Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0177%/8h= −19.3% APRpaid last 24h −0.060%

Price spread now: BloFin against Popdex−0.063%100s7-day average +0.014% · 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−$270.274% of the position

Long on Popdex Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.203%−$20 on $10k

Price spread, last 4 days (all we have)+1.120%+$112 · spread now −0.063%, 7d avg +0.014%

Together, before fees+0.918%+$92 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and BloFin is 0.077% cheaper against Popdex than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.014%). Swap the legs. The two prices were read 100 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	1,451.4	0.0096	pay 0.0012% / 1h	35m 22s	$173K	$1.8M	50x
Short	BloFin ZEC-USDT	1,450.5	−0.0081	pay 0.0081% / 8h	5h 35m	$29.4M	$70.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.063%Rate

Funding earned: −$37.09
Price spread: −0.063% → +0.014%: −$7.69
Slippage, 4 orders: −$8.99
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$72.17
Costs to cover: 0.274%
Break-even: never at this rate

Slippage from Popdex: live order book, 4 min ago; BloFin: live order book, 9 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, 4 min ago	2.17 bp	5.7 bp −$6	15.0 bp −$150	doesn't fit	doesn't fit
Sell BloFin live order book, 9 min ago	0.10 bp	6.1 bp −$6	6.8 bp −$68	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 PERP	−0.3244%	1h	1,451.4	−0.003%	$33K	$272K	12x	as long as short
BloFin ZEC-USDTshort	−0.0081%	8h	1,450.5	−0.063%	$29.4M	$70.6M	75x
Hotstuff ZEC-PERP	−0.0080%	1h	1,451.1	−0.020%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,450.2	−0.081%	$408K	$44K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,448.3	−0.213%	$1.3M	$4.9M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,451.9	+0.033%	$83K	$248K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,452.5	+0.078%	$5.1M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0041%	8h	1,453.3	+0.127%	$290K	$979K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0053% / S −0.0009%	1h	1,452.4	+0.072%	$375K	—	100x	as long as short
Phoenix ZEC	+0.0074%	1h	1,449.2	−0.152%	$4.6M	$1.4M	10x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni ZECUSDT	+0.0087%	1h	1,450	−0.094%	$407K	$904K	50x	as long as short
Popdex ZECUSDTlong	+0.0096%	1h	1,451.4	long leg	$173K	$1.8M	50x
Ondo Perps ZEC-USD.P	+0.0098%	1h	1,445.9	−0.379%	$394K	$431K	5x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,449.8	−0.109%	$14K	$859K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,451.3	−0.008%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,452.9	+0.103%	$2.5M	$6.5M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,453.4	+0.138%	$756.4M	$433.7M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,451.2	−0.013%	$14.4M	$28.8M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,450.7	−0.047%	$1.7M	$2.6M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,452.8	+0.099%	$665.3M	$2.26B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,453.1	+0.114%	$266.4M	$610.5M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,453.6	+0.151%	$179.2M	$1.24B	50x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,451.2	−0.012%	$879K	$21K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,452.6	+0.083%	$49.4M	$172.6M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,452.5	+0.076%	$213.4M	$774.3M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,450.9	−0.034%	$102.0M	$56.0M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,453.3	+0.132%	$161.4M	$277.7M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,452.2	+0.054%	—	$6.7M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,451.1	−0.022%	$2.4M	$3.8M	15x	as long as short
Variational Omni ZEC	+0.0100%	8h	1,448.7	−0.185%	$46.8M	$32.3M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,449.1	−0.161%	$564K	$8.9M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,449.1	−0.162%	$3.0M	$419K	10x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,448.7	−0.187%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,451.8	+0.028%	$323K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,452.6	+0.085%	$160K	$160K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,451.7	+0.023%	$443K	$521K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,455.2	+0.263%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,449.7	−0.121%	$232K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,447.9	−0.240%	$2.6M	$18.4M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,449.9	−0.106%	$3.8M	$5.1M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,451	−0.031%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,453	+0.107%	$47K	$156K	20x	as long as short
01 Exchange ZECUSD	+0.0120%	1h	1,451.9	+0.036%	$8K	$7K	5x	as long as short
Lighter ZEC	+0.0176%	1h	1,451.9	+0.036%	$19.0M	$46.4M	20x	as long as short
Kraken Futures PF_ZECUSD	+0.0197%	1h	1,449.6	−0.127%	$17.8M	$44.5M	25x	as long as short
Arcus ZEC-USD	+0.0277%	1h	1,453.2	+0.122%	$724K	$8.5M	10x	as long as short
Lighter RH ZEC	+0.0336%	1h	1,452	+0.041%	$2.0M	$6.9M	10x	as long as short
RISEx ZEC/USDC	+0.0409%	1h	1,451.8	+0.025%	$828K	$1.0M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0456%	1h	1,451	−0.025%	$3.7M	$9.1M	50x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0461%	1h	1,454	+0.181%	$611K	$1.3M	25x	as long as short
Aftermath Perps ZECUSD	+0.0711%	1h	1,453.4	+0.139%	$43K	$46K	10x	as long as short