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 +0.082%

Price spread now: Coinbase International against BingX+0.288%7-day average +0.184% · 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−$29as in the Price arb table

costs, in and out, $10k−$390.390% of the position

Long on BingX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.153%+$15 on $10k

Price spread, last 3 days (all we have)+0.068%+$7 · spread now +0.288%, 7d avg +0.184%

Together, before fees+0.221%+$22 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 0.104% dearer against BingX than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.184%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.153% in total (about 8.0% 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	BingX ZEC-USDC	1,454.1	0.0100	pay 0.0100% / 8h	2h 55m	—	$6.8M	—
Short	Coinbase International ZEC-PERP-INTX	1,458.3	0.0440	get 0.0055% / 1h	55m 06s	$3.7M	$11.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.288%Rate

Funding earned: $71.4
Price spread: +0.288% → +0.184%: $10.38
Slippage, 4 orders: −$18.99
Fee BingX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $42.79
Costs to cover: 0.390%
Break-even: 2.8 days

Slippage from BingX: live order book, 13 min ago; Coinbase International: live order book, 4 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, 13 min ago	1.17 bp	7.4 bp −$7	14.2 bp −$142	34.0 bp −$3,396	81.8 bp −$40.9K
Sell Coinbase International live order book, 4 min ago	1.51 bp	11.2 bp −$11	17.2 bp −$172	46.5 bp −$4,649	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	1,437.6	−1.134%	$33K	$275K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,452	−0.145%	$6K	$2K	10x	as long as short
Kraken Futures PF_ZECUSD	−0.0071%	1h	1,454.9	+0.054%	$17.6M	$44.9M	25x	as long as short
BloFin ZEC-USDT	−0.0065%	8h	1,454.9	+0.056%	$29.2M	$76.1M	75x	as long as short
Variational Omni ZEC	−0.0034%	8h	1,451.4	−0.187%	$45.5M	$32.3M	—	as long as short
Bybit ZECUSDT	−0.0016%	8h	1,453.1	−0.066%	$268.8M	$677.5M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,453.4	−0.048%	$409K	$106K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,454.2	+0.004%	$848K	$5.5M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,453.7	−0.031%	$82K	$400K	10x	as long as short
Orderly PERP_ZEC_USDC	+0.0006%	8h	1,455.4	+0.088%	$292K	$1.5M	20x	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	1,455.5	+0.096%	$5.2M	—	150x	as long as short
OKX ZEC-USDT-SWAP	+0.0035%	8h	1,452.7	−0.098%	$172.9M	$1.37B	50x	as long as short
01 Exchange ZECUSD	+0.0040%	1h	1,454	−0.010%	$8K	$8K	5x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0041% / S +0.0061%	1h	1,455.3	+0.080%	$536K	—	100x	as long as short
Phoenix ZEC	+0.0045%	1h	1,450.4	−0.257%	$4.6M	$1.6M	10x	as long as short
Aster ZECUSDT	+0.0050%	8h	1,455	+0.061%	$15.1M	$35.3M	75x	as long as short
Gate ZEC_USDT	+0.0066%	8h	1,455	+0.065%	$49.3M	$184.9M	75x	as long as short
MEXC ZEC_USDT	+0.0094%	8h	1,456	+0.131%	$219.2M	$878.3M	150x	as long as short
Katana Perps ZEC-USD	+0.0095%	8h	1,454.2	+0.010%	$17K	$886K	10x	as long as short
Binance ZECUSDT	+0.0096%	8h	1,455.4	+0.087%	$662.3M	$2.55B	75x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,454.1	+0.002%	$178K	$2.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,453	−0.076%	$60K	$37K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,455	+0.064%	$3.0M	$6.9M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,455.4	+0.089%	$754.0M	$509.1M	10x	as long as short
Pacifica ZEC	+0.0100%	1h	1,453.6	−0.037%	$1.6M	$3.1M	10x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,449.9	−0.289%	$393K	$522K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,454.9	+0.054%	$896K	$37K	10x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,455.3	+0.085%	$103.8M	$57.3M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,452.8	−0.087%	$162.4M	$317.0M	75x	as long as short
BingX ZEC-USDClong	+0.0100%	8h	1,454.1	long leg	—	$6.8M	—
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,456.3	+0.150%	$2.3M	$4.1M	15x	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,450.9	−0.222%	$487K	$9.7M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,452.2	−0.127%	$3.0M	$501K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,450.5	−0.247%	$705K	$604K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,451.1	−0.204%	$109K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,454.8	+0.048%	$299K	$2.1M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,455.1	+0.071%	$127K	$161K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,454.1	−0.001%	$442K	$493K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,456.4	+0.157%	$3K	$1.3M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,455.2	+0.078%	$220K	$4.7M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,452.3	−0.123%	$2.4M	$25.3M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,454.9	+0.057%	$3.7M	$5.5M	50x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,455.5	+0.099%	$36K	$362K	20x	as long as short
Lighter ZEC	+0.0144%	1h	1,456.3	+0.149%	$18.9M	$53.6M	20x	as long as short
RISEx ZEC/USDC	+0.0219%	1h	1,454.1	−0.001%	$863K	$2.5M	10x	as long as short
Extended ZEC-USD	+0.0400%	1h	1,453.1	−0.069%	$3.3M	$7.0M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0419%	1h	1,456.4	+0.157%	$570K	$1.3M	25x	as long as short
Coinbase International ZEC-PERP-INTXshort	+0.0440%	1h	1,458.3	+0.288%	$3.7M	$11.6M	50x
Aftermath Perps ZECUSD	+0.0463%	1h	1,454.4	+0.018%	$39K	$32K	10x	as long as short
Arcus ZEC-USD	+0.0518%	1h	1,455.4	+0.088%	$754K	$7.8M	10x	as long as short
Lighter RH ZEC	+0.0624%	1h	1,457.3	+0.222%	$2.0M	$8.4M	10x	as long as short