Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0109%/8h= +11.9% APRpaid last 24h +0.013%

Price spread now: Backpack against BingX+0.197%7-day average +0.445% · you sell dearer than you buy

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$320.317% of the position

Long on BingX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.076%−$8 on $10k

Price spread, last 7 days−1.053%−$105 · spread now +0.197%, 7d avg +0.445%

Together, before fees−1.128%−$113 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.247% cheaper against BingX than usual: you would sell low and buy high (spread +0.197% now, against its 7-day average of +0.445%). If the spread goes back, that is −$25 on $10k: about 7.6 days of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −0.076%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ZEC-USDC	1,468.6	0.0100	pay 0.0100% / 8h	1h 02m	—	$6.7M	—
Short	Backpack ZEC_USDC_PERP	1,471.5	0.0209	get 0.0026% / 1h	2m 15s	$2.4M	$3.7M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against BingX. 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 BingXbpFee BackpackbpOrdersPrice spread, now +0.197%Rate

Funding earned: $22.8
Price spread: +0.197% → +0.445%: −$24.71
Slippage, 4 orders: −$11.69
Fee BingX: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$33.6
Costs to cover: 0.317%
Break-even: 17.3 days

Slippage from BingX: live order book, just now; Backpack: live order book, 2 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 BingX live order book, just now	0.78 bp	10.9 bp −$11	16.3 bp −$163	36.9 bp −$3,685	85.0 bp −$42.5K
Sell Backpack live order book, 2 min ago	0.03 bp	6.1 bp −$6	26.0 bp −$260	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 PERP	−0.3310%	1h	1,474	+0.364%	$34K	$275K	12x	as long as short
Kraken Futures PF_ZECUSD	−0.0403%	1h	1,469.3	+0.042%	$17.9M	$44.9M	25x	as long as short
Ondo Perps ZEC-USD.P	−0.0266%	1h	1,470.5	+0.127%	$398K	$517K	5x	as long as short
BloFin ZEC-USDT	−0.0108%	8h	1,470.9	+0.156%	$29.4M	$75.6M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,470.7	+0.138%	$6K	$2K	10x	as long as short
Bybit ZECUSDT	−0.0077%	8h	1,468.3	−0.023%	$272.1M	$665.7M	75x	as long as short
Variational Omni ZEC	−0.0036%	8h	1,470.8	+0.145%	$46.7M	$33.4M	—	as long as short
dYdX ZEC-USD	0.0000%	1h	1,470.7	+0.143%	$414K	$104K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,470.5	+0.129%	$897K	$5.6M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,469.8	+0.080%	$83K	$404K	10x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit ZEC_USDC-PERPETUAL	0.0000%	1h	1,469.7	+0.071%	$598K	$1.3M	25x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,469.5	+0.057%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0009%	8h	1,468.9	+0.015%	$294K	$1.4M	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0038% / S +0.0009%	1h	1,469.3	+0.044%	$359K	—	100x	as long as short
OKX ZEC-USDT-SWAP	+0.0038%	8h	1,468.7	+0.003%	$178.3M	$1.35B	50x	as long as short
Gate ZEC_USDT	+0.0045%	8h	1,469.2	+0.035%	$50.1M	$187.7M	75x	as long as short
01 Exchange ZECUSD	+0.0064%	1h	1,470.4	+0.118%	$8K	$8K	5x	as long as short
Phoenix ZEC	+0.0075%	1h	1,473.5	+0.332%	$4.6M	$1.6M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,469.8	+0.081%	$175K	$1.9M	50x	as long as short
Katana Perps ZEC-USD	+0.0097%	8h	1,470.4	+0.118%	$12K	$823K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,469.9	+0.083%	$60K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,471.1	+0.170%	$2.6M	$6.8M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,470.3	+0.113%	$763.0M	$479.1M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,468.9	+0.019%	$15.6M	$32.4M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,470.9	+0.151%	$1.7M	$2.9M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,468.8	+0.012%	$677.8M	$2.47B	75x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,467.7	−0.061%	$906K	$27K	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,469	+0.024%	$221.9M	$873.5M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,469.5	+0.057%	$103.8M	$55.8M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,469.2	+0.040%	$162.5M	$303.8M	75x	as long as short
BingX ZEC-USDClong	+0.0100%	8h	1,468.6	long leg	—	$6.7M	—
edgeX ZECUSDC	+0.0100%	4h	1,472.1	+0.237%	$513K	$9.3M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,471.8	+0.217%	$3.0M	$482K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,469.2	+0.036%	$431K	$826K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,471.9	+0.222%	$110K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,469.3	+0.045%	$346K	$1.9M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,468.8	+0.012%	$127K	$160K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,467.4	−0.082%	$447K	$502K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,472.5	+0.265%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,468.9	+0.018%	$226K	$4.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,469	+0.025%	$2.5M	$23.3M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,469.6	+0.062%	$3.8M	$5.3M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,469.3	+0.042%	$3.3M	$6.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,468.5	−0.008%	$37K	$366K	20x	as long as short
Lighter ZEC	+0.0112%	1h	1,470.5	+0.127%	$19.0M	$52.8M	20x	as long as short
RISEx ZEC/USDC	+0.0190%	1h	1,470.4	+0.117%	$833K	$1.3M	10x	as long as short
Backpack ZEC_USDC_PERPshort	+0.0209%	1h	1,471.5	+0.197%	$2.4M	$3.7M	15x
Lighter RH ZEC	+0.0400%	1h	1,471.2	+0.172%	$2.0M	$8.3M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0424%	1h	1,471.2	+0.173%	$3.8M	$11.5M	50x	as long as short
Arcus ZEC-USD	+0.0444%	1h	1,471.6	+0.205%	$718K	$8.2M	10x	as long as short
Aftermath Perps ZECUSD	+0.0609%	1h	1,470.3	+0.111%	$41K	$34K	10x	as long as short