Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0064%/8h= −7.0% APRpaid last 24h −0.016%

Price spread now: MEXC against GMX−0.020%7-day average −0.028% · you buy dearer than you sell

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

Long on GMX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.037%+$4 on $10k

Price spread, last 4 days (all we have)−0.824%−$82 · spread now −0.020%, 7d avg −0.028%

Together, before fees−0.787%−$79 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.028%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX ZEC/USD [WBTC.b-USDC]	1,503.9	L +0.0164% / S −0.0172%	pay 0.0021% / 1h	12m 50s	$334K	—	100x
Short	MEXC ZEC_USDT	1,503.6	0.0100	get 0.0100% / 8h	7h 12m	$405.6M	$843.5M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.020%Rate

Funding earned: −$13.52
Price spread: −0.020% → −0.028%: $0.87
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: −$24.65
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; MEXC: live order book, 1 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 MEXC live order book, 1 min ago	0.03 bp	0.0 bp $0	0.4 bp −$4	17.5 bp −$1,752	69.8 bp −$34.9K

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 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	−0.3702%	1h	1,491.4	−0.832%	$36K	$275K	12x	as long as short
Perpl ZEC	−0.0447%	43m	1,502.3	−0.104%	$62K	$308K	10x	as long as short
Aftermath Perps ZECUSD	−0.0253%	1h	1,506.6	+0.180%	$48K	$58K	10x	as long as short
BloFin ZEC-USDT	−0.0168%	8h	1,504	+0.009%	$31.6M	$75.7M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,505.8	+0.127%	$6K	$1K	10x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,505.9	+0.136%	$1.6M	$5.0M	2.2x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,505.6	+0.112%	$415K	$34K	5x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,504.3	+0.028%	$5.4M	—	150x	as long as short
Kraken Futures PF_ZECUSD	+0.0019%	1h	1,504.5	+0.044%	$18.3M	$47.5M	25x	as long as short
01 Exchange ZECUSD	+0.0024%	1h	1,505.4	+0.101%	$8K	$6K	5x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ZEC_USDT	+0.0073%	8h	1,503.6	−0.017%	$60.7M	$188.4M	75x	as long as short
Phoenix ZEC	+0.0082%	1h	1,506.9	+0.199%	$4.8M	$1.4M	10x	as long as short
Orderly PERP_ZEC_USDC	+0.0083%	8h	1,503.5	−0.028%	$304K	$860K	20x	as long as short
Lighter ZEC	+0.0096%	1h	1,505.4	+0.099%	$19.6M	$45.7M	20x	as long as short
Lighter RH ZEC	+0.0096%	1h	1,505.5	+0.105%	$2.1M	$7.6M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,505.2	+0.086%	$177K	$1.8M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,505.3	+0.096%	$62K	$16K	10x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,505.1	+0.085%	$16K	$878K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,505.3	+0.096%	$3.1M	$7.5M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,505.3	+0.095%	$790.1M	$447.5M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,503.3	−0.038%	$14.0M	$29.9M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,505.8	+0.127%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,504.1	+0.018%	$710.5M	$2.29B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,503.6	−0.016%	$273.2M	$611.0M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,504.1	+0.014%	$185.5M	$1.35B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,503	−0.057%	$409K	$545K	5x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,506.2	+0.152%	$595K	$8.8M	10x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,508.1	+0.282%	$776K	$147K	10x	as long as short
MEXC ZEC_USDTshort	+0.0100%	8h	1,503.6	−0.020%	$405.6M	$843.5M	150x
KuCoin ZECUSDTM	+0.0100%	8h	1,503.7	−0.010%	$102.8M	$56.1M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,503.8	−0.004%	$163.1M	$290.6M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,504.9	+0.071%	—	$6.6M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,506.2	+0.155%	$49.8M	$35.6M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,508.6	+0.317%	$551K	$9.2M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,508.2	+0.290%	$3.1M	$549K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,509.2	+0.355%	$414K	$953K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,509.2	+0.353%	$50K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,504.8	+0.062%	$374K	$1.6M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,503.8	−0.002%	$168K	$190K	20x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,506.2	+0.152%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,503.8	−0.002%	$257K	$3.6M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,508	+0.276%	$2.7M	$20.6M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,504.6	+0.046%	$4.0M	$4.8M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,503.5	−0.025%	$2.8M	$8.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,503.1	−0.049%	$43K	$157K	20x	as long as short
Backpack ZEC_USDC_PERP	+0.0134%	1h	1,504.7	+0.058%	$2.4M	$3.7M	15x	as long as short
RISEx ZEC/USDC	+0.0157%	1h	1,504.8	+0.063%	$966K	$1.1M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0158%	1h	1,504.6	+0.052%	$689K	$1.3M	25x	as long as short
GMX ZEC/USD [WBTC.b-USDC]long	L +0.0164% / S −0.0172%	1h	1,503.9	long leg	$334K	—	100x
Coinbase International ZEC-PERP-INTX	+0.0368%	1h	1,505.9	+0.135%	$3.8M	$9.9M	50x	as long as short