	$1.9M	50x	as long as short
Katana Perps ZEC-USD	+0.0097%	8h	1,474.1	+0.064%	$12K	$828K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,473.8	+0.044%	$61K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,474.3	+0.080%	$2.6M	$6.8M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,474.5	+0.089%	$765.2M	$473.6M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,473.4	+0.016%	$15.6M	$32.7M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,474.2	+0.074%	$1.7M	$2.9M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,472.9	−0.014%	$681.5M	$2.46B	75x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,475	+0.125%	$714K	$8.3M	10x	as long as short
Bulk ZEC-USDshort	+0.0100%	1h	1,471.1	−0.137%	$908K	$26K	10x
MEXC ZEC_USDT	+0.0100%	8h	1,472.9	−0.017%	$222.9M	$830.1M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,473.3	+0.008%	$104.2M	$56.0M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,472.6	−0.037%	$162.6M	$303.0M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,473.6	+0.032%	—	$102.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,474.3	+0.079%	$513K	$9.3M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,475.5	+0.162%	$3.0M	$466K	10x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,475.5	+0.163%	$110K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,473.1	−0.003%	$347K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,472.9	−0.019%	$128K	$159K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,470.9	−0.149%	$448K	$503K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,474.8	+0.114%	$3K	$1.2M	20x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,473.2	+0.003%	$2.5M	$23.2M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,474.8	+0.115%	$3.9M	$5.3M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,472.9	−0.014%	$3.3M	$6.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,472.3	−0.060%	$37K	$366K	20x	as long as short
RISEx ZEC/USDC	+0.0132%	1h	1,474.2	+0.074%	$836K	$1.2M	10x	as long as short
Lighter ZEC	+0.0144%	1h	1,475.5	+0.157%	$19.1M	$52.1M	20x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0432%	1h	1,476.8	+0.250%	$3.8M	$11.0M	50x	as long as short
Lighter RH ZEC	+0.0504%	1h	1,475.7	+0.174%	$2.0M	$8.2M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0552%	1h	1,475.6	+0.166%	$2.4M	$3.7M	15x	as long as short
Aftermath Perps ZECUSD	+0.0632%	1h	1,474.4	+0.088%	$46K	$47K	10x	as long as short