Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0167%/8h= −18.3% APRpaid last 24h −0.014%

Price spread now: Bybit against Nado−0.167%49s7-day average −0.040% · 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—prices read too far apart to compare

costs, in and out, $10k−$220.220% of the position

Long on Nado Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.023%−$2 on $10k

Price spread, last 7 days+0.117%+$12 · spread now −0.167%, 7d avg −0.040%

Together, before fees+0.094%+ Points / potential airdropNado: Active · farm board+$9 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Bybit is 0.127% cheaper against Nado than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.040%). Swap the legs. The two prices were read 49 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	Nado ZEC-PERP	1,466.2	0.0100	pay 0.0012% / 1h	17m 42s	$2.5M	$6.8M	10x
Short	Bybit ZECUSDT	1,463.8	−0.0067	pay 0.0067% / 8h	1h 17m	$270.7M	$666.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Nado. 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 NadobpFee BybitbpOrdersPrice spread, now −0.167%Rate

Funding earned: −$35.08
Price spread: −0.167% → −0.040%: −$12.7
Slippage, 4 orders: −$3.96
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$69.75
Costs to cover: 0.220%
Break-even: never at this rate

Slippage from Nado: live order book, 6 min ago; Bybit: live order book, 1 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 Nado live order book, 6 min ago	0.14 bp	4.9 bp −$5	12.3 bp −$123	49.6 bp −$4,959	doesn't fit
Sell Bybit live order book, 1 min ago	0.03 bp	6.0 bp −$6	8.2 bp −$82	16.8 bp −$1,684	34.1 bp −$17.1K

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	1,465.3	−0.061%	$34K	$275K	12x	as long as short
Kraken Futures PF_ZECUSD	−0.0405%	1h	1,465	−0.082%	$17.8M	$44.6M	25x	as long as short
Ondo Perps ZEC-USD.P	−0.0244%	1h	1,463	−0.220%	$397K	$514K	5x	as long as short
BloFin ZEC-USDT	−0.0099%	8h	1,465.8	−0.029%	$29.2M	$75.5M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,465.9	−0.023%	$6K	$2K	10x	as long as short
Bybit ZECUSDTshort	−0.0067%	8h	1,463.8	−0.167%	$270.7M	$666.6M	75x
Variational Omni ZEC	−0.0030%	8h	1,462.2	−0.272%	$46.6M	$33.4M	—	as long as short
dYdX ZEC-USD	0.0000%	1h	1,465.6	−0.042%	$413K	$104K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,468.1	+0.126%	$887K	$5.6M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,465.5	−0.053%	$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	1,465.5	−0.049%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0012%	8h	1,464.9	−0.089%	$292K	$1.4M	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0037% / S +0.0009%	1h	1,465.2	−0.068%	$355K	—	100x	as long as short
Gate ZEC_USDT	+0.0042%	8h	1,464.6	−0.111%	$49.7M	$186.6M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0045%	8h	1,464.4	−0.125%	$176.8M	$1.34B	50x	as long as short
01 Exchange ZECUSD	+0.0064%	1h	1,465	−0.085%	$8K	$8K	5x	as long as short
Phoenix ZEC	+0.0075%	1h	1,465	−0.084%	$4.6M	$1.6M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0079%	1h	1,466	−0.018%	$596K	$1.3M	25x	as long as short
ApeX Omni ZECUSDT	+0.0084%	1h	1,463.5	−0.186%	$429K	$823K	50x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,465	−0.081%	$173K	$1.9M	50x	as long as short
Katana Perps ZEC-USD	+0.0096%	8h	1,465.5	−0.050%	$14K	$827K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,464.8	−0.099%	$60K	$39K	10x	as long as short
Nado ZEC-PERPlong	+0.0100%	1h	1,466.2	long leg	$2.5M	$6.8M	10x
Hyperliquid ZEC	+0.0100%	1h	1,466.3	+0.005%	$760.9M	$478.6M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,464.8	−0.101%	$15.6M	$32.7M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,465.5	−0.050%	$1.7M	$3.0M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,464.8	−0.099%	$675.4M	$2.47B	75x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,463.9	−0.156%	$903K	$27K	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,464.8	−0.099%	$222.4M	$867.1M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,465.2	−0.074%	$103.6M	$55.8M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,465	−0.087%	$162.5M	$304.3M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,464.7	−0.104%	—	$102.6M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,463	−0.221%	$511K	$9.5M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,464.2	−0.141%	$3.0M	$481K	10x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,463.9	−0.160%	$110K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,465	−0.084%	$344K	$1.9M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,464.9	−0.093%	$127K	$160K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,463.6	−0.179%	$447K	$502K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,467.3	+0.072%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,465	−0.081%	$222K	$4.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,465.7	−0.039%	$2.5M	$23.7M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,465.8	−0.032%	$3.8M	$5.3M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,465.1	−0.075%	$3.3M	$6.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,464.9	−0.091%	$37K	$366K	20x	as long as short
Lighter ZEC	+0.0128%	1h	1,466.3	+0.003%	$19.0M	$52.7M	20x	as long as short
Backpack ZEC_USDC_PERP	+0.0176%	1h	1,465.6	−0.040%	$2.3M	$3.7M	15x	as long as short
RISEx ZEC/USDC	+0.0190%	1h	1,465.8	−0.027%	$842K	$1.3M	10x	as long as short
Lighter RH ZEC	+0.0400%	1h	1,467.2	+0.068%	$2.0M	$8.3M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0424%	1h	1,468.2	+0.137%	$3.7M	$11.4M	50x	as long as short
Arcus ZEC-USD	+0.0444%	1h	1,466.6	+0.028%	$726K	$8.2M	10x	as long as short
Aftermath Perps ZECUSD	+0.0580%	1h	1,466	−0.015%	$41K	$34K	10x	as long as short