Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0522%/8h= +57.2% APRpaid last 24h +0.136%

Price spread now: Coinbase International against BloFin+0.200%58s7-day average +0.126% · you sell dearer than you buy

Net, funding: paid 7d − costs−$5as in the Funding arb table

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

costs, in and out, $10k−$390.394% of the position

Long on BloFin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.344%+$34 on $10k

Price spread, last 4 days (all we have)+0.113%+$11 · spread now +0.200%, 7d avg +0.126%

Together, before fees+0.457%+$46 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and Coinbase International is 0.074% dearer against BloFin than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.126%. The two prices were read 58 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 0.344% in total (about 17.9% 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	BloFin ZEC-USDT	1,446.4	−0.0074	get 0.0074% / 8h	4h 47m	$29.1M	$70.3M	75x
Short	Coinbase International ZEC-PERP-INTX	1,449.3	0.0448	get 0.0056% / 1h	47m 21s	$3.8M	$9.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against BloFin. 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 BloFinbpFee Coinbase InternationalbpOrdersPrice spread, now +0.200%Rate

Funding earned: $109.7
Price spread: +0.200% → +0.126%: $7.38
Slippage, 4 orders: −$17.38
Fee BloFin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $77.7
Costs to cover: 0.394%
Break-even: 2.0 days

Slippage from BloFin: live order book, 7 min ago; Coinbase International: 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 BloFin live order book, 7 min ago	0.34 bp	6.4 bp −$6	7.6 bp −$76	13.5 bp −$1,349	doesn't fit
Sell Coinbase International live order book, 2 min ago	1.76 bp	14.6 bp −$15	17.5 bp −$175	43.1 bp −$4,307	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	−0.3166%	1h	1,448	+0.105%	$33K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,447.6	+0.080%	$6K	$1K	10x	as long as short
BloFin ZEC-USDTlong	−0.0074%	8h	1,446.4	long leg	$29.1M	$70.3M	75x
dYdX ZEC-USD	0.0000%	1h	1,447	+0.037%	$407K	$40K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,447.7	+0.086%	$1.5M	$4.5M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,448.2	+0.120%	$83K	$240K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,447.7	+0.087%	$5.1M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0058%	8h	1,447.2	+0.053%	$290K	$958K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0064% / S −0.0015%	1h	1,448.2	+0.122%	$407K	—	100x	as long as short
01 Exchange ZECUSD	+0.0072%	1h	1,448.1	+0.118%	$8K	$7K	5x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex ZECUSDT	+0.0096%	1h	1,447.9	+0.100%	$173K	$1.7M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,447.3	+0.059%	$10K	$874K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,447.4	+0.070%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,447.7	+0.090%	$2.5M	$6.3M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,448.8	+0.163%	$753.5M	$434.5M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,447.8	+0.093%	$14.4M	$27.7M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,447.5	+0.071%	$1.6M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,447.9	+0.100%	$664.1M	$2.22B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,447.2	+0.049%	$261.0M	$602.2M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,447.7	+0.085%	$176.8M	$1.22B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,445.7	−0.051%	$394K	$442K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,449.4	+0.207%	$876K	$23K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,447.8	+0.096%	$50.0M	$172.5M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,447.9	+0.098%	$214.9M	$768.3M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,447.8	+0.095%	$101.9M	$54.8M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,447.7	+0.084%	$164.3M	$273.9M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,447.9	+0.099%	—	$100.6M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,447.9	+0.097%	$2.5M	$3.8M	15x	as long as short
Variational Omni ZEC	+0.0100%	8h	1,447.2	+0.049%	$47.4M	$32.8M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,446.4	0.000%	$563K	$8.7M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,447.7	+0.088%	$3.0M	$437K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,446.8	+0.021%	$402K	$920K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,448.1	+0.111%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,447.7	+0.087%	$364K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,448.2	+0.125%	$160K	$185K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,446.4	−0.005%	$442K	$521K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,450.7	+0.292%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,447.1	+0.045%	$232K	$3.4M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,446.4	−0.006%	$2.6M	$18.2M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,447.4	+0.064%	$3.8M	$5.1M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,447.5	+0.076%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,447.1	+0.047%	$47K	$151K	20x	as long as short
Phoenix ZEC	+0.0123%	1h	1,448.9	+0.171%	$4.6M	$1.3M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0259%	1h	1,447.8	+0.096%	$608K	$1.3M	25x	as long as short
Kraken Futures PF_ZECUSD	+0.0279%	1h	1,447	+0.041%	$17.9M	$44.9M	25x	as long as short
Lighter ZEC	+0.0368%	1h	1,448.7	+0.157%	$19.0M	$45.9M	20x	as long as short
RISEx ZEC/USDC	+0.0412%	1h	1,448.1	+0.116%	$931K	$1.1M	10x	as long as short
Lighter RH ZEC	+0.0424%	1h	1,449	+0.177%	$2.0M	$6.9M	10x	as long as short
Coinbase International ZEC-PERP-INTXshort	+0.0448%	1h	1,449.3	+0.200%	$3.8M	$9.0M	50x
Arcus ZEC-USD	+0.0626%	1h	1,449.7	+0.223%	$737K	$8.3M	10x	as long as short
Aftermath Perps ZECUSD	+0.0670%	1h	1,449.2	+0.193%	$44K	$49K	10x	as long as short