Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.009%

Price spread now: GRVT against dYdX+0.153%50s7-day average −0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$104as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1051.046% of the position

Long on dYdX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.002%$0 on $10k

Price spread, last 4 days (all we have)+0.068%+$7 · spread now +0.153%, 7d avg −0.018%

Together, before fees+0.070%+ Points / potential airdropGRVT: Active · farm board+$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and GRVT is 0.171% dearer against dYdX than usual: you sell high and buy low: +$17 more if the spread goes back to its 7-day average of −0.018%. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ZEC-USD	1,448	0	get 0.0000% / 1h	34m 02s	$408K	$106K	5x
Short	GRVT ZEC_USDT_Perp	1,450.3	0.0100	get 0.0100% / 8h	2h 34m	$3.0M	$501K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against dYdX. 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 dYdXbpFee GRVTbpOrdersPrice spread, now +0.153%Rate

Funding earned: $21
Price spread: +0.153% → −0.018%: $17.05
Slippage, 4 orders: −$85.56
Fee dYdX: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$66.5
Costs to cover: 1.046%
Break-even: 29.2 days

Slippage from dYdX: live order book, 55 min ago; GRVT: live order book, 5 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 dYdX live order book, 55 min ago	41.05 bp	46.1 bp −$46	54.1 bp −$541	240.1 bp −$24.0K	1175.4 bp −$587.7K
Sell GRVT live order book, 5 min ago	1.72 bp	6.2 bp −$6	8.0 bp −$80	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	−0.3476%	1h	1,438.5	−0.659%	$33K	$275K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,448.8	+0.054%	$6K	$2K	10x	as long as short
Kraken Futures PF_ZECUSD	−0.0072%	1h	1,446.3	−0.120%	$17.6M	$44.3M	25x	as long as short
BloFin ZEC-USDT	−0.0066%	8h	1,450	+0.136%	$28.8M	$74.7M	75x	as long as short
Variational Omni ZEC	−0.0009%	8h	1,449.1	+0.073%	$45.6M	$32.2M	—	as long as short
dYdX ZEC-USDlong	0.0000%	1h	1,448	long leg	$408K	$106K	5x
Kalshi KXZECPERP	0.0000%	8h	1,448.6	+0.036%	$905K	$5.6M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,448	−0.003%	$82K	$401K	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	0.0000%	1h	1,446.7	−0.091%	$589K	$1.3M	25x	as long as short
Bybit ZECUSDT	+0.0004%	8h	1,443.9	−0.286%	$266.3M	$676.0M	75x	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	1,447.8	−0.018%	$5.1M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0014%	8h	1,446.5	−0.110%	$290K	$1.5M	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0030% / S +0.0070%	1h	1,447.6	−0.034%	$542K	—	100x	as long as short
OKX ZEC-USDT-SWAP	+0.0054%	8h	1,444.5	−0.248%	$170.9M	$1.35B	50x	as long as short
Gate ZEC_USDT	+0.0070%	8h	1,445.4	−0.184%	$49.2M	$187.3M	75x	as long as short
Aster ZECUSDT	+0.0075%	8h	1,446.5	−0.109%	$15.2M	$34.7M	75x	as long as short
01 Exchange ZECUSD	+0.0080%	1h	1,448.5	+0.033%	$8K	$8K	5x	as long as short
Ondo Perps ZEC-USD.P	+0.0093%	1h	1,448.2	+0.011%	$394K	$518K	5x	as long as short
Katana Perps ZEC-USD	+0.0095%	8h	1,448.1	+0.004%	$13K	$871K	10x	as long as short
Lighter ZEC	+0.0096%	1h	1,447.9	−0.007%	$18.7M	$54.3M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,447.9	−0.008%	$177K	$2.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,448.6	+0.039%	$60K	$37K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,448.7	+0.043%	$3.0M	$6.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,446.2	−0.128%	$747.8M	$492.3M	10x	as long as short
Pacifica ZEC	+0.0100%	1h	1,448.9	+0.058%	$1.6M	$3.1M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,444.6	−0.239%	$657.4M	$2.53B	75x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,452.5	+0.307%	$895K	$33K	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,445.9	−0.149%	$218.1M	$889.3M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,447	−0.074%	$103.3M	$56.6M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,444.7	−0.229%	$160.5M	$313.1M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,444	−0.277%	—	$6.8M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,445.9	−0.146%	$2.3M	$4.1M	15x	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,450.9	+0.197%	$487K	$9.7M	20x	as long as short
GRVT ZEC_USDT_Perpshort	+0.0100%	8h	1,450.3	+0.153%	$3.0M	$501K	10x
ApeX Omni ZECUSDT	+0.0100%	1h	1,451.4	+0.232%	$706K	$607K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,450.2	+0.150%	$109K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,447.6	−0.031%	$297K	$2.0M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,447.5	−0.038%	$126K	$161K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,445.1	−0.207%	$439K	$493K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,447.9	−0.009%	$3K	$1.3M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,446.7	−0.096%	$220K	$4.8M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,446.2	−0.130%	$2.4M	$24.8M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,446.1	−0.134%	$3.7M	$5.3M	50x	as long as short
Phoenix ZEC	+0.0103%	1h	1,452.3	+0.296%	$4.6M	$1.6M	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,446.5	−0.108%	$3.2M	$6.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,446.3	−0.120%	$36K	$362K	20x	as long as short
RISEx ZEC/USDC	+0.0219%	1h	1,448.8	+0.053%	$865K	$1.9M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0440%	1h	1,448.6	+0.038%	$3.7M	$11.4M	50x	as long as short
Aftermath Perps ZECUSD	+0.0444%	1h	1,451.1	+0.212%	$39K	$32K	10x	as long as short
Arcus ZEC-USD	+0.0518%	1h	1,450.6	+0.174%	$756K	$7.9M	10x	as long as short
Lighter RH ZEC	+0.0736%	1h	1,447.8	−0.020%	$1.9M	$8.4M	10x	as long as short