Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0244%/8h= +26.7% APRpaid last 24h −0.003%

Price spread now: Deribit against Gate+0.087%7-day average +0.073% · you sell dearer than you buy

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$410.410% of the position

Long on Gate Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.149%+$15 on $10k

Price spread, last 3 days (all we have)+0.156%+$16 · spread now +0.087%, 7d avg +0.073%

Together, before fees+0.305%+$31 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.073%, so right now this pair is about funding alone: +$7 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.149% in total (about 7.8% 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	Gate ZEC_USDT	1,476.2	0.0100	pay 0.0100% / 8h	6h 32m	$50.1M	$175.3M	75x
Short	Deribit ZEC_USDC-PERPETUAL	1,477.4	0.0344	get 0.0043% / 1h	32m 02s	$615K	$1.3M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.087%Rate

Funding earned: $51.14
Price spread: +0.087% → +0.073%: $1.36
Slippage, 4 orders: −$18.99
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $11.51
Costs to cover: 0.410%
Break-even: 5.4 days

Slippage from Gate: live order book, 2 min ago; Deribit: live order book, 2 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, 2 min ago	0.20 bp	10.3 bp −$10	16.9 bp −$169	32.1 bp −$3,212	54.8 bp −$27.4K
Sell Deribit live order book, 2 min ago	5.30 bp	10.2 bp −$10	doesn't fit	doesn't fit	doesn't fit

ZEC on 50 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	−0.3678%	1h	1,471.7	−0.299%	$34K	$274K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,472.6	−0.241%	$6K	$1K	10x	as long as short
Ondo Perps ZEC-USD.P	−0.0018%	1h	1,471.7	−0.301%	$399K	$518K	5x	as long as short
Kraken Futures PF_ZECUSD	−0.0002%	1h	1,476.6	+0.032%	$18.1M	$43.6M	25x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,473.7	−0.169%	$415K	$56K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,476.5	+0.024%	$976K	$5.0M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,474.4	−0.119%	$84K	$258K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,476.5	+0.023%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0027%	8h	1,476.5	+0.024%	$295K	$1.1M	20x	as long as short
Variational Omni ZEC	+0.0033%	8h	1,470.4	−0.388%	$47.9M	$33.3M	—	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX ZEC/USD [WBTC.b-USDC]	L +0.0055% / S −0.0009%	1h	1,476.4	+0.019%	$386K	—	100x	as long as short
01 Exchange ZECUSD	+0.0056%	1h	1,475.4	−0.053%	$8K	$9K	5x	as long as short
Phoenix ZEC	+0.0070%	1h	1,471.2	−0.335%	$4.7M	$1.5M	10x	as long as short
OKX ZEC-USDT-SWAP	+0.0093%	8h	1,476.8	+0.042%	$181.6M	$1.28B	50x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,475.6	−0.040%	$174K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,474.8	−0.091%	$16K	$839K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,474.7	−0.100%	$61K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,476	−0.007%	$2.6M	$6.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,477	+0.058%	$768.8M	$444.5M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,476.7	+0.039%	$14.9M	$31.0M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,475	−0.077%	$1.7M	$2.7M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,476.5	+0.024%	$682.0M	$2.34B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,476.5	+0.021%	$272.4M	$625.8M	75x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,470.5	−0.384%	$893K	$19K	10x	as long as short
Gate ZEC_USDTlong	+0.0100%	8h	1,476.2	long leg	$50.1M	$175.3M	75x
MEXC ZEC_USDT	+0.0100%	8h	1,477	+0.059%	$217.5M	$797.8M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,476.8	+0.042%	$103.9M	$56.2M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,476.7	+0.035%	$164.0M	$285.2M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,475.6	−0.037%	—	$6.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,471.3	−0.332%	$572K	$9.1M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,472.9	−0.219%	$3.0M	$443K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,471.9	−0.290%	$428K	$907K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,472.5	−0.248%	$71K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,476.5	+0.024%	$339K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,476.6	+0.031%	$128K	$159K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,475	−0.076%	$459K	$510K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,477.1	+0.066%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,476.5	+0.024%	$243K	$3.8M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,475.3	−0.058%	$2.6M	$19.1M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,476.1	−0.002%	$3.9M	$5.4M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,476.7	+0.038%	$3.2M	$7.1M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,476.8	+0.041%	$48K	$167K	20x	as long as short
Arcus ZEC-USD	+0.0254%	1h	1,475.7	−0.031%	$689K	$8.7M	10x	as long as short
Lighter ZEC	+0.0264%	1h	1,477.3	+0.076%	$19.3M	$48.1M	20x	as long as short
Lighter RH ZEC	+0.0296%	1h	1,477.7	+0.107%	$2.1M	$7.1M	10x	as long as short
Deribit ZEC_USDC-PERPETUALshort	+0.0344%	1h	1,477.4	+0.087%	$615K	$1.3M	25x
RISEx ZEC/USDC	+0.0374%	1h	1,475.6	−0.040%	$866K	$1.0M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0472%	1h	1,478.3	+0.144%	$3.7M	$9.7M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0513%	1h	1,476.9	+0.048%	$2.5M	$3.9M	15x	as long as short
Aftermath Perps ZECUSD	+0.0722%	1h	1,472.5	−0.248%	$44K	$46K	10x	as long as short