Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.3344%/8h= −366.2% APRpaid last 24h −0.566%

Price spread now: Injective against Aster−0.070%77s7-day average +0.091% · you buy dearer than you sell

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

Long on Aster Short on Injective

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−1.267%−$127 on $10k

Price spread, last 4 days (all we have)+2.167%+$217 · spread now −0.070%, 7d avg +0.091%

Together, before fees+0.901%+ Points / potential airdropAster: Stage 5 · farm board+$90 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$100 a day on $10k at the current rate, and Injective is 0.162% cheaper against Aster than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of +0.091%). Swap the legs. The two prices were read 77 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 5 days it paid -1.267% in total (about -85.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ZECUSDT	1,461.1	0.0100	pay 0.0100% / 8h	5h 44m	$14.5M	$28.8M	75x
Short	Injective ZEC/USDC PERP	1,460	−0.3244	pay 0.0406% / 1h	44m 06s	$34K	$272K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Aster. 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 AsterbpFee InjectivebpOrdersPrice spread, now −0.070%Rate

Funding earned: −$702.32
Price spread: −0.070% → +0.091%: −$16.19
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$726.52
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Aster: live order book, 5 min ago; Injective: live order book, 20 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 Aster live order book, 5 min ago	2.02 bp	6.0 bp −$6	8.0 bp −$80	22.8 bp −$2,279	doesn't fit
Sell Injective live order book, 20 min ago	66.26 bp	doesn't fit	doesn't fit	doesn't fit	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 PERPshort	−0.3244%	1h	1,460	−0.070%	$34K	$272K	12x
Hotstuff ZEC-PERP	−0.0080%	1h	1,460.6	−0.032%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0078%	8h	1,462.3	+0.082%	$29.7M	$71.1M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,460.8	−0.018%	$411K	$46K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,461.4	+0.025%	$963K	$4.6M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,460.9	−0.014%	$84K	$249K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,461.3	+0.014%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0037%	8h	1,461.4	+0.025%	$292K	$977K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0054% / S −0.0009%	1h	1,461.2	+0.011%	$379K	—	100x	as long as short
ApeX Omni ZECUSDT	+0.0073%	1h	1,462	+0.065%	$425K	$879K	50x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix ZEC	+0.0074%	1h	1,459.6	−0.100%	$4.6M	$1.4M	10x	as long as short
Ondo Perps ZEC-USD.P	+0.0083%	1h	1,459.8	−0.087%	$396K	$433K	5x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,460.2	−0.059%	$173K	$1.8M	50x	as long as short
Variational Omni ZEC	+0.0098%	8h	1,459.8	−0.084%	$47.4M	$31.8M	—	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0099%	1h	1,462	+0.067%	$609K	$1.3M	25x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,461.5	+0.027%	$19K	$835K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,460.5	−0.041%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,460.7	−0.023%	$2.6M	$6.5M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,461.5	+0.030%	$761.6M	$432.8M	10x	as long as short
Aster ZECUSDTlong	+0.0100%	8h	1,461.1	long leg	$14.5M	$28.8M	75x
Pacifica ZEC	+0.0100%	1h	1,460.8	−0.021%	$1.7M	$2.6M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,460.7	−0.022%	$673.4M	$2.25B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,460.7	−0.027%	$270.2M	$605.5M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,460.7	−0.029%	$179.7M	$1.23B	50x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,458.7	−0.166%	$886K	$16K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,460.4	−0.046%	$50.0M	$170.7M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,460.5	−0.042%	$215.3M	$770.7M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,460.8	−0.022%	$102.7M	$55.8M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,460.4	−0.046%	$162.1M	$275.5M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,460.9	−0.013%	—	$6.7M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,461	−0.007%	$2.4M	$3.8M	15x	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,459	−0.144%	$568K	$8.9M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,459.3	−0.120%	$3.0M	$418K	10x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,460.4	−0.045%	$70K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,460	−0.073%	$340K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,461.3	+0.012%	$127K	$160K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,460.1	−0.065%	$446K	$521K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,462.4	+0.092%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,461.6	+0.034%	$241K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,460.2	−0.061%	$2.6M	$18.3M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,460.9	−0.009%	$3.8M	$5.1M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,461.4	+0.023%	$2.8M	$7.7M	10x	as long as short
01 Exchange ZECUSD	+0.0104%	1h	1,460.8	−0.020%	$8K	$7K	5x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,461.2	+0.010%	$48K	$155K	20x	as long as short
Lighter ZEC	+0.0184%	1h	1,461.8	+0.047%	$19.1M	$45.9M	20x	as long as short
Kraken Futures PF_ZECUSD	+0.0195%	1h	1,460.7	−0.025%	$18.0M	$43.7M	25x	as long as short
Arcus ZEC-USD	+0.0277%	1h	1,462.6	+0.104%	$706K	$8.5M	10x	as long as short
Lighter RH ZEC	+0.0328%	1h	1,462.2	+0.075%	$2.1M	$6.8M	10x	as long as short
RISEx ZEC/USDC	+0.0409%	1h	1,460.9	−0.010%	$835K	$1.0M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0456%	1h	1,462.7	+0.112%	$3.6M	$9.0M	50x	as long as short
Aftermath Perps ZECUSD	+0.0708%	1h	1,462.4	+0.093%	$43K	$46K	10x	as long as short