Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0061%/8h= −6.7% APRpaid last 24h −0.009%

Price spread now: MEXC against Deribit+0.001%7-day average −0.067% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$10as in the Price arb table

costs, in and out, $10k−$170.171% of the position

Long on Deribit Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.137%−$14 on $10k

Price spread, last 4 days (all we have)−0.239%−$24 · spread now +0.001%, 7d avg −0.067%

Together, before fees−0.376%−$38 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.068% dearer against Deribit than usual: you sell high and buy low (spread +0.001% now, against its 7-day average of −0.067%): +$7 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit ZEC_USDC-PERPETUAL	1,504.6	0.0161	pay 0.0020% / 1h	41m 11s	$687K	$1.4M	25x
Short	MEXC ZEC_USDT	1,504.6	0.0100	get 0.0100% / 8h	41m 11s	$239.2M	$792.8M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.001%Rate

Funding earned: −$12.9
Price spread: +0.001% → −0.067%: $6.8
Slippage, 4 orders: −$10.12
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee MEXC: 0 bp × 2 orders: $0
Net: −$23.23
Costs to cover: 0.171%
Break-even: never at this rate

Slippage from Deribit: live order book, 3 min ago; MEXC: 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 Deribit live order book, 3 min ago	4.79 bp	8.3 bp −$8	14.3 bp −$143	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	0.03 bp	0.0 bp $0	0.3 bp −$3	24.5 bp −$2,451	70.6 bp −$35.3K

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	1,504.3	−0.020%	$37K	$275K	12x	as long as short
Perpl ZEC	−0.0447%	43m	1,502.1	−0.164%	$62K	$304K	10x	as long as short
BloFin ZEC-USDT	−0.0180%	8h	1,504.4	−0.012%	$31.0M	$75.8M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,503.9	−0.046%	$6K	$1K	10x	as long as short
Aftermath Perps ZECUSD	−0.0072%	1h	1,501	−0.239%	$48K	$59K	10x	as long as short
Bulk ZEC-USD	−0.0053%	1h	1,497	−0.501%	$904K	$2K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,504.2	−0.026%	$418K	$35K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,503.6	−0.065%	$1.5M	$4.4M	2.2x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,504.3	−0.017%	$5.3M	—	150x	as long as short
Kraken Futures PF_ZECUSD	+0.0012%	1h	1,504.4	−0.012%	$18.1M	$46.7M	25x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_ZEC_USDC	+0.0083%	8h	1,503.5	−0.073%	$303K	$1.1M	20x	as long as short
Phoenix ZEC	+0.0096%	1h	1,505.2	+0.042%	$4.8M	$1.4M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,503.6	−0.063%	$175K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0098%	8h	1,503.9	−0.046%	$14K	$878K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,503.4	−0.079%	$62K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,504.6	+0.006%	$3.1M	$7.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,505.1	+0.036%	$786.5M	$445.6M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,503.9	−0.041%	$14.1M	$31.1M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,504.3	−0.020%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,504.4	−0.007%	$703.8M	$2.31B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,503.8	−0.049%	$270.9M	$623.4M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,504.2	−0.022%	$183.5M	$1.34B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,500.8	−0.250%	$411K	$563K	5x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,503.4	−0.076%	$56.3M	$183.1M	75x	as long as short
MEXC ZEC_USDTshort	+0.0100%	8h	1,504.6	+0.001%	$239.2M	$792.8M	150x
KuCoin ZECUSDTM	+0.0100%	8h	1,504.4	−0.010%	$103.6M	$57.3M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,504	−0.037%	$162.4M	$289.6M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,503.6	−0.064%	—	$118.2M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,501.5	−0.202%	$49.0M	$34.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,503.8	−0.049%	$575K	$9.0M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,500.8	−0.247%	$3.1M	$507K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,499.8	−0.317%	$413K	$945K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,504.9	+0.021%	$56K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,503.7	−0.057%	$359K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,503.8	−0.047%	$165K	$184K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,503	−0.104%	$459K	$500K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,506	+0.097%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,503.9	−0.047%	$254K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,502.8	−0.119%	$2.7M	$20.5M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,504.2	−0.025%	$4.0M	$4.9M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,503.8	−0.049%	$2.8M	$7.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,503.6	−0.062%	$43K	$151K	20x	as long as short
01 Exchange ZECUSD	+0.0112%	1h	1,504	−0.039%	$8K	$6K	5x	as long as short
RISEx ZEC/USDC	+0.0128%	1h	1,503.6	−0.065%	$945K	$1.1M	10x	as long as short
Lighter RH ZEC	+0.0136%	1h	1,505.8	+0.082%	$2.1M	$7.4M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0161% / S −0.0199%	1h	1,504.2	−0.022%	$437K	—	100x	as long as short
Deribit ZEC_USDC-PERPETUALlong	+0.0161%	1h	1,504.6	long leg	$687K	$1.4M	25x
Lighter ZEC	+0.0232%	1h	1,505.9	+0.091%	$19.8M	$45.2M	20x	as long as short
Arcus ZEC-USD	+0.0403%	1h	1,504.4	−0.012%	$607K	$8.8M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0416%	1h	1,504.9	+0.022%	$3.7M	$10.2M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0535%	1h	1,504.6	0.000%	$2.4M	$3.9M	15x	as long as short