Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0513%/8h= −56.2% APRpaid last 24h −0.148%

Price spread now: BloFin against Coinbase International−0.051%7-day average −0.113% · you buy dearer than you sell

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$380.379% of the position

Long on Coinbase International Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.286%−$29 on $10k

Price spread, last 3 days (all we have)−0.224%−$22 · spread now −0.051%, 7d avg −0.113%

Together, before fees−0.509%−$51 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.062% dearer against Coinbase International than usual: you sell high and buy low (spread −0.051% now, against its 7-day average of −0.113%): +$6 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 10 hours. At the pace of the last 7 days (−0.286% in total) that is about 37 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.286% in total (about -14.9% 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	Coinbase International ZEC-PERP-INTX	1,462.6	0.0424	pay 0.0053% / 1h	36m 40s	$3.7M	$11.6M	50x
Short	BloFin ZEC-USDT	1,461.8	−0.0089	pay 0.0089% / 8h	1h 36m	$29.3M	$75.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.051%Rate

Funding earned: −$107.73
Price spread: −0.051% → −0.113%: $6.22
Slippage, 4 orders: −$15.85
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$139.37
Costs to cover: 0.379%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 2 min ago; BloFin: 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 Coinbase International live order book, 2 min ago	1.74 bp	12.0 bp −$12	14.0 bp −$140	46.3 bp −$4,632	doesn't fit
Sell BloFin live order book, 2 min ago	0.89 bp	6.9 bp −$7	8.0 bp −$80	11.3 bp −$1,132	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	−0.3310%	1h	1,462.2	−0.025%	$34K	$275K	12x	as long as short
Kraken Futures PF_ZECUSD	−0.0405%	1h	1,462.1	−0.032%	$17.8M	$44.8M	25x	as long as short
Ondo Perps ZEC-USD.P	−0.0220%	1h	1,459.3	−0.225%	$396K	$518K	5x	as long as short
BloFin ZEC-USDTshort	−0.0089%	8h	1,461.8	−0.051%	$29.3M	$75.2M	75x
Hotstuff ZEC-PERP	−0.0080%	1h	1,462.2	−0.029%	$6K	$2K	10x	as long as short
Bybit ZECUSDT	−0.0050%	8h	1,461.3	−0.091%	$270.6M	$673.8M	75x	as long as short
Variational Omni ZEC	−0.0026%	8h	1,465.3	+0.182%	$46.6M	$34.0M	—	as long as short
ApeX Omni ZECUSDT	−0.0024%	1h	1,463.5	+0.061%	$430K	$820K	50x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L −0.0017% / S +0.0093%	1h	1,462.7	+0.011%	$541K	—	100x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,461.6	−0.067%	$412K	$106K	5x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXZECPERP	0.0000%	8h	1,461.1	−0.099%	$883K	$5.7M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,462	−0.039%	$83K	$404K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,462.4	−0.010%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0014%	8h	1,461.8	−0.054%	$291K	$1.5M	20x	as long as short
Bulk ZEC-USD	+0.0030%	1h	1,466	+0.234%	$905K	$27K	10x	as long as short
OKX ZEC-USDT-SWAP	+0.0047%	8h	1,461.6	−0.071%	$175.6M	$1.35B	50x	as long as short
Gate ZEC_USDT	+0.0048%	8h	1,461.7	−0.060%	$49.9M	$184.8M	75x	as long as short
01 Exchange ZECUSD	+0.0056%	1h	1,462.5	−0.003%	$8K	$8K	5x	as long as short
Phoenix ZEC	+0.0075%	1h	1,461.4	−0.084%	$4.6M	$1.6M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0096%	1h	1,462.9	+0.019%	$595K	$1.3M	25x	as long as short
Katana Perps ZEC-USD	+0.0096%	8h	1,462.6	+0.001%	$14K	$862K	10x	as long as short
Lighter ZEC	+0.0096%	1h	1,463.5	+0.062%	$18.9M	$52.5M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,462.1	−0.031%	$173K	$1.9M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,461.5	−0.073%	$60K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,461.6	−0.065%	$2.5M	$6.9M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,463.1	+0.035%	$758.3M	$484.8M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,461.8	−0.057%	$15.6M	$33.3M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,462.5	−0.008%	$1.7M	$3.0M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,462	−0.042%	$673.6M	$2.50B	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,462	−0.039%	$222.3M	$859.7M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,461.9	−0.047%	$103.6M	$56.2M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,461.8	−0.053%	$161.7M	$306.8M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,462.1	−0.031%	—	$103.3M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,463.4	+0.053%	$509K	$9.5M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,462.3	−0.017%	$3.0M	$481K	10x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,462.9	+0.024%	$109K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,462	−0.040%	$343K	$1.9M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,462.3	−0.019%	$127K	$160K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,460.4	−0.151%	$446K	$502K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,463.9	+0.092%	$3K	$1.3M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,461.8	−0.055%	$222K	$4.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,460	−0.175%	$2.5M	$24.1M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,462.3	−0.020%	$3.8M	$5.4M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,462.2	−0.028%	$3.2M	$6.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,462.3	−0.019%	$36K	$367K	20x	as long as short
RISEx ZEC/USDC	+0.0190%	1h	1,462.4	−0.011%	$841K	$1.7M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0191%	1h	1,462.9	+0.018%	$2.3M	$3.8M	15x	as long as short
Lighter RH ZEC	+0.0368%	1h	1,464.2	+0.109%	$2.0M	$8.2M	10x	as long as short
Coinbase International ZEC-PERP-INTXlong	+0.0424%	1h	1,462.6	long leg	$3.7M	$11.6M	50x
Arcus ZEC-USD	+0.0444%	1h	1,463.4	+0.057%	$741K	$8.1M	10x	as long as short
Aftermath Perps ZECUSD	+0.0536%	1h	1,464.6	+0.138%	$40K	$34K	10x	as long as short