Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0364%/8h= −39.9% APRpaid last 24h −0.084%

Price spread now: Binance against Coinbase International−0.236%7-day average −0.130% · you buy dearer than you sell

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$330.334% of the position

Long on Coinbase International Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.180%−$18 on $10k

Price spread, last 4 days (all we have)−0.377%−$38 · spread now −0.236%, 7d avg −0.130%

Together, before fees−0.557%−$56 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Binance is 0.106% cheaper against Coinbase International than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.130%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.180% in total (about -9.4% 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	Coinbase International ZEC-PERP-INTX	1,459.7	0.0464	pay 0.0058% / 1h	28m 16s	$3.8M	$9.1M	50x
Short	Binance ZECUSDT	1,456.2	0.0100	get 0.0100% / 8h	3h 28m	$670.0M	$2.19B	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Coinbase International. 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 Coinbase InternationalbpFee BinancebpOrdersPrice spread, now −0.236%Rate

Funding earned: −$76.44
Price spread: −0.236% → −0.130%: −$10.59
Slippage, 4 orders: −$13.42
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$120.44
Costs to cover: 0.334%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 1 min ago; Binance: live order book, 16 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 Coinbase International live order book, 1 min ago	1.89 bp	8.4 bp −$8	12.5 bp −$125	41.8 bp −$4,181	doesn't fit
Sell Binance live order book, 16 min ago	0.03 bp	5.0 bp −$5	5.2 bp −$52	16.0 bp −$1,599	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	1,457.6	−0.140%	$34K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,456.4	−0.224%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0070%	8h	1,456.1	−0.245%	$29.4M	$70.7M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,456.3	−0.230%	$410K	$36K	5x	as long as short
Perpl ZEC	0.0000%	43m	1,455.4	−0.294%	$83K	$239K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,456.1	−0.245%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0063%	8h	1,455.8	−0.264%	$291K	$944K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0083% / S −0.0034%	1h	1,456.1	−0.248%	$434K	—	100x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,456.5	−0.217%	$174K	$1.7M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,456.3	−0.229%	$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	−0.252%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,456	−0.249%	$2.8M	$6.6M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,456.3	−0.230%	$14.5M	$28.0M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,456.5	−0.219%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDTshort	+0.0100%	8h	1,456.2	−0.236%	$670.0M	$2.19B	75x
Bybit ZECUSDT	+0.0100%	8h	1,455.4	−0.293%	$261.1M	$599.3M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,456	−0.251%	$178.7M	$1.22B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,455.7	−0.273%	$395K	$434K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,453.9	−0.398%	$878K	$18K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,456.2	−0.242%	$51.3M	$171.5M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,456.5	−0.221%	$218.5M	$769.9M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,456.2	−0.236%	$102.8M	$53.5M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,456.1	−0.245%	$165.6M	$270.1M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,455.5	−0.287%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,457	−0.183%	$47.8M	$32.8M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,456.6	−0.210%	$567K	$8.5M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,456.7	−0.204%	$3.0M	$463K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,457.4	−0.157%	$403K	$944K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,456.5	−0.216%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,456.2	−0.238%	$353K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,456.1	−0.243%	$160K	$185K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,454.6	−0.346%	$444K	$521K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,458.2	−0.099%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,456	−0.256%	$233K	$3.2M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,455.7	−0.273%	$2.7M	$18.4M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,456.4	−0.225%	$3.8M	$4.9M	50x	as long as short
Lighter RH ZEC	+0.0104%	1h	1,457.7	−0.138%	$2.1M	$7.0M	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,455.5	−0.289%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,455.7	−0.273%	$47K	$151K	20x	as long as short
Phoenix ZEC	+0.0116%	1h	1,455	−0.321%	$4.6M	$1.3M	10x	as long as short
01 Exchange ZECUSD	+0.0120%	1h	1,456.8	−0.195%	$8K	$7K	5x	as long as short
Kalshi KXZECPERP	+0.0142%	8h	1,456.7	−0.207%	$1.5M	$4.4M	2.2x	as long as short
Lighter ZEC	+0.0144%	1h	1,457.4	−0.159%	$19.2M	$45.0M	20x	as long as short
Hyperliquid ZEC	+0.0146%	1h	1,457.8	−0.129%	$758.9M	$426.0M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0155%	1h	1,456.5	−0.216%	$2.4M	$3.8M	15x	as long as short
RISEx ZEC/USDC	+0.0216%	1h	1,456.2	−0.237%	$921K	$1.1M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0218%	1h	1,456.4	−0.227%	$613K	$1.3M	25x	as long as short
Kraken Futures PF_ZECUSD	+0.0333%	1h	1,455.8	−0.266%	$18.0M	$45.3M	25x	as long as short
Arcus ZEC-USD	+0.0344%	1h	1,458	−0.115%	$697K	$8.2M	10x	as long as short
Coinbase International ZEC-PERP-INTXlong	+0.0464%	1h	1,459.7	long leg	$3.8M	$9.1M	50x
Aftermath Perps ZECUSD	+0.0672%	1h	1,455.8	−0.264%	$45K	$49K	10x	as long as short