Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.3142%/8h= −344.0% APRpaid last 24h −0.644%

Price spread now: Injective against OKX−0.092%7-day average +0.080% · you buy dearer than you sell

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

Long on OKX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−2.195%−$220 on $10k

Price spread, last 4 days (all we have)+0.851%+$85 · spread now −0.092%, 7d avg +0.080%

Together, before fees−1.345%−$134 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$94 a day on $10k at the current rate, and Injective is 0.172% cheaper against OKX than usual: you would sell low and buy high (−$17 if the spread goes back to its 7-day average of +0.080%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -2.195% in total (about -114.5% 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	OKX ZEC-USDT-SWAP	1,464.4	0.0100	pay 0.0100% / 8h	3h 10m	$179.4M	$1.21B	50x
Short	Injective ZEC/USDC PERP	1,463	−0.3042	pay 0.0380% / 1h	10m 47s	$34K	$272K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.092%Rate

Funding earned: −$659.79
Price spread: −0.092% → +0.080%: −$17.17
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$686.98
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 3 min ago; Injective: live order book, 43 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 OKX live order book, 3 min ago	0.03 bp	5.2 bp −$5	6.6 bp −$66	15.9 bp −$1,590	doesn't fit
Sell Injective live order book, 43 min ago	59.94 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	−0.3042%	1h	1,463	−0.092%	$34K	$272K	12x
Hotstuff ZEC-PERP	−0.0080%	1h	1,464.4	+0.004%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0071%	8h	1,466.1	+0.119%	$29.7M	$71.0M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,466	+0.108%	$407K	$38K	5x	as long as short
Perpl ZEC	0.0000%	43m	1,465.1	+0.046%	$84K	$239K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,465.6	+0.082%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0063%	8h	1,465.3	+0.059%	$293K	$908K	20x	as long as short
Ondo Perps ZEC-USD.P	+0.0076%	1h	1,460.4	−0.272%	$397K	$435K	5x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0088% / S −0.0039%	1h	1,465.5	+0.078%	$437K	—	100x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,465.6	+0.083%	$173K	$1.6M	50x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps ZEC-USD	+0.0100%	8h	1,466.2	+0.126%	$14K	$804K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,466.5	+0.146%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,466.1	+0.116%	$2.9M	$6.5M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,465	+0.042%	$14.6M	$27.9M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,466.5	+0.144%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,464.8	+0.031%	$674.4M	$2.18B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,464.5	+0.007%	$262.4M	$589.9M	75x	as long as short
OKX ZEC-USDT-SWAPlong	+0.0100%	8h	1,464.4	long leg	$179.4M	$1.21B	50x
Bulk ZEC-USD	+0.0100%	1h	1,460.6	−0.257%	$882K	$17K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,464.8	+0.029%	$52.2M	$173.2M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,465.1	+0.048%	$220.5M	$774.7M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,466.5	+0.141%	$103.3M	$53.1M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,464.8	+0.030%	$166.3M	$268.0M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,464.6	+0.015%	—	$106.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,464.4	+0.002%	$48.0M	$32.5M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,461.5	−0.194%	$569K	$8.5M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,463.2	−0.083%	$3.0M	$464K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,461.4	−0.205%	$404K	$945K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,462.9	−0.100%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,465.6	+0.083%	$358K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,465.7	+0.093%	$161K	$186K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,464.1	−0.016%	$447K	$504K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,467.6	+0.216%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,465.5	+0.076%	$235K	$3.1M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,464.6	+0.014%	$2.7M	$18.2M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,465.5	+0.079%	$3.9M	$4.9M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,465.2	+0.055%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,465.2	+0.053%	$47K	$151K	20x	as long as short
Phoenix ZEC	+0.0116%	1h	1,462.7	−0.115%	$4.7M	$1.3M	10x	as long as short
01 Exchange ZECUSD	+0.0120%	1h	1,466.3	+0.130%	$8K	$7K	5x	as long as short
Lighter RH ZEC	+0.0128%	1h	1,467.7	+0.223%	$2.1M	$7.0M	10x	as long as short
Hyperliquid ZEC	+0.0145%	1h	1,466	+0.111%	$763.9M	$424.9M	10x	as long as short
Lighter ZEC	+0.0176%	1h	1,467	+0.181%	$19.5M	$45.4M	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0178%	1h	1,466.2	+0.122%	$617K	$1.3M	25x	as long as short
Kalshi KXZECPERP	+0.0179%	8h	1,466.2	+0.123%	$1.5M	$4.4M	2.2x	as long as short
RISEx ZEC/USDC	+0.0216%	1h	1,466.4	+0.137%	$927K	$1.1M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0297%	1h	1,466.4	+0.141%	$2.4M	$3.8M	15x	as long as short
Kraken Futures PF_ZECUSD	+0.0331%	1h	1,465.4	+0.067%	$18.1M	$45.4M	25x	as long as short
Arcus ZEC-USD	+0.0344%	1h	1,467	+0.181%	$681K	$8.1M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0464%	1h	1,468.4	+0.272%	$3.8M	$9.2M	50x	as long as short
Aftermath Perps ZECUSD	+0.0685%	1h	1,462.2	−0.151%	$45K	$49K	10x	as long as short