Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.3189%/8h= +349.2% APRpaid last 24h +0.464%

Price spread now: Paradex against Injective−0.132%99s7-day average — · you buy dearer than you sell

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

Long on Injective Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding pays, the price is against you. Paradex is 0.132% cheaper against Injective than usual: you would sell low and buy high (spread −0.132% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 3 hours of funding at the current rate (+$96 a day). The two prices were read 99 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	Injective ZEC/USDC PERP	1,472.8	−0.3089	get 0.0386% / 1h	59m 47s	$34K	$275K	12x
Short	Paradex ZEC-USD-PERP	1,470.8	0.0100	get 0.0100% / 8h	7h 59m	$60K	$39K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.132%Rate

Funding earned: $669.62
Price spread: −0.132% → 0.000%: −$13.22
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Paradex: 2 bp × 2 orders: −$4
Net: $652.38
Costs to cover: 0.040%
Break-even: 0.2 days

Slippage unknown: Injective: live order book, 14 min ago; Paradex: no order-book sample. 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, 14 min ago	61.95 bp	2506077.0 bp −$2.51M	24342020.0 bp −$243.42M	235923488.0 bp −$23592.35M	1159988224.0 bp −$579994.11M
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.3089%	1h	1,472.8	long leg	$34K	$275K	12x
Kraken Futures PF_ZECUSD	−0.0225%	1h	1,470.9	−0.129%	$17.9M	$43.8M	25x	as long as short
BloFin ZEC-USDT	−0.0101%	8h	1,470.3	−0.168%	$29.6M	$74.6M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,470.5	−0.151%	$6K	$2K	10x	as long as short
Variational Omni ZEC	−0.0063%	8h	1,469.3	−0.237%	$47.6M	$34.4M	—	as long as short
dYdX ZEC-USD	0.0000%	1h	1,470.9	−0.125%	$414K	$104K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,469.7	−0.208%	$957K	$5.6M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,470.3	−0.168%	$84K	$406K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,470.9	−0.126%	$5.2M	—	150x	as long as short
01 Exchange ZECUSD	+0.0008%	1h	1,470.6	−0.145%	$8K	$8K	5x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit ZEC_USDC-PERPETUAL	+0.0011%	1h	1,471.6	−0.078%	$614K	$1.3M	25x	as long as short
Orderly PERP_ZEC_USDC	+0.0016%	8h	1,470.6	−0.150%	$294K	$1.4M	20x	as long as short
Phoenix ZEC	+0.0024%	1h	1,473.2	+0.029%	$4.7M	$1.6M	10x	as long as short
ApeX Omni ZECUSDT	+0.0037%	1h	1,472.7	−0.005%	$432K	$845K	50x	as long as short
OKX ZEC-USDT-SWAP	+0.0037%	8h	1,470.8	−0.136%	$181.7M	$1.34B	50x	as long as short
Gate ZEC_USDT	+0.0047%	8h	1,470.7	−0.143%	$51.1M	$188.1M	75x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0054% / S −0.0010%	1h	1,470.9	−0.128%	$371K	—	100x	as long as short
Ondo Perps ZEC-USD.P	+0.0095%	1h	1,470	−0.188%	$399K	$520K	5x	as long as short
Lighter ZEC	+0.0096%	1h	1,472.6	−0.015%	$19.2M	$50.2M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,470.2	−0.177%	$174K	$1.9M	50x	as long as short
Katana Perps ZEC-USD	+0.0097%	8h	1,471.1	−0.113%	$19K	$845K	10x	as long as short
SoDEX ZEC-USD	+0.0098%	1h	1,470.6	−0.149%	$242K	$4.4M	10x	as long as short
Paradex ZEC-USD-PERPshort	+0.0100%	8h	1,470.8	−0.132%	$60K	$39K	10x
Nado ZEC-PERP	+0.0100%	1h	1,470.9	−0.125%	$2.6M	$6.8M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,470.7	−0.139%	$15.0M	$32.5M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,471.5	−0.088%	$1.7M	$2.9M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,470.9	−0.130%	$683.0M	$2.45B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,470.4	−0.160%	$274.8M	$649.6M	75x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,472.1	−0.042%	$700K	$8.5M	10x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,472.8	+0.001%	$896K	$38K	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,470.8	−0.132%	$229.1M	$818.2M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,470.9	−0.124%	$104.5M	$56.3M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,470.8	−0.136%	$163.5M	$300.7M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,469.7	−0.208%	—	$6.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,473.4	+0.043%	$513K	$9.1M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,474	+0.081%	$3.0M	$454K	10x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,471.4	−0.092%	$110K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,470	−0.188%	$333K	$1.9M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,470.3	−0.170%	$128K	$159K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,469	−0.256%	$458K	$508K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,472.6	−0.014%	$3K	$1.2M	20x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,470	−0.190%	$2.5M	$22.5M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,471	−0.121%	$3.9M	$5.4M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,471	−0.123%	$3.2M	$7.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,470.7	−0.139%	$37K	$366K	20x	as long as short
RISEx ZEC/USDC	+0.0228%	1h	1,471.3	−0.099%	$838K	$1.2M	10x	as long as short
Hyperliquid ZEC	+0.0241%	1h	1,472	−0.056%	$762.6M	$472.7M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0396%	1h	1,471.3	−0.101%	$2.5M	$3.8M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0432%	1h	1,472.9	+0.006%	$3.8M	$10.6M	50x	as long as short
Lighter RH ZEC	+0.0456%	1h	1,473.1	+0.024%	$2.0M	$7.9M	10x	as long as short
Aftermath Perps ZECUSD	+0.0775%	1h	1,472.2	−0.040%	$46K	$46K	10x	as long as short