Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0401%/8h= +43.9% APRpaid last 24h +0.098%

Price spread now: Coinbase International against Orderly+0.071%7-day average +0.117% · you sell dearer than you buy

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

Long on Orderly Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.288%+$29 on $10k

Price spread, last 4 days (all we have)+0.056%+$6 · spread now +0.071%, 7d avg +0.117%

Together, before fees+0.344%+$34 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.046% cheaper against Orderly than usual: you would sell low and buy high (spread +0.071% now, against its 7-day average of +0.117%). If the spread goes back, that is −$5 on $10k: about 9 hours of funding at the current rate (+$12 a day). At the pace of the last 7 days (+0.288% in total) that is about 27 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_ZEC_USDC	1,463.7	0.0063	pay 0.0063% / 8h	3h 11m	$293K	$910K	20x
Short	Coinbase International ZEC-PERP-INTX	1,464.8	0.0464	get 0.0058% / 1h	11m 38s	$3.8M	$9.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Orderly. 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 OrderlybpFee Coinbase InternationalbpOrdersPrice spread, now +0.071%Rate

Funding earned: $84.29
Price spread: +0.071% → +0.117%: −$4.61
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $63.67
Costs to cover: 0.160%
Break-even: 1.7 days

Slippage unknown: Orderly: no order-book sample; Coinbase International: live order book, 2 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 Orderly no order-book sample	—	—	—	—	—
Sell Coinbase International live order book, 2 min ago	1.23 bp	12.0 bp −$12	17.0 bp −$170	45.8 bp −$4,576	doesn't fit

Orderly: 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	−0.3042%	1h	1,461.1	−0.182%	$34K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,463.4	−0.025%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0071%	8h	1,461.9	−0.128%	$29.6M	$70.7M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,466	+0.153%	$407K	$38K	5x	as long as short
Perpl ZEC	0.0000%	43m	1,463.1	−0.040%	$84K	$239K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,463.9	+0.009%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDClong	+0.0063%	8h	1,463.7	long leg	$293K	$910K	20x
Ondo Perps ZEC-USD.P	+0.0076%	1h	1,460.4	−0.227%	$397K	$435K	5x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0088% / S −0.0039%	1h	1,463.6	−0.007%	$436K	—	100x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,462.9	−0.055%	$175K	$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	1,464.1	+0.026%	$14K	$804K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,466.5	+0.191%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,462.3	−0.098%	$2.9M	$6.5M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,465.9	+0.151%	$14.6M	$27.8M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,466.5	+0.189%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,465.9	+0.151%	$674.9M	$2.17B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,465.8	+0.143%	$262.5M	$589.7M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,466.3	+0.174%	$179.8M	$1.21B	50x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,460.6	−0.212%	$882K	$17K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,464.4	+0.046%	$52.2M	$172.9M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,466.6	+0.195%	$220.4M	$774.1M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,466.6	+0.195%	$103.3M	$53.1M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,466.5	+0.193%	$166.5M	$267.9M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,466.3	+0.175%	—	$106.6M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,458.8	−0.338%	$47.8M	$32.5M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,460.1	−0.248%	$568K	$8.5M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,461.4	−0.159%	$3.0M	$464K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,458.6	−0.347%	$403K	$944K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,462.1	−0.112%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,462.7	−0.070%	$357K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,463.3	−0.029%	$161K	$186K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,462.7	−0.067%	$447K	$504K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,464.3	+0.041%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,463.7	−0.001%	$234K	$3.2M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,463.1	−0.044%	$2.7M	$18.3M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,463.2	−0.039%	$3.9M	$4.9M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,464	+0.020%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,463.5	−0.013%	$47K	$151K	20x	as long as short
Phoenix ZEC	+0.0116%	1h	1,462.7	−0.070%	$4.7M	$1.3M	10x	as long as short
01 Exchange ZECUSD	+0.0120%	1h	1,463.6	−0.010%	$8K	$7K	5x	as long as short
Lighter RH ZEC	+0.0128%	1h	1,465.8	+0.142%	$2.1M	$7.0M	10x	as long as short
Hyperliquid ZEC	+0.0148%	1h	1,465.7	+0.133%	$763.7M	$424.9M	10x	as long as short
Lighter ZEC	+0.0168%	1h	1,465.8	+0.142%	$19.4M	$45.4M	20x	as long as short
Kalshi KXZECPERP	+0.0187%	8h	1,463.6	−0.010%	$1.5M	$4.4M	2.2x	as long as short
RISEx ZEC/USDC	+0.0216%	1h	1,463.3	−0.030%	$925K	$1.1M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0219%	1h	1,464.7	+0.069%	$616K	$1.3M	25x	as long as short
Backpack ZEC_USDC_PERP	+0.0292%	1h	1,464.3	+0.036%	$2.4M	$3.8M	15x	as long as short
Kraken Futures PF_ZECUSD	+0.0331%	1h	1,463.4	−0.022%	$18.1M	$45.2M	25x	as long as short
Arcus ZEC-USD	+0.0344%	1h	1,467	+0.226%	$681K	$8.1M	10x	as long as short
Coinbase International ZEC-PERP-INTXshort	+0.0464%	1h	1,464.8	+0.071%	$3.8M	$9.1M	50x
Aftermath Perps ZECUSD	+0.0687%	1h	1,461.3	−0.165%	$45K	$49K	10x	as long as short