Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0280%/8h= +30.6% APRpaid last 24h +0.052%

Price spread now: GMX against BloFin+0.009%7-day average +0.025% · you sell dearer than you buy

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

Long on BloFin Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.067%+$7 on $10k

Price spread, last 4 days (all we have)−0.032%−$3 · spread now +0.009%, 7d avg +0.025%

Together, before fees+0.036%+$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.025%, so right now this pair is about funding alone: +$8 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.067% in total (about 7.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ZEC-USDT	1,476.8	−0.0126	get 0.0126% / 8h	1h 26m	$30.4M	$73.8M	75x
Short	GMX ZEC/USD [WBTC.b-USDC]	1,476.9	L +0.0145% / S −0.0154%	get 0.0019% / 1h	26m 49s	$478K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against BloFin. 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 BloFinbpFee GMXbpOrdersPrice spread, now +0.009%Rate

Funding earned: $58.73
Price spread: +0.009% → +0.025%: −$1.61
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $33.11
Costs to cover: 0.240%
Break-even: 3.1 days

Slippage unknown: BloFin: live order book, 2 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 BloFin live order book, 2 min ago	0.03 bp	6.3 bp −$6	7.9 bp −$79	doesn't fit	doesn't fit
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	−0.3684%	1h	1,462	−0.999%	$36K	$275K	12x	as long as short
Bulk ZEC-USD	−0.0166%	1h	1,477.1	+0.022%	$892K	$9K	10x	as long as short
BloFin ZEC-USDTlong	−0.0126%	8h	1,476.8	long leg	$30.4M	$73.8M	75x
Kraken Futures PF_ZECUSD	−0.0097%	1h	1,477	+0.012%	$17.9M	$46.8M	25x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,476.8	−0.001%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,476.5	−0.022%	$410K	$35K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,477.5	+0.045%	$1.5M	$4.6M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,476	−0.053%	$63K	$303K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,475.6	−0.081%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0077%	8h	1,476.6	−0.015%	$297K	$1.1M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps ZECUSD	+0.0088%	1h	1,477.1	+0.023%	$47K	$64K	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,477.2	+0.028%	$165K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0098%	8h	1,476.7	−0.008%	$10K	$871K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,477.3	+0.036%	$2.7M	$7.0M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,476.4	−0.024%	$13.8M	$30.9M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,476.8	+0.004%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,476.7	−0.003%	$687.8M	$2.30B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,476.3	−0.035%	$263.7M	$632.5M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,476.7	−0.005%	$178.9M	$1.31B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,475.2	−0.107%	$403K	$508K	5x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,476.9	+0.009%	$54.3M	$183.0M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,476.8	+0.003%	$240.9M	$784.9M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,477	+0.016%	$101.0M	$57.6M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,477	+0.014%	$158.9M	$288.6M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,477	+0.017%	—	$6.7M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,477.4	+0.041%	$2.3M	$3.9M	15x	as long as short
Variational Omni ZEC	+0.0100%	8h	1,477.6	+0.057%	$48.1M	$34.4M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,477.5	+0.050%	$565K	$8.9M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,478.3	+0.106%	$3.0M	$498K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,476.6	−0.012%	$406K	$936K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,475.9	−0.060%	$56K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,476.6	−0.012%	$355K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,477.1	+0.021%	$162K	$184K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,473.4	−0.229%	$450K	$500K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,478.8	+0.135%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,476.7	−0.004%	$251K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,476.7	−0.003%	$2.6M	$19.7M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,477.3	+0.035%	$3.9M	$5.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,476.7	−0.004%	$61K	$43K	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,477.2	+0.026%	$2.7M	$8.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,476.7	−0.008%	$42K	$152K	20x	as long as short
RISEx ZEC/USDC	+0.0129%	1h	1,477.2	+0.029%	$924K	$1.1M	10x	as long as short
Phoenix ZEC	+0.0134%	1h	1,478.9	+0.142%	$4.7M	$1.4M	10x	as long as short
01 Exchange ZECUSD	+0.0136%	1h	1,477.3	+0.035%	$8K	$7K	5x	as long as short
GMX ZEC/USD [WBTC.b-USDC]short	L +0.0145% / S −0.0154%	1h	1,476.9	+0.009%	$478K	—	100x
Deribit ZEC_USDC-PERPETUAL	+0.0214%	1h	1,477.6	+0.055%	$675K	$1.4M	25x	as long as short
Arcus ZEC-USD	+0.0221%	1h	1,478.7	+0.128%	$637K	$8.6M	10x	as long as short
Lighter RH ZEC	+0.0248%	1h	1,478.5	+0.113%	$2.1M	$7.4M	10x	as long as short
Hyperliquid ZEC	+0.0251%	1h	1,478.1	+0.089%	$766.9M	$442.4M	10x	as long as short
Lighter ZEC	+0.0320%	1h	1,479.5	+0.181%	$19.4M	$45.8M	20x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0480%	1h	1,477.9	+0.079%	$3.6M	$9.9M	50x	as long as short