Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h +0.033%

Price spread now: Variational Omni against Kraken Futures+0.283%7-day average −0.092% · you sell dearer than you buy

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

Long on Kraken Futures Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.071%+$7 on $10k

Price spread, last 4 days (all we have)−1.188%−$119 · spread now +0.283%, 7d avg −0.092%

Together, before fees−1.117%+ Points / potential airdropVariational Omni: Active · farm board−$112 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.375% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.283% now, against its 7-day average of −0.092%): +$38 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 13 days. Mind the row above: over the last 3 days funding on this pair paid +0.071%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ZECUSD	1,452.3	0.0196	pay 0.0025% / 1h	7m 44s	$18.0M	$44.7M	25x
Short	Variational Omni ZEC	1,456.4	0.0100	get 0.0100% / 8h	5h 07m	$47.6M	$32.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Kraken Futures. 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 Kraken FuturesbpFee Variational OmnibpOrdersPrice spread, now +0.283%Rate

Funding earned: −$20.19
Price spread: +0.283% → −0.092%: $37.52
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $7.32
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Kraken Futures: live order book, 1 min ago; Variational Omni: RFQ quote, 1 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 Kraken Futures live order book, 1 min ago	2.75 bp	8.0 bp −$8	10.4 bp −$104	19.9 bp −$1,986	102.6 bp −$51.3K
Sell Variational Omni RFQ quote, 1 min ago	2.75 bp	doesn't fit	7.5 bp −$75	15.5 bp −$1,549	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	−0.3244%	1h	1,455.6	+0.226%	$34K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,453.9	+0.111%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0078%	8h	1,453	+0.053%	$29.3M	$70.6M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,452.5	+0.014%	$409K	$42K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,453.3	+0.069%	$1.5M	$4.5M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,452.3	+0.005%	$83K	$241K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,452.6	+0.019%	$5.1M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0053%	8h	1,452.2	−0.002%	$291K	$966K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0061% / S −0.0011%	1h	1,452.3	+0.001%	$408K	—	100x	as long as short
Phoenix ZEC	+0.0074%	1h	1,455	+0.186%	$4.6M	$1.4M	10x	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	1,452.5	+0.018%	$173K	$1.7M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,452.6	+0.022%	$12K	$868K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,452.9	+0.042%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,453.6	+0.090%	$2.6M	$6.3M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,453	+0.050%	$755.0M	$433.6M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,452.2	−0.008%	$14.5M	$28.0M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,452.8	+0.034%	$1.6M	$2.5M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,452.6	+0.022%	$665.1M	$2.22B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,452.2	−0.008%	$262.4M	$606.4M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,452.7	+0.029%	$177.6M	$1.22B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,455.3	+0.208%	$396K	$432K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,457.5	+0.356%	$883K	$21K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,452	−0.020%	$50.0M	$175.5M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,452.6	+0.022%	$213.7M	$781.2M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,452.7	+0.029%	$101.8M	$55.4M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,452.8	+0.036%	$161.4M	$273.3M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,451.8	−0.034%	—	$6.7M	—	as long as short
Variational Omni ZECshort	+0.0100%	8h	1,456.4	+0.283%	$47.6M	$32.8M	—
edgeX ZECUSDC	+0.0100%	4h	1,457.1	+0.330%	$568K	$8.7M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,457.6	+0.364%	$3.0M	$432K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,456.2	+0.269%	$410K	$911K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,458	+0.397%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,452.3	+0.002%	$367K	$1.9M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,452.5	+0.018%	$160K	$185K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,451.4	−0.062%	$443K	$521K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,456.4	+0.281%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,452.4	+0.009%	$232K	$3.4M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,453.3	+0.072%	$2.7M	$18.1M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,452.9	+0.041%	$3.8M	$5.1M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0104%	1h	1,453	+0.051%	$2.4M	$3.8M	15x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,451.7	−0.039%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,452.2	−0.006%	$47K	$153K	20x	as long as short
01 Exchange ZECUSD	+0.0136%	1h	1,452.6	+0.023%	$8K	$7K	5x	as long as short
Kraken Futures PF_ZECUSDlong	+0.0196%	1h	1,452.3	long leg	$18.0M	$44.7M	25x
Lighter ZEC	+0.0232%	1h	1,453.9	+0.112%	$19.0M	$46.8M	20x	as long as short
Arcus ZEC-USD	+0.0277%	1h	1,454.5	+0.150%	$720K	$8.5M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0311%	1h	1,453.1	+0.055%	$611K	$1.3M	25x	as long as short
Lighter RH ZEC	+0.0360%	1h	1,453.8	+0.104%	$2.0M	$6.9M	10x	as long as short
RISEx ZEC/USDC	+0.0409%	1h	1,453.4	+0.079%	$831K	$1.0M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0456%	1h	1,452.8	+0.037%	$3.7M	$9.1M	50x	as long as short
Aftermath Perps ZECUSD	+0.0690%	1h	1,456.6	+0.298%	$45K	$49K	10x	as long as short