Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.3266%/8h= −357.6% APRpaid last 24h −0.618%

Price spread now: Injective against GRVT+0.065%108s7-day average +0.133% · you sell dearer than you buy

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

Long on GRVT Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−2.474%−$247 on $10k

Price spread, last 4 days (all we have)+0.923%+$92 · spread now +0.065%, 7d avg +0.133%

Together, before fees−1.551%+ Points / potential airdropGRVT: Active · farm board−$155 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$98 a day on $10k at the current rate, and Injective is 0.069% cheaper against GRVT than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.133%). Swap the legs. The two prices were read 108 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	1,457.2	0.0100	pay 0.0100% / 8h	4h 03m	$3.0M	$451K	10x
Short	Injective ZEC/USDC PERP	1,458.2	−0.3166	pay 0.0396% / 1h	3m 30s	$34K	$272K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.065%Rate

Funding earned: −$685.9
Price spread: +0.065% → +0.133%: −$6.87
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$701.79
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: GRVT: live order book, 5 min ago; Injective: live order book, 56 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 GRVT live order book, 5 min ago	1.44 bp	7.0 bp −$7	9.3 bp −$93	7333.7 bp −$733.4K	76613.8 bp −$38.31M
Sell Injective live order book, 56 min ago	48.95 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	−0.3166%	1h	1,458.2	+0.065%	$34K	$272K	12x
Hotstuff ZEC-PERP	−0.0080%	1h	1,459.8	+0.176%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0070%	8h	1,457.6	+0.024%	$29.6M	$70.9M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,459.4	+0.151%	$411K	$37K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,458.7	+0.102%	$1.5M	$4.5M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,459.7	+0.172%	$83K	$240K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,458.4	+0.084%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0063%	8h	1,458.4	+0.084%	$291K	$952K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0071% / S −0.0022%	1h	1,458.3	+0.073%	$410K	—	100x	as long as short
01 Exchange ZECUSD	+0.0080%	1h	1,459.7	+0.170%	$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	+0.137%	$173K	$1.7M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,459.9	+0.180%	$11K	$858K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,459.4	+0.151%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,459.6	+0.160%	$2.9M	$6.7M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,459.8	+0.177%	$759.4M	$431.5M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,459.5	+0.159%	$14.8M	$27.9M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,459.5	+0.157%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,458.6	+0.093%	$670.1M	$2.21B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,457.8	+0.036%	$261.7M	$602.2M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,458.5	+0.090%	$178.1M	$1.22B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,457.6	+0.026%	$396K	$442K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,457.5	+0.022%	$880K	$18K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,458.6	+0.093%	$50.6M	$175.4M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,458.8	+0.108%	$215.1M	$777.0M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,458.6	+0.097%	$102.9M	$54.0M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,459	+0.121%	$165.9M	$271.0M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,457.9	+0.045%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,457.3	+0.008%	$47.8M	$32.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,457.7	+0.033%	$567K	$8.6M	20x	as long as short
GRVT ZEC_USDT_Perplong	+0.0100%	8h	1,457.2	long leg	$3.0M	$451K	10x
ApeX Omni ZECUSDT	+0.0100%	1h	1,457.6	+0.025%	$405K	$942K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,458.9	+0.115%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,458.8	+0.108%	$354K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,458.5	+0.090%	$160K	$184K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,458.3	+0.077%	$445K	$521K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,459.9	+0.180%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,459.5	+0.159%	$234K	$3.4M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,457.1	−0.005%	$2.7M	$18.4M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,459.6	+0.165%	$3.8M	$5.1M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,459.1	+0.131%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,459.3	+0.144%	$47K	$151K	20x	as long as short
Phoenix ZEC	+0.0123%	1h	1,458.8	+0.105%	$4.6M	$1.3M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0181%	1h	1,459.9	+0.181%	$2.4M	$3.9M	15x	as long as short
Lighter ZEC	+0.0240%	1h	1,460.5	+0.222%	$19.3M	$46.0M	20x	as long as short
Kraken Futures PF_ZECUSD	+0.0276%	1h	1,459.5	+0.159%	$18.0M	$45.2M	25x	as long as short
Lighter RH ZEC	+0.0320%	1h	1,460.8	+0.245%	$2.1M	$7.0M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0381%	1h	1,460.4	+0.221%	$616K	$1.3M	25x	as long as short
RISEx ZEC/USDC	+0.0412%	1h	1,459.6	+0.166%	$924K	$1.1M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0448%	1h	1,459.5	+0.155%	$3.8M	$9.1M	50x	as long as short
Arcus ZEC-USD	+0.0626%	1h	1,460.6	+0.234%	$675K	$8.2M	10x	as long as short
Aftermath Perps ZECUSD	+0.0681%	1h	1,459.1	+0.128%	$45K	$49K	10x	as long as short