Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0252%/8h= +27.6% APRpaid last 24h +0.095%

Price spread now: Coinbase International against OKX+0.060%7-day average +0.134% · you sell dearer than you buy

Net, funding: paid 7d − costs−$8as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$340.337% of the position

Long on OKX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.256%+$26 on $10k

Price spread, last 4 days (all we have)+0.763%+$76 · spread now +0.060%, 7d avg +0.134%

Together, before fees+1.020%+$102 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.073% cheaper against OKX than usual: you would sell low and buy high (spread +0.060% now, against its 7-day average of +0.134%). If the spread goes back, that is −$7 on $10k: about 23 hours of funding at the current rate (+$8 a day). At the pace of the last 7 days (+0.256% in total) that is about 48 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ZEC-USDT-SWAP	1,504.9	0.0100	pay 0.0100% / 8h	5h 57m	$185.8M	$1.31B	50x
Short	Coinbase International ZEC-PERP-INTX	1,505.8	0.0352	get 0.0044% / 1h	57m 40s	$3.9M	$9.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against OKX. 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 OKXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.060%Rate

Funding earned: $52.92
Price spread: +0.060% → +0.134%: −$7.31
Slippage, 4 orders: −$13.69
Fee OKX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $11.92
Costs to cover: 0.337%
Break-even: 5.4 days

Slippage from OKX: live order book, 5 min ago; Coinbase International: live order book, 4 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 OKX live order book, 5 min ago	0.03 bp	5.1 bp −$5	8.1 bp −$81	16.4 bp −$1,641	doesn't fit
Sell Coinbase International live order book, 4 min ago	5.31 bp	10.8 bp −$11	16.0 bp −$160	44.4 bp −$4,444	doesn't fit

ZEC on 50 exchanges

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	−0.4130%	1h	1,480	−1.657%	$36K	$267K	12x	as long as short
BloFin ZEC-USDT	−0.0190%	8h	1,505	+0.002%	$31.9M	$73.6M	75x	as long as short
Ondo Perps ZEC-USD.P	−0.0174%	1h	1,504.1	−0.054%	$408K	$499K	5x	as long as short
Aftermath Perps ZECUSD	−0.0098%	1h	1,504	−0.061%	$46K	$58K	10x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,503.6	−0.088%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,504	−0.061%	$414K	$37K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,505.2	+0.018%	$1.5M	$4.9M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,503.5	−0.094%	$63K	$300K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,503.8	−0.073%	$5.4M	—	150x	as long as short
01 Exchange ZECUSD	+0.0024%	1h	1,505.3	+0.023%	$8K	$6K	5x	as long as short

Show all 50 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx ZEC/USDC	+0.0032%	1h	1,504.1	−0.055%	$909K	$1.3M	10x	as long as short
Orderly PERP_ZEC_USDC	+0.0072%	8h	1,503.2	−0.117%	$303K	$856K	20x	as long as short
Lighter ZEC	+0.0096%	1h	1,506.2	+0.086%	$20.0M	$38.9M	20x	as long as short
Lighter RH ZEC	+0.0096%	1h	1,506.5	+0.103%	$2.0M	$7.0M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,505.1	+0.009%	$170K	$1.5M	50x	as long as short
Aster ZECUSDT	+0.0097%	8h	1,504.8	−0.011%	$14.1M	$26.9M	75x	as long as short
Kraken Futures PF_ZECUSD	+0.0099%	1h	1,504.8	−0.008%	$18.5M	$46.2M	25x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,505.1	+0.013%	$62K	$14K	10x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,504.6	−0.025%	$25K	$880K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,504.6	−0.019%	$3.1M	$7.1M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,505.8	+0.058%	$789.9M	$431.7M	10x	as long as short
Pacifica ZEC	+0.0100%	1h	1,505.5	+0.038%	$1.7M	$1.9M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,505	+0.006%	$708.3M	$2.20B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,505	+0.005%	$276.4M	$589.9M	75x	as long as short
OKX ZEC-USDT-SWAPlong	+0.0100%	8h	1,504.9	long leg	$185.8M	$1.31B	50x
Arcus ZEC-USD	+0.0100%	1h	1,505.8	+0.055%	$592K	$8.4M	10x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,504.2	−0.051%	$780K	$158K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,504.9	−0.003%	$62.9M	$170.8M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,505.3	+0.022%	$177.9M	$821.8M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,505	+0.003%	$105.5M	$53.5M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,505.1	+0.009%	$164.4M	$280.1M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,504.8	−0.005%	—	$122.6M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,505.3	+0.023%	$2.2M	$3.7M	15x	as long as short
Variational Omni ZEC	+0.0100%	8h	1,503.5	−0.096%	$49.4M	$34.2M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,503.8	−0.076%	$549K	$8.7M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,505.7	+0.055%	$3.1M	$599K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,504.2	−0.045%	$411K	$948K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,505.1	+0.013%	$112K	$4.5M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,503.7	−0.081%	$371K	$1.6M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,503.7	−0.082%	$167K	$188K	20x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,505.8	+0.056%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,503.6	−0.085%	$257K	$3.6M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,503.9	−0.066%	$2.7M	$20.5M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,504.9	−0.001%	$4.0M	$4.8M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,505.2	+0.021%	$2.7M	$7.1M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,503.8	−0.077%	$37K	$163K	20x	as long as short
Phoenix ZEC	+0.0139%	1h	1,503.9	−0.071%	$4.8M	$1.3M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0160%	1h	1,504.3	−0.040%	$685K	$1.3M	25x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0184% / S −0.0195%	1h	1,504.4	−0.036%	$350K	—	100x	as long as short
Coinbase International ZEC-PERP-INTXshort	+0.0352%	1h	1,505.8	+0.060%	$3.9M	$9.5M	50x