Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.008%

Price spread now: Popdex against BingX−0.001%7-day average +0.088% · 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−$34as in the Price arb table

costs, in and out, $10k−$250.248% of the position

Long on BingX Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.023%+$2 on $10k

Price spread, last 7 days+0.083%+$8 · spread now −0.001%, 7d avg +0.088%

Together, before fees+0.106%+$11 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Popdex is 0.088% cheaper against BingX than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.088%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ZEC-USDC	1,456.3	0.0100	pay 0.0100% / 8h	3h 24m	—	$6.7M	—
Short	Popdex ZECUSDT	1,456.2	0.0096	get 0.0012% / 1h	24m 11s	$174K	$1.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now −0.001%Rate

Funding earned: −$0.84
Price spread: −0.001% → +0.088%: −$8.84
Slippage, 4 orders: −$8.38
Fee BingX: 5 bp × 2 orders: −$10
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$34.46
Costs to cover: 0.248%
Break-even: never at this rate

Slippage from BingX: live order book, 13 min ago; Popdex: live order book, 5 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, 13 min ago	0.10 bp	9.9 bp −$10	14.0 bp −$140	30.4 bp −$3,037	78.0 bp −$39.0K
Sell Popdex live order book, 5 min ago	0.03 bp	4.0 bp −$4	7.1 bp −$71	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	−0.3042%	1h	1,458	+0.119%	$34K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,456.4	+0.011%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0071%	8h	1,456.5	+0.016%	$29.4M	$70.6M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,456.3	+0.005%	$410K	$36K	5x	as long as short
Perpl ZEC	0.0000%	43m	1,455.6	−0.043%	$83K	$239K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,456.6	+0.025%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0063%	8h	1,456.1	−0.009%	$291K	$943K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0084% / S −0.0035%	1h	1,456.6	+0.025%	$434K	—	100x	as long as short
Popdex ZECUSDTshort	+0.0096%	1h	1,456.2	−0.001%	$174K	$1.7M	50x
Katana Perps ZEC-USD	+0.0100%	8h	1,456.4	+0.010%	$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	1,456.8	+0.039%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,456.9	+0.046%	$2.8M	$6.6M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,456.6	+0.027%	$14.5M	$27.9M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,457.1	+0.056%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,457.2	+0.062%	$670.6M	$2.19B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,456.4	+0.012%	$261.0M	$599.2M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,456.9	+0.047%	$178.8M	$1.21B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,455.7	−0.038%	$395K	$434K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,453.9	−0.164%	$878K	$18K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,457.3	+0.073%	$51.4M	$171.7M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,457.1	+0.060%	$219.1M	$770.3M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,456.3	+0.001%	$102.8M	$53.4M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,457.9	+0.115%	$165.8M	$269.6M	75x	as long as short
BingX ZEC-USDClong	+0.0100%	8h	1,456.3	long leg	—	$6.7M	—
Variational Omni ZEC	+0.0100%	8h	1,455.5	−0.055%	$47.7M	$32.8M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,456.2	−0.005%	$567K	$8.5M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,456.5	+0.018%	$3.0M	$463K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,456.4	+0.012%	$402K	$943K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,456.6	+0.021%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,456.4	+0.010%	$354K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,456.5	+0.019%	$160K	$185K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,455.1	−0.081%	$444K	$509K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,459.1	+0.197%	$4K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,456.4	+0.009%	$233K	$3.2M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,455.7	−0.040%	$2.7M	$18.4M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,456.8	+0.034%	$3.8M	$4.9M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,456	−0.017%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,456.1	−0.012%	$47K	$151K	20x	as long as short
Lighter RH ZEC	+0.0112%	1h	1,457.7	+0.101%	$2.1M	$7.0M	10x	as long as short
Phoenix ZEC	+0.0116%	1h	1,457.6	+0.089%	$4.6M	$1.3M	10x	as long as short
01 Exchange ZECUSD	+0.0128%	1h	1,456.8	+0.038%	$8K	$7K	5x	as long as short
Lighter ZEC	+0.0144%	1h	1,458.3	+0.141%	$19.2M	$45.1M	20x	as long as short
Hyperliquid ZEC	+0.0145%	1h	1,458.9	+0.182%	$759.6M	$424.2M	10x	as long as short
Kalshi KXZECPERP	+0.0162%	8h	1,458	+0.120%	$1.5M	$4.4M	2.2x	as long as short
Backpack ZEC_USDC_PERP	+0.0188%	1h	1,457.8	+0.108%	$2.4M	$3.8M	15x	as long as short
RISEx ZEC/USDC	+0.0216%	1h	1,456.5	+0.014%	$921K	$1.1M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0308%	1h	1,456.9	+0.047%	$613K	$1.3M	25x	as long as short
Kraken Futures PF_ZECUSD	+0.0333%	1h	1,456.5	+0.019%	$18.0M	$45.2M	25x	as long as short
Arcus ZEC-USD	+0.0344%	1h	1,458.3	+0.139%	$697K	$8.2M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0464%	1h	1,458.6	+0.163%	$3.8M	$9.2M	50x	as long as short
Aftermath Perps ZECUSD	+0.0677%	1h	1,456.7	+0.033%	$45K	$49K	10x	as long as short