Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0029%/8h= +3.2% APRpaid last 24h −0.012%

Price spread now: Binance against GMX+0.057%7-day average −0.033% · you sell dearer than you buy

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

Long on GMX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.034%+$3 on $10k

Price spread, last 4 days (all we have)−0.479%−$48 · spread now +0.057%, 7d avg −0.033%

Together, before fees−0.445%−$44 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Binance is 0.090% dearer against GMX than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of −0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX ZEC/USD [WBTC.b-USDC]	1,458.3	L +0.0071% / S −0.0022%	pay 0.0009% / 1h	2m 59s	$410K	—	100x
Short	Binance ZECUSDT	1,459.1	0.0100	get 0.0100% / 8h	4h 02m	$670.3M	$2.21B	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against GMX. 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 GMXbpFee BinancebpOrdersPrice spread, now +0.057%Rate

Funding earned: $6.1
Price spread: +0.057% → −0.033%: $8.96
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$6.94
Costs to cover: 0.220%
Break-even: 15.0 days

Slippage unknown: GMX: no order-book sample; Binance: live order book, 11 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 GMX no order-book sample	—	—	—	—	—
Sell Binance live order book, 11 min ago	0.03 bp	5.0 bp −$5	6.1 bp −$61	13.5 bp −$1,352	doesn't fit

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.3166%	1h	1,458.2	−0.009%	$34K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,459.8	+0.103%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0070%	8h	1,458.8	+0.033%	$29.6M	$71.0M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,459.4	+0.078%	$411K	$37K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,459.4	+0.078%	$1.5M	$4.5M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,459.7	+0.098%	$83K	$240K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,458.4	+0.010%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0063%	8h	1,458.4	+0.010%	$291K	$952K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]long	L +0.0071% / S −0.0022%	1h	1,458.3	long leg	$410K	—	100x
01 Exchange ZECUSD	+0.0080%	1h	1,459.7	+0.097%	$8K	$7K	5x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex ZECUSDT	+0.0096%	1h	1,459.2	+0.064%	$173K	$1.7M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,459.9	+0.107%	$11K	$858K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,459.4	+0.078%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,459.6	+0.087%	$2.9M	$6.7M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,460.3	+0.138%	$759.6M	$431.5M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,458.9	+0.042%	$14.8M	$27.9M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,459.5	+0.084%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDTshort	+0.0100%	8h	1,459.1	+0.057%	$670.3M	$2.21B	75x
Bybit ZECUSDT	+0.0100%	8h	1,458.5	+0.017%	$261.9M	$602.1M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,459.2	+0.060%	$178.2M	$1.22B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,457.6	−0.047%	$396K	$442K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,457.5	−0.051%	$880K	$18K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,459	+0.045%	$50.6M	$175.4M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,459	+0.047%	$215.5M	$777.0M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,458.7	+0.030%	$102.9M	$54.0M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,459.4	+0.075%	$165.9M	$271.0M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,458.3	0.000%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,457.3	−0.065%	$47.8M	$32.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,457.7	−0.040%	$567K	$8.6M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,457.2	−0.073%	$3.0M	$451K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,457.6	−0.049%	$405K	$942K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,458.9	+0.041%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,458.8	+0.035%	$354K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,458.5	+0.017%	$160K	$184K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,457.2	−0.075%	$445K	$521K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,461.8	+0.240%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,458.5	+0.017%	$233K	$3.4M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,458	−0.020%	$2.7M	$18.4M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,459.1	+0.055%	$3.8M	$5.1M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,458.9	+0.041%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,458.4	+0.008%	$47K	$151K	20x	as long as short
Phoenix ZEC	+0.0123%	1h	1,458.8	+0.032%	$4.6M	$1.3M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0186%	1h	1,459.3	+0.069%	$2.4M	$3.9M	15x	as long as short
Lighter ZEC	+0.0248%	1h	1,460.1	+0.123%	$19.3M	$46.0M	20x	as long as short
Kraken Futures PF_ZECUSD	+0.0277%	1h	1,458.5	+0.012%	$18.0M	$45.2M	25x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0290%	1h	1,459.1	+0.055%	$616K	$1.3M	25x	as long as short
Lighter RH ZEC	+0.0320%	1h	1,460.2	+0.128%	$2.1M	$7.0M	10x	as long as short
RISEx ZEC/USDC	+0.0412%	1h	1,459.6	+0.093%	$924K	$1.1M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0448%	1h	1,460.5	+0.153%	$3.8M	$9.1M	50x	as long as short
Arcus ZEC-USD	+0.0626%	1h	1,460.6	+0.160%	$675K	$8.2M	10x	as long as short
Aftermath Perps ZECUSD	+0.0681%	1h	1,459.1	+0.055%	$45K	$49K	10x	as long as short