Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0099%/8h= +10.8% APRpaid last 24h +0.009%

Price spread now: GMX against OKX−0.116%7-day average +0.035% · you buy dearer than you sell

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

Long on OKX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.077%−$8 on $10k

Price spread, last 4 days (all we have)+0.222%+$22 · spread now −0.116%, 7d avg +0.035%

Together, before fees+0.145%+$14 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.151% cheaper against OKX than usual: you would sell low and buy high (spread −0.116% now, against its 7-day average of +0.035%). If the spread goes back, that is −$15 on $10k: about 5.1 days of funding at the current rate (+$3 a day). Mind the row above: over the last 3 days funding on this pair cost −0.077%, 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	OKX ZEC-USDT-SWAP	1,506	0.0100	pay 0.0100% / 8h	40m 51s	$183.7M	$1.35B	50x
Short	GMX ZEC/USD [WBTC.b-USDC]	1,504.2	L +0.0161% / S −0.0199%	get 0.0025% / 1h	40m 51s	$437K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.116%Rate

Funding earned: $20.75
Price spread: −0.116% → +0.035%: −$15.12
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$16.37
Costs to cover: 0.220%
Break-even: 12.5 days

Slippage unknown: OKX: live order book, 3 min ago; GMX: 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 OKX live order book, 3 min ago	0.03 bp	5.9 bp −$6	8.3 bp −$83	18.1 bp −$1,806	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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 PERP	−0.3442%	1h	1,504.3	−0.114%	$37K	$275K	12x	as long as short
Perpl ZEC	−0.0447%	43m	1,502.1	−0.258%	$62K	$304K	10x	as long as short
BloFin ZEC-USDT	−0.0180%	8h	1,504.4	−0.106%	$31.0M	$75.8M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,503.9	−0.139%	$6K	$1K	10x	as long as short
Aftermath Perps ZECUSD	−0.0072%	1h	1,501	−0.333%	$48K	$59K	10x	as long as short
Bulk ZEC-USD	−0.0053%	1h	1,497	−0.594%	$904K	$2K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,504.2	−0.119%	$418K	$35K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,503.6	−0.159%	$1.5M	$4.4M	2.2x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,504.3	−0.111%	$5.3M	—	150x	as long as short
Kraken Futures PF_ZECUSD	+0.0012%	1h	1,504.4	−0.106%	$18.1M	$46.7M	25x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_ZEC_USDC	+0.0083%	8h	1,503.5	−0.167%	$303K	$1.1M	20x	as long as short
Phoenix ZEC	+0.0096%	1h	1,505.2	−0.052%	$4.8M	$1.4M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,503.6	−0.157%	$175K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0098%	8h	1,503.9	−0.140%	$14K	$878K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,503.4	−0.172%	$62K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,504.6	−0.088%	$3.1M	$7.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,505.6	−0.025%	$786.7M	$445.6M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,505.5	−0.032%	$14.1M	$31.1M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,504.3	−0.113%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,506	+0.001%	$704.6M	$2.31B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,505.5	−0.030%	$271.3M	$623.4M	75x	as long as short
OKX ZEC-USDT-SWAPlong	+0.0100%	8h	1,506	long leg	$183.7M	$1.35B	50x
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,500.8	−0.343%	$411K	$563K	5x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,505.5	−0.031%	$56.4M	$183.2M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,505.5	−0.033%	$239.6M	$792.9M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,504.5	−0.100%	$103.6M	$57.3M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,505.8	−0.011%	$162.6M	$289.6M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,504.9	−0.072%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,503	−0.200%	$49.1M	$34.6M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,503.8	−0.143%	$575K	$9.0M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,500.8	−0.341%	$3.1M	$507K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,499.8	−0.411%	$413K	$945K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,504.9	−0.073%	$56K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,503.7	−0.151%	$359K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,503.8	−0.141%	$165K	$184K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,502.8	−0.210%	$459K	$500K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,506	+0.003%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,503.9	−0.141%	$254K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,502.8	−0.212%	$2.7M	$20.5M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,504.2	−0.119%	$4.0M	$4.9M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,504.1	−0.123%	$2.8M	$7.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,503.6	−0.156%	$43K	$151K	20x	as long as short
01 Exchange ZECUSD	+0.0112%	1h	1,504	−0.133%	$8K	$6K	5x	as long as short
RISEx ZEC/USDC	+0.0128%	1h	1,503.6	−0.158%	$945K	$1.1M	10x	as long as short
Lighter RH ZEC	+0.0136%	1h	1,505.8	−0.012%	$2.1M	$7.4M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]short	L +0.0161% / S −0.0199%	1h	1,504.2	−0.116%	$437K	—	100x
Deribit ZEC_USDC-PERPETUAL	+0.0161%	1h	1,504.6	−0.094%	$687K	$1.4M	25x	as long as short
Lighter ZEC	+0.0232%	1h	1,505.9	−0.003%	$19.8M	$45.2M	20x	as long as short
Arcus ZEC-USD	+0.0403%	1h	1,504.4	−0.106%	$607K	$8.8M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0416%	1h	1,504.9	−0.072%	$3.7M	$10.2M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0541%	1h	1,504.9	−0.073%	$2.4M	$3.9M	15x	as long as short