Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0332%/8h= +36.4% APRpaid last 24h +0.099%

Price spread now: Coinbase International against GRVT+0.228%7-day average +0.155% · you sell dearer than you buy

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$340.343% of the position

Long on GRVT Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.090%−$9 on $10k

Price spread, last 3 days (all we have)+0.541%+$54 · spread now +0.228%, 7d avg +0.155%

Together, before fees+0.451%+ Points / potential airdropGRVT: Active · farm board+$45 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Coinbase International is 0.072% dearer against GRVT than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.155%. Mind the row above: over the last 7 days funding on this pair cost −0.090%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.090% in total (about -4.7% 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	GRVT ZEC_USDT_Perp	1,470.2	0.0100	pay 0.0100% / 8h	28m 43s	$3.0M	$454K	10x
Short	Coinbase International ZEC-PERP-INTX	1,473.5	0.0432	get 0.0054% / 1h	28m 43s	$3.8M	$10.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against GRVT. 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 GRVTbpFee Coinbase InternationalbpOrdersPrice spread, now +0.228%Rate

Funding earned: $69.72
Price spread: +0.228% → +0.155%: $7.24
Slippage, 4 orders: −$15.25
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $42.71
Costs to cover: 0.343%
Break-even: 2.7 days

Slippage from GRVT: live order book, 5 min ago; Coinbase International: live order book, 5 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 GRVT live order book, 5 min ago	1.50 bp	6.0 bp −$6	6.9 bp −$69	8267.7 bp −$826.8K	81279.7 bp −$40.64M
Sell Coinbase International live order book, 5 min ago	1.36 bp	11.8 bp −$12	16.1 bp −$161	42.8 bp −$4,284	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	−0.3089%	1h	1,472.5	+0.156%	$34K	$275K	12x	as long as short
Ondo Perps ZEC-USD.P	−0.0254%	1h	1,468.3	−0.127%	$399K	$515K	5x	as long as short
Kraken Futures PF_ZECUSD	−0.0225%	1h	1,470.6	+0.029%	$17.9M	$44.3M	25x	as long as short
Bybit ZECUSDT	−0.0111%	8h	1,469.4	−0.051%	$274.8M	$654.5M	75x	as long as short
BloFin ZEC-USDT	−0.0102%	8h	1,470.6	+0.028%	$29.6M	$75.2M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,471.1	+0.060%	$6K	$2K	10x	as long as short
Variational Omni ZEC	−0.0057%	8h	1,468.8	−0.093%	$46.8M	$33.8M	—	as long as short
ApeX Omni ZECUSDT	−0.0045%	1h	1,470.3	+0.012%	$431K	$841K	50x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,471	+0.059%	$414K	$104K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,472.1	+0.131%	$903K	$5.6M	2.2x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl ZEC	0.0000%	43m	1,471	+0.054%	$84K	$404K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,470.7	+0.036%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0012%	8h	1,470.6	+0.028%	$294K	$1.4M	20x	as long as short
01 Exchange ZECUSD	+0.0016%	1h	1,471.7	+0.103%	$8K	$8K	5x	as long as short
Phoenix ZEC	+0.0024%	1h	1,470.8	+0.043%	$4.6M	$1.6M	10x	as long as short
OKX ZEC-USDT-SWAP	+0.0038%	8h	1,470.1	−0.007%	$180.6M	$1.34B	50x	as long as short
Gate ZEC_USDT	+0.0046%	8h	1,470.2	−0.001%	$50.8M	$186.4M	75x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0055% / S −0.0010%	1h	1,470.5	+0.026%	$372K	—	100x	as long as short
Lighter ZEC	+0.0096%	1h	1,472.1	+0.128%	$19.1M	$52.4M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,471.3	+0.077%	$175K	$1.9M	50x	as long as short
Katana Perps ZEC-USD	+0.0097%	8h	1,470.2	+0.005%	$13K	$836K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,470.8	+0.043%	$60K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,471.2	+0.073%	$2.6M	$6.8M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,471.1	+0.064%	$762.7M	$474.4M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,470.1	−0.002%	$15.0M	$32.7M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,471.4	+0.086%	$1.7M	$2.9M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,470.4	+0.015%	$683.6M	$2.46B	75x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,472.7	+0.176%	$720K	$8.3M	10x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,469.8	−0.028%	$894K	$39K	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,470.4	+0.013%	$232.6M	$838.0M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,470.5	+0.023%	$103.5M	$56.0M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,470.3	+0.011%	$162.9M	$301.7M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,469.3	−0.060%	—	$6.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,470.1	−0.004%	$513K	$9.2M	20x	as long as short
GRVT ZEC_USDT_Perplong	+0.0100%	8h	1,470.2	long leg	$3.0M	$454K	10x
StandX ZEC-USD	+0.0100%	1h	1,471.2	+0.071%	$110K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,471.2	+0.071%	$344K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,470.1	−0.001%	$128K	$159K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,469	−0.081%	$448K	$498K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,473.5	+0.229%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,470.4	+0.017%	$238K	$4.4M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,470	−0.011%	$2.5M	$23.1M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,471.1	+0.062%	$3.9M	$5.3M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,470.7	+0.035%	$3.3M	$6.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,470.5	+0.022%	$37K	$366K	20x	as long as short
RISEx ZEC/USDC	+0.0132%	1h	1,471.9	+0.117%	$825K	$1.2M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0138%	1h	1,471.6	+0.096%	$614K	$1.3M	25x	as long as short
Backpack ZEC_USDC_PERP	+0.0418%	1h	1,471.5	+0.090%	$2.4M	$3.8M	15x	as long as short
Coinbase International ZEC-PERP-INTXshort	+0.0432%	1h	1,473.5	+0.228%	$3.8M	$10.6M	50x
Lighter RH ZEC	+0.0472%	1h	1,472.4	+0.150%	$2.0M	$8.3M	10x	as long as short
Aftermath Perps ZECUSD	+0.0709%	1h	1,471.9	+0.116%	$46K	$47K	10x	as long as short