Funding arb · Price arb /

ZEC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.008%

Price spread now: Extended against GRVT+0.216%92s7-day average −0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$270.267% of the position

Long on GRVT Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.064%−$6 on $10k

Price spread, last 7 days−0.237%−$24 · spread now +0.216%, 7d avg −0.037%

Together, before fees−0.301%+ Points / potential airdropGRVT: Active · Extended: Active · farm board−$30 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Extended is 0.253% dearer against GRVT than usual: you sell high and buy low, +$25 on $10k if it goes back to its 7-day average of −0.037%. The two prices were read 92 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT ZEC_USDT_Perp	1,452.6	0.0100	pay 0.0100% / 8h	3h 31m	$3.0M	$463K	10x
Short	Extended ZEC-USD	1,455.7	0.0104	get 0.0013% / 1h	31m 53s	$2.8M	$7.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.216%Rate

Funding earned: $0.84
Price spread: +0.216% → −0.037%: $25.32
Slippage, 4 orders: −$12.69
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$0.53
Costs to cover: 0.267%
Break-even: 11.5 days

Slippage from GRVT: live order book, 2 min ago; Extended: 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 GRVT live order book, 2 min ago	1.92 bp	7.1 bp −$7	11.1 bp −$111	9390.5 bp −$939.1K	86889.0 bp −$43.44M
Sell Extended live order book, 2 min ago	2.09 bp	5.8 bp −$6	17.1 bp −$171	72.6 bp −$7,258	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	−0.3042%	1h	1,453.9	+0.091%	$33K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,454.9	+0.158%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0070%	8h	1,455	+0.166%	$29.5M	$70.6M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,455	+0.168%	$410K	$36K	5x	as long as short
Perpl ZEC	0.0000%	43m	1,454.4	+0.123%	$83K	$240K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,454.4	+0.125%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0063%	8h	1,454.9	+0.162%	$291K	$944K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0082% / S −0.0033%	1h	1,454.4	+0.128%	$433K	—	100x	as long as short
Lighter RH ZEC	+0.0096%	1h	1,456.6	+0.276%	$2.1M	$7.0M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,453.9	+0.094%	$174K	$1.7M	50x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps ZEC-USD	+0.0100%	8h	1,454.1	+0.105%	$13K	$821K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,454.4	+0.125%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,454.3	+0.119%	$2.8M	$6.6M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,456	+0.237%	$14.5M	$28.0M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,455.5	+0.201%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,456.4	+0.263%	$670.0M	$2.20B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,456	+0.238%	$261.4M	$599.9M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,456.5	+0.273%	$178.6M	$1.22B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,455.7	+0.216%	$395K	$434K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,453.9	+0.090%	$878K	$18K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,456.1	+0.243%	$51.1M	$171.3M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,455.8	+0.226%	$218.5M	$769.3M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,455.6	+0.208%	$102.6M	$53.4M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,456.6	+0.275%	$165.7M	$270.3M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,456.1	+0.246%	—	$105.5M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,450.8	−0.122%	$47.6M	$32.8M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,451.5	−0.073%	$565K	$8.5M	20x	as long as short
GRVT ZEC_USDT_Perplong	+0.0100%	8h	1,452.6	long leg	$3.0M	$463K	10x
ApeX Omni ZECUSDT	+0.0100%	1h	1,454.2	+0.114%	$402K	$943K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,453.2	+0.043%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,454.2	+0.113%	$352K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,454.5	+0.131%	$160K	$184K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,453.6	+0.073%	$444K	$521K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,457.5	+0.339%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,455	+0.168%	$233K	$3.2M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,454.1	+0.105%	$2.7M	$18.4M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,455.1	+0.177%	$3.8M	$4.9M	50x	as long as short
Extended ZEC-USDshort	+0.0104%	1h	1,455.7	+0.216%	$2.8M	$7.7M	10x
Aevo ZEC-PERP	+0.0104%	1h	1,454.6	+0.141%	$47K	$151K	20x	as long as short
Kalshi KXZECPERP	+0.0108%	8h	1,455.7	+0.214%	$1.5M	$4.4M	2.2x	as long as short
01 Exchange ZECUSD	+0.0112%	1h	1,454.6	+0.143%	$8K	$7K	5x	as long as short
Phoenix ZEC	+0.0116%	1h	1,454.3	+0.118%	$4.6M	$1.3M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0125%	1h	1,455.5	+0.202%	$2.4M	$3.8M	15x	as long as short
Hyperliquid ZEC	+0.0132%	1h	1,456.6	+0.278%	$758.3M	$425.9M	10x	as long as short
Lighter ZEC	+0.0160%	1h	1,456.4	+0.266%	$19.2M	$44.9M	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0209%	1h	1,455.4	+0.196%	$614K	$1.3M	25x	as long as short
RISEx ZEC/USDC	+0.0216%	1h	1,454.1	+0.107%	$919K	$1.1M	10x	as long as short
Kraken Futures PF_ZECUSD	+0.0333%	1h	1,454.8	+0.153%	$18.0M	$45.3M	25x	as long as short
Arcus ZEC-USD	+0.0344%	1h	1,456	+0.239%	$698K	$8.2M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0464%	1h	1,458.2	+0.385%	$3.8M	$9.1M	50x	as long as short
Aftermath Perps ZECUSD	+0.0670%	1h	1,453.9	+0.094%	$44K	$49K	10x	as long as short