Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0324%/8h= +35.5% APRpaid last 24h +0.087%

Price spread now: Coinbase International against MEXC+0.083%7-day average +0.130% · you sell dearer than you buy

Net, funding: paid 7d − costs−$9as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$240.238% of the position

Long on MEXC Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.145%+$15 on $10k

Price spread, last 3 days (all we have)+0.525%+$53 · spread now +0.083%, 7d avg +0.130%

Together, before fees+0.670%+$67 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.047% cheaper against MEXC than usual: you would sell low and buy high (spread +0.083% now, against its 7-day average of +0.130%). If the spread goes back, that is −$5 on $10k: about 12 hours of funding at the current rate (+$10 a day). At the pace of the last 7 days (+0.145% in total) that is about 2.3 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.145% in total (about 7.6% 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	MEXC ZEC_USDT	1,462.9	0.0100	pay 0.0100% / 8h	1h 35m	$222.7M	$860.5M	150x
Short	Coinbase International ZEC-PERP-INTX	1,464.1	0.0424	get 0.0053% / 1h	35m 47s	$3.7M	$11.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.083%Rate

Funding earned: $68.04
Price spread: +0.083% → +0.130%: −$4.73
Slippage, 4 orders: −$13.85
Fee MEXC: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $39.46
Costs to cover: 0.238%
Break-even: 2.9 days

Slippage from MEXC: live order book, 3 min ago; Coinbase International: 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	0.20 bp	0.2 bp $0	0.5 bp −$5	45.6 bp −$4,565	79.1 bp −$39.6K
Sell Coinbase International live order book, 3 min ago	1.74 bp	11.5 bp −$11	15.5 bp −$155	45.2 bp −$4,520	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	1,462.2	−0.044%	$34K	$275K	12x	as long as short
Kraken Futures PF_ZECUSD	−0.0405%	1h	1,462.1	−0.056%	$17.8M	$44.8M	25x	as long as short
Ondo Perps ZEC-USD.P	−0.0220%	1h	1,459.3	−0.244%	$396K	$518K	5x	as long as short
BloFin ZEC-USDT	−0.0089%	8h	1,461.8	−0.070%	$29.3M	$75.2M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,462.2	−0.048%	$6K	$2K	10x	as long as short
Bybit ZECUSDT	−0.0050%	8h	1,462.1	−0.050%	$270.8M	$673.6M	75x	as long as short
Variational Omni ZEC	−0.0026%	8h	1,465.3	+0.163%	$46.6M	$34.0M	—	as long as short
ApeX Omni ZECUSDT	−0.0024%	1h	1,463.5	+0.042%	$430K	$820K	50x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L −0.0017% / S +0.0093%	1h	1,462.7	−0.015%	$540K	—	100x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,461.6	−0.086%	$412K	$106K	5x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXZECPERP	0.0000%	8h	1,462.8	−0.008%	$885K	$5.7M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,461.9	−0.068%	$83K	$404K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,462.8	−0.006%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0014%	8h	1,462.4	−0.034%	$292K	$1.5M	20x	as long as short
Bulk ZEC-USD	+0.0030%	1h	1,466	+0.215%	$905K	$27K	10x	as long as short
OKX ZEC-USDT-SWAP	+0.0047%	8h	1,462.9	0.000%	$175.6M	$1.35B	50x	as long as short
Gate ZEC_USDT	+0.0048%	8h	1,461.9	−0.066%	$50.0M	$184.8M	75x	as long as short
01 Exchange ZECUSD	+0.0056%	1h	1,462.5	−0.023%	$8K	$8K	5x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0073%	1h	1,463.3	+0.027%	$595K	$1.3M	25x	as long as short
Phoenix ZEC	+0.0075%	1h	1,461.4	−0.103%	$4.6M	$1.6M	10x	as long as short
Katana Perps ZEC-USD	+0.0096%	8h	1,462.6	−0.018%	$14K	$862K	10x	as long as short
Lighter ZEC	+0.0096%	1h	1,464.3	+0.096%	$19.0M	$52.5M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,462.1	−0.050%	$173K	$1.9M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,462.4	−0.029%	$60K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,462.3	−0.037%	$2.5M	$6.9M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,463	+0.009%	$758.3M	$484.8M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,462.5	−0.023%	$15.6M	$33.3M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,463.2	+0.026%	$1.7M	$3.0M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,462.9	−0.001%	$674.0M	$2.50B	75x	as long as short
MEXC ZEC_USDTlong	+0.0100%	8h	1,462.9	long leg	$222.7M	$860.5M	150x
KuCoin ZECUSDTM	+0.0100%	8h	1,462.2	−0.044%	$103.6M	$56.3M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,462.4	−0.033%	$161.7M	$306.9M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,462.4	−0.032%	—	$103.3M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,463.4	+0.034%	$509K	$9.5M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,462.3	−0.037%	$3.0M	$481K	10x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,462.6	−0.019%	$109K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,462	−0.059%	$343K	$1.9M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,462.2	−0.044%	$127K	$160K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,460.9	−0.133%	$446K	$502K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,464.4	+0.102%	$3K	$1.3M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,462.1	−0.050%	$222K	$4.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,461.2	−0.113%	$2.5M	$24.1M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,462.6	−0.021%	$3.8M	$5.4M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,462.2	−0.046%	$3.2M	$6.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,462.4	−0.033%	$36K	$367K	20x	as long as short
Backpack ZEC_USDC_PERP	+0.0188%	1h	1,462.8	−0.003%	$2.3M	$3.8M	15x	as long as short
RISEx ZEC/USDC	+0.0190%	1h	1,462.4	−0.030%	$841K	$1.7M	10x	as long as short
Lighter RH ZEC	+0.0384%	1h	1,464.4	+0.102%	$2.0M	$8.2M	10x	as long as short
Coinbase International ZEC-PERP-INTXshort	+0.0424%	1h	1,464.1	+0.083%	$3.7M	$11.6M	50x
Arcus ZEC-USD	+0.0444%	1h	1,463.4	+0.038%	$741K	$8.1M	10x	as long as short
Aftermath Perps ZECUSD	+0.0540%	1h	1,464.2	+0.092%	$40K	$34K	10x	as long as short