Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0348%/8h= −38.1% APRpaid last 24h −0.086%

Price spread now: Bitget against Coinbase International−0.086%7-day average −0.134% · you buy dearer than you sell

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$380.383% of the position

Long on Coinbase International Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.263%−$26 on $10k

Price spread, last 4 days (all we have)−0.749%−$75 · spread now −0.086%, 7d avg −0.134%

Together, before fees−1.012%−$101 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.048% dearer against Coinbase International than usual: you sell high and buy low (spread −0.086% now, against its 7-day average of −0.134%): +$5 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 11 hours. At the pace of the last 7 days (−0.263% in total) that is about 31 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ZEC-PERP-INTX	1,457.4	0.0448	pay 0.0056% / 1h	31m 08s	$3.8M	$9.0M	50x
Short	Bitget ZECUSDT	1,456.2	0.0100	get 0.0100% / 8h	4h 31m	$165.4M	$271.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.086%Rate

Funding earned: −$73.08
Price spread: −0.086% → −0.134%: $4.8
Slippage, 4 orders: −$16.29
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$106.57
Costs to cover: 0.383%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 3 min ago; Bitget: 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 Coinbase International live order book, 3 min ago	1.37 bp	11.8 bp −$12	16.2 bp −$162	50.6 bp −$5,065	doesn't fit
Sell Bitget live order book, 3 min ago	0.03 bp	7.3 bp −$7	11.7 bp −$117	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	−0.3166%	1h	1,455.5	−0.129%	$34K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,455.5	−0.134%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0067%	8h	1,455.9	−0.106%	$29.2M	$70.8M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,454.5	−0.198%	$410K	$38K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,455	−0.164%	$1.5M	$4.5M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,456.2	−0.087%	$83K	$240K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,455.8	−0.113%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0061%	8h	1,455.8	−0.114%	$291K	$956K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0067% / S −0.0018%	1h	1,455.6	−0.123%	$409K	—	100x	as long as short
01 Exchange ZECUSD	+0.0080%	1h	1,456.5	−0.061%	$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	1,456	−0.099%	$174K	$1.7M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,455.8	−0.114%	$11K	$859K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,456.2	−0.083%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,456.3	−0.080%	$2.5M	$6.3M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,457.1	−0.022%	$757.8M	$432.3M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,456	−0.096%	$14.5M	$27.5M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,456.3	−0.079%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,455.8	−0.108%	$668.2M	$2.21B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,455.5	−0.133%	$262.4M	$601.2M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,456	−0.097%	$177.9M	$1.22B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,452.5	−0.338%	$395K	$440K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,454	−0.237%	$877K	$29K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,455.9	−0.103%	$50.1M	$173.7M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,455.9	−0.102%	$217.3M	$771.2M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,456.2	−0.084%	$102.2M	$54.1M	75x	as long as short
Bitget ZECUSDTshort	+0.0100%	8h	1,456.2	−0.086%	$165.4M	$271.1M	75x
BingX ZEC-USDT	+0.0100%	8h	1,456.1	−0.089%	—	$102.2M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,456.4	−0.073%	$2.4M	$3.9M	15x	as long as short
Variational Omni ZEC	+0.0100%	8h	1,455	−0.165%	$47.6M	$32.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,454.6	−0.193%	$566K	$8.6M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,454.8	−0.178%	$3.0M	$437K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,454.8	−0.177%	$405K	$926K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,454.6	−0.191%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,455.7	−0.118%	$366K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,455.9	−0.107%	$160K	$184K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,454.7	−0.184%	$444K	$521K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,458.2	+0.056%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,455.6	−0.123%	$233K	$3.4M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,455.4	−0.141%	$2.6M	$18.2M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,455.4	−0.141%	$3.8M	$5.1M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,455.6	−0.122%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,455.6	−0.124%	$47K	$151K	20x	as long as short
Phoenix ZEC	+0.0123%	1h	1,455.9	−0.103%	$4.6M	$1.3M	10x	as long as short
Kraken Futures PF_ZECUSD	+0.0277%	1h	1,455.9	−0.105%	$18.0M	$44.9M	25x	as long as short
Lighter ZEC	+0.0320%	1h	1,457.3	−0.007%	$19.2M	$45.9M	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0378%	1h	1,456.6	−0.055%	$609K	$1.3M	25x	as long as short
RISEx ZEC/USDC	+0.0412%	1h	1,456.2	−0.082%	$922K	$1.1M	10x	as long as short
Coinbase International ZEC-PERP-INTXlong	+0.0448%	1h	1,457.4	long leg	$3.8M	$9.0M	50x
Lighter RH ZEC	+0.0480%	1h	1,457.8	+0.024%	$2.0M	$6.9M	10x	as long as short
Arcus ZEC-USD	+0.0626%	1h	1,457.5	+0.003%	$701K	$8.3M	10x	as long as short
Aftermath Perps ZECUSD	+0.0676%	1h	1,454.4	−0.204%	$44K	$49K	10x	as long as short