Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0066%/8h= −7.2% APRpaid last 24h +0.002%

Price spread now: GMX against BingX+0.007%7-day average +0.093% · you sell dearer than you buy

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

Long on BingX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.103%−$10 on $10k

Price spread, last 4 days (all we have)+0.510%+$51 · spread now +0.007%, 7d avg +0.093%

Together, before fees+0.407%+$41 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and GMX is 0.085% cheaper against BingX than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.093%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ZEC-USDC	1,456	0.0100	pay 0.0100% / 8h	3h 25m	—	$6.7M	—
Short	GMX ZEC/USD [WBTC.b-USDC]	1,456.1	L +0.0084% / S −0.0034%	get 0.0004% / 1h	25m 55s	$434K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.007%Rate

Funding earned: −$13.81
Price spread: +0.007% → +0.093%: −$8.53
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$44.34
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 12 min ago; GMX: no order-book sample. 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 BingX live order book, 12 min ago	0.10 bp	9.9 bp −$10	14.0 bp −$140	30.4 bp −$3,037	78.0 bp −$39.0K
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	1,457.6	+0.110%	$34K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,456.9	+0.056%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0070%	8h	1,456.5	+0.032%	$29.4M	$70.7M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,456.3	+0.020%	$410K	$36K	5x	as long as short
Perpl ZEC	0.0000%	43m	1,456.6	+0.039%	$83K	$239K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,456.3	+0.015%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0063%	8h	1,456.4	+0.026%	$291K	$944K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]short	L +0.0084% / S −0.0034%	1h	1,456.1	+0.007%	$434K	—	100x
Popdex ZECUSDT	+0.0096%	1h	1,456.8	+0.056%	$174K	$1.7M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,456.6	+0.040%	$14K	$820K	10x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex ZEC-USD-PERP	+0.0100%	8h	1,456.6	+0.038%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,456.6	+0.040%	$2.8M	$6.6M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,456.6	+0.042%	$14.5M	$28.0M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,456.9	+0.061%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,456.8	+0.055%	$670.5M	$2.19B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,456.3	+0.020%	$261.0M	$599.2M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,456.9	+0.058%	$178.8M	$1.22B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,455.7	−0.023%	$395K	$434K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,453.9	−0.149%	$878K	$18K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,456.5	+0.030%	$51.4M	$171.6M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,456.7	+0.045%	$218.6M	$770.1M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,456.6	+0.039%	$102.8M	$53.4M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,457	+0.066%	$165.7M	$269.9M	75x	as long as short
BingX ZEC-USDClong	+0.0100%	8h	1,456	long leg	—	$6.7M	—
Variational Omni ZEC	+0.0100%	8h	1,455.5	−0.039%	$47.7M	$32.8M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,456.1	+0.005%	$567K	$8.5M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,456.5	+0.033%	$3.0M	$463K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,457.4	+0.093%	$403K	$944K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,456.2	+0.012%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,456.4	+0.025%	$354K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,456.3	+0.017%	$160K	$185K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,455.3	−0.048%	$444K	$509K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,458.9	+0.197%	$4K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,456.5	+0.032%	$233K	$3.2M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,456	−0.005%	$2.7M	$18.4M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,456.8	+0.052%	$3.8M	$4.9M	50x	as long as short
Lighter RH ZEC	+0.0104%	1h	1,458.1	+0.141%	$2.1M	$7.0M	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,456.5	+0.029%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,456.3	+0.016%	$47K	$151K	20x	as long as short
Phoenix ZEC	+0.0116%	1h	1,456.9	+0.058%	$4.6M	$1.3M	10x	as long as short
01 Exchange ZECUSD	+0.0120%	1h	1,457.1	+0.071%	$8K	$7K	5x	as long as short
Lighter ZEC	+0.0144%	1h	1,458	+0.137%	$19.2M	$45.0M	20x	as long as short
Hyperliquid ZEC	+0.0148%	1h	1,457.8	+0.122%	$759.0M	$426.2M	10x	as long as short
Kalshi KXZECPERP	+0.0160%	8h	1,457	+0.066%	$1.5M	$4.4M	2.2x	as long as short
Backpack ZEC_USDC_PERP	+0.0174%	1h	1,457.1	+0.076%	$2.4M	$3.8M	15x	as long as short
RISEx ZEC/USDC	+0.0216%	1h	1,456.6	+0.039%	$921K	$1.1M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0255%	1h	1,457.1	+0.073%	$613K	$1.3M	25x	as long as short
Kraken Futures PF_ZECUSD	+0.0333%	1h	1,456.3	+0.020%	$18.0M	$45.3M	25x	as long as short
Arcus ZEC-USD	+0.0344%	1h	1,458.3	+0.156%	$697K	$8.2M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0464%	1h	1,458.9	+0.197%	$3.8M	$9.2M	50x	as long as short
Aftermath Perps ZECUSD	+0.0672%	1h	1,456.4	+0.022%	$45K	$49K	10x	as long as short