Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0038%/8h= +4.1% APRpaid last 24h −0.008%

Price spread now: Binance against Deribit−0.113%7-day average −0.067% · you buy dearer than you sell

Net, funding: paid 7d − costs−$42as in the Funding arb table

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

costs, in and out, $10k−$280.284% of the position

Long on Deribit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.140%−$14 on $10k

Price spread, last 4 days (all we have)−0.174%−$17 · spread now −0.113%, 7d avg −0.067%

Together, before fees−0.313%−$31 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.045% cheaper against Deribit than usual: you would sell low and buy high (spread −0.113% now, against its 7-day average of −0.067%). If the spread goes back, that is −$5 on $10k: about 4.0 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.140%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit ZEC_USDC-PERPETUAL	1,492.1	0.0062	pay 0.0008% / 1h	58m 54s	$681K	$1.4M	25x
Short	Binance ZECUSDT	1,490.4	0.0100	get 0.0100% / 8h	58m 54s	$695.0M	$2.32B	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Deribit. 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 DeribitbpFee BinancebpOrdersPrice spread, now −0.113%Rate

Funding earned: $7.88
Price spread: −0.113% → −0.067%: −$4.54
Slippage, 4 orders: −$11.41
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$25.07
Costs to cover: 0.284%
Break-even: 29.3 days

Slippage from Deribit: live order book, 5 min ago; Binance: live order book, 15 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 Deribit live order book, 5 min ago	4.35 bp	8.7 bp −$9	15.0 bp −$150	doesn't fit	doesn't fit
Sell Binance live order book, 15 min ago	0.03 bp	6.8 bp −$7	7.4 bp −$74	17.6 bp −$1,763	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	−0.3442%	1h	1,481	−0.743%	$36K	$275K	12x	as long as short
Perpl ZEC	−0.0447%	43m	1,490.3	−0.116%	$61K	$304K	10x	as long as short
Ondo Perps ZEC-USD.P	−0.0241%	1h	1,490.3	−0.118%	$407K	$552K	5x	as long as short
BloFin ZEC-USDT	−0.0144%	8h	1,491.3	−0.054%	$30.8M	$75.0M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,489.3	−0.185%	$6K	$1K	10x	as long as short
Aftermath Perps ZECUSD	−0.0019%	1h	1,493	+0.061%	$48K	$64K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,488.6	−0.235%	$414K	$35K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,491.3	−0.055%	$1.5M	$4.7M	2.2x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,491.5	−0.035%	$5.3M	—	150x	as long as short
Kraken Futures PF_ZECUSD	+0.0012%	1h	1,491.7	−0.027%	$18.1M	$46.5M	25x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit ZEC_USDC-PERPETUALlong	+0.0062%	1h	1,492.1	long leg	$681K	$1.4M	25x
Orderly PERP_ZEC_USDC	+0.0081%	8h	1,491.2	−0.060%	$300K	$1.1M	20x	as long as short
Bulk ZEC-USD	+0.0085%	1h	1,492.9	+0.057%	$902K	$7K	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,491.2	−0.059%	$171K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0098%	8h	1,490.9	−0.081%	$12K	$876K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,490.2	−0.123%	$61K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,491.7	−0.024%	$3.1M	$7.7M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,491.8	−0.018%	$778.8M	$447.9M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,489.8	−0.154%	$13.9M	$31.1M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,489.7	−0.156%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDTshort	+0.0100%	8h	1,490.4	−0.113%	$695.0M	$2.32B	75x
Bybit ZECUSDT	+0.0100%	8h	1,489.7	−0.160%	$267.0M	$629.9M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,490.3	−0.116%	$181.5M	$1.34B	50x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,490.4	−0.114%	$55.0M	$181.1M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,490.7	−0.089%	$241.4M	$784.0M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,490.6	−0.098%	$102.7M	$57.3M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,490.3	−0.119%	$160.4M	$289.8M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,490.1	−0.130%	—	$118.1M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,489.9	−0.145%	$48.8M	$34.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,491.9	−0.009%	$571K	$9.0M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,490	−0.138%	$3.1M	$499K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,491.8	−0.016%	$411K	$943K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,491.2	−0.057%	$56K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,490.7	−0.091%	$357K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,491.5	−0.036%	$164K	$184K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,493.1	+0.067%	$456K	$500K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,493.6	+0.102%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,491.3	−0.049%	$254K	$3.6M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,491	−0.069%	$2.7M	$20.1M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,491.9	−0.010%	$4.0M	$5.0M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,490.5	−0.103%	$2.7M	$7.9M	10x	as long as short
01 Exchange ZECUSD	+0.0104%	1h	1,491.6	−0.031%	$8K	$7K	5x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,491.3	−0.053%	$43K	$151K	20x	as long as short
RISEx ZEC/USDC	+0.0128%	1h	1,491.5	−0.040%	$939K	$1.1M	10x	as long as short
Phoenix ZEC	+0.0134%	1h	1,490.5	−0.105%	$4.8M	$1.4M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0139% / S −0.0136%	1h	1,491.5	−0.038%	$392K	—	100x	as long as short
Lighter RH ZEC	+0.0192%	1h	1,492.8	+0.052%	$2.1M	$7.3M	10x	as long as short
Arcus ZEC-USD	+0.0221%	1h	1,491.6	−0.034%	$620K	$8.8M	10x	as long as short
Lighter ZEC	+0.0248%	1h	1,492.8	+0.050%	$19.6M	$44.7M	20x	as long as short
Backpack ZEC_USDC_PERP	+0.0398%	1h	1,492.2	+0.011%	$2.3M	$3.9M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0416%	1h	1,493.9	+0.124%	$3.7M	$10.1M	50x	as long as short