Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0324%/8h= −35.5% APRpaid last 24h −0.077%

Price spread now: SunX against Coinbase International+0.082%7-day average −0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$123as in the Funding arb table

Net, price: spread back to 7d avg − costs−$128as in the Price arb table

costs, in and out, $10k−$1391.387% of the position

Long on Coinbase International Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.156%+$16 on $10k

Price spread, last 3 days (all we have)−0.424%−$42 · spread now +0.082%, 7d avg −0.025%

Together, before fees−0.268%−$27 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.107% dearer against Coinbase International than usual: you sell high and buy low (spread +0.082% now, against its 7-day average of −0.025%): +$11 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 26 hours. Mind the row above: over the last 7 days funding on this pair paid +0.156%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.156% in total (about 8.1% 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	1,463.5	0.0424	pay 0.0053% / 1h	37m 52s	$3.7M	$11.6M	50x
Short	SunX ZEC-USDT	1,464.7	0.0100	get 0.0100% / 8h	1h 37m	$3K	$1.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.082%Rate

Funding earned: −$68.04
Price spread: +0.082% → −0.025%: $10.67
Slippage, 4 orders: −$120.75
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$196.12
Costs to cover: 1.387%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 1 min ago; SunX: live order book, 6 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, 1 min ago	1.74 bp	12.0 bp −$12	14.0 bp −$140	46.3 bp −$4,632	doesn't fit
Sell SunX live order book, 6 min ago	29.05 bp	66.9 bp −$67	doesn't fit	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	−0.3310%	1h	1,465.8	+0.151%	$34K	$275K	12x	as long as short
Kraken Futures PF_ZECUSD	−0.0405%	1h	1,462	−0.104%	$17.8M	$44.7M	25x	as long as short
Ondo Perps ZEC-USD.P	−0.0245%	1h	1,466	+0.168%	$398K	$520K	5x	as long as short
BloFin ZEC-USDT	−0.0088%	8h	1,462.7	−0.061%	$29.1M	$75.2M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,462	−0.104%	$6K	$2K	10x	as long as short
Bybit ZECUSDT	−0.0051%	8h	1,459.4	−0.286%	$270.4M	$673.9M	75x	as long as short
Variational Omni ZEC	−0.0026%	8h	1,465.3	+0.117%	$46.6M	$34.0M	—	as long as short
dYdX ZEC-USD	0.0000%	1h	1,462.6	−0.064%	$412K	$106K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,463	−0.037%	$885K	$5.6M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,462.2	−0.094%	$83K	$404K	10x	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	1,462.8	−0.050%	$5.2M	—	150x	as long as short
ApeX Omni ZECUSDT	+0.0007%	1h	1,466.5	+0.204%	$431K	$820K	50x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0009% / S +0.0079%	1h	1,462.7	−0.054%	$541K	—	100x	as long as short
Orderly PERP_ZEC_USDC	+0.0014%	8h	1,462.3	−0.085%	$292K	$1.5M	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0028%	1h	1,462.4	−0.075%	$595K	$1.3M	25x	as long as short
Bulk ZEC-USD	+0.0030%	1h	1,466	+0.169%	$905K	$27K	10x	as long as short
Gate ZEC_USDT	+0.0044%	8h	1,460	−0.241%	$49.8M	$184.7M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0046%	8h	1,460.1	−0.235%	$175.6M	$1.35B	50x	as long as short
01 Exchange ZECUSD	+0.0056%	1h	1,462.3	−0.083%	$8K	$8K	5x	as long as short
Phoenix ZEC	+0.0075%	1h	1,468.3	+0.328%	$4.6M	$1.6M	10x	as long as short
Katana Perps ZEC-USD	+0.0096%	8h	1,462.5	−0.070%	$14K	$862K	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,462	−0.104%	$173K	$1.9M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,462.3	−0.082%	$60K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,463.3	−0.018%	$2.5M	$6.9M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,461.1	−0.170%	$757.2M	$484.7M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,460	−0.245%	$15.6M	$33.3M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,462.8	−0.053%	$1.7M	$3.0M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,460	−0.245%	$672.7M	$2.50B	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,460.3	−0.219%	$220.8M	$859.0M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,460.5	−0.210%	$102.8M	$56.0M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,460.2	−0.230%	$161.5M	$307.2M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,460.7	−0.192%	—	$103.2M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,465.9	+0.159%	$510K	$9.5M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,464.7	+0.077%	$3.0M	$481K	10x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,465.4	+0.126%	$110K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,462.3	−0.085%	$344K	$1.9M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,462.3	−0.087%	$127K	$160K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,460.9	−0.183%	$446K	$502K	6.7x	as long as short
SunX ZEC-USDTshort	+0.0100%	8h	1,464.7	+0.082%	$3K	$1.3M	20x
SoDEX ZEC-USD	+0.0100%	1h	1,462.1	−0.096%	$222K	$4.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,461.5	−0.140%	$2.5M	$24.1M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,462.4	−0.076%	$3.8M	$5.4M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,460.6	−0.203%	$3.3M	$6.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,462.2	−0.095%	$36K	$367K	20x	as long as short
Lighter ZEC	+0.0112%	1h	1,462.6	−0.064%	$18.9M	$52.5M	20x	as long as short
RISEx ZEC/USDC	+0.0190%	1h	1,462.3	−0.081%	$841K	$1.8M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0203%	1h	1,462.4	−0.075%	$2.3M	$3.9M	15x	as long as short
Lighter RH ZEC	+0.0368%	1h	1,463.2	−0.024%	$2.0M	$8.2M	10x	as long as short
Coinbase International ZEC-PERP-INTXlong	+0.0424%	1h	1,463.5	long leg	$3.7M	$11.6M	50x
Arcus ZEC-USD	+0.0444%	1h	1,463.6	+0.006%	$739K	$8.1M	10x	as long as short
Aftermath Perps ZECUSD	+0.0534%	1h	1,465.3	+0.121%	$41K	$34K	10x	as long as short