Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.3576%/8h= +391.5% APRpaid last 24h +0.375%

Price spread now: BingX against Injective+1.112%7-day average −0.108% · you sell dearer than you buy

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

Long on Injective Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+1.997%+$200 on $10k

Price spread, last 3 days (all we have)−3.233%−$323 · spread now +1.112%, 7d avg −0.108%

Together, before fees−1.236%−$124 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 BingX is 1.220% dearer against Injective than usual: you sell high and buy low: +$122 more if the spread goes back to its 7-day average of −0.108%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 1.997% in total (about 104.1% 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	51m 09s	$33K	$275K	12x
Short	BingX ZEC-USDT	1,453.6	0.0100	get 0.0100% / 8h	2h 51m	—	$106.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +1.112%Rate

Funding earned: $750.91
Price spread: +1.112% → −0.108%: $121.99
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BingX: 5 bp × 2 orders: −$10
Net: $862.88
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Injective: live order book, 37 min ago; BingX: live order book, 3 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, 37 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 BingX live order book, 3 min ago	0.17 bp	5.2 bp −$5	6.2 bp −$62	13.0 bp −$1,304	24.2 bp −$12.1K

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	1,451.6	+0.975%	$6K	$2K	10x	as long as short
Kraken Futures PF_ZECUSD	−0.0071%	1h	1,452.6	+1.040%	$17.6M	$44.6M	25x	as long as short
BloFin ZEC-USDT	−0.0069%	8h	1,453.2	+1.085%	$28.9M	$75.9M	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	−0.0012%	8h	1,454.1	+1.148%	$269.7M	$677.1M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,451.4	+0.958%	$409K	$106K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,452.3	+1.020%	$848K	$5.5M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,451.8	+0.986%	$82K	$400K	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	0.0000%	1h	1,453.6	+1.113%	$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
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,452.7	+1.051%	$5.1M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0008%	8h	1,452.7	+1.050%	$291K	$1.5M	20x	as long as short
OKX ZEC-USDT-SWAP	+0.0038%	8h	1,454.7	+1.187%	$172.2M	$1.37B	50x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0039% / S +0.0065%	1h	1,452.5	+1.033%	$543K	—	100x	as long as short
Aster ZECUSDT	+0.0055%	8h	1,453	+1.068%	$15.2M	$35.2M	75x	as long as short
Gate ZEC_USDT	+0.0064%	8h	1,453.4	+1.097%	$49.2M	$185.4M	75x	as long as short
01 Exchange ZECUSD	+0.0080%	1h	1,452.4	+1.030%	$8K	$8K	5x	as long as short
Ondo Perps ZEC-USD.P	+0.0090%	1h	1,449.8	+0.848%	$394K	$522K	5x	as long as short
Katana Perps ZEC-USD	+0.0095%	8h	1,452.3	+1.022%	$17K	$886K	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,452.3	+1.021%	$177K	$2.0M	50x	as long as short
MEXC ZEC_USDT	+0.0099%	8h	1,453	+1.072%	$218.4M	$880.5M	150x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,451.6	+0.976%	$60K	$37K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,451.9	+0.996%	$3.0M	$6.8M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,453.7	+1.119%	$751.5M	$492.9M	10x	as long as short
Pacifica ZEC	+0.0100%	1h	1,451.5	+0.969%	$1.6M	$3.1M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,454.1	+1.150%	$659.6M	$2.55B	75x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,455	+1.207%	$896K	$37K	10x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,452.9	+1.064%	$103.6M	$57.3M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,453.3	+1.092%	$162.0M	$317.0M	75x	as long as short
BingX ZEC-USDTshort	+0.0100%	8h	1,453.6	+1.112%	—	$106.9M	—
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,453.9	+1.130%	$2.3M	$4.2M	15x	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,453.4	+1.098%	$487K	$9.8M	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	1,454.1	+1.144%	$707K	$606K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,452	+1.000%	$109K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,452	+1.001%	$298K	$2.1M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,452.3	+1.021%	$127K	$161K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,451.6	+0.970%	$441K	$493K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,455.7	+1.255%	$3K	$1.3M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,452.6	+1.045%	$220K	$4.7M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,452.1	+1.011%	$2.4M	$25.3M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,452.9	+1.063%	$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
Lighter ZEC	+0.0104%	1h	1,454.4	+1.169%	$18.8M	$53.9M	20x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,452.7	+1.052%	$36K	$362K	20x	as long as short
RISEx ZEC/USDC	+0.0219%	1h	1,452.6	+1.041%	$862K	$2.5M	10x	as long as short
Extended ZEC-USD	+0.0312%	1h	1,452.9	+1.065%	$3.3M	$7.0M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0440%	1h	1,454.3	+1.160%	$3.7M	$11.5M	50x	as long as short
Aftermath Perps ZECUSD	+0.0464%	1h	1,453.2	+1.084%	$39K	$32K	10x	as long as short
Arcus ZEC-USD	+0.0518%	1h	1,454.1	+1.146%	$756K	$7.8M	10x	as long as short
Lighter RH ZEC	+0.0680%	1h	1,454.8	+1.197%	$1.9M	$8.4M	10x	as long as short