Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.015%

Price spread now: OKX against Popdex−0.070%7-day average −0.006% · 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−$25as in the Price arb table

costs, in and out, $10k−$190.190% of the position

Long on Popdex Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.056%−$6 on $10k

Price spread, last 7 days+0.072%+$7 · spread now −0.070%, 7d avg −0.006%

Together, before fees+0.016%+$2 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: OKX is 0.064% cheaper against Popdex than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex ZECUSDT	1,468.2	0.0096	pay 0.0012% / 1h	49m 59s	$174K	$1.6M	50x
Short	OKX ZEC-USDT-SWAP	1,467.1	0.0100	get 0.0100% / 8h	2h 49m	$178.5M	$1.21B	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Popdex. 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 PopdexbpFee OKXbpOrdersPrice spread, now −0.070%Rate

Funding earned: $0.84
Price spread: −0.070% → −0.006%: −$6.42
Slippage, 4 orders: −$2.58
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee OKX: 5 bp × 2 orders: −$10
Net: −$24.56
Costs to cover: 0.190%
Break-even: 211.7 days

Slippage from Popdex: live order book, 4 min ago; OKX: live order book, 4 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 Popdex live order book, 4 min ago	0.24 bp	4.1 bp −$4	8.7 bp −$87	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	0.03 bp	6.0 bp −$6	8.5 bp −$85	18.1 bp −$1,814	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	−0.3243%	1h	1,467.3	−0.055%	$34K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,470.2	+0.138%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0069%	8h	1,470	+0.125%	$29.9M	$71.0M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,469.3	+0.076%	$408K	$37K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,469.2	+0.071%	$1.5M	$4.4M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,467.8	−0.024%	$84K	$239K	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	0.0000%	1h	1,468	−0.008%	$618K	$1.3M	25x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,467.9	−0.015%	$5.2M	—	150x	as long as short
01 Exchange ZECUSD	+0.0024%	1h	1,468.3	+0.008%	$8K	$7K	5x	as long as short
Orderly PERP_ZEC_USDC	+0.0062%	8h	1,467.4	−0.048%	$293K	$900K	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix ZEC	+0.0092%	1h	1,465.6	−0.176%	$4.7M	$1.3M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0093% / S −0.0046%	1h	1,467.7	−0.029%	$437K	—	100x	as long as short
Lighter RH ZEC	+0.0096%	1h	1,468.9	+0.050%	$2.1M	$7.1M	10x	as long as short
Popdex ZECUSDTlong	+0.0096%	1h	1,468.2	long leg	$174K	$1.6M	50x
Katana Perps ZEC-USD	+0.0100%	8h	1,469.1	+0.062%	$12K	$797K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,468.7	+0.037%	$61K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,469.5	+0.090%	$2.9M	$6.4M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,468.6	+0.031%	$764.6M	$418.8M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,467.6	−0.035%	$14.5M	$27.8M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,468.8	+0.041%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,467.6	−0.040%	$677.0M	$2.17B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,466.9	−0.085%	$262.7M	$586.6M	75x	as long as short
OKX ZEC-USDT-SWAPshort	+0.0100%	8h	1,467.1	−0.070%	$178.5M	$1.21B	50x
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,466.2	−0.133%	$398K	$430K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,464.4	−0.254%	$885K	$17K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,467.4	−0.054%	$52.7M	$169.8M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,467.5	−0.045%	$219.2M	$757.6M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,468.2	+0.002%	$103.3M	$52.6M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,467.8	−0.022%	$166.8M	$267.1M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,467.5	−0.044%	—	$107.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,469.8	+0.112%	$48.2M	$32.4M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,465.8	−0.160%	$572K	$8.5M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,467.5	−0.043%	$3.0M	$453K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,467.3	−0.058%	$405K	$923K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,468.9	+0.048%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,468	−0.010%	$359K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,467.7	−0.033%	$161K	$186K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,466.5	−0.109%	$448K	$506K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,469.6	+0.101%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,467.4	−0.052%	$235K	$3.2M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,467	−0.078%	$2.7M	$18.3M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,467.8	−0.022%	$3.9M	$4.8M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,467.5	−0.043%	$2.8M	$7.8M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,467.5	−0.045%	$47K	$151K	20x	as long as short
Lighter ZEC	+0.0144%	1h	1,468.8	+0.042%	$19.4M	$43.8M	20x	as long as short
Kraken Futures PF_ZECUSD	+0.0147%	1h	1,467.5	−0.047%	$18.0M	$45.6M	25x	as long as short
RISEx ZEC/USDC	+0.0154%	1h	1,468.5	+0.021%	$928K	$1.1M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0291%	1h	1,468.1	−0.005%	$2.4M	$3.8M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0496%	1h	1,470.6	+0.170%	$3.8M	$9.2M	50x	as long as short
Arcus ZEC-USD	+0.0508%	1h	1,469.7	+0.107%	$671K	$8.2M	10x	as long as short
Aftermath Perps ZECUSD	+0.0680%	1h	1,467.6	−0.039%	$45K	$49K	10x	as long as short