Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.3410%/8h= −373.4% APRpaid last 24h −0.427%

Price spread now: Injective against edgeX−0.327%7-day average +0.157% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on edgeX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−2.355%−$235 on $10k

Price spread, last 3 days (all we have)+1.212%+$121 · spread now −0.327%, 7d avg +0.157%

Together, before fees−1.143%+ Points / potential airdropedgeX: Active · farm board−$114 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$102 a day on $10k at the current rate, and Injective is 0.484% cheaper against edgeX than usual: you would sell low and buy high (−$48 if the spread goes back to its 7-day average of +0.157%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -2.355% in total (about -122.8% 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	edgeX ZECUSDC	1,467.7	0.0100	pay 0.0050% / 4h	1h 52m	$511K	$9.5M	20x
Short	Injective ZEC/USDC PERP	1,462.9	−0.3310	pay 0.0414% / 1h	52m 56s	$34K	$275K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.327%Rate

Funding earned: −$716.04
Price spread: −0.327% → +0.157%: −$48.42
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$773.48
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: edgeX: live order book, 1 min ago; Injective: live order book, 31 min ago. Net counts fees only.

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, 1 min ago	0.41 bp	5.1 bp −$5	9.0 bp −$90	doesn't fit	doesn't fit
Sell Injective live order book, 31 min ago	50.93 bp	doesn't fit	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 PERPshort	−0.3310%	1h	1,462.9	−0.327%	$34K	$275K	12x
Kraken Futures PF_ZECUSD	−0.0406%	1h	1,461.6	−0.416%	$17.8M	$44.8M	25x	as long as short
Ondo Perps ZEC-USD.P	−0.0104%	1h	1,466	−0.118%	$398K	$518K	5x	as long as short
BloFin ZEC-USDT	−0.0094%	8h	1,461.5	−0.428%	$28.9M	$75.7M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,464	−0.255%	$6K	$2K	10x	as long as short
Bybit ZECUSDT	−0.0046%	8h	1,461.2	−0.444%	$270.1M	$679.3M	75x	as long as short
Variational Omni ZEC	−0.0022%	8h	1,467.5	−0.014%	$46.8M	$34.4M	—	as long as short
dYdX ZEC-USD	0.0000%	1h	1,461.6	−0.417%	$412K	$106K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,462.1	−0.387%	$937K	$5.6M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,461.9	−0.401%	$83K	$401K	10x	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-PERPETUAL	0.0000%	1h	1,462.5	−0.356%	$595K	$1.3M	25x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,462	−0.392%	$5.2M	—	150x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0009% / S +0.0078%	1h	1,461.5	−0.424%	$559K	—	100x	as long as short
Orderly PERP_ZEC_USDC	+0.0015%	8h	1,461.2	−0.447%	$293K	$1.5M	20x	as long as short
01 Exchange ZECUSD	+0.0048%	1h	1,461.4	−0.431%	$8K	$8K	5x	as long as short
OKX ZEC-USDT-SWAP	+0.0052%	8h	1,461.9	−0.398%	$175.3M	$1.37B	50x	as long as short
Gate ZEC_USDT	+0.0056%	8h	1,461.8	−0.402%	$49.9M	$183.4M	75x	as long as short
Phoenix ZEC	+0.0075%	1h	1,467	−0.051%	$4.6M	$1.6M	10x	as long as short
Katana Perps ZEC-USD	+0.0096%	8h	1,461.4	−0.432%	$14K	$866K	10x	as long as short
Lighter ZEC	+0.0096%	1h	1,462.9	−0.328%	$18.9M	$52.3M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,461.4	−0.433%	$173K	$2.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,460.9	−0.469%	$60K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,461.9	−0.397%	$2.5M	$7.0M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,462.7	−0.343%	$758.8M	$488.4M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,461.5	−0.428%	$15.3M	$33.8M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,461.2	−0.444%	$1.7M	$3.1M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,461.8	−0.407%	$669.2M	$2.53B	75x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,460.8	−0.473%	$899K	$25K	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,461.9	−0.398%	$220.4M	$850.4M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,462	−0.391%	$103.2M	$57.0M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,461.9	−0.395%	$161.7M	$310.3M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,461.7	−0.413%	—	$102.8M	—	as long as short
edgeX ZECUSDClong	+0.0100%	4h	1,467.7	long leg	$511K	$9.5M	20x
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,466.2	−0.102%	$3.0M	$492K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,466.8	−0.062%	$431K	$818K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,464.8	−0.201%	$110K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,461.6	−0.418%	$342K	$2.0M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,461.1	−0.450%	$127K	$160K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,459.9	−0.537%	$446K	$503K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,463.9	−0.262%	$3K	$1.3M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,461.5	−0.424%	$222K	$4.7M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,461	−0.459%	$2.4M	$24.4M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,462.2	−0.380%	$3.8M	$5.4M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,462.4	−0.367%	$3.3M	$7.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,461.5	−0.426%	$36K	$362K	20x	as long as short
RISEx ZEC/USDC	+0.0190%	1h	1,461.5	−0.427%	$842K	$1.8M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0267%	1h	1,462.4	−0.365%	$2.3M	$4.0M	15x	as long as short
Lighter RH ZEC	+0.0424%	1h	1,463.7	−0.275%	$2.0M	$8.2M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0424%	1h	1,463.7	−0.274%	$3.7M	$11.7M	50x	as long as short
Arcus ZEC-USD	+0.0444%	1h	1,461.8	−0.405%	$739K	$8.1M	10x	as long as short
Aftermath Perps ZECUSD	+0.0519%	1h	1,464.5	−0.222%	$40K	$34K	10x	as long as short