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Funding arb · Price arb /

ZEC

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 22:00 UTC−0.3576%/8h= −391.5% APRpaid last 24h −0.333%
Price spread now: Injective against BingX+0.178%87s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on BingXShort on Injective
What this pair did over the last
the charts below follow
Funding, last 7 days−1.965%−$197 on $10k
Price spread, last 7 days—no price history on both exchanges yet
Together, before fees—needs both histories
The price spread pays, funding is against you. Injective is 0.178% dearer against BingX than usual: you sell high and buy low (spread +0.178% now, against zero (this spread has no 7-day history yet)): +$18 on $10k if it goes back. Holding the pair costs −$107 a day in funding at the current rate, which eats that in about 4 hours. At the pace of the last 7 days (−1.965% in total) that is about 15 hours. The two prices were read 87 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -1.965% in total (about -102.5% 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.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBingX ZEC-USDC1,451.90.0100pay 0.0100% / 8h2h 55m—$6.8M—
ShortInjective ZEC/USDC PERP1,454.5−0.3476pay 0.0434% / 1h55m 54s$34K$275K12x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Injective 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

Funding earned
−$750.91
Price spread: +0.178% → 0.000%
$17.77
Slippage, 4 orders
no order book: not counted
Fee BingX: 5 bp × 2 orders
−$10
Fee Injective: 0.01 bp × 2 orders
−$0.02
Net
−$743.16
Costs to cover
0.100%
Break-even
from the start
Slippage unknown: BingX: live order book, 12 min ago; Injective: live order book, 33 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy BingX live order book, 12 min ago1.17 bp7.4 bp −$714.2 bp −$14234.0 bp −$3,39681.8 bp −$40.9K
Sell Injective live order book, 33 min ago58.14 bpdoesn't fitdoesn't fitdoesn't fitdoesn't fit

ZEC on 51 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective ZEC/USDC PERPshort−0.3476%1h1,454.5+0.178%$34K$275K12x
Hotstuff ZEC-PERP−0.0080%1h1,452+0.005%$6K$2K10xas long as short
Kraken Futures PF_ZECUSD−0.0071%1h1,452+0.004%$17.6M$44.9M25xas long as short
BloFin ZEC-USDT−0.0059%8h1,450.1−0.123%$29.1M$76.1M75xas long as short
Variational Omni ZEC−0.0041%8h1,455.2+0.229%$46.3M$31.5M—as long as short
Bybit ZECUSDT−0.0018%8h1,452.3+0.027%$268.6M$679.8M75xas long as short
dYdX ZEC-USD0.0000%1h1,453.4+0.102%$409K$106K5xas long as short
Kalshi KXZECPERP0.0000%8h1,453.5+0.107%$848K$5.5M2.2xas long as short
Perpl ZEC0.0000%43m1,452.1+0.009%$82K$400K10xas long as short
Orderly PERP_ZEC_USDC+0.0006%8h1,452.2+0.018%$291K$1.5M20xas long as short
Show all 51 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
gTrade (Gains Network) ZEC/USDL +0.0007% / S −0.0006%1h1,452.5+0.041%$5.1M—150xas long as short
OKX ZEC-USDT-SWAP+0.0034%8h1,452.8+0.059%$172.6M$1.37B50xas long as short
01 Exchange ZECUSD+0.0040%1h1,452.8+0.063%$8K$8K5xas long as short
GMX ZEC/USD [WBTC.b-USDC]L +0.0041% / S +0.0061%1h1,452.4+0.031%$535K—100xas long as short
Phoenix ZEC+0.0045%1h1,455.2+0.223%$4.6M$1.5M10xas long as short
Aster ZECUSDT+0.0047%8h1,452.2+0.016%$15.1M$35.3M75xas long as short
Gate ZEC_USDT+0.0062%8h1,452.8+0.057%$49.2M$184.8M75xas long as short
MEXC ZEC_USDT+0.0092%8h1,452.2+0.019%$213.1M$877.3M150xas long as short
Binance ZECUSDT+0.0094%8h1,452.9+0.065%$661.1M$2.55B75xas long as short
Katana Perps ZEC-USD+0.0095%8h1,452.8+0.062%$17K$886K10xas long as short
Popdex ZECUSDT+0.0096%1h1,452.4+0.035%$178K$2.0M50xas long as short
Paradex ZEC-USD-PERP+0.0100%8h1,453.7+0.124%$60K$37K10xas long as short
Nado ZEC-PERP+0.0100%1h1,452.7+0.054%$3.0M$6.9M10xas long as short
Hyperliquid ZEC+0.0100%1h1,453+0.074%$752.3M$508.8M10xas long as short
Pacifica ZEC+0.0100%1h1,454.1+0.152%$1.6M$3.1M10xas long as short
Ondo Perps ZEC-USD.P+0.0100%1h1,449.9−0.139%$393K$522K5xas long as short
Bulk ZEC-USD+0.0100%1h1,454.9+0.204%$896K$37K10xas long as short
KuCoin ZECUSDTM+0.0100%8h1,452.2+0.021%$103.6M$57.3M75xas long as short
Bitget ZECUSDT+0.0100%8h1,452.8+0.061%$162.4M$317.1M75xas long as short
BingX ZEC-USDClong+0.0100%8h1,451.9long leg—$6.8M—
Backpack ZEC_USDC_PERP+0.0100%1h1,452.7+0.055%$2.3M$4.1M15xas long as short
edgeX ZECUSDC+0.0100%4h1,453.3+0.092%$487K$9.7M20xas long as short
GRVT ZEC_USDT_Perp+0.0100%8h1,452.4+0.030%$3.0M$501K10xas long as short
ApeX Omni ZECUSDT+0.0100%1h1,452.6+0.046%$711K$604K50xas long as short
StandX ZEC-USD+0.0100%1h1,451.1−0.054%$109K$4.8M30xas long as short
Polymarket Perps ZEC-USD+0.0100%1h1,452.1+0.012%$298K$2.1M10xas long as short
Bullet ZEC-USD+0.0100%1h1,452.2+0.016%$127K$161K20xas long as short
Derive ZEC-PERP+0.0100%1h1,451−0.061%$441K$493K6.7xas long as short
SunX ZEC-USDT+0.0100%8h1,455.7+0.258%$3K$1.3M20xas long as short
SoDEX ZEC-USD+0.0100%1h1,452.3+0.028%$219K$4.7M10xas long as short
HTX ZEC-USDT+0.0100%8h1,452.8+0.060%$2.4M$25.3M75xas long as short
Phemex ZECUSDT+0.0100%8h1,451.9−0.001%$3.7M$5.5M50xas long as short
Aevo ZEC-PERP+0.0104%1h1,452.5+0.042%$36K$362K20xas long as short
Lighter ZEC+0.0144%1h1,453.5+0.110%$18.8M$53.6M20xas long as short
RISEx ZEC/USDC+0.0219%1h1,453.2+0.086%$862K$2.5M10xas long as short
Deribit ZEC_USDC-PERPETUAL+0.0287%1h1,453.4+0.098%$568K$1.3M25xas long as short
Extended ZEC-USD+0.0432%1h1,452.8+0.062%$3.3M$7.0M10xas long as short
Coinbase International ZEC-PERP-INTX+0.0440%1h1,454.1+0.149%$3.7M$11.5M50xas long as short
Aftermath Perps ZECUSD+0.0462%1h1,453.8+0.128%$39K$32K10xas long as short
Arcus ZEC-USD+0.0518%1h1,455.2+0.226%$753K$7.8M10xas long as short
Lighter RH ZEC+0.0616%1h1,454.3+0.160%$2.0M$8.4M10xas long as short