Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0081%/8h= −8.9% APRpaid last 24h −0.036%

Price spread now: Kraken Futures against Variational Omni+0.226%7-day average +0.089% · you sell dearer than you buy

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

Long on Variational Omni Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.070%−$7 on $10k

Price spread, last 4 days (all we have)+0.679%+$68 · spread now +0.226%, 7d avg +0.089%

Together, before fees+0.609%+ Points / potential airdropVariational Omni: Active · farm board+$61 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.137% dearer against Variational Omni than usual: you sell high and buy low (spread +0.226% now, against its 7-day average of +0.089%): +$14 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 5.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ZEC	1,502.5	0.0100	pay 0.0100% / 8h	7h 26m	$49.7M	$36.0M	—
Short	Kraken Futures PF_ZECUSD	1,505.9	0.0019	get 0.0002% / 1h	26m 34s	$18.3M	$47.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Variational Omni. 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 Variational OmnibpFee Kraken FuturesbpOrdersPrice spread, now +0.226%Rate

Funding earned: −$17.06
Price spread: +0.226% → +0.089%: $13.71
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$13.35
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Kraken Futures: live order book, 3 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 Variational Omni RFQ quote, 3 min ago	2.76 bp	doesn't fit	7.0 bp −$70	14.7 bp −$1,468	doesn't fit
Sell Kraken Futures live order book, 3 min ago	3.69 bp	9.7 bp −$10	12.2 bp −$122	18.9 bp −$1,895	181.4 bp −$90.7K

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	−0.741%	$36K	$275K	12x	as long as short
Perpl ZEC	−0.0447%	43m	1,504.7	+0.143%	$62K	$305K	10x	as long as short
Aftermath Perps ZECUSD	−0.0211%	1h	1,505.1	+0.170%	$48K	$58K	10x	as long as short
BloFin ZEC-USDT	−0.0160%	8h	1,505.1	+0.168%	$31.8M	$76.5M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,506.4	+0.253%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,503.7	+0.076%	$418K	$34K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,505.3	+0.181%	$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	−0.044%	$5.3M	—	150x	as long as short
Kraken Futures PF_ZECUSDshort	+0.0019%	1h	1,505.9	+0.226%	$18.3M	$47.7M	25x
01 Exchange ZECUSD	+0.0024%	1h	1,508.6	+0.403%	$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	+0.108%	$4.8M	$1.4M	10x	as long as short
Orderly PERP_ZEC_USDC	+0.0084%	8h	1,505.9	+0.223%	$304K	$860K	20x	as long as short
Gate ZEC_USDT	+0.0088%	8h	1,505.2	+0.175%	$60.7M	$186.1M	75x	as long as short
Lighter ZEC	+0.0096%	1h	1,504.6	+0.134%	$19.5M	$45.1M	20x	as long as short
Lighter RH ZEC	+0.0096%	1h	1,504.8	+0.153%	$2.1M	$7.5M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,508.6	+0.406%	$172K	$1.8M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,504.2	+0.109%	$62K	$16K	10x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,507.9	+0.357%	$16K	$893K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,505	+0.162%	$3.1M	$7.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,503.7	+0.075%	$786.5M	$447.4M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,503.1	+0.040%	$14.1M	$30.3M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,504	+0.097%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,504	+0.096%	$709.6M	$2.32B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,503.9	+0.091%	$269.5M	$617.4M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,504.3	+0.117%	$184.7M	$1.37B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,504.9	+0.157%	$409K	$548K	5x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,508.8	+0.413%	$604K	$9.0M	10x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,503.8	+0.081%	$774K	$147K	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,504.1	+0.102%	$405.9M	$836.8M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,503.1	+0.037%	$102.8M	$57.0M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,505.1	+0.170%	$162.8M	$294.8M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,506.9	+0.292%	—	$120.2M	—	as long as short
Variational Omni ZEClong	+0.0100%	8h	1,502.5	long leg	$49.7M	$36.0M	—
edgeX ZECUSDC	+0.0100%	4h	1,503.3	+0.050%	$554K	$9.2M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,502.7	+0.013%	$3.1M	$533K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,503.6	+0.067%	$413K	$952K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,502.6	+0.002%	$50K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,505.7	+0.210%	$374K	$1.6M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,506.6	+0.269%	$168K	$192K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,502	−0.035%	$449K	$419K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,508.4	+0.387%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,505.6	+0.205%	$255K	$3.6M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,504.7	+0.142%	$2.7M	$21.1M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,505.9	+0.222%	$4.0M	$4.9M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,507.5	+0.331%	$2.8M	$8.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,505.7	+0.212%	$45K	$153K	20x	as long as short
RISEx ZEC/USDC	+0.0157%	1h	1,508.2	+0.373%	$953K	$1.1M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0161% / S −0.0165%	1h	1,506.8	+0.285%	$334K	—	100x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0238%	1h	1,506.8	+0.285%	$690K	$1.4M	25x	as long as short
Backpack ZEC_USDC_PERP	+0.0240%	1h	1,505.2	+0.178%	$2.4M	$3.8M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0368%	1h	1,507.6	+0.336%	$3.8M	$10.1M	50x	as long as short