Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0340%/8h= +37.2% APRpaid last 24h +0.084%

Price spread now: Coinbase International against Binance+0.171%7-day average +0.127% · you sell dearer than you buy

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$380.379% of the position

Long on Binance Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.137%+$14 on $10k

Price spread, last 3 days (all we have)+1.363%+$136 · spread now +0.171%, 7d avg +0.127%

Together, before fees+1.500%+$150 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Coinbase International is 0.044% dearer against Binance than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.127%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.137% in total (about 7.1% 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	Binance ZECUSDT	1,452.3	0.0100	pay 0.0100% / 8h	2h 49m	$658.8M	$2.55B	75x
Short	Coinbase International ZEC-PERP-INTX	1,454.8	0.0440	get 0.0055% / 1h	49m 14s	$3.7M	$11.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Binance. 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 BinancebpFee Coinbase InternationalbpOrdersPrice spread, now +0.171%Rate

Funding earned: $71.4
Price spread: +0.171% → +0.127%: $4.38
Slippage, 4 orders: −$17.86
Fee Binance: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $37.92
Costs to cover: 0.379%
Break-even: 3.3 days

Slippage from Binance: live order book, 10 min ago; Coinbase International: live order book, 5 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 Binance live order book, 10 min ago	0.03 bp	5.0 bp −$5	6.2 bp −$62	16.2 bp −$1,619	doesn't fit
Sell Coinbase International live order book, 5 min ago	1.62 bp	14.4 bp −$14	15.9 bp −$159	52.3 bp −$5,225	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	−0.3476%	1h	1,437.8	−1.000%	$33K	$275K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,454.7	+0.164%	$6K	$2K	10x	as long as short
Kraken Futures PF_ZECUSD	−0.0071%	1h	1,452.8	+0.035%	$17.6M	$44.6M	25x	as long as short
BloFin ZEC-USDT	−0.0066%	8h	1,452.8	+0.035%	$28.9M	$75.5M	75x	as long as short
Variational Omni ZEC	−0.0026%	8h	1,451.7	−0.044%	$45.5M	$32.1M	—	as long as short
Bybit ZECUSDT	−0.0009%	8h	1,452.4	+0.006%	$269.2M	$677.1M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,454.8	+0.172%	$410K	$106K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,454.1	+0.119%	$848K	$5.5M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,453.1	+0.050%	$82K	$401K	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	0.0000%	1h	1,453.5	+0.081%	$566K	$1.3M	25x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,452.9	+0.037%	$5.1M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0009%	8h	1,452.9	+0.038%	$291K	$1.5M	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0038% / S +0.0065%	1h	1,452.3	+0.001%	$543K	—	100x	as long as short
OKX ZEC-USDT-SWAP	+0.0039%	8h	1,453.1	+0.052%	$172.3M	$1.36B	50x	as long as short
Aster ZECUSDT	+0.0059%	8h	1,454.2	+0.130%	$15.3M	$35.2M	75x	as long as short
Gate ZEC_USDT	+0.0065%	8h	1,452.4	+0.004%	$49.1M	$185.5M	75x	as long as short
01 Exchange ZECUSD	+0.0072%	1h	1,454.1	+0.120%	$8K	$8K	5x	as long as short
Katana Perps ZEC-USD	+0.0095%	8h	1,453.8	+0.099%	$17K	$886K	10x	as long as short
Lighter ZEC	+0.0096%	1h	1,454.3	+0.133%	$18.7M	$53.9M	20x	as long as short
Ondo Perps ZEC-USD.P	+0.0096%	1h	1,449.8	−0.175%	$394K	$517K	5x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,453.2	+0.062%	$177K	$2.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,453.7	+0.094%	$60K	$37K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,454	+0.114%	$3.0M	$6.8M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,453.8	+0.101%	$751.6M	$493.4M	10x	as long as short
Pacifica ZEC	+0.0100%	1h	1,453.8	+0.100%	$1.6M	$3.1M	10x	as long as short
Binance ZECUSDTlong	+0.0100%	8h	1,452.3	long leg	$658.8M	$2.55B	75x
Bulk ZEC-USD	+0.0100%	1h	1,455	+0.180%	$896K	$37K	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,452.9	+0.035%	$218.0M	$881.6M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,452.9	+0.037%	$103.5M	$57.2M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,452.9	+0.041%	$161.9M	$316.4M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,452.1	−0.017%	—	$6.8M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,455	+0.185%	$2.3M	$4.2M	15x	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,453.4	+0.073%	$487K	$9.8M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,455.2	+0.194%	$3.0M	$501K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,452.6	+0.021%	$706K	$606K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,452.6	+0.019%	$109K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,452.6	+0.018%	$298K	$2.1M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,452.5	+0.011%	$126K	$161K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,451.7	−0.045%	$441K	$493K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,456	+0.250%	$3K	$1.3M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,452.9	+0.041%	$220K	$4.7M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,453	+0.046%	$2.4M	$25.2M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,452.9	+0.040%	$3.7M	$5.4M	50x	as long as short
Phoenix ZEC	+0.0103%	1h	1,452.3	−0.006%	$4.6M	$1.6M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,452.9	+0.042%	$36K	$362K	20x	as long as short
RISEx ZEC/USDC	+0.0219%	1h	1,454.5	+0.150%	$863K	$2.5M	10x	as long as short
Extended ZEC-USD	+0.0272%	1h	1,453.1	+0.051%	$3.3M	$7.0M	10x	as long as short
Coinbase International ZEC-PERP-INTXshort	+0.0440%	1h	1,454.8	+0.171%	$3.7M	$11.5M	50x
Aftermath Perps ZECUSD	+0.0462%	1h	1,453.5	+0.083%	$39K	$32K	10x	as long as short
Arcus ZEC-USD	+0.0518%	1h	1,456.3	+0.274%	$751K	$7.8M	10x	as long as short
Lighter RH ZEC	+0.0728%	1h	1,455.1	+0.192%	$1.9M	$8.4M	10x	as long as short