Funding arb · Price arb /

ZEC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.025%

Price spread now: Bybit against SoDEX−0.051%46s7-day average −0.020% · 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−$210.209% of the position

Long on SoDEX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.013%−$1 on $10k

Price spread, last 4 days (all we have)−1.355%−$136 · spread now −0.051%, 7d avg −0.020%

Together, before fees−1.368%−$137 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: Bybit is 0.031% cheaper against SoDEX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.020%. The two prices were read 46 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	SoDEX ZEC-USD	1,452.4	0.0100	pay 0.0013% / 1h	7m 35s	$232K	$3.4M	10x
Short	Bybit ZECUSDT	1,451.7	0.0100	get 0.0100% / 8h	5h 07m	$262.3M	$605.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against SoDEX. 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 SoDEXbpFee BybitbpOrdersPrice spread, now −0.051%Rate

Funding earned: $0
Price spread: −0.051% → −0.020%: −$3.06
Slippage, 4 orders: −$1.91
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$23.97
Costs to cover: 0.209%
Break-even: never at this rate

Slippage from SoDEX: live order book, 1 min ago; Bybit: live order book, 2 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 SoDEX live order book, 1 min ago	0.03 bp	4.5 bp −$5	15.0 bp −$150	101.5 bp −$10.1K	doesn't fit
Sell Bybit live order book, 2 min ago	0.03 bp	6.0 bp −$6	9.2 bp −$92	19.5 bp −$1,949	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	−0.3244%	1h	1,455.6	+0.217%	$34K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,452.6	+0.010%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0078%	8h	1,453	+0.043%	$29.3M	$70.6M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,452.5	+0.005%	$409K	$42K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,453.3	+0.059%	$1.5M	$4.5M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,452.3	−0.005%	$83K	$241K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,452.6	+0.010%	$5.1M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0053%	8h	1,452.2	−0.012%	$291K	$966K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0061% / S −0.0011%	1h	1,452.3	−0.008%	$408K	—	100x	as long as short
Phoenix ZEC	+0.0074%	1h	1,455	+0.177%	$4.6M	$1.4M	10x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex ZECUSDT	+0.0096%	1h	1,452.4	−0.002%	$173K	$1.7M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,452.6	+0.013%	$12K	$868K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,452.9	+0.033%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,452.1	−0.023%	$2.6M	$6.3M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,453	+0.041%	$755.0M	$433.6M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,451.7	−0.052%	$14.5M	$28.0M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,452.8	+0.025%	$1.6M	$2.5M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,452.4	0.000%	$665.0M	$2.22B	75x	as long as short
Bybit ZECUSDTshort	+0.0100%	8h	1,451.7	−0.051%	$262.3M	$605.6M	75x
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,452.2	−0.012%	$177.6M	$1.22B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,455.3	+0.199%	$396K	$432K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,457.5	+0.347%	$883K	$21K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,452.4	−0.002%	$50.0M	$175.6M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,452.6	+0.012%	$213.7M	$781.2M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,452.7	+0.019%	$101.8M	$55.4M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,452.4	+0.001%	$161.3M	$273.3M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,451.8	−0.043%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,456.4	+0.273%	$47.6M	$32.8M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,453.5	+0.078%	$566K	$8.7M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,453.8	+0.099%	$3.0M	$432K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,453.1	+0.044%	$409K	$911K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,452.3	−0.010%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,451.7	−0.049%	$367K	$1.9M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,452.5	+0.009%	$160K	$185K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,451.4	−0.072%	$443K	$521K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,456.4	+0.272%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USDlong	+0.0100%	1h	1,452.4	long leg	$232K	$3.4M	10x
HTX ZEC-USDT	+0.0100%	8h	1,453.3	+0.063%	$2.7M	$18.1M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,452.9	+0.032%	$3.8M	$5.1M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0104%	1h	1,453	+0.041%	$2.4M	$3.8M	15x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,452.4	−0.002%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,452.2	−0.016%	$47K	$153K	20x	as long as short
01 Exchange ZECUSD	+0.0136%	1h	1,453.2	+0.056%	$8K	$7K	5x	as long as short
Kraken Futures PF_ZECUSD	+0.0196%	1h	1,452.3	−0.009%	$18.0M	$44.7M	25x	as long as short
Lighter ZEC	+0.0232%	1h	1,453.9	+0.102%	$19.0M	$46.8M	20x	as long as short
Arcus ZEC-USD	+0.0277%	1h	1,454.5	+0.140%	$720K	$8.5M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0311%	1h	1,453.1	+0.046%	$611K	$1.3M	25x	as long as short
Lighter RH ZEC	+0.0360%	1h	1,453.8	+0.095%	$2.0M	$6.9M	10x	as long as short
RISEx ZEC/USDC	+0.0409%	1h	1,453.4	+0.070%	$831K	$1.0M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0456%	1h	1,452.8	+0.028%	$3.7M	$9.1M	50x	as long as short
Aftermath Perps ZECUSD	+0.0690%	1h	1,456.6	+0.288%	$45K	$49K	10x	as long as short