Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0316%/8h= +34.6% APRpaid last 24h +0.090%

Price spread now: Coinbase International against Gate+0.054%7-day average +0.131% · you sell dearer than you buy

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$480.476% of the position

Long on Gate Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.234%+$23 on $10k

Price spread, last 4 days (all we have)+0.226%+$23 · spread now +0.054%, 7d avg +0.131%

Together, before fees+0.460%+$46 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.076% cheaper against Gate than usual: you would sell low and buy high (spread +0.054% now, against its 7-day average of +0.131%). If the spread goes back, that is −$8 on $10k: about 19 hours of funding at the current rate (+$9 a day). At the pace of the last 7 days (+0.234% in total) that is about 2.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ZEC_USDT	1,507.9	0.0100	pay 0.0100% / 8h	14m 33s	$58.7M	$187.2M	75x
Short	Coinbase International ZEC-PERP-INTX	1,508.7	0.0416	get 0.0052% / 1h	14m 33s	$3.7M	$9.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Gate. 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 GatebpFee Coinbase InternationalbpOrdersPrice spread, now +0.054%Rate

Funding earned: $66.36
Price spread: +0.054% → +0.131%: −$7.65
Slippage, 4 orders: −$22.56
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $11.15
Costs to cover: 0.476%
Break-even: 5.8 days

Slippage from Gate: live order book, 4 min ago; Coinbase International: 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 Gate live order book, 4 min ago	0.03 bp	12.6 bp −$13	18.8 bp −$188	28.0 bp −$2,799	47.3 bp −$23.6K
Sell Coinbase International live order book, 4 min ago	6.68 bp	12.0 bp −$12	18.4 bp −$184	57.6 bp −$5,757	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	−0.3442%	1h	1,479.6	−1.878%	$36K	$275K	12x	as long as short
Perpl ZEC	−0.0447%	43m	1,506.1	−0.117%	$62K	$303K	10x	as long as short
BloFin ZEC-USDT	−0.0171%	8h	1,509	+0.070%	$31.1M	$76.4M	75x	as long as short
Bulk ZEC-USD	−0.0108%	1h	1,495.7	−0.808%	$810K	$100K	10x	as long as short
Aftermath Perps ZECUSD	−0.0083%	1h	1,500.7	−0.478%	$48K	$58K	10x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,505.2	−0.179%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,507.3	−0.037%	$419K	$34K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,511.3	+0.226%	$1.5M	$4.4M	2.2x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,506.1	−0.123%	$5.4M	—	150x	as long as short
Kraken Futures PF_ZECUSD	+0.0012%	1h	1,507.9	−0.003%	$18.1M	$47.2M	25x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ZEC-USD.P	+0.0063%	1h	1,507.4	−0.033%	$411K	$559K	5x	as long as short
Orderly PERP_ZEC_USDC	+0.0083%	8h	1,505.6	−0.155%	$303K	$864K	20x	as long as short
01 Exchange ZECUSD	+0.0088%	1h	1,508.5	+0.041%	$8K	$6K	5x	as long as short
Phoenix ZEC	+0.0096%	1h	1,505.9	−0.135%	$4.8M	$1.4M	10x	as long as short
Lighter RH ZEC	+0.0096%	1h	1,509.3	+0.094%	$2.1M	$7.5M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,507.7	−0.015%	$177K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0098%	8h	1,508.3	+0.029%	$14K	$891K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,508	+0.005%	$62K	$20K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,508.1	+0.015%	$3.1M	$7.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,508.5	+0.040%	$789.6M	$441.5M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,507.4	−0.034%	$14.1M	$30.8M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,508.2	+0.023%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,507.9	+0.001%	$705.5M	$2.30B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,507.4	−0.031%	$272.0M	$620.1M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,507.6	−0.020%	$184.0M	$1.36B	50x	as long as short
Gate ZEC_USDTlong	+0.0100%	8h	1,507.9	long leg	$58.7M	$187.2M	75x
MEXC ZEC_USDT	+0.0100%	8h	1,508.2	+0.019%	$239.8M	$806.6M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,507.8	−0.007%	$103.6M	$56.5M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,507.8	−0.005%	$163.0M	$289.9M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,507.4	−0.032%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,501.9	−0.396%	$49.1M	$34.4M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,504.6	−0.220%	$576K	$9.1M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,503.1	−0.321%	$3.1M	$510K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,504.4	−0.235%	$414K	$946K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,505	−0.194%	$56K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,507.6	−0.020%	$363K	$1.6M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,505.9	−0.133%	$170K	$184K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,502.7	−0.345%	$459K	$469K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,507.1	−0.051%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,507.4	−0.031%	$255K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,507.8	−0.008%	$2.7M	$20.8M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,509.5	+0.105%	$4.0M	$4.9M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,508.2	+0.018%	$2.8M	$7.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,504.7	−0.213%	$43K	$151K	20x	as long as short
RISEx ZEC/USDC	+0.0128%	1h	1,508.4	+0.035%	$950K	$1.1M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0147% / S −0.0144%	1h	1,506	−0.126%	$335K	—	100x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0154%	1h	1,507.6	−0.018%	$688K	$1.4M	25x	as long as short
Lighter ZEC	+0.0208%	1h	1,508.6	+0.049%	$19.9M	$46.4M	20x	as long as short
Arcus ZEC-USD	+0.0403%	1h	1,508.6	+0.044%	$608K	$8.8M	10x	as long as short
Coinbase International ZEC-PERP-INTXshort	+0.0416%	1h	1,508.7	+0.054%	$3.7M	$9.6M	50x
Backpack ZEC_USDC_PERP	+0.0497%	1h	1,509.1	+0.080%	$2.4M	$3.8M	15x	as long as short