Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0430%/8h= +47.1% APRpaid last 24h +0.008%

Price spread now: Backpack against edgeX+0.185%7-day average +0.440% · you sell dearer than you buy

Net, funding: paid 7d − costs−$61as in the Funding arb table

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

costs, in and out, $10k−$220.222% of the position

Long on edgeX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.386%−$39 on $10k

Price spread, last 7 days−0.756%−$76 · spread now +0.185%, 7d avg +0.440%

Together, before fees−1.142%+ Points / potential airdropedgeX: Active · farm board−$114 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.255% cheaper against edgeX than usual: you would sell low and buy high (spread +0.185% now, against its 7-day average of +0.440%). If the spread goes back, that is −$25 on $10k: about 47 hours of funding at the current rate (+$13 a day). Mind the row above: over the last 7 days funding on this pair cost −0.386%, 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	edgeX ZECUSDC	1,466.9	0.0100	pay 0.0050% / 4h	3h 20m	$571K	$9.2M	20x
Short	Backpack ZEC_USDC_PERP	1,469.6	0.0530	get 0.0066% / 1h	20m 27s	$2.5M	$3.9M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against edgeX. 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 edgeXbpFee BackpackbpOrdersPrice spread, now +0.185%Rate

Funding earned: $90.37
Price spread: +0.185% → +0.440%: −$25.47
Slippage, 4 orders: −$3.17
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Backpack: 5 bp × 2 orders: −$10
Net: $42.73
Costs to cover: 0.222%
Break-even: 3.7 days

Slippage from edgeX: live order book, 4 min ago; Backpack: 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 edgeX live order book, 4 min ago	0.38 bp	4.9 bp −$5	9.8 bp −$98	doesn't fit	doesn't fit
Sell Backpack live order book, 4 min ago	0.03 bp	6.5 bp −$6	17.0 bp −$170	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	−0.3321%	1h	1,468.6	+0.115%	$34K	$275K	12x	as long as short
Kraken Futures PF_ZECUSD	−0.0343%	1h	1,469.6	+0.184%	$17.8M	$43.0M	25x	as long as short
BloFin ZEC-USDT	−0.0114%	8h	1,469.4	+0.165%	$29.8M	$72.9M	75x	as long as short
Ondo Perps ZEC-USD.P	−0.0114%	1h	1,467.4	+0.032%	$399K	$517K	5x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,467.6	+0.044%	$6K	$2K	10x	as long as short
Variational Omni ZEC	−0.0038%	8h	1,469.1	+0.149%	$47.6M	$33.7M	—	as long as short
dYdX ZEC-USD	0.0000%	1h	1,468.4	+0.102%	$414K	$103K	5x	as long as short
01 Exchange ZECUSD	0.0000%	1h	1,467.6	+0.046%	$8K	$9K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,469.5	+0.177%	$958K	$5.2M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,466.8	−0.011%	$83K	$405K	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	1,469.4	+0.165%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0017%	8h	1,469.3	+0.160%	$293K	$1.1M	20x	as long as short
Bybit ZECUSDT	+0.0051%	8h	1,467.2	+0.019%	$273.7M	$633.3M	75x	as long as short
Phoenix ZEC	+0.0054%	1h	1,469.3	+0.164%	$4.6M	$1.6M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0055% / S −0.0010%	1h	1,469	+0.142%	$377K	—	100x	as long as short
OKX ZEC-USDT-SWAP	+0.0056%	8h	1,467.4	+0.032%	$182.0M	$1.30B	50x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,467.2	+0.020%	$173K	$1.9M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,467.4	+0.033%	$19K	$838K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,467.3	+0.028%	$60K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,468.1	+0.079%	$2.6M	$6.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,468.5	+0.107%	$761.3M	$452.1M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,467.6	+0.042%	$14.9M	$31.7M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,467.7	+0.051%	$1.7M	$2.8M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,467.2	+0.017%	$683.5M	$2.37B	75x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,469.6	+0.181%	$702K	$8.5M	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,467.5	+0.042%	$50.8M	$180.0M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,467.4	+0.033%	$229.9M	$827.3M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,467.3	+0.027%	$104.5M	$55.7M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,467.4	+0.033%	$163.4M	$292.2M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,467.7	+0.051%	—	$100.2M	—	as long as short
edgeX ZECUSDClong	+0.0100%	4h	1,466.9	long leg	$571K	$9.2M	20x
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,468.3	+0.095%	$3.0M	$447K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,467.3	+0.028%	$429K	$869K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,468.7	+0.121%	$110K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,467.3	+0.025%	$340K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,467.4	+0.033%	$128K	$159K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,467.6	+0.045%	$457K	$509K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,470.3	+0.233%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,469.4	+0.166%	$242K	$3.9M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,468.6	+0.113%	$2.5M	$21.2M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,469.6	+0.182%	$3.8M	$5.3M	50x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,471.7	+0.325%	$895K	$24K	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,467.8	+0.057%	$3.2M	$7.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,468.9	+0.135%	$54K	$168K	20x	as long as short
Lighter ZEC	+0.0216%	1h	1,468.9	+0.137%	$19.2M	$50.4M	20x	as long as short
RISEx ZEC/USDC	+0.0228%	1h	1,468.4	+0.103%	$852K	$1.1M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0305%	1h	1,470.3	+0.231%	$605K	$1.3M	25x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0448%	1h	1,472.4	+0.370%	$3.7M	$9.6M	50x	as long as short
Backpack ZEC_USDC_PERPshort	+0.0530%	1h	1,469.6	+0.185%	$2.5M	$3.9M	15x
Aftermath Perps ZECUSD	+0.0762%	1h	1,469	+0.138%	$43K	$46K	10x	as long as short
Lighter RH ZEC	+0.0776%	1h	1,469.5	+0.176%	$2.0M	$8.2M	10x	as long as short