Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0020%/8h= +2.2% APRpaid last 24h +0.058%

Price spread now: GMX against BloFin−0.027%7-day average +0.019% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on BloFin Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.056%+$6 on $10k

Price spread, last 3 days (all we have)−0.050%−$5 · spread now −0.027%, 7d avg +0.019%

Together, before fees+0.006%+$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.046% cheaper against BloFin than usual: you would sell low and buy high (spread −0.027% now, against its 7-day average of +0.019%). If the spread goes back, that is −$5 on $10k: about 7.5 days of funding at the current rate (+$1 a day). At the pace of the last 3 days (+0.056% in total) that is about 2.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ZEC-USDT	1,453.5	−0.0092	get 0.0092% / 8h	2h 28m	$29.0M	$75.2M	75x
Short	GMX ZEC/USD [WBTC.b-USDC]	1,453.1	L +0.0027% / S +0.0072%	pay 0.0009% / 1h	28m 40s	$546K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.027%Rate

Funding earned: $4.28
Price spread: −0.027% → +0.019%: −$4.57
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$24.28
Costs to cover: 0.240%
Break-even: 46.7 days

Slippage unknown: BloFin: live order book, 5 min ago; GMX: no order-book sample. Net counts fees only.

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, 5 min ago	0.04 bp	6.2 bp −$6	6.4 bp −$64	13.0 bp −$1,299	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	1,433.1	−1.398%	$33K	$275K	12x	as long as short
BloFin ZEC-USDTlong	−0.0092%	8h	1,453.5	long leg	$29.0M	$75.2M	75x
Hotstuff ZEC-PERP	−0.0080%	1h	1,456.1	+0.182%	$6K	$2K	10x	as long as short
Kraken Futures PF_ZECUSD	−0.0071%	1h	1,453.1	−0.026%	$17.7M	$44.7M	25x	as long as short
Variational Omni ZEC	−0.0001%	8h	1,443	−0.717%	$45.4M	$32.5M	—	as long as short
dYdX ZEC-USD	0.0000%	1h	1,457.9	+0.306%	$411K	$106K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,454.6	+0.079%	$913K	$5.7M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,453.5	+0.003%	$82K	$401K	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0004%	1h	1,454.3	+0.061%	$592K	$1.3M	25x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,453.5	0.000%	$5.1M	—	150x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ZECUSDT	+0.0012%	8h	1,456.3	+0.195%	$268.1M	$675.6M	75x	as long as short
Orderly PERP_ZEC_USDC	+0.0015%	8h	1,453.6	+0.010%	$291K	$1.5M	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]short	L +0.0027% / S +0.0072%	1h	1,453.1	−0.027%	$546K	—	100x
OKX ZEC-USDT-SWAP	+0.0056%	8h	1,457	+0.246%	$172.7M	$1.36B	50x	as long as short
01 Exchange ZECUSD	+0.0072%	1h	1,455.9	+0.166%	$8K	$8K	5x	as long as short
Gate ZEC_USDT	+0.0079%	8h	1,457	+0.241%	$49.4M	$189.7M	75x	as long as short
Aster ZECUSDT	+0.0086%	8h	1,456.7	+0.224%	$15.4M	$34.6M	75x	as long as short
Katana Perps ZEC-USD	+0.0095%	8h	1,456.1	+0.183%	$13K	$873K	10x	as long as short
Lighter ZEC	+0.0096%	1h	1,458.2	+0.326%	$18.8M	$54.5M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,456.5	+0.206%	$173K	$2.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,456.6	+0.217%	$60K	$37K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,454.3	+0.059%	$2.4M	$7.1M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,457.4	+0.271%	$753.0M	$495.9M	10x	as long as short
Pacifica ZEC	+0.0100%	1h	1,457.4	+0.271%	$1.6M	$3.0M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,457.1	+0.248%	$664.2M	$2.53B	75x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,441.6	−0.816%	$392K	$516K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,445	−0.581%	$890K	$32K	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,457.1	+0.249%	$218.4M	$893.7M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,457.3	+0.263%	$103.6M	$56.9M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,456.9	+0.238%	$161.3M	$313.2M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,457.3	+0.265%	—	$6.8M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,454.5	+0.069%	$2.3M	$4.1M	15x	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,444.1	−0.643%	$485K	$9.8M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,445.8	−0.530%	$3.0M	$501K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,445.6	−0.539%	$702K	$608K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,450.5	−0.207%	$109K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,452.9	−0.039%	$350K	$2.0M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,452.9	−0.036%	$127K	$161K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,452.1	−0.093%	$442K	$493K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,455.2	+0.120%	$3K	$1.3M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,453.3	−0.012%	$221K	$4.7M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,453.3	−0.008%	$2.4M	$24.9M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,453.9	+0.030%	$3.7M	$5.4M	50x	as long as short
Phoenix ZEC	+0.0103%	1h	1,452.1	−0.096%	$4.5M	$1.6M	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,457.3	+0.267%	$3.3M	$6.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,453.6	+0.007%	$36K	$362K	20x	as long as short
RISEx ZEC/USDC	+0.0219%	1h	1,457.3	+0.262%	$870K	$1.9M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0440%	1h	1,455.4	+0.133%	$3.7M	$11.4M	50x	as long as short
Aftermath Perps ZECUSD	+0.0459%	1h	1,449.7	−0.262%	$39K	$32K	10x	as long as short
Arcus ZEC-USD	+0.0518%	1h	1,458.7	+0.361%	$754K	$8.0M	10x	as long as short
Lighter RH ZEC	+0.0680%	1h	1,460.1	+0.454%	$2.0M	$8.5M	10x	as long as short