Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0368%/8h= −40.3% APRpaid last 24h −0.082%

Price spread now: Gate against Coinbase International−0.140%7-day average −0.129% · you buy dearer than you sell

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$470.473% of the position

Long on Coinbase International Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.158%−$16 on $10k

Price spread, last 3 days (all we have)−0.686%−$69 · spread now −0.140%, 7d avg −0.129%

Together, before fees−0.844%−$84 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.129%, so right now this pair is about funding alone: −$11 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.158% in total (about -8.3% 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	1,459.2	0.0440	pay 0.0055% / 1h	15m 18s	$3.8M	$11.5M	50x
Short	Gate ZEC_USDT	1,457.2	0.0072	get 0.0072% / 8h	2h 15m	$49.3M	$190.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.140%Rate

Funding earned: −$77.28
Price spread: −0.140% → −0.129%: −$1.05
Slippage, 4 orders: −$22.27
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$125.6
Costs to cover: 0.473%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 min ago; Gate: live order book, 4 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, 4 min ago	1.85 bp	12.3 bp −$12	16.4 bp −$164	44.5 bp −$4,451	doesn't fit
Sell Gate live order book, 4 min ago	0.03 bp	8.2 bp −$8	13.8 bp −$138	29.5 bp −$2,946	52.9 bp −$26.4K

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	−1.789%	$33K	$275K	12x	as long as short
BloFin ZEC-USDT	−0.0085%	8h	1,457.2	−0.143%	$28.7M	$75.4M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,457.1	−0.147%	$6K	$2K	10x	as long as short
Kraken Futures PF_ZECUSD	−0.0071%	1h	1,457.4	−0.125%	$17.7M	$44.6M	25x	as long as short
Bybit ZECUSDT	−0.0004%	8h	1,456.5	−0.186%	$268.9M	$677.4M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,457.2	−0.141%	$410K	$106K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,458.6	−0.041%	$934K	$5.7M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,457	−0.154%	$83K	$401K	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	0.0000%	1h	1,458	−0.083%	$593K	$1.3M	25x	as long as short
Variational Omni ZEC	+0.0002%	8h	1,456.6	−0.182%	$45.6M	$33.4M	—	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,457.7	−0.103%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0016%	8h	1,457.4	−0.123%	$292K	$1.5M	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0019% / S +0.0072%	1h	1,457.6	−0.113%	$557K	—	100x	as long as short
01 Exchange ZECUSD	+0.0048%	1h	1,457.8	−0.100%	$8K	$8K	5x	as long as short
OKX ZEC-USDT-SWAP	+0.0057%	8h	1,457.4	−0.128%	$173.8M	$1.36B	50x	as long as short
Gate ZEC_USDTshort	+0.0072%	8h	1,457.2	−0.140%	$49.3M	$190.7M	75x
Ondo Perps ZEC-USD.P	+0.0075%	1h	1,452.8	−0.441%	$395K	$519K	5x	as long as short
Katana Perps ZEC-USD	+0.0095%	8h	1,457.3	−0.136%	$15K	$871K	10x	as long as short
Aster ZECUSDT	+0.0095%	8h	1,457.4	−0.127%	$15.3M	$34.1M	75x	as long as short
Lighter ZEC	+0.0096%	1h	1,458.9	−0.022%	$18.8M	$54.7M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,457.2	−0.143%	$173K	$2.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,457.3	−0.135%	$60K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,457.7	−0.109%	$2.5M	$7.1M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,458	−0.085%	$753.9M	$495.1M	10x	as long as short
Pacifica ZEC	+0.0100%	1h	1,457.7	−0.103%	$1.6M	$3.0M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,457.6	−0.110%	$664.9M	$2.53B	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,457.3	−0.133%	$217.6M	$898.1M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,457.1	−0.146%	$103.1M	$57.0M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,457.5	−0.120%	$161.4M	$312.5M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,457.6	−0.116%	—	$101.4M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,457.4	−0.123%	$2.3M	$4.1M	15x	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,455.2	−0.277%	$489K	$9.6M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,456.7	−0.171%	$3.0M	$510K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,456.7	−0.175%	$428K	$814K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,457.9	−0.094%	$109K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,456.9	−0.160%	$344K	$2.0M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,457.3	−0.135%	$127K	$161K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,456.2	−0.210%	$443K	$498K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,459.5	+0.021%	$3K	$1.3M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,457.4	−0.127%	$221K	$4.7M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,457.2	−0.143%	$2.4M	$24.9M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,457.5	−0.117%	$3.8M	$5.4M	50x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,455	−0.291%	$896K	$26K	10x	as long as short
Phoenix ZEC	+0.0103%	1h	1,457.5	−0.120%	$4.6M	$1.6M	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,457.7	−0.107%	$3.3M	$6.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,457.5	−0.121%	$36K	$362K	20x	as long as short
RISEx ZEC/USDC	+0.0219%	1h	1,457.9	−0.090%	$863K	$1.8M	10x	as long as short
Coinbase International ZEC-PERP-INTXlong	+0.0440%	1h	1,459.2	long leg	$3.8M	$11.5M	50x
Aftermath Perps ZECUSD	+0.0464%	1h	1,457.2	−0.140%	$40K	$34K	10x	as long as short
Arcus ZEC-USD	+0.0518%	1h	1,458.8	−0.029%	$750K	$8.0M	10x	as long as short
Lighter RH ZEC	+0.0616%	1h	1,459.6	+0.021%	$1.9M	$8.5M	10x	as long as short