Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0153%/8h= +16.8% APRpaid last 24h +0.013%

Price spread now: Backpack against MEXC+0.102%7-day average +0.364% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$130.131% of the position

Long on MEXC Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.101%−$10 on $10k

Price spread, last 7 days−1.054%−$105 · spread now +0.102%, 7d avg +0.364%

Together, before fees−1.155%−$115 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.262% cheaper against MEXC than usual: you would sell low and buy high (spread +0.102% now, against its 7-day average of +0.364%). If the spread goes back, that is −$26 on $10k: about 5.7 days of funding at the current rate (+$5 a day). Mind the row above: over the last 7 days funding on this pair cost −0.101%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ZEC_USDT	1,458.4	0.0100	pay 0.0100% / 8h	1h 50m	$221.1M	$851.6M	150x
Short	Backpack ZEC_USDC_PERP	1,459.9	0.0253	get 0.0032% / 1h	50m 55s	$2.3M	$4.0M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against MEXC. 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 MEXCbpFee BackpackbpOrdersPrice spread, now +0.102%Rate

Funding earned: $32.21
Price spread: +0.102% → +0.364%: −$26.18
Slippage, 4 orders: −$3.11
Fee MEXC: 0 bp × 2 orders: $0
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$7.08
Costs to cover: 0.131%
Break-even: 8.5 days

Slippage from MEXC: live order book, 3 min ago; Backpack: live order book, 3 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 MEXC live order book, 3 min ago	0.03 bp	0.0 bp $0	0.0 bp $0	1.9 bp −$189	59.3 bp −$29.7K
Sell Backpack live order book, 3 min ago	0.03 bp	7.2 bp −$7	20.6 bp −$206	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 PERP	−0.3310%	1h	1,462.9	+0.309%	$34K	$275K	12x	as long as short
Kraken Futures PF_ZECUSD	−0.0406%	1h	1,459.3	+0.060%	$17.7M	$44.6M	25x	as long as short
BloFin ZEC-USDT	−0.0094%	8h	1,459	+0.041%	$29.1M	$75.3M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,460.9	+0.169%	$6K	$2K	10x	as long as short
Ondo Perps ZEC-USD.P	−0.0063%	1h	1,466	+0.518%	$397K	$518K	5x	as long as short
Bybit ZECUSDT	−0.0045%	8h	1,457.1	−0.089%	$268.9M	$677.5M	75x	as long as short
Variational Omni ZEC	−0.0022%	8h	1,467.5	+0.623%	$46.8M	$34.4M	—	as long as short
ApeX Omni ZECUSDT	−0.0002%	1h	1,461.6	+0.213%	$429K	$817K	50x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,459.9	+0.103%	$411K	$106K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,460.7	+0.158%	$934K	$5.6M	2.2x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl ZEC	0.0000%	43m	1,458.8	+0.025%	$83K	$401K	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	0.0000%	1h	1,460.6	+0.150%	$594K	$1.3M	25x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,460.6	+0.151%	$5.2M	—	150x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0009% / S +0.0078%	1h	1,460.6	+0.146%	$558K	—	100x	as long as short
Orderly PERP_ZEC_USDC	+0.0015%	8h	1,460.2	+0.123%	$293K	$1.5M	20x	as long as short
OKX ZEC-USDT-SWAP	+0.0052%	8h	1,458.1	−0.025%	$174.8M	$1.36B	50x	as long as short
Bulk ZEC-USD	+0.0054%	1h	1,460.6	+0.146%	$899K	$25K	10x	as long as short
01 Exchange ZECUSD	+0.0056%	1h	1,460.4	+0.134%	$8K	$8K	5x	as long as short
Gate ZEC_USDT	+0.0058%	8h	1,458.3	−0.008%	$49.7M	$183.6M	75x	as long as short
Phoenix ZEC	+0.0075%	1h	1,467	+0.586%	$4.6M	$1.6M	10x	as long as short
Katana Perps ZEC-USD	+0.0096%	8h	1,460.1	+0.111%	$14K	$862K	10x	as long as short
Lighter ZEC	+0.0096%	1h	1,460.3	+0.125%	$18.9M	$52.3M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,459.5	+0.069%	$172K	$2.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,459.3	+0.058%	$60K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,461.2	+0.191%	$2.5M	$7.0M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,459.9	+0.102%	$757.3M	$488.7M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,458.5	+0.001%	$15.3M	$33.6M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,460	+0.108%	$1.7M	$3.1M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,458.5	+0.005%	$669.0M	$2.52B	75x	as long as short
MEXC ZEC_USDTlong	+0.0100%	8h	1,458.4	long leg	$221.1M	$851.6M	150x
KuCoin ZECUSDTM	+0.0100%	8h	1,459.1	+0.045%	$103.0M	$56.7M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,457.8	−0.044%	$161.4M	$309.4M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,458.9	+0.031%	—	$103.4M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,461.1	+0.184%	$509K	$9.5M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,466.2	+0.535%	$3.0M	$492K	10x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,461.3	+0.193%	$109K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,459.9	+0.100%	$343K	$2.0M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,460.3	+0.128%	$127K	$160K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,458.7	+0.016%	$446K	$503K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,461.5	+0.211%	$3K	$1.3M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,459.3	+0.061%	$221K	$4.7M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,459	+0.038%	$2.4M	$24.1M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,459.3	+0.058%	$3.8M	$5.4M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,458.9	+0.033%	$3.2M	$7.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,459.9	+0.099%	$36K	$362K	20x	as long as short
RISEx ZEC/USDC	+0.0190%	1h	1,460.1	+0.117%	$841K	$1.8M	10x	as long as short
Backpack ZEC_USDC_PERPshort	+0.0253%	1h	1,459.9	+0.102%	$2.3M	$4.0M	15x
Lighter RH ZEC	+0.0416%	1h	1,460.8	+0.158%	$2.0M	$8.2M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0424%	1h	1,461.4	+0.204%	$3.7M	$11.6M	50x	as long as short
Arcus ZEC-USD	+0.0444%	1h	1,461.1	+0.180%	$741K	$8.1M	10x	as long as short
Aftermath Perps ZECUSD	+0.0512%	1h	1,463.4	+0.341%	$40K	$34K	10x	as long as short