Funding arb · Price arb /

ZEC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.008%

Price spread now: BingX against Popdex−0.041%56s7-day average — · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$290.288% of the position

Long on Popdex Short on BingX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BingX is 0.041% cheaper against Popdex than usual: you would sell low and buy high, −$4 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 56 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex ZECUSDT	1,479.1	0.0096	pay 0.0012% / 1h	23m 44s	$174K	$1.6M	50x
Short	BingX ZEC-USDC	1,478.5	0.0100	get 0.0100% / 8h	2h 23m	—	$6.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Popdex. 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 PopdexbpFee BingXbpOrdersPrice spread, now −0.041%Rate

Funding earned: $0.84
Price spread: −0.041% → 0.000%: −$4.06
Slippage, 4 orders: −$12.42
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee BingX: 5 bp × 2 orders: −$10
Net: −$32.04
Costs to cover: 0.288%
Break-even: 274.0 days

Slippage from Popdex: live order book, just now; BingX: live order book, 14 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 Popdex live order book, just now	0.95 bp	5.4 bp −$5	13.9 bp −$139	doesn't fit	doesn't fit
Sell BingX live order book, 14 min ago	0.10 bp	8.2 bp −$8	14.0 bp −$140	29.1 bp −$2,907	72.6 bp −$36.3K

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	−0.3243%	1h	1,457.4	−1.468%	$34K	$272K	12x	as long as short
BloFin ZEC-USDT	−0.0099%	8h	1,477.9	−0.081%	$29.8M	$71.7M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,479.5	+0.023%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,480	+0.060%	$411K	$37K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,478.4	−0.053%	$1.6M	$4.5M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,479.1	−0.005%	$85K	$239K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0007%	1h	1,478.9	−0.019%	$5.3M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0062%	8h	1,478.7	−0.030%	$296K	$896K	20x	as long as short
01 Exchange ZECUSD	+0.0064%	1h	1,480.1	+0.062%	$8K	$7K	5x	as long as short
Bybit ZECUSDT	+0.0092%	8h	1,479.5	+0.021%	$263.3M	$597.6M	75x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix ZEC	+0.0092%	1h	1,475.1	−0.273%	$4.7M	$1.3M	10x	as long as short
Popdex ZECUSDTlong	+0.0096%	1h	1,479.1	long leg	$174K	$1.6M	50x
GMX ZEC/USD [WBTC.b-USDC]	L +0.0099% / S −0.0054%	1h	1,478.6	−0.034%	$440K	—	100x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,479.3	+0.011%	$11K	$824K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,479.3	+0.013%	$61K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,479.6	+0.032%	$2.9M	$6.3M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,480.2	+0.072%	$772.1M	$421.2M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,479.7	+0.037%	$14.5M	$28.2M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,479.9	+0.053%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,479.6	+0.034%	$686.8M	$2.17B	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,479.1	−0.003%	$179.4M	$1.23B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,474.6	−0.307%	$400K	$433K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,472.4	−0.455%	$889K	$15K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,479.4	+0.014%	$53.7M	$172.7M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,479.5	+0.027%	$228.8M	$765.7M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,480.1	+0.065%	$105.5M	$52.8M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,479.6	+0.033%	$166.9M	$269.0M	75x	as long as short
BingX ZEC-USDCshort	+0.0100%	8h	1,478.5	−0.041%	—	$6.7M	—
Variational Omni ZEC	+0.0100%	8h	1,473.7	−0.369%	$48.3M	$32.4M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,475	−0.281%	$556K	$8.5M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,474.1	−0.339%	$3.0M	$455K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,472.9	−0.420%	$407K	$926K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,476.3	−0.191%	$50K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,478.8	−0.023%	$364K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,478.3	−0.058%	$163K	$183K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,477.8	−0.090%	$451K	$506K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,480.6	+0.099%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,478.4	−0.053%	$244K	$3.2M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,477.2	−0.133%	$2.7M	$18.4M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,478.6	−0.038%	$3.9M	$4.8M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,479.5	+0.021%	$2.8M	$7.8M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,478.8	−0.023%	$46K	$152K	20x	as long as short
Lighter RH ZEC	+0.0120%	1h	1,481.1	+0.130%	$2.1M	$7.1M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0125%	1h	1,479.4	+0.020%	$623K	$1.3M	25x	as long as short
Kraken Futures PF_ZECUSD	+0.0145%	1h	1,478.2	−0.062%	$18.1M	$45.6M	25x	as long as short
RISEx ZEC/USDC	+0.0154%	1h	1,479.9	+0.055%	$934K	$1.1M	10x	as long as short
Lighter ZEC	+0.0192%	1h	1,480.8	+0.115%	$19.6M	$44.1M	20x	as long as short
Backpack ZEC_USDC_PERP	+0.0403%	1h	1,480.6	+0.095%	$2.4M	$3.7M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0496%	1h	1,480.3	+0.079%	$3.7M	$9.3M	50x	as long as short
Arcus ZEC-USD	+0.0508%	1h	1,480.9	+0.117%	$655K	$8.2M	10x	as long as short
Aftermath Perps ZECUSD	+0.0713%	1h	1,475	−0.278%	$45K	$49K	10x	as long as short