ZEC arbitrage explained
Right now Zcash (ZEC) trades on 11 venues we scan: 11 perpetual markets, 6 spot markets and 0 DEX pools. The lowest ask is on Bybit perp at $1,321.01 and the highest bid on Variational perp at $1,323.25.
The widest ZEC perpetual spread is between Bybit and Variational: long ZEC on Bybit at $1,321.01 and short on Variational at $1,323.25 for +0.17% gross, or +0.01% after the 0.16% two-leg fee model. No transfer is needed: both positions stay on their exchanges until the prices converge. The funding difference on this pair is +0.001% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best ZEC route is to buy spot on KuCoin and short the perpetual on Variational: +0.13% gross, -0.07% net, with +0.030% a day of funding on the short leg.
Spot–spot ZEC arbitrage (buy on KuCoin, withdraw, deposit and sell on MEXC) shows +0.03% gross right now. It only works if withdrawals on the buying exchange and deposits on the selling exchange are open, so check the D/W dots before moving coins.
Small ZEC gaps usually disappear after fees, slippage and funding. Look at the Net column, the executable Depth and the spread history before trading: a gap that has been open for days is a different trade from a one-minute spike.
Related: ZEC funding rates · ZEC spread charts · Zcash price · arbitrage scanner for all coins.