Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.3548%/8h= −388.5% APRpaid last 24h −0.378%

Price spread now: Injective against Gate−1.631%7-day average +0.113% · you buy dearer than you sell

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

Long on Gate Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−2.000%−$200 on $10k

Price spread, last 3 days (all we have)+2.637%+$264 · spread now −1.631%, 7d avg +0.113%

Together, before fees+0.638%+$64 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$106 a day on $10k at the current rate, and Injective is 1.744% cheaper against Gate than usual: you would sell low and buy high (−$174 if the spread goes back to its 7-day average of +0.113%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -2.000% in total (about -104.3% 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	1,456.9	0.0072	pay 0.0072% / 8h	2h 14m	$49.3M	$190.8M	75x
Short	Injective ZEC/USDC PERP	1,433.1	−0.3476	pay 0.0434% / 1h	14m 39s	$33K	$275K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −1.631%Rate

Funding earned: −$745.03
Price spread: −1.631% → +0.113%: −$174.35
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$934.4
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 4 min ago; Injective: live order book, 9 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 Gate live order book, 4 min ago	0.03 bp	12.5 bp −$13	19.2 bp −$192	30.2 bp −$3,017	56.7 bp −$28.4K
Sell Injective live order book, 9 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	−0.3476%	1h	1,433.1	−1.631%	$33K	$275K	12x
BloFin ZEC-USDT	−0.0085%	8h	1,457.2	+0.017%	$28.7M	$75.4M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,457.1	+0.013%	$6K	$2K	10x	as long as short
Kraken Futures PF_ZECUSD	−0.0071%	1h	1,457.4	+0.035%	$17.7M	$44.6M	25x	as long as short
Bybit ZECUSDT	−0.0009%	8h	1,455.5	−0.093%	$268.7M	$677.6M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,457.2	+0.020%	$410K	$106K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,458.6	+0.119%	$934K	$5.7M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,457	+0.006%	$83K	$401K	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	0.0000%	1h	1,458	+0.077%	$593K	$1.3M	25x	as long as short
Variational Omni ZEC	+0.0002%	8h	1,456.6	−0.021%	$45.6M	$33.4M	—	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	1,457.7	+0.058%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0016%	8h	1,457.4	+0.037%	$292K	$1.5M	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0019% / S +0.0072%	1h	1,457.6	+0.047%	$557K	—	100x	as long as short
01 Exchange ZECUSD	+0.0048%	1h	1,457.8	+0.060%	$8K	$8K	5x	as long as short
OKX ZEC-USDT-SWAP	+0.0057%	8h	1,456.1	−0.058%	$173.8M	$1.36B	50x	as long as short
Gate ZEC_USDTlong	+0.0072%	8h	1,456.9	long leg	$49.3M	$190.8M	75x
Ondo Perps ZEC-USD.P	+0.0075%	1h	1,452.8	−0.281%	$395K	$519K	5x	as long as short
Katana Perps ZEC-USD	+0.0095%	8h	1,457.3	+0.025%	$15K	$871K	10x	as long as short
Lighter ZEC	+0.0096%	1h	1,457.8	+0.061%	$18.8M	$54.7M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,457.2	+0.018%	$173K	$2.0M	50x	as long as short
Aster ZECUSDT	+0.0096%	8h	1,457	+0.005%	$15.3M	$34.0M	75x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,456.2	−0.049%	$60K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,457.7	+0.052%	$2.5M	$7.1M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,457.6	+0.048%	$753.7M	$495.1M	10x	as long as short
Pacifica ZEC	+0.0100%	1h	1,456.8	−0.010%	$1.6M	$3.0M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,456.7	−0.016%	$665.1M	$2.53B	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,456.5	−0.028%	$217.7M	$898.3M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,457	+0.009%	$103.1M	$57.0M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,456.9	+0.002%	$161.3M	$312.5M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,457.1	+0.016%	—	$101.4M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,458.3	+0.093%	$2.3M	$4.1M	15x	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,455.2	−0.117%	$489K	$9.6M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,456.7	−0.011%	$3.0M	$510K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,456.7	−0.015%	$428K	$814K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,457.9	+0.067%	$109K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,456.9	0.000%	$344K	$2.0M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,457.3	+0.025%	$127K	$161K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,456.2	−0.050%	$443K	$498K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,459.5	+0.181%	$3K	$1.3M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,457.4	+0.033%	$221K	$4.7M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,457.2	+0.017%	$2.4M	$24.9M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,457.5	+0.043%	$3.8M	$5.4M	50x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,455	−0.131%	$896K	$26K	10x	as long as short
Phoenix ZEC	+0.0103%	1h	1,457.5	+0.040%	$4.6M	$1.6M	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,457.7	+0.054%	$3.3M	$6.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,457.5	+0.039%	$36K	$362K	20x	as long as short
RISEx ZEC/USDC	+0.0219%	1h	1,457.9	+0.071%	$863K	$1.8M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0440%	1h	1,459.2	+0.161%	$3.8M	$11.5M	50x	as long as short
Aftermath Perps ZECUSD	+0.0464%	1h	1,457.2	+0.021%	$40K	$34K	10x	as long as short
Arcus ZEC-USD	+0.0518%	1h	1,458.8	+0.132%	$750K	$8.0M	10x	as long as short
Lighter RH ZEC	+0.0616%	1h	1,458.5	+0.109%	$1.9M	$8.5M	10x	as long as short