Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.3575%/8h= +391.4% APRpaid last 24h +0.375%

Price spread now: Binance against Injective+0.998%47s7-day average −0.111% · you sell dearer than you buy

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

Long on Injective Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+2.021%+$202 on $10k

Price spread, last 3 days (all we have)−3.108%−$311 · spread now +0.998%, 7d avg −0.111%

Together, before fees−1.087%−$109 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$107 a day on $10k at the current rate, and Binance is 1.109% dearer against Injective than usual: you sell high and buy low: +$111 more if the spread goes back to its 7-day average of −0.111%. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 2.021% in total (about 105.4% 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	Injective ZEC/USDC PERP	1,437.6	−0.3476	get 0.0434% / 1h	52m 40s	$33K	$275K	12x
Short	Binance ZECUSDT	1,452	0.0099	get 0.0099% / 8h	2h 52m	$658.6M	$2.55B	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Injective. 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 InjectivebpFee BinancebpOrdersPrice spread, now +0.998%Rate

Funding earned: $750.71
Price spread: +0.998% → −0.111%: $110.89
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Binance: 5 bp × 2 orders: −$10
Net: $851.58
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Injective: live order book, 36 min ago; Binance: live order book, 6 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 Injective live order book, 36 min ago	58.14 bp	489902.9 bp −$489.9K	4956187.5 bp −$49.56M	49327108.0 bp −$4932.71M	245801776.0 bp −$122900.89M
Sell Binance live order book, 6 min ago	0.03 bp	5.1 bp −$5	6.8 bp −$68	11.0 bp −$1,098	22.8 bp −$11.4K

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 PERPlong	−0.3476%	1h	1,437.6	long leg	$33K	$275K	12x
Hotstuff ZEC-PERP	−0.0080%	1h	1,453.9	+1.130%	$6K	$2K	10x	as long as short
Kraken Futures PF_ZECUSD	−0.0071%	1h	1,453.2	+1.084%	$17.6M	$44.7M	25x	as long as short
BloFin ZEC-USDT	−0.0067%	8h	1,453.9	+1.132%	$29.0M	$75.8M	75x	as long as short
Variational Omni ZEC	−0.0034%	8h	1,451.4	+0.958%	$45.5M	$32.3M	—	as long as short
Bybit ZECUSDT	−0.0014%	8h	1,450.9	+0.925%	$268.7M	$677.2M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,454.8	+1.196%	$410K	$106K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,453.3	+1.093%	$850K	$5.5M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,453.5	+1.105%	$82K	$400K	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	0.0000%	1h	1,454.6	+1.179%	$566K	$1.3M	25x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_ZEC_USDC	+0.0007%	8h	1,453.7	+1.122%	$291K	$1.5M	20x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,454.2	+1.157%	$5.1M	—	150x	as long as short
OKX ZEC-USDT-SWAP	+0.0035%	8h	1,451.2	+0.945%	$172.1M	$1.36B	50x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0040% / S +0.0062%	1h	1,454	+1.137%	$536K	—	100x	as long as short
Aster ZECUSDT	+0.0053%	8h	1,454.3	+1.160%	$15.1M	$35.2M	75x	as long as short
Gate ZEC_USDT	+0.0065%	8h	1,452.8	+1.056%	$49.3M	$185.2M	75x	as long as short
01 Exchange ZECUSD	+0.0088%	1h	1,452.4	+1.030%	$8K	$8K	5x	as long as short
Katana Perps ZEC-USD	+0.0095%	8h	1,451.9	+0.995%	$17K	$886K	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,451.9	+0.991%	$177K	$2.0M	50x	as long as short
MEXC ZEC_USDT	+0.0097%	8h	1,452.9	+1.063%	$219.0M	$879.9M	150x	as long as short
Binance ZECUSDTshort	+0.0099%	8h	1,452	+0.998%	$658.6M	$2.55B	75x
Paradex ZEC-USD-PERP	+0.0100%	8h	1,452.9	+1.065%	$60K	$37K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,452.9	+1.061%	$3.0M	$6.8M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,455.3	+1.231%	$752.4M	$492.7M	10x	as long as short
Pacifica ZEC	+0.0100%	1h	1,454.4	+1.169%	$1.6M	$3.1M	10x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,449.8	+0.848%	$393K	$522K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,454.9	+1.202%	$896K	$37K	10x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,454.4	+1.164%	$103.7M	$57.3M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,452.5	+1.038%	$161.9M	$317.0M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,453	+1.071%	—	$106.9M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,454.8	+1.196%	$2.3M	$4.2M	15x	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,453.8	+1.127%	$488K	$9.7M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,452.9	+1.065%	$3.0M	$501K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,450.5	+0.897%	$705K	$604K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,454.2	+1.155%	$109K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,453.5	+1.105%	$298K	$2.1M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,454	+1.140%	$127K	$161K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,452.5	+1.035%	$442K	$493K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,456.7	+1.324%	$3K	$1.3M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,453.4	+1.101%	$220K	$4.7M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,453	+1.071%	$2.4M	$25.3M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,453.5	+1.102%	$3.7M	$5.5M	50x	as long as short
Phoenix ZEC	+0.0103%	1h	1,452.3	+1.018%	$4.6M	$1.6M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,453.5	+1.108%	$36K	$362K	20x	as long as short
Lighter ZEC	+0.0144%	1h	1,455.3	+1.234%	$18.8M	$53.6M	20x	as long as short
RISEx ZEC/USDC	+0.0219%	1h	1,453	+1.069%	$862K	$2.5M	10x	as long as short
Extended ZEC-USD	+0.0352%	1h	1,452.7	+1.050%	$3.3M	$7.0M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0440%	1h	1,455.2	+1.225%	$3.7M	$11.6M	50x	as long as short
Aftermath Perps ZECUSD	+0.0464%	1h	1,454.1	+1.146%	$39K	$32K	10x	as long as short
Arcus ZEC-USD	+0.0518%	1h	1,454.9	+1.204%	$750K	$7.8M	10x	as long as short
Lighter RH ZEC	+0.0672%	1h	1,456.8	+1.331%	$1.9M	$8.4M	10x	as long as short