Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.008%

Price spread now: Popdex against BingX−0.085%56s7-day average +0.088% · you buy dearer than you sell

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−$270.273% of the position

Long on BingX Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.027%+$3 on $10k

Price spread, last 7 days+0.170%+$17 · spread now −0.085%, 7d avg +0.088%

Together, before fees+0.196%+$20 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Popdex is 0.172% cheaper against BingX than usual: you would sell low and buy high, −$17 on $10k if it goes back to its 7-day average of +0.088%. The two prices were read 56 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	1,501.3	0.0100	pay 0.0100% / 8h	46m 37s	—	$6.7M	—
Short	Popdex ZECUSDT	1,500	0.0096	get 0.0012% / 1h	46m 37s	$172K	$1.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now −0.085%Rate

Funding earned: −$0.84
Price spread: −0.085% → +0.088%: −$17.21
Slippage, 4 orders: −$10.94
Fee BingX: 5 bp × 2 orders: −$10
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$45.39
Costs to cover: 0.273%
Break-even: never at this rate

Slippage from BingX: live order book, 5 min ago; Popdex: live order book, 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, 5 min ago	0.13 bp	9.9 bp −$10	15.8 bp −$158	36.8 bp −$3,675	80.7 bp −$40.3K
Sell Popdex live order book, 3 min ago	0.74 bp	5.2 bp −$5	9.6 bp −$96	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	−0.3442%	1h	1,495.7	−0.370%	$37K	$275K	12x	as long as short
Perpl ZEC	−0.0447%	43m	1,499.1	−0.142%	$61K	$303K	10x	as long as short
BloFin ZEC-USDT	−0.0165%	8h	1,500	−0.081%	$31.0M	$75.6M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,500	−0.087%	$6K	$1K	10x	as long as short
Aftermath Perps ZECUSD	−0.0063%	1h	1,496.3	−0.327%	$48K	$59K	10x	as long as short
Bulk ZEC-USD	−0.0053%	1h	1,497	−0.281%	$904K	$2K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,501.2	−0.004%	$417K	$35K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,500.2	−0.071%	$1.5M	$4.5M	2.2x	as long as short
Deribit ZEC_USDC-PERPETUAL	0.0000%	1h	1,500.5	−0.050%	$685K	$1.4M	25x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,500	−0.083%	$5.3M	—	150x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_ZECUSD	+0.0012%	1h	1,500.2	−0.073%	$18.1M	$46.5M	25x	as long as short
Orderly PERP_ZEC_USDC	+0.0083%	8h	1,499.7	−0.105%	$302K	$1.1M	20x	as long as short
Phoenix ZEC	+0.0096%	1h	1,499.7	−0.101%	$4.8M	$1.4M	10x	as long as short
Popdex ZECUSDTshort	+0.0096%	1h	1,500	−0.085%	$172K	$1.8M	50x
Katana Perps ZEC-USD	+0.0098%	8h	1,502.1	+0.056%	$14K	$879K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,501.8	+0.039%	$62K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,500.1	−0.074%	$3.1M	$7.7M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,502.2	+0.063%	$784.8M	$444.5M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,501.3	+0.005%	$14.1M	$31.1M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,502.1	+0.059%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,502	+0.052%	$701.9M	$2.31B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,501.4	+0.012%	$269.1M	$623.7M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,502	+0.047%	$182.8M	$1.34B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,498.6	−0.177%	$410K	$557K	5x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,501.9	+0.043%	$55.8M	$182.3M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,502.1	+0.056%	$249.9M	$789.1M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,501.9	+0.040%	$103.4M	$57.1M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,502.1	+0.055%	$162.1M	$289.2M	75x	as long as short
BingX ZEC-USDClong	+0.0100%	8h	1,501.3	long leg	—	$6.7M	—
Variational Omni ZEC	+0.0100%	8h	1,496.6	−0.310%	$49.0M	$35.0M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,498.5	−0.186%	$573K	$9.0M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,497.2	−0.271%	$3.1M	$507K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,498	−0.220%	$412K	$948K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,498.8	−0.165%	$56K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,499.7	−0.103%	$359K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,499.9	−0.087%	$165K	$184K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,499	−0.149%	$458K	$500K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,502.2	+0.064%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,500	−0.081%	$255K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,498.9	−0.158%	$2.7M	$20.5M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,500.3	−0.065%	$4.0M	$5.0M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,502	+0.052%	$2.8M	$7.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,500	−0.081%	$43K	$151K	20x	as long as short
01 Exchange ZECUSD	+0.0112%	1h	1,500.5	−0.053%	$8K	$7K	5x	as long as short
RISEx ZEC/USDC	+0.0128%	1h	1,502.3	+0.071%	$945K	$1.1M	10x	as long as short
Lighter RH ZEC	+0.0136%	1h	1,503.5	+0.151%	$2.1M	$7.3M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0157% / S −0.0177%	1h	1,499.8	−0.094%	$447K	—	100x	as long as short
Lighter ZEC	+0.0312%	1h	1,502.7	+0.096%	$19.7M	$45.0M	20x	as long as short
Arcus ZEC-USD	+0.0403%	1h	1,502.5	+0.083%	$615K	$8.7M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0416%	1h	1,501.9	+0.041%	$3.7M	$10.1M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0492%	1h	1,500	−0.081%	$2.3M	$3.9M	15x	as long as short