Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0211%/8h= +23.1% APRpaid last 24h +0.015%

Price spread now: Deribit against OKX+0.102%7-day average +0.074% · you sell dearer than you buy

Net, funding: paid 7d − costs−$9as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$280.279% of the position

Long on OKX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.185%+$18 on $10k

Price spread, last 4 days (all we have)+0.437%+$44 · spread now +0.102%, 7d avg +0.074%

Together, before fees+0.621%+$62 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Deribit is 0.028% dearer against OKX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.074%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ZEC-USDT-SWAP	1,456.8	0.0100	pay 0.0100% / 8h	3h 22m	$178.6M	$1.21B	50x
Short	Deribit ZEC_USDC-PERPETUAL	1,458.2	0.0311	get 0.0039% / 1h	22m 53s	$614K	$1.3M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against OKX. 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 OKXbpFee DeribitbpOrdersPrice spread, now +0.102%Rate

Funding earned: $44.39
Price spread: +0.102% → +0.074%: $2.78
Slippage, 4 orders: −$10.9
Fee OKX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $19.26
Costs to cover: 0.279%
Break-even: 4.0 days

Slippage from OKX: live order book, 1 min ago; Deribit: 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 OKX live order book, 1 min ago	0.03 bp	6.5 bp −$7	9.2 bp −$92	16.4 bp −$1,635	doesn't fit
Sell Deribit live order book, 1 min ago	4.35 bp	7.9 bp −$8	14.3 bp −$143	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	−0.3042%	1h	1,458	+0.084%	$34K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,456.4	−0.024%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0071%	8h	1,457.1	+0.024%	$29.4M	$70.6M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,457.7	+0.062%	$410K	$36K	5x	as long as short
Perpl ZEC	0.0000%	43m	1,458.1	+0.091%	$83K	$239K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,457.6	+0.059%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0063%	8h	1,457.2	+0.033%	$291K	$942K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0085% / S −0.0035%	1h	1,457.5	+0.053%	$435K	—	100x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,458	+0.084%	$174K	$1.7M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,458.3	+0.102%	$14K	$818K	10x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex ZEC-USD-PERP	+0.0100%	8h	1,458.2	+0.099%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,458.7	+0.131%	$2.8M	$6.6M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,457.4	+0.042%	$14.5M	$27.9M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,458.4	+0.112%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,457.3	+0.039%	$670.7M	$2.19B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,456.6	−0.010%	$260.9M	$597.8M	75x	as long as short
OKX ZEC-USDT-SWAPlong	+0.0100%	8h	1,456.8	long leg	$178.6M	$1.21B	50x
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,456.9	+0.010%	$395K	$434K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,457.9	+0.078%	$881K	$17K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,457	+0.013%	$51.4M	$171.8M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,456.8	+0.004%	$219.0M	$770.9M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,457.3	+0.037%	$102.8M	$53.4M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,457.1	+0.021%	$165.8M	$269.4M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,457.1	+0.020%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,455.5	−0.090%	$47.7M	$32.8M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,456.2	−0.040%	$567K	$8.5M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,456.6	−0.014%	$3.0M	$463K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,456.4	−0.023%	$402K	$943K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,456.3	−0.034%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,457.7	+0.065%	$354K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,457.6	+0.056%	$160K	$185K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,456.3	−0.028%	$445K	$509K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,460.3	+0.244%	$4K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,457.4	+0.041%	$233K	$3.2M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,456.6	−0.010%	$2.7M	$18.4M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,457.8	+0.073%	$3.8M	$4.9M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,456.7	−0.004%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,457.2	+0.027%	$47K	$151K	20x	as long as short
Lighter RH ZEC	+0.0112%	1h	1,458.7	+0.130%	$2.1M	$7.0M	10x	as long as short
Phoenix ZEC	+0.0116%	1h	1,457.6	+0.054%	$4.6M	$1.3M	10x	as long as short
01 Exchange ZECUSD	+0.0128%	1h	1,458.4	+0.113%	$8K	$7K	5x	as long as short
Hyperliquid ZEC	+0.0142%	1h	1,458.4	+0.113%	$759.4M	$424.2M	10x	as long as short
Lighter ZEC	+0.0144%	1h	1,458.8	+0.142%	$19.3M	$45.2M	20x	as long as short
Kalshi KXZECPERP	+0.0178%	8h	1,459.5	+0.189%	$1.5M	$4.4M	2.2x	as long as short
Backpack ZEC_USDC_PERP	+0.0199%	1h	1,457.8	+0.069%	$2.4M	$3.8M	15x	as long as short
RISEx ZEC/USDC	+0.0216%	1h	1,458.1	+0.089%	$922K	$1.1M	10x	as long as short
Deribit ZEC_USDC-PERPETUALshort	+0.0311%	1h	1,458.2	+0.102%	$614K	$1.3M	25x
Kraken Futures PF_ZECUSD	+0.0333%	1h	1,457.2	+0.028%	$18.1M	$45.2M	25x	as long as short
Arcus ZEC-USD	+0.0344%	1h	1,459.5	+0.187%	$697K	$8.1M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0464%	1h	1,460.6	+0.264%	$3.8M	$9.2M	50x	as long as short
Aftermath Perps ZECUSD	+0.0678%	1h	1,457.1	+0.023%	$45K	$49K	10x	as long as short