Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0075%/8h= +8.2% APRpaid last 24h +0.025%

Price spread now: Katana Perps against Ondo Perps+0.072%7-day average +0.044% · you sell dearer than you buy

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

Long on Ondo Perps Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.019%+$2 on $10k

Price spread, last 4 days (all we have)+0.053%+$5 · spread now +0.072%, 7d avg +0.044%

Together, before fees+0.072%+ Points / potential airdropOndo Perps: Active · farm board+$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Katana Perps is 0.028% dearer against Ondo Perps than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.044%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps ZEC-USD.P	1,494	0.0023	pay 0.0003% / 1h	35m 29s	$408K	$560K	5x
Short	Katana Perps ZEC-USD	1,495.1	0.0098	get 0.0098% / 8h	35m 29s	$16K	$878K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps against Ondo Perps. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Ondo PerpsbpFee Katana PerpsbpOrdersPrice spread, now +0.072%Rate

Funding earned: $15.66
Price spread: +0.072% → +0.044%: $2.81
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: $9.67
Costs to cover: 0.088%
Break-even: 2.7 days

Slippage unknown: Ondo Perps: no order-book sample; Katana Perps: no order-book sample. 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Katana Perps no order-book sample	—	—	—	—	—

Ondo Perps and 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	−0.3442%	1h	1,504.2	+0.681%	$37K	$275K	12x	as long as short
Perpl ZEC	−0.0447%	43m	1,492	−0.133%	$61K	$304K	10x	as long as short
BloFin ZEC-USDT	−0.0153%	8h	1,495.9	+0.126%	$30.8M	$75.6M	75x	as long as short
Aftermath Perps ZECUSD	−0.0081%	1h	1,500	+0.400%	$48K	$59K	10x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,495.4	+0.094%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,496	+0.134%	$416K	$35K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,497.4	+0.230%	$1.5M	$4.4M	2.2x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,496.6	+0.175%	$5.3M	—	150x	as long as short
Kraken Futures PF_ZECUSD	+0.0012%	1h	1,497.2	+0.212%	$18.0M	$47.2M	25x	as long as short
Bulk ZEC-USD	+0.0021%	1h	1,505.9	+0.796%	$910K	$2K	10x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ZEC-USD.Plong	+0.0023%	1h	1,494	long leg	$408K	$560K	5x
Deribit ZEC_USDC-PERPETUAL	+0.0066%	1h	1,497.4	+0.226%	$684K	$1.4M	25x	as long as short
Orderly PERP_ZEC_USDC	+0.0083%	8h	1,496.6	+0.171%	$301K	$1.1M	20x	as long as short
Phoenix ZEC	+0.0096%	1h	1,498.3	+0.287%	$4.8M	$1.4M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,494.5	+0.033%	$175K	$1.8M	50x	as long as short
Katana Perps ZEC-USDshort	+0.0098%	8h	1,495.1	+0.072%	$16K	$878K	10x
Paradex ZEC-USD-PERP	+0.0100%	8h	1,495.3	+0.086%	$62K	$28K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,493.4	−0.041%	$3.1M	$7.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,495.6	+0.107%	$781.3M	$444.5M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,494.2	+0.015%	$14.0M	$31.1M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,495.9	+0.126%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,494.7	+0.045%	$699.6M	$2.31B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,494.1	+0.006%	$268.5M	$623.4M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,492.2	−0.118%	$183.7M	$1.34B	50x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,495.2	+0.082%	$56.0M	$183.9M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,495.4	+0.092%	$237.0M	$796.6M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,495.8	+0.119%	$102.9M	$57.2M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,492.7	−0.089%	$161.2M	$290.1M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,495.3	+0.088%	—	$118.3M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,495.9	+0.125%	$48.8M	$34.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,496.6	+0.173%	$573K	$9.0M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,503.3	+0.623%	$3.1M	$507K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,495.2	+0.081%	$412K	$947K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,496	+0.131%	$56K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,494.2	+0.013%	$357K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,496.5	+0.170%	$164K	$184K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,495.4	+0.092%	$457K	$489K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,499	+0.335%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,496.5	+0.168%	$253K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,495.6	+0.104%	$2.7M	$20.7M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,496.6	+0.172%	$4.0M	$4.9M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,495.4	+0.096%	$2.8M	$7.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,496.7	+0.183%	$43K	$151K	20x	as long as short
01 Exchange ZECUSD	+0.0112%	1h	1,495	+0.068%	$8K	$6K	5x	as long as short
Lighter RH ZEC	+0.0120%	1h	1,497.1	+0.207%	$2.1M	$7.4M	10x	as long as short
RISEx ZEC/USDC	+0.0128%	1h	1,495.1	+0.071%	$941K	$1.1M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0146% / S −0.0154%	1h	1,496.5	+0.170%	$360K	—	100x	as long as short
Lighter ZEC	+0.0200%	1h	1,497.2	+0.213%	$19.8M	$45.5M	20x	as long as short
Arcus ZEC-USD	+0.0403%	1h	1,496	+0.131%	$612K	$8.8M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0416%	1h	1,497.9	+0.262%	$3.7M	$10.1M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0552%	1h	1,496.8	+0.189%	$2.3M	$3.9M	15x	as long as short