Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:07 UTC+0.0547%/8h= +59.8% APRpaid last 24h +0.032%

Price spread now: Nado against Perpl+0.018%7-day average +0.086% · you sell dearer than you buy

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

Long on Perpl Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.219%+$22 on $10k

Price spread, last 4 days (all we have)−0.014%−$1 · spread now +0.018%, 7d avg +0.086%

Together, before fees+0.205%+ Points / potential airdropPerpl: Active · Nado: Active · farm board+$21 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.068% cheaper against Perpl than usual: you would sell low and buy high (spread +0.018% now, against its 7-day average of +0.086%). If the spread goes back, that is −$7 on $10k: about 10 hours of funding at the current rate (+$16 a day). At the pace of the last 4 days (+0.219% in total) that is about 26 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Perpl ZEC	1,504.7	−0.0447	get 0.0040% / 43m	41m 45s	$62K	$305K	10x
Short	Nado ZEC-PERP	1,505	0.0100	get 0.0012% / 1h	26m 45s	$3.1M	$7.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Perpl. 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 PerplbpFee NadobpOrdersPrice spread, now +0.018%Rate

Funding earned: $114.77
Price spread: +0.018% → +0.086%: −$6.78
Slippage, 4 orders: no order book: not counted
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $87.19
Costs to cover: 0.208%
Break-even: 1.7 days

Slippage unknown: Perpl: no order-book sample; Nado: live order book, 2 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 Perpl no order-book sample	—	—	—	—	—
Sell Nado live order book, 2 min ago	0.17 bp	5.4 bp −$5	8.8 bp −$88	38.0 bp −$3,800	doesn't fit

Perpl: 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	−0.3702%	1h	1,491.4	−0.883%	$36K	$275K	12x	as long as short
Perpl ZEClong	−0.0447%	43m	1,504.7	long leg	$62K	$305K	10x
Aftermath Perps ZECUSD	−0.0211%	1h	1,505.1	+0.026%	$48K	$58K	10x	as long as short
BloFin ZEC-USDT	−0.0160%	8h	1,505.1	+0.025%	$31.8M	$76.5M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,503.8	−0.057%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,503.7	−0.067%	$418K	$34K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,505.3	+0.037%	$1.6M	$5.0M	2.2x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,501.9	−0.187%	$5.3M	—	150x	as long as short
Kraken Futures PF_ZECUSD	+0.0019%	1h	1,505.9	+0.083%	$18.3M	$47.7M	25x	as long as short
01 Exchange ZECUSD	+0.0032%	1h	1,504.5	−0.016%	$8K	$6K	5x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix ZEC	+0.0082%	1h	1,504.2	−0.035%	$4.8M	$1.4M	10x	as long as short
Orderly PERP_ZEC_USDC	+0.0084%	8h	1,505.9	+0.080%	$304K	$860K	20x	as long as short
Lighter ZEC	+0.0096%	1h	1,504.6	−0.009%	$19.5M	$45.1M	20x	as long as short
Lighter RH ZEC	+0.0096%	1h	1,504.8	+0.009%	$2.1M	$7.5M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,504.6	−0.009%	$172K	$1.8M	50x	as long as short
Gate ZEC_USDT	+0.0097%	8h	1,503.4	−0.084%	$60.6M	$186.1M	75x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,504.4	−0.020%	$62K	$16K	10x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,504.2	−0.037%	$16K	$898K	10x	as long as short
Nado ZEC-PERPshort	+0.0100%	1h	1,505	+0.018%	$3.1M	$7.6M	10x
Hyperliquid ZEC	+0.0100%	1h	1,503.7	−0.068%	$786.5M	$447.4M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,503.1	−0.108%	$14.1M	$30.4M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,504.5	−0.016%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,503.4	−0.084%	$709.3M	$2.33B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,502.9	−0.122%	$269.3M	$617.4M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,503.2	−0.101%	$184.7M	$1.37B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,504.9	+0.013%	$408K	$558K	5x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,505.2	+0.036%	$608K	$9.0M	10x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,503.8	−0.062%	$774K	$147K	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,503.6	−0.075%	$405.5M	$836.6M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,503.7	−0.068%	$102.8M	$57.3M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,503.3	−0.092%	$162.6M	$295.2M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,503.3	−0.096%	—	$120.2M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,502.5	−0.143%	$49.7M	$36.0M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,503.3	−0.094%	$554K	$9.2M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,502.7	−0.130%	$3.1M	$533K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,503.6	−0.076%	$413K	$952K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,502.6	−0.142%	$50K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,505.7	+0.066%	$374K	$1.6M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,506.6	+0.126%	$168K	$192K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,502	−0.178%	$449K	$419K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,508.4	+0.243%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,505.6	+0.061%	$255K	$3.6M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,504.7	−0.001%	$2.7M	$21.1M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,505.9	+0.078%	$4.0M	$4.9M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,503.4	−0.089%	$2.8M	$8.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,505.7	+0.069%	$45K	$153K	20x	as long as short
RISEx ZEC/USDC	+0.0157%	1h	1,502.3	−0.157%	$994K	$1.1M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0161% / S −0.0165%	1h	1,506.8	+0.142%	$334K	—	100x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0238%	1h	1,506.8	+0.141%	$690K	$1.4M	25x	as long as short
Backpack ZEC_USDC_PERP	+0.0240%	1h	1,505.2	+0.035%	$2.4M	$3.8M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0368%	1h	1,507.6	+0.192%	$3.8M	$10.1M	50x	as long as short