Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.002%

Price spread now: Popdex against edgeX+0.141%7-day average +0.062% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$180.178% of the position

Long on edgeX Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.008%−$1 on $10k

Price spread, last 7 days−0.107%−$11 · spread now +0.141%, 7d avg +0.062%

Together, before fees−0.115%+ Points / potential airdropedgeX: Active · farm board−$11 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Popdex is 0.079% dearer against edgeX than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.062%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ZECUSDC	1,461.5	0.0100	pay 0.0050% / 4h	3h 09m	$569K	$8.5M	20x
Short	Popdex ZECUSDT	1,463.6	0.0096	get 0.0012% / 1h	9m 23s	$174K	$1.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now +0.141%Rate

Funding earned: −$0.84
Price spread: +0.141% → +0.062%: $7.95
Slippage, 4 orders: −$2.42
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$10.71
Costs to cover: 0.178%
Break-even: never at this rate

Slippage from edgeX: live order book, 5 min ago; Popdex: 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 edgeX live order book, 5 min ago	0.34 bp	4.9 bp −$5	8.8 bp −$88	doesn't fit	doesn't fit
Sell Popdex live order book, 5 min ago	0.72 bp	4.1 bp −$4	7.5 bp −$75	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	−0.3042%	1h	1,463	+0.102%	$34K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,466.3	+0.325%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0071%	8h	1,466.1	+0.313%	$29.7M	$71.0M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,463.5	+0.136%	$407K	$37K	5x	as long as short
Perpl ZEC	0.0000%	43m	1,463.8	+0.157%	$84K	$239K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,462.8	+0.083%	$5.2M	—	150x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0016%	1h	1,463.9	+0.161%	$616K	$1.3M	25x	as long as short
Orderly PERP_ZEC_USDC	+0.0063%	8h	1,462.4	+0.059%	$292K	$900K	20x	as long as short
Ondo Perps ZEC-USD.P	+0.0070%	1h	1,462.1	+0.038%	$397K	$436K	5x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0088% / S −0.0040%	1h	1,462.6	+0.072%	$437K	—	100x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex ZECUSDTshort	+0.0096%	1h	1,463.6	+0.141%	$174K	$1.6M	50x
Katana Perps ZEC-USD	+0.0100%	8h	1,464.3	+0.187%	$14K	$801K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,464.6	+0.209%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,464.4	+0.198%	$2.9M	$6.4M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,462.9	+0.096%	$14.5M	$27.8M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,464.6	+0.209%	$1.7M	$2.3M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,462.6	+0.074%	$673.2M	$2.17B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,462	+0.028%	$262.0M	$587.6M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,462.2	+0.045%	$179.1M	$1.20B	50x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,460.6	−0.064%	$882K	$17K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,462.7	+0.079%	$52.2M	$173.3M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,463	+0.096%	$219.2M	$775.3M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,464.2	+0.180%	$103.1M	$53.1M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,463.7	+0.144%	$166.1M	$267.4M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,464	+0.166%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,464.4	+0.196%	$48.0M	$32.5M	—	as long as short
edgeX ZECUSDClong	+0.0100%	4h	1,461.5	long leg	$569K	$8.5M	20x
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,463.2	+0.111%	$3.0M	$464K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,461.4	−0.011%	$404K	$945K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,464	+0.168%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,463.3	+0.120%	$358K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,462.5	+0.062%	$161K	$186K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,461.4	−0.008%	$446K	$504K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,465.9	+0.297%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,463.6	+0.137%	$234K	$3.1M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,462.2	+0.046%	$2.7M	$18.2M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,463.2	+0.115%	$3.9M	$4.9M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,463.9	+0.159%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,462.4	+0.061%	$47K	$151K	20x	as long as short
Phoenix ZEC	+0.0116%	1h	1,464.7	+0.218%	$4.7M	$1.3M	10x	as long as short
01 Exchange ZECUSD	+0.0120%	1h	1,464	+0.170%	$8K	$7K	5x	as long as short
Lighter RH ZEC	+0.0128%	1h	1,465.8	+0.291%	$2.1M	$7.0M	10x	as long as short
Hyperliquid ZEC	+0.0146%	1h	1,464.8	+0.223%	$763.3M	$419.3M	10x	as long as short
Lighter ZEC	+0.0168%	1h	1,465.7	+0.283%	$19.4M	$45.4M	20x	as long as short
Kalshi KXZECPERP	+0.0179%	8h	1,464.8	+0.225%	$1.5M	$4.4M	2.2x	as long as short
RISEx ZEC/USDC	+0.0216%	1h	1,463.9	+0.163%	$926K	$1.1M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0299%	1h	1,464	+0.170%	$2.4M	$3.8M	15x	as long as short
Kraken Futures PF_ZECUSD	+0.0331%	1h	1,463.4	+0.125%	$18.0M	$45.4M	25x	as long as short
Arcus ZEC-USD	+0.0344%	1h	1,465.1	+0.247%	$677K	$8.1M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0464%	1h	1,468.4	+0.466%	$3.8M	$9.1M	50x	as long as short
Aftermath Perps ZECUSD	+0.0684%	1h	1,463	+0.101%	$45K	$49K	10x	as long as short