Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0015%/8h= −1.7% APRpaid last 24h −0.020%

Price spread now: Orderly against Polymarket Perps+0.074%7-day average +0.021% · you sell dearer than you buy

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

Long on Polymarket Perps Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.050%−$5 on $10k

Price spread, last 4 days (all we have)+1.385%+$139 · spread now +0.074%, 7d avg +0.021%

Together, before fees+1.335%+$133 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Orderly is 0.053% dearer against Polymarket Perps than usual: you sell high and buy low (spread +0.074% now, against its 7-day average of +0.021%): +$5 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 12 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps ZEC-USD	1,506.6	0.0100	pay 0.0013% / 1h	36m 00s	$374K	$1.7M	10x
Short	Orderly PERP_ZEC_USDC	1,507.7	0.0085	get 0.0085% / 8h	7h 36m	$304K	$861K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Polymarket Perps. 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 Polymarket PerpsbpFee OrderlybpOrdersPrice spread, now +0.074%Rate

Funding earned: −$3.18
Price spread: +0.074% → +0.021%: $5.28
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$11.9
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Polymarket Perps: live order book, 3 min ago; Orderly: 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 Polymarket Perps live order book, 3 min ago	295.41 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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	−1.008%	$36K	$275K	12x	as long as short
Perpl ZEC	−0.0447%	43m	1,505.7	−0.062%	$62K	$305K	10x	as long as short
Aftermath Perps ZECUSD	−0.0182%	1h	1,509.5	+0.192%	$48K	$58K	10x	as long as short
BloFin ZEC-USDT	−0.0149%	8h	1,507.2	+0.040%	$31.7M	$76.7M	75x	as long as short
Bulk ZEC-USD	−0.0098%	1h	1,506.5	−0.004%	$775K	$147K	10x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,506.7	+0.006%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,506.5	−0.008%	$418K	$34K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,508.1	+0.096%	$1.6M	$5.0M	2.2x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,507.3	+0.043%	$5.4M	—	150x	as long as short
Kraken Futures PF_ZECUSD	+0.0019%	1h	1,508.3	+0.110%	$18.3M	$47.6M	25x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange ZECUSD	+0.0032%	1h	1,506.6	+0.001%	$8K	$6K	5x	as long as short
Gate ZEC_USDT	+0.0067%	8h	1,507.5	+0.062%	$60.6M	$185.1M	75x	as long as short
ApeX Omni ZECUSDT	+0.0078%	1h	1,507.8	+0.082%	$414K	$952K	50x	as long as short
Phoenix ZEC	+0.0082%	1h	1,509.3	+0.176%	$4.8M	$1.4M	10x	as long as short
Orderly PERP_ZEC_USDCshort	+0.0085%	8h	1,507.7	+0.074%	$304K	$861K	20x
Lighter ZEC	+0.0096%	1h	1,508.6	+0.134%	$19.5M	$44.8M	20x	as long as short
Lighter RH ZEC	+0.0096%	1h	1,508.8	+0.149%	$2.1M	$7.5M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,506.4	−0.013%	$172K	$1.8M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,506.1	−0.035%	$62K	$18K	10x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,506	−0.042%	$16K	$898K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,506.4	−0.012%	$3.1M	$7.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,508.3	+0.113%	$789.7M	$445.7M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,507.2	+0.039%	$14.2M	$30.8M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,506.4	−0.014%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,507.3	+0.048%	$712.4M	$2.33B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,506.7	+0.007%	$270.3M	$624.9M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,507.3	+0.045%	$185.6M	$1.38B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,505.7	−0.060%	$411K	$544K	5x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,507	+0.028%	$611K	$9.0M	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,507.6	+0.066%	$407.2M	$833.5M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,507.3	+0.045%	$103.0M	$57.3M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,507.7	+0.070%	$163.1M	$295.5M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,507.1	+0.033%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,509.9	+0.218%	$50.1M	$36.0M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,508.2	+0.106%	$556K	$9.1M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,506.5	−0.004%	$3.1M	$533K	10x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,506.8	+0.010%	$50K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USDlong	+0.0100%	1h	1,506.6	long leg	$374K	$1.7M	10x
Bullet ZEC-USD	+0.0100%	1h	1,507.2	+0.041%	$169K	$194K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,506.3	−0.023%	$450K	$419K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,508.1	+0.101%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,507.7	+0.074%	$255K	$3.6M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,507.1	+0.033%	$2.7M	$21.2M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,507.9	+0.087%	$4.0M	$4.9M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,507.4	+0.054%	$2.7M	$8.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,507.5	+0.062%	$45K	$153K	20x	as long as short
RISEx ZEC/USDC	+0.0157%	1h	1,507	+0.024%	$968K	$1.1M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0158% / S −0.0162%	1h	1,507.3	+0.049%	$334K	—	100x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0300%	1h	1,508.8	+0.147%	$691K	$1.4M	25x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0368%	1h	1,507.8	+0.076%	$3.8M	$10.0M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0410%	1h	1,508.1	+0.099%	$2.4M	$3.8M	15x	as long as short