Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.3266%/8h= −357.6% APRpaid last 24h −0.608%

Price spread now: Injective against MEXC+0.056%70s7-day average +0.074% · you sell dearer than you buy

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

Long on MEXC Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−2.229%−$223 on $10k

Price spread, last 4 days (all we have)+0.939%+$94 · spread now +0.056%, 7d avg +0.074%

Together, before fees−1.290%−$129 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.074%, so right now this pair is about funding alone: −$98 a day on $10k at the current rate. The two prices were read 70 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 -2.229% in total (about -116.2% 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	1,447.2	0.0100	pay 0.0100% / 8h	4h 48m	$214.6M	$768.2M	150x
Short	Injective ZEC/USDC PERP	1,448	−0.3166	pay 0.0396% / 1h	48m 05s	$33K	$272K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.056%Rate

Funding earned: −$685.9
Price spread: +0.056% → +0.074%: −$1.83
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$687.75
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 1 min ago; Injective: live order book, 11 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 MEXC live order book, 1 min ago	0.04 bp	0.0 bp $0	0.2 bp −$2	2.3 bp −$229	59.0 bp −$29.5K
Sell Injective live order book, 11 min ago	48.95 bp	doesn't fit	doesn't fit	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 PERPshort	−0.3166%	1h	1,448	+0.056%	$33K	$272K	12x
Hotstuff ZEC-PERP	−0.0080%	1h	1,446.5	−0.042%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0074%	8h	1,446.4	−0.049%	$29.1M	$70.3M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,447	−0.012%	$407K	$40K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,447.7	+0.037%	$1.5M	$4.5M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,447.4	+0.019%	$83K	$240K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,447.8	+0.043%	$5.1M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0058%	8h	1,447.3	+0.007%	$290K	$958K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0064% / S −0.0015%	1h	1,447.5	+0.026%	$407K	—	100x	as long as short
01 Exchange ZECUSD	+0.0072%	1h	1,448.3	+0.078%	$8K	$7K	5x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex ZECUSDT	+0.0096%	1h	1,448	+0.060%	$173K	$1.7M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,447.1	−0.002%	$10K	$874K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,447.6	+0.033%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,448	+0.061%	$2.5M	$6.3M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,448.2	+0.073%	$753.2M	$434.5M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,447.5	+0.021%	$14.4M	$27.7M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,447.2	+0.002%	$1.6M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,447.3	+0.011%	$663.8M	$2.22B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,446.7	−0.032%	$260.9M	$602.8M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,447.3	+0.010%	$176.7M	$1.22B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,445.7	−0.100%	$394K	$442K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,449.4	+0.158%	$876K	$23K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,447.1	−0.001%	$50.0M	$172.4M	75x	as long as short
MEXC ZEC_USDTlong	+0.0100%	8h	1,447.2	long leg	$214.6M	$768.2M	150x
KuCoin ZECUSDTM	+0.0100%	8h	1,447.2	+0.006%	$101.9M	$54.8M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,447.3	+0.013%	$164.3M	$273.9M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,447.1	−0.005%	—	$100.6M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,447.9	+0.048%	$2.5M	$3.8M	15x	as long as short
Variational Omni ZEC	+0.0100%	8h	1,447.2	0.000%	$47.4M	$32.8M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,449.2	+0.145%	$564K	$8.7M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,448.8	+0.113%	$3.0M	$424K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,447.1	−0.006%	$405K	$916K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,446.7	−0.032%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,447.5	+0.024%	$364K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,447.8	+0.046%	$160K	$185K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,446.2	−0.066%	$441K	$521K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,450.7	+0.243%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,447.1	−0.004%	$232K	$3.4M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,446.4	−0.055%	$2.6M	$18.2M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,447.4	+0.015%	$3.8M	$5.1M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,447.1	−0.006%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,446.5	−0.043%	$47K	$151K	20x	as long as short
Phoenix ZEC	+0.0123%	1h	1,448.9	+0.122%	$4.6M	$1.3M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0259%	1h	1,447.8	+0.047%	$608K	$1.3M	25x	as long as short
Kraken Futures PF_ZECUSD	+0.0279%	1h	1,447	−0.009%	$17.9M	$44.9M	25x	as long as short
Lighter ZEC	+0.0368%	1h	1,448.6	+0.097%	$19.0M	$45.9M	20x	as long as short
RISEx ZEC/USDC	+0.0412%	1h	1,448.5	+0.094%	$932K	$1.1M	10x	as long as short
Lighter RH ZEC	+0.0416%	1h	1,448.8	+0.116%	$2.0M	$6.9M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0448%	1h	1,449.3	+0.151%	$3.8M	$9.0M	50x	as long as short
Arcus ZEC-USD	+0.0626%	1h	1,449.9	+0.190%	$738K	$8.3M	10x	as long as short
Aftermath Perps ZECUSD	+0.0671%	1h	1,448.7	+0.109%	$44K	$49K	10x	as long as short