Zcash-native perpetual exchangeTESTNET

Trade Zcash.
Settle in Zcash.

Zebra is the first Zcash-native perpetual exchange — trade ZEC perpetuals with ZEC as collateral, self-custodial, settled straight back to your wallet. Powered by NEAR. Built for the people who believe in private money.

ZEC / USD
The mission

Zcash gave the world private money. We're giving Zcash a place to trade it.

For years, ZEC holders have had conviction but nowhere truly their own. To trade derivatives on Zcash you had to leave the ecosystem, hand your coins to a custodian, and trade against a venue that had nothing to do with what Zcash stands for.

Zebra changes that. It's a perpetual-futures exchange where ZEC is the collateral, ZEC is the unit of account, and every position settles back to ZEC in your own wallet. Self-custody. Privacy-aligned. Zcash, end to end.

Our aspiration is simple: to become the financial home for Zcash — the place where ZEC holders, builders, and believers come to express conviction, hedge, and trade, without ever leaving the ecosystem or giving up custody. As Zcash steps into its next chapter, Zebra intends to be the exchange that grows with it.

Why Zebra

Built for Zcash, from the ground up.

ZEC is the collateral

Post ZEC, trade ZEC-USD perpetuals, settle in ZEC — the way XBT defined the exchanges before us, now for Zcash.

🔑

Self-custodial

Connect your ZODL wallet. Your keys, your ZEC. Zebra never takes custody of your coins.

Up to 100×

Real leverage with a transparent funding-rate and liquidation model. Conviction, amplified — responsibly.

NEAR-fast

Settlement on NEAR makes Zebra quick enough to actually trade, while keeping ZEC native end to end.

How it works

Three steps. Zero custodians.

01

Connect your ZODL wallet

Bring your ZEC. No sign-ups, no deposits to a company — you stay in control the whole way.

02

Trade ZEC perpetuals

Go long or short with up to 100× leverage, margined entirely in ZEC, on a fast on-chain venue.

03

Settle back to ZEC

Profit, loss, and funding all settle in ZEC — withdrawn straight back to your own wallet.

Zebra & the Zcash story

Every great asset needs a market that believes in it.

Zcash is the purest expression of an idea the cypherpunks chased for decades: private, self-sovereign digital cash. That idea is finding its moment again — and a movement this serious deserves financial infrastructure built with the same values, not borrowed from venues that don't share them.

Zebra is that infrastructure. A trading layer that turns ZEC conviction into a real, liquid market — for the holders who've been here since the beginning, the enthusiasts arriving now, and the builders who want Zcash to be more than a coin. We're starting with perpetuals. We intend to keep going until Zcash has a complete, self-custodial perpetual exchange to call its own.

Invite & Earn

Earn ZEC for every trader you bring.

Share your link. When someone you refer trades on Zebra, you earn a slice of their fees — and they get a discount on theirs. Paid daily, in ZEC, straight to your self-custodial vault.

15% to you

Earn 15% of the trading fees paid by everyone you refer — for as long as they trade.

10% back to them

Your referees get 10% of their own fees rebated — so your link is genuinely worth sharing.

Paid daily in ZEC

Rebates settle every day as ZEC into your vault. Collateral and rewards, both Zcash.

Your referral link
Testnet demo — referral economics mirror Orderly; rebates settle in ZEC once live.
Powered by Zcash NEAR Intents Orderly Network Pyth Oracle

The first Zcash-native
perpetual exchange.

Self-custodial. ZEC end to end. Live on testnet.

Launch Zebra →