Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.016%

Price spread now: Backpack against Katana Perps+0.048%7-day average +0.423% · you sell dearer than you buy

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

Long on Katana Perps Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.038%+$4 on $10k

Price spread, last 7 days−0.534%−$53 · spread now +0.048%, 7d avg +0.423%

Together, before fees−0.496%−$50 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: Backpack is 0.375% cheaper against Katana Perps than usual: you would sell low and buy high, −$38 on $10k if it goes back to its 7-day average of +0.423%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps ZEC-USD	1,460.6	0.0100	pay 0.0100% / 8h	4h 24m	$11K	$856K	10x
Short	Backpack ZEC_USDC_PERP	1,461.3	0.0100	get 0.0013% / 1h	24m 29s	$2.4M	$3.8M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Katana Perps. 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 Katana PerpsbpFee BackpackbpOrdersPrice spread, now +0.048%Rate

Funding earned: $0.04
Price spread: +0.048% → +0.423%: −$37.54
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$51.3
Costs to cover: 0.138%
Break-even: 8149.7 days

Slippage unknown: Katana Perps: no order-book sample; Backpack: live order book, 5 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 Katana Perps no order-book sample	—	—	—	—	—
Sell Backpack live order book, 5 min ago	0.03 bp	5.7 bp −$6	11.9 bp −$119	doesn't fit	doesn't fit

Katana Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.3166%	1h	1,460.6	+0.004%	$34K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,460.9	+0.025%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0069%	8h	1,460.7	+0.007%	$29.3M	$71.1M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,460.1	−0.033%	$411K	$38K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,462.3	+0.115%	$1.5M	$4.5M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,460.8	+0.014%	$84K	$240K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,460.8	+0.017%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0063%	8h	1,460.9	+0.020%	$292K	$956K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0068% / S −0.0019%	1h	1,460.7	+0.011%	$410K	—	100x	as long as short
01 Exchange ZECUSD	+0.0080%	1h	1,460.9	+0.021%	$8K	$7K	5x	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	1,460.6	−0.001%	$173K	$1.7M	50x	as long as short
Katana Perps ZEC-USDlong	+0.0100%	8h	1,460.6	long leg	$11K	$856K	10x
Paradex ZEC-USD-PERP	+0.0100%	8h	1,460.5	−0.008%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,460.6	+0.002%	$2.8M	$6.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,462	+0.098%	$759.9M	$431.5M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,460.8	+0.013%	$14.5M	$27.9M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,460.8	+0.015%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,461	+0.028%	$671.3M	$2.21B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,460.6	+0.004%	$263.6M	$600.8M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,460.9	+0.019%	$178.2M	$1.23B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,455.7	−0.333%	$396K	$441K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,457.2	−0.229%	$880K	$18K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,460.9	+0.021%	$50.7M	$174.3M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,460.9	+0.022%	$217.0M	$772.8M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,461	+0.027%	$102.6M	$53.9M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,460.8	+0.015%	$166.3M	$271.0M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,460.7	+0.010%	—	$103.4M	—	as long as short
Backpack ZEC_USDC_PERPshort	+0.0100%	1h	1,461.3	+0.048%	$2.4M	$3.8M	15x
Variational Omni ZEC	+0.0100%	8h	1,457.9	−0.184%	$47.8M	$32.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,455.8	−0.328%	$567K	$8.6M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,457.4	−0.220%	$3.0M	$437K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,457	−0.246%	$406K	$927K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,460.7	+0.009%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,460.6	+0.002%	$367K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,460.7	+0.012%	$161K	$185K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,459.8	−0.056%	$446K	$521K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,462.9	+0.162%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,460.8	+0.014%	$234K	$3.4M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,459.7	−0.060%	$2.7M	$18.3M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,460.2	−0.023%	$3.8M	$5.1M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,460.4	−0.014%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,461.1	+0.034%	$47K	$151K	20x	as long as short
Phoenix ZEC	+0.0123%	1h	1,458.1	−0.168%	$4.6M	$1.3M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0231%	1h	1,461.5	+0.063%	$611K	$1.3M	25x	as long as short
Kraken Futures PF_ZECUSD	+0.0276%	1h	1,460.6	+0.005%	$18.1M	$45.0M	25x	as long as short
Lighter ZEC	+0.0288%	1h	1,461.8	+0.084%	$19.2M	$45.9M	20x	as long as short
RISEx ZEC/USDC	+0.0412%	1h	1,460.7	+0.007%	$924K	$1.1M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0448%	1h	1,462.1	+0.104%	$3.8M	$9.0M	50x	as long as short
Lighter RH ZEC	+0.0456%	1h	1,461.8	+0.086%	$2.1M	$7.0M	10x	as long as short
Arcus ZEC-USD	+0.0626%	1h	1,461.7	+0.077%	$688K	$8.3M	10x	as long as short
Aftermath Perps ZECUSD	+0.0682%	1h	1,458.1	−0.172%	$45K	$49K	10x	as long as short