Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0091%/8h= −9.9% APRpaid last 24h +0.001%

Price spread now: GMX against Binance+0.162%7-day average +0.035% · you sell dearer than you buy

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

Long on Binance Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.088%−$9 on $10k

Price spread, last 4 days (all we have)+0.686%+$69 · spread now +0.162%, 7d avg +0.035%

Together, before fees+0.598%+$60 on $10k · with fees, hour by hour

The price spread pays, funding is against you. GMX is 0.127% dearer against Binance than usual: you sell high and buy low (spread +0.162% now, against its 7-day average of +0.035%): +$13 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 4.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ZECUSDT	1,456.8	0.0100	pay 0.0100% / 8h	5h 41m	$668.8M	$2.25B	75x
Short	GMX ZEC/USD [WBTC.b-USDC]	1,459.2	L +0.0054% / S −0.0009%	get 0.0001% / 1h	41m 41s	$378K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.162%Rate

Funding earned: −$19.04
Price spread: +0.162% → +0.035%: $12.69
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$28.35
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 2 min ago; GMX: no order-book sample. 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 Binance live order book, 2 min ago	0.03 bp	5.0 bp −$5	6.7 bp −$67	14.7 bp −$1,469	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.3244%	1h	1,462	+0.351%	$34K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,461.5	+0.322%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0078%	8h	1,459.5	+0.183%	$29.6M	$71.0M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,457.4	+0.042%	$410K	$45K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,459.6	+0.192%	$963K	$4.6M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,459.3	+0.167%	$83K	$249K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,459.4	+0.176%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0038%	8h	1,459.5	+0.186%	$292K	$977K	20x	as long as short
Ondo Perps ZEC-USD.P	+0.0053%	1h	1,459	+0.149%	$396K	$433K	5x	as long as short
GMX ZEC/USD [WBTC.b-USDC]short	L +0.0054% / S −0.0009%	1h	1,459.2	+0.162%	$378K	—	100x

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	+0.190%	$4.6M	$1.4M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,459	+0.150%	$173K	$1.8M	50x	as long as short
Variational Omni ZEC	+0.0098%	8h	1,459.8	+0.207%	$47.4M	$31.8M	—	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,459.6	+0.191%	$18K	$835K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,459	+0.152%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,459.4	+0.175%	$2.6M	$6.5M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,458	+0.080%	$759.9M	$433.2M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,457.9	+0.075%	$14.4M	$28.8M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,457.3	+0.032%	$1.7M	$2.6M	10x	as long as short
Binance ZECUSDTlong	+0.0100%	8h	1,456.8	long leg	$668.8M	$2.25B	75x
Bybit ZECUSDT	+0.0100%	8h	1,456.6	−0.014%	$268.9M	$607.1M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,457	+0.010%	$179.6M	$1.23B	50x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,458.7	+0.125%	$886K	$16K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,457.1	+0.020%	$49.9M	$170.9M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,457.5	+0.044%	$215.7M	$771.1M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,457.3	+0.035%	$102.4M	$55.8M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,457.1	+0.017%	$161.6M	$275.6M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,458.2	+0.093%	—	$6.7M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,459.4	+0.173%	$2.4M	$3.8M	15x	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,461.5	+0.323%	$569K	$8.9M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,459.3	+0.171%	$3.0M	$418K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,461.5	+0.321%	$421K	$883K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,459.8	+0.205%	$70K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,458.6	+0.121%	$324K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,459.1	+0.154%	$126K	$160K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,458.4	+0.111%	$445K	$521K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,462	+0.358%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,459.3	+0.167%	$240K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,458.3	+0.102%	$2.6M	$18.3M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,459.5	+0.185%	$3.8M	$5.1M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,458.4	+0.105%	$2.8M	$7.7M	10x	as long as short
01 Exchange ZECUSD	+0.0104%	1h	1,459.3	+0.172%	$8K	$7K	5x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,458.9	+0.139%	$48K	$155K	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0105%	1h	1,460.2	+0.233%	$608K	$1.3M	25x	as long as short
Kraken Futures PF_ZECUSD	+0.0195%	1h	1,459.2	+0.162%	$18.0M	$43.7M	25x	as long as short
Lighter ZEC	+0.0208%	1h	1,458.3	+0.103%	$19.1M	$46.0M	20x	as long as short
Arcus ZEC-USD	+0.0277%	1h	1,461.4	+0.312%	$707K	$8.5M	10x	as long as short
Lighter RH ZEC	+0.0328%	1h	1,458.8	+0.137%	$2.0M	$6.8M	10x	as long as short
RISEx ZEC/USDC	+0.0409%	1h	1,459.5	+0.183%	$831K	$1.0M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0456%	1h	1,461.3	+0.306%	$3.6M	$9.0M	50x	as long as short
Aftermath Perps ZECUSD	+0.0716%	1h	1,461.6	+0.326%	$43K	$46K	10x	as long as short