Funding arb · Price arb /

ZEC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0380%/8h= −41.6% APRpaid last 24h −0.094%

Price spread now: Aster against Coinbase International−0.094%7-day average −0.141% · 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−$30as in the Price arb table

costs, in and out, $10k−$340.343% of the position

Long on Coinbase International Short on Aster

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)−0.323%−$32 on $10k

Price spread, last 4 days (all we have)−0.253%−$25 · spread now −0.094%, 7d avg −0.141%

Together, before fees−0.575%+ Points / potential airdropAster: Stage 5 · farm board−$58 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aster is 0.048% dearer against Coinbase International than usual: you sell high and buy low (spread −0.094% now, against its 7-day average of −0.141%): +$5 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 10 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ZEC-PERP-INTX	1,495.8	0.0480	pay 0.0060% / 1h	4m 10s	$3.7M	$10.1M	50x
Short	Aster ZECUSDT	1,494.3	0.0100	get 0.0100% / 8h	1h 04m	$14.0M	$31.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Coinbase International. 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 Coinbase InternationalbpFee AsterbpOrdersPrice spread, now −0.094%Rate

Funding earned: −$79.8
Price spread: −0.094% → −0.141%: $4.77
Slippage, 4 orders: −$16.3
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$109.34
Costs to cover: 0.343%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 5 min ago; Aster: live order book, 5 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 Coinbase International live order book, 5 min ago	1.37 bp	9.7 bp −$10	11.9 bp −$119	47.5 bp −$4,746	doesn't fit
Sell Aster live order book, 5 min ago	0.27 bp	5.9 bp −$6	8.0 bp −$80	19.5 bp −$1,945	97.6 bp −$48.8K

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	−0.3684%	1h	1,479.6	−1.080%	$36K	$275K	12x	as long as short
Perpl ZEC	−0.0447%	43m	1,493.9	−0.126%	$61K	$304K	10x	as long as short
BloFin ZEC-USDT	−0.0143%	8h	1,494.8	−0.063%	$30.9M	$75.1M	75x	as long as short
Kraken Futures PF_ZECUSD	−0.0096%	1h	1,494.2	−0.106%	$18.1M	$46.6M	25x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,496	+0.013%	$6K	$1K	10x	as long as short
Aftermath Perps ZECUSD	−0.0004%	1h	1,495.2	−0.037%	$48K	$64K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,495	−0.052%	$415K	$35K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,495.8	+0.003%	$1.5M	$4.7M	2.2x	as long as short
Deribit ZEC_USDC-PERPETUAL	0.0000%	1h	1,494.4	−0.093%	$682K	$1.4M	25x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,494.4	−0.090%	$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
Orderly PERP_ZEC_USDC	+0.0080%	8h	1,493.7	−0.138%	$301K	$1.1M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,494.5	−0.084%	$171K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0097%	8h	1,494.5	−0.083%	$12K	$876K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,494.8	−0.067%	$62K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,495.9	+0.013%	$3.1M	$7.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,495.8	+0.003%	$780.9M	$446.8M	10x	as long as short
Aster ZECUSDTshort	+0.0100%	8h	1,494.3	−0.094%	$14.0M	$31.1M	75x
Pacifica ZEC	+0.0100%	1h	1,496.3	+0.034%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,494.9	−0.057%	$696.8M	$2.31B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,494.2	−0.107%	$267.7M	$630.3M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,494.9	−0.055%	$182.4M	$1.34B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,494.1	−0.110%	$408K	$554K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,494.2	−0.101%	$903K	$7K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,494.9	−0.056%	$55.2M	$187.3M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,494.4	−0.093%	$242.8M	$799.9M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,494.9	−0.058%	$102.9M	$57.3M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,495.2	−0.037%	$160.8M	$289.8M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,494.5	−0.082%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,495.2	−0.039%	$48.9M	$34.8M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,495.1	−0.042%	$573K	$9.0M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,494.7	−0.068%	$3.1M	$510K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,496.3	+0.039%	$412K	$942K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,495.3	−0.032%	$56K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,493.9	−0.124%	$358K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,494.2	−0.106%	$164K	$184K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,493.1	−0.179%	$456K	$500K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,496.2	+0.028%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,493.9	−0.122%	$254K	$3.6M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,496.2	+0.031%	$2.7M	$20.3M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,495.1	−0.042%	$4.0M	$5.0M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,493.9	−0.126%	$2.8M	$7.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,494.1	−0.107%	$43K	$151K	20x	as long as short
01 Exchange ZECUSD	+0.0120%	1h	1,494.9	−0.058%	$8K	$7K	5x	as long as short
RISEx ZEC/USDC	+0.0129%	1h	1,494.7	−0.070%	$939K	$1.1M	10x	as long as short
Phoenix ZEC	+0.0134%	1h	1,496.6	+0.056%	$4.8M	$1.4M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0137% / S −0.0132%	1h	1,494.5	−0.086%	$393K	—	100x	as long as short
Lighter RH ZEC	+0.0184%	1h	1,495.6	−0.011%	$2.1M	$7.5M	10x	as long as short
Arcus ZEC-USD	+0.0221%	1h	1,495.3	−0.028%	$611K	$8.7M	10x	as long as short
Lighter ZEC	+0.0256%	1h	1,496.5	+0.051%	$19.6M	$47.1M	20x	as long as short
Backpack ZEC_USDC_PERP	+0.0260%	1h	1,495.8	+0.001%	$2.3M	$3.9M	15x	as long as short
Coinbase International ZEC-PERP-INTXlong	+0.0480%	1h	1,495.8	long leg	$3.7M	$10.1M	50x