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Funding arb · Price arb /

ZEC

all ZEC markets
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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 03:00 UTC−0.0089%/8h= −9.8% APRnext payment −$0.11 per $10,000 · paid last 24h −0.003%
Price spread now: GMX against Bullet−0.020%7-day average +0.039% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on BulletShort on GMX
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.112%−$11 on $10k
Price spread, last 4 days (all we have)+0.918%+$92 · spread now −0.020%, 7d avg +0.039%
Together, before fees+0.806%+$81 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 GMX is 0.060% cheaper against Bullet than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.039%). Swap the legs.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBullet ZEC-USD1,456.50.0100pay 0.0013% / 1h28m 33s$160K$185K20x
ShortGMX ZEC/USD [WBTC.b-USDC]1,456.2L +0.0061% / S −0.0011%get 0.0001% / 1h28m 33s$409K—100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

GMX against Bullet. 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

Funding earned
−$18.72
Price spread: −0.020% → +0.039%
−$5.97
Slippage, 4 orders
no order book: not counted
Fee Bullet: 4 bp × 2 orders
−$8
Fee GMX: 6 bp × 2 orders
−$12
Net
−$44.69
Costs to cover
0.200%
Break-even
never at this rate
Slippage unknown: Bullet: live order book, 35 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
LegHalf-spread$10k$100k$1M$5M
Buy Bullet live order book, 35 min ago1.80 bp6.8 bp −$711.1 bp −$111doesn't fitdoesn'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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective ZEC/USDC PERP−0.3244%1h1,455.5−0.067%$34K$272K12xas long as short
BloFin ZEC-USDT−0.0082%8h1,456.6+0.012%$29.1M$71.0M75xas long as short
Hotstuff ZEC-PERP−0.0080%1h1,456.7+0.014%$6K$1K10xas long as short
dYdX ZEC-USD0.0000%1h1,455.8−0.046%$410K$44K5xas long as short
Kalshi KXZECPERP0.0000%8h1,458+0.104%$1.5M$5.1M2.2xas long as short
Perpl ZEC0.0000%43m1,456.1−0.023%$83K$243K10xas long as short
gTrade (Gains Network) ZEC/USDL +0.0007% / S −0.0006%1h1,456.6+0.010%$5.2M—150xas long as short
Orderly PERP_ZEC_USDC+0.0044%8h1,456.5+0.001%$291K$979K20xas long as short
GMX ZEC/USD [WBTC.b-USDC]shortL +0.0061% / S −0.0011%1h1,456.2−0.020%$409K—100x
Phoenix ZEC+0.0074%1h1,459.6+0.212%$4.6M$1.4M10xas long as short
Show all 51 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
ApeX Omni ZECUSDT+0.0094%1h1,456.7+0.015%$410K$911K50xas long as short
Popdex ZECUSDT+0.0096%1h1,456.5+0.003%$173K$1.8M50xas long as short
Katana Perps ZEC-USD+0.0100%8h1,457.5+0.069%$23K$869K10xas long as short
Paradex ZEC-USD-PERP+0.0100%8h1,456.6+0.007%$60K$43K10xas long as short
Nado ZEC-PERP+0.0100%1h1,456.6+0.007%$2.6M$6.5M10xas long as short
Hyperliquid ZEC+0.0100%1h1,457.8+0.091%$762.9M$438.8M10xas long as short
Aster ZECUSDT+0.0100%8h1,456.3−0.012%$14.5M$28.3M75xas long as short
Pacifica ZEC+0.0100%1h1,456.6+0.006%$1.7M$2.6M10xas long as short
Binance ZECUSDT+0.0100%8h1,456.8+0.023%$667.3M$2.27B75xas long as short
Bybit ZECUSDT+0.0100%8h1,456.2−0.020%$266.1M$611.7M75xas long as short
OKX ZEC-USDT-SWAP+0.0100%8h1,456.6+0.005%$178.7M$1.24B50xas long as short
Ondo Perps ZEC-USD.P+0.0100%1h1,457.5+0.071%$396K$436K5xas long as short
Bulk ZEC-USD+0.0100%1h1,451.2−0.360%$879K$21K10xas long as short
Gate ZEC_USDT+0.0100%8h1,456.2−0.021%$49.5M$173.7M75xas long as short
MEXC ZEC_USDT+0.0100%8h1,456.3−0.010%$212.7M$776.3M150xas long as short
KuCoin ZECUSDTM+0.0100%8h1,456.4−0.002%$102.0M$56.2M75xas long as short
Bitget ZECUSDT+0.0100%8h1,456.9+0.030%$161.9M$278.2M75xas long as short
BingX ZEC-USDT+0.0100%8h1,456.1−0.023%—$97.5M—as long as short
Backpack ZEC_USDC_PERP+0.0100%1h1,456.2−0.017%$2.4M$3.8M15xas long as short
Variational Omni ZEC+0.0100%8h1,454.2−0.154%$47.0M$32.4M—as long as short
edgeX ZECUSDC+0.0100%4h1,453.2−0.227%$565K$8.9M20xas long as short
GRVT ZEC_USDT_Perp+0.0100%8h1,458.3+0.122%$3.0M$419K10xas long as short
StandX ZEC-USD+0.0100%1h1,457.2+0.049%$49K$4.7M30xas long as short
Polymarket Perps ZEC-USD+0.0100%1h1,456.6+0.009%$331K$1.8M10xas long as short
Bullet ZEC-USDlong+0.0100%1h1,456.5long leg$160K$185K20x
Derive ZEC-PERP+0.0100%1h1,455.1−0.094%$444K$521K6.7xas long as short
SunX ZEC-USDT+0.0100%8h1,459.3+0.192%$3K$1.2M20xas long as short
SoDEX ZEC-USD+0.0100%1h1,455.9−0.041%$233K$3.5M10xas long as short
HTX ZEC-USDT+0.0100%8h1,456−0.034%$2.6M$18.4M75xas long as short
Phemex ZECUSDT+0.0100%8h1,456.3−0.014%$3.8M$5.1M50xas long as short
Extended ZEC-USD+0.0104%1h1,456−0.032%$2.8M$7.7M10xas long as short
Aevo ZEC-PERP+0.0104%1h1,456.1−0.028%$47K$153K20xas long as short
01 Exchange ZECUSD+0.0128%1h1,457.7+0.084%$8K$7K5xas long as short
Kraken Futures PF_ZECUSD+0.0196%1h1,455.5−0.065%$18.0M$44.7M25xas long as short
Lighter ZEC+0.0216%1h1,457.8+0.095%$19.0M$46.5M20xas long as short
Arcus ZEC-USD+0.0277%1h1,458.2+0.119%$709K$8.5M10xas long as short
Deribit ZEC_USDC-PERPETUAL+0.0295%1h1,457.1+0.045%$613K$1.3M25xas long as short
Lighter RH ZEC+0.0344%1h1,458.1+0.115%$2.0M$6.9M10xas long as short
RISEx ZEC/USDC+0.0409%1h1,456.8+0.024%$831K$1.0M10xas long as short
Coinbase International ZEC-PERP-INTX+0.0456%1h1,458.2+0.122%$3.7M$9.1M50xas long as short
Aftermath Perps ZECUSD+0.0698%1h1,455.5−0.069%$45K$49K10xas long as short