Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0094%/8h= −10.3% APRpaid last 24h −0.018%

Price spread now: gTrade (Gains Network) against BingX+0.003%151s7-day average +0.080% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2872.871% of the position

Long on BingX Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.082%−$8 on $10k

Price spread, last 7 days+0.071%+$7 · spread now +0.003%, 7d avg +0.080%

Together, before fees−0.011%−$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.078% cheaper against BingX than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.080%). Swap the legs. The two prices were read 151 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ZEC-USDC	1,504.7	0.0100	pay 0.0100% / 8h	5h 58m	—	$6.6M	—
Short	gTrade (Gains Network) ZEC/USD	1,504.7	L +0.0007% / S −0.0006%	get 0.0001% / 1h	58m 43s	$5.4M	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now +0.003%Rate

Funding earned: −$19.7
Price spread: +0.003% → +0.080%: −$7.77
Slippage, 4 orders: −$267.13
Fee BingX: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$314.6
Costs to cover: 2.871%
Break-even: never at this rate

Slippage from BingX: live order book, 6 min ago; gTrade (Gains Network): virtual book (oracle exchange), 3 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, 6 min ago	0.23 bp	8.6 bp −$9	13.5 bp −$135	33.6 bp −$3,362	83.3 bp −$41.7K
Sell gTrade (Gains Network) virtual book (oracle exchange), 3 min ago	130.05 bp	135.1 bp −$135	584.7 bp −$5,847	doesn't fit	doesn't fit

ZEC on 50 exchanges

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	−0.4130%	1h	1,480	−1.640%	$36K	$267K	12x	as long as short
Ondo Perps ZEC-USD.P	−0.0211%	1h	1,504.1	−0.037%	$408K	$499K	5x	as long as short
BloFin ZEC-USDT	−0.0190%	8h	1,505	+0.020%	$31.9M	$73.6M	75x	as long as short
Aftermath Perps ZECUSD	−0.0101%	1h	1,503.8	−0.055%	$46K	$58K	10x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,503.6	−0.070%	$6K	$1K	10x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,505.3	+0.043%	$1.5M	$4.9M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,503.5	−0.078%	$63K	$300K	10x	as long as short
gTrade (Gains Network) ZEC/USDshort	L +0.0007% / S −0.0006%	1h	1,504.7	+0.003%	$5.4M	—	150x
01 Exchange ZECUSD	+0.0008%	1h	1,504.7	+0.006%	$8K	$6K	5x	as long as short
RISEx ZEC/USDC	+0.0032%	1h	1,504.6	−0.006%	$910K	$1.3M	10x	as long as short

Show all 50 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_ZEC_USDC	+0.0072%	8h	1,504.8	+0.007%	$304K	$856K	20x	as long as short
Lighter ZEC	+0.0096%	1h	1,506.6	+0.130%	$19.9M	$38.9M	20x	as long as short
Lighter RH ZEC	+0.0096%	1h	1,506.9	+0.152%	$2.0M	$7.0M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,504.6	−0.001%	$170K	$1.5M	50x	as long as short
Kraken Futures PF_ZECUSD	+0.0099%	1h	1,505.3	+0.042%	$18.5M	$46.2M	25x	as long as short
Aster ZECUSDT	+0.0099%	8h	1,505	+0.023%	$14.1M	$26.9M	75x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,504.1	−0.039%	$62K	$14K	10x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,504.1	−0.039%	$24K	$877K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,505.2	+0.036%	$3.1M	$7.2M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,506.1	+0.096%	$790.2M	$431.3M	10x	as long as short
Pacifica ZEC	+0.0100%	1h	1,505.6	+0.064%	$1.7M	$1.9M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,505.6	+0.062%	$708.5M	$2.20B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,504.1	−0.035%	$276.1M	$590.7M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,504.1	−0.037%	$185.9M	$1.31B	50x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,505.3	+0.041%	$592K	$8.4M	10x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,504.2	−0.033%	$780K	$158K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,505.5	+0.054%	$62.9M	$170.8M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,504.7	+0.001%	$177.7M	$821.6M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,505.2	+0.033%	$105.5M	$53.6M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,505.4	+0.051%	$164.4M	$280.7M	75x	as long as short
BingX ZEC-USDClong	+0.0100%	8h	1,504.7	long leg	—	$6.6M	—
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,505.4	+0.049%	$2.2M	$3.7M	15x	as long as short
Variational Omni ZEC	+0.0100%	8h	1,503.5	−0.078%	$49.4M	$34.2M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,503.8	−0.058%	$549K	$8.7M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,503.7	−0.065%	$3.1M	$586K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,504.4	−0.019%	$411K	$948K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,506	+0.088%	$112K	$4.5M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,504.8	+0.010%	$371K	$1.6M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,504.6	−0.006%	$167K	$188K	20x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,507.3	+0.176%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,505	+0.024%	$258K	$3.6M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,503.8	−0.057%	$2.7M	$20.5M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,504.9	+0.016%	$4.0M	$4.8M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,505.3	+0.046%	$2.7M	$7.1M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,504.6	−0.001%	$37K	$163K	20x	as long as short
Phoenix ZEC	+0.0139%	1h	1,503.9	−0.053%	$4.8M	$1.3M	10x	as long as short
dYdX ZEC-USD	+0.0144%	1h	1,504.1	−0.037%	$414K	$37K	5x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0184% / S −0.0195%	1h	1,504.4	−0.018%	$350K	—	100x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0221%	1h	1,505.8	+0.075%	$686K	$1.3M	25x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0352%	1h	1,506.8	+0.140%	$3.9M	$9.5M	50x	as long as short