Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.019%

Price spread now: dYdX against BingX−0.006%7-day average +0.058% · you buy dearer than you sell

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$97as in the Price arb table

costs, in and out, $10k−$900.903% of the position

Long on BingX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.244%+$24 on $10k

Price spread, last 4 days (all we have)+0.082%+$8 · spread now −0.006%, 7d avg +0.058%

Together, before fees+0.326%+$33 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.064% cheaper against BingX than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.058%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.244%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ZEC-USDC	1,459.8	0.0100	pay 0.0100% / 8h	4h 17m	—	$6.7M	—
Short	dYdX ZEC-USD	1,459.7	0	get 0.0000% / 1h	17m 29s	$411K	$38K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against BingX. 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 BingXbpFee dYdXbpOrdersPrice spread, now −0.006%Rate

Funding earned: −$21
Price spread: −0.006% → +0.058%: −$6.43
Slippage, 4 orders: −$70.32
Fee BingX: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$117.75
Costs to cover: 0.903%
Break-even: never at this rate

Slippage from BingX: live order book, 5 min ago; dYdX: live order book, 42 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 BingX live order book, 5 min ago	0.62 bp	11.0 bp −$11	17.7 bp −$177	38.8 bp −$3,881	86.1 bp −$43.0K
Sell dYdX live order book, 42 min ago	29.20 bp	37.5 bp −$37	90.2 bp −$902	233.0 bp −$23.3K	1396.0 bp −$698.0K

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	−0.3166%	1h	1,462.9	+0.207%	$34K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,459.6	−0.014%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0069%	8h	1,461.4	+0.110%	$29.4M	$71.1M	75x	as long as short
dYdX ZEC-USDshort	0.0000%	1h	1,459.7	−0.006%	$411K	$38K	5x
Kalshi KXZECPERP	0.0000%	8h	1,461	+0.077%	$1.5M	$4.5M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,458.7	−0.081%	$83K	$240K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,459.4	−0.031%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0063%	8h	1,459.4	−0.031%	$292K	$952K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0069% / S −0.0020%	1h	1,459.3	−0.036%	$410K	—	100x	as long as short
01 Exchange ZECUSD	+0.0080%	1h	1,460.2	+0.025%	$8K	$7K	5x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit ZEC_USDC-PERPETUAL	+0.0088%	1h	1,460	+0.013%	$616K	$1.3M	25x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,459.8	0.000%	$173K	$1.7M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,460.2	+0.024%	$11K	$857K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,460	+0.013%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,460.4	+0.037%	$2.8M	$6.7M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,461.1	+0.087%	$759.6M	$431.8M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,459.8	−0.005%	$14.5M	$28.0M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,460.3	+0.031%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,459.9	+0.003%	$671.0M	$2.21B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,459.3	−0.036%	$262.1M	$602.4M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,459.7	−0.007%	$178.2M	$1.23B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,458.4	−0.098%	$397K	$442K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,457.2	−0.179%	$880K	$18K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,459.6	−0.018%	$50.6M	$174.8M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,459.9	+0.004%	$214.9M	$773.9M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,460	+0.009%	$103.0M	$54.0M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,460.1	+0.016%	$166.1M	$271.1M	75x	as long as short
BingX ZEC-USDClong	+0.0100%	8h	1,459.8	long leg	—	$6.7M	—
Variational Omni ZEC	+0.0100%	8h	1,460.3	+0.032%	$47.9M	$32.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,461.7	+0.130%	$569K	$8.6M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,460.6	+0.050%	$3.0M	$437K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,461.9	+0.145%	$405K	$939K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,459	−0.060%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,459.8	−0.002%	$365K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,459.2	−0.041%	$160K	$185K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,458.5	−0.092%	$445K	$521K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,461.7	+0.125%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,459.4	−0.033%	$234K	$3.4M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,457.9	−0.134%	$2.7M	$18.4M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,459.5	−0.023%	$3.8M	$5.1M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,460	+0.009%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,459.4	−0.033%	$47K	$151K	20x	as long as short
Backpack ZEC_USDC_PERP	+0.0113%	1h	1,460.1	+0.020%	$2.4M	$3.8M	15x	as long as short
Phoenix ZEC	+0.0123%	1h	1,460.1	+0.018%	$4.6M	$1.3M	10x	as long as short
Lighter ZEC	+0.0264%	1h	1,461.2	+0.094%	$19.2M	$46.0M	20x	as long as short
Kraken Futures PF_ZECUSD	+0.0276%	1h	1,459.3	−0.034%	$18.1M	$45.0M	25x	as long as short
Lighter RH ZEC	+0.0384%	1h	1,461.1	+0.089%	$2.1M	$7.0M	10x	as long as short
RISEx ZEC/USDC	+0.0412%	1h	1,460	+0.013%	$924K	$1.1M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0448%	1h	1,461.5	+0.112%	$3.8M	$9.1M	50x	as long as short
Arcus ZEC-USD	+0.0626%	1h	1,460.9	+0.076%	$683K	$8.3M	10x	as long as short
Aftermath Perps ZECUSD	+0.0684%	1h	1,460.3	+0.031%	$45K	$49K	10x	as long as short