Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0048%/8h= +5.2% APRpaid last 24h +0.010%

Price spread now: Nado against OKX−0.073%49s7-day average +0.041% · 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−$200.199% of the position

Long on OKX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.041%+$4 on $10k

Price spread, last 7 days+0.117%+$12 · spread now −0.073%, 7d avg +0.041%

Together, before fees+0.158%+ Points / potential airdropNado: Active · farm board+$16 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.115% cheaper against OKX than usual: you would sell low and buy high (spread −0.073% now, against its 7-day average of +0.041%). If the spread goes back, that is −$11 on $10k: about 8.0 days of funding at the current rate (+$1 a day). 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	OKX ZEC-USDT-SWAP	1,463.6	0.0052	pay 0.0052% / 8h	1h 48m	$175.4M	$1.36B	50x
Short	Nado ZEC-PERP	1,462.6	0.0100	get 0.0012% / 1h	48m 46s	$2.5M	$7.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.073%Rate

Funding earned: $10.04
Price spread: −0.073% → +0.041%: −$11.46
Slippage, 4 orders: −$2.93
Fee OKX: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$21.35
Costs to cover: 0.199%
Break-even: 21.9 days

Slippage from OKX: live order book, 5 min ago; Nado: live order book, 5 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, 5 min ago	0.03 bp	5.0 bp −$5	8.5 bp −$85	20.9 bp −$2,090	doesn't fit
Sell Nado live order book, 5 min ago	0.03 bp	4.9 bp −$5	11.2 bp −$112	42.1 bp −$4,209	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	−0.3310%	1h	1,462.9	−0.047%	$34K	$275K	12x	as long as short
Kraken Futures PF_ZECUSD	−0.0405%	1h	1,463.2	−0.032%	$17.8M	$44.7M	25x	as long as short
BloFin ZEC-USDT	−0.0098%	8h	1,463.6	0.000%	$29.2M	$75.4M	75x	as long as short
Ondo Perps ZEC-USD.P	−0.0093%	1h	1,459.3	−0.296%	$397K	$518K	5x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,462.5	−0.074%	$6K	$2K	10x	as long as short
Bybit ZECUSDT	−0.0045%	8h	1,463.2	−0.032%	$270.4M	$675.9M	75x	as long as short
Variational Omni ZEC	−0.0023%	8h	1,459.1	−0.307%	$46.4M	$34.1M	—	as long as short
ApeX Omni ZECUSDT	−0.0002%	1h	1,461.6	−0.142%	$429K	$817K	50x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,464.2	+0.040%	$412K	$106K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,462.9	−0.048%	$889K	$5.7M	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	1,462.2	−0.100%	$83K	$404K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,463.3	−0.020%	$5.2M	—	150x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0009% / S +0.0078%	1h	1,463.1	−0.034%	$559K	—	100x	as long as short
Orderly PERP_ZEC_USDC	+0.0015%	8h	1,462.9	−0.048%	$293K	$1.5M	20x	as long as short
OKX ZEC-USDT-SWAPlong	+0.0052%	8h	1,463.6	long leg	$175.4M	$1.36B	50x
Bulk ZEC-USD	+0.0054%	1h	1,460.6	−0.209%	$899K	$25K	10x	as long as short
01 Exchange ZECUSD	+0.0056%	1h	1,463.6	0.000%	$8K	$8K	5x	as long as short
Gate ZEC_USDT	+0.0059%	8h	1,464	+0.023%	$49.7M	$183.9M	75x	as long as short
Phoenix ZEC	+0.0075%	1h	1,459.6	−0.274%	$4.6M	$1.6M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0082%	1h	1,463.7	+0.008%	$596K	$1.3M	25x	as long as short
Katana Perps ZEC-USD	+0.0096%	8h	1,463.1	−0.034%	$14K	$864K	10x	as long as short
Lighter ZEC	+0.0096%	1h	1,465.5	+0.130%	$18.9M	$52.3M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,462.8	−0.054%	$174K	$1.9M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,462.2	−0.095%	$60K	$39K	10x	as long as short
Nado ZEC-PERPshort	+0.0100%	1h	1,462.6	−0.073%	$2.5M	$7.0M	10x
Hyperliquid ZEC	+0.0100%	1h	1,464.9	+0.087%	$758.9M	$489.8M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,463.8	+0.012%	$15.4M	$33.6M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,464.5	+0.059%	$1.7M	$3.0M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,464.1	+0.029%	$671.5M	$2.52B	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,463.9	+0.017%	$219.9M	$852.8M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,464.2	+0.038%	$103.2M	$56.8M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,464	+0.023%	$162.3M	$309.0M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,463.8	+0.014%	—	$104.0M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,459.8	−0.259%	$509K	$9.5M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,458.9	−0.323%	$3.0M	$492K	10x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,458.6	−0.341%	$109K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,463	−0.043%	$344K	$2.0M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,462.9	−0.051%	$127K	$160K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,461.4	−0.150%	$446K	$502K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,465.2	+0.107%	$4K	$1.3M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,463.1	−0.038%	$222K	$4.6M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,463	−0.043%	$2.4M	$24.1M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,463.5	−0.006%	$3.8M	$5.4M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,464.6	+0.066%	$3.2M	$7.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,463.2	−0.033%	$36K	$367K	20x	as long as short
RISEx ZEC/USDC	+0.0190%	1h	1,463.5	−0.011%	$843K	$1.8M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0214%	1h	1,464.5	+0.060%	$2.3M	$4.0M	15x	as long as short
Lighter RH ZEC	+0.0400%	1h	1,466	+0.161%	$2.0M	$8.2M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0424%	1h	1,465.4	+0.121%	$3.7M	$11.7M	50x	as long as short
Arcus ZEC-USD	+0.0444%	1h	1,463.8	+0.012%	$742K	$8.1M	10x	as long as short
Aftermath Perps ZECUSD	+0.0518%	1h	1,463.3	−0.021%	$40K	$34K	10x	as long as short