Funding arb · Price arb /

ZEC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0316%/8h= −34.6% APRpaid last 24h −0.076%

Price spread now: KuCoin against Coinbase International−0.058%7-day average −0.136% · you buy dearer than you sell

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$470.466% of the position

Long on Coinbase International Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.215%−$21 on $10k

Price spread, last 4 days (all we have)−0.255%−$26 · spread now −0.058%, 7d avg −0.136%

Together, before fees−0.470%−$47 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.078% dearer against Coinbase International than usual: you sell high and buy low (spread −0.058% now, against its 7-day average of −0.136%): +$8 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 20 hours. At the pace of the last 7 days (−0.215% in total) that is about 2.5 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.215% in total (about -11.2% 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	1,511.2	0.0416	pay 0.0052% / 1h	4m 52s	$3.7M	$9.8M	50x
Short	KuCoin ZECUSDTM	1,510.3	0.0100	get 0.0100% / 8h	4m 52s	$103.4M	$57.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.058%Rate

Funding earned: −$66.36
Price spread: −0.058% → −0.136%: $7.82
Slippage, 4 orders: −$24.61
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$105.15
Costs to cover: 0.466%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 min ago; KuCoin: live order book, 4 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, 4 min ago	2.63 bp	12.5 bp −$12	16.2 bp −$162	62.0 bp −$6,204	doesn't fit
Sell KuCoin live order book, 4 min ago	1.75 bp	12.2 bp −$12	15.9 bp −$159	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	−0.3442%	1h	1,496.3	−0.985%	$36K	$275K	12x	as long as short
Perpl ZEC	−0.0447%	43m	1,510.2	−0.067%	$62K	$306K	10x	as long as short
Bulk ZEC-USD	−0.0412%	1h	1,508.1	−0.202%	$776K	$147K	10x	as long as short
BloFin ZEC-USDT	−0.0174%	8h	1,510.7	−0.030%	$31.0M	$76.7M	75x	as long as short
Aftermath Perps ZECUSD	−0.0104%	1h	1,510.1	−0.069%	$48K	$59K	10x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,511	−0.011%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,509.7	−0.097%	$420K	$34K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,510.8	−0.021%	$1.6M	$5.0M	2.2x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,510.4	−0.052%	$5.4M	—	150x	as long as short
Kraken Futures PF_ZECUSD	+0.0012%	1h	1,510.7	−0.028%	$18.2M	$47.8M	25x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ZEC-USD.P	+0.0059%	1h	1,507	−0.275%	$412K	$551K	5x	as long as short
01 Exchange ZECUSD	+0.0080%	1h	1,511.3	+0.007%	$8K	$6K	5x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0081%	1h	1,510.8	−0.023%	$690K	$1.4M	25x	as long as short
Orderly PERP_ZEC_USDC	+0.0083%	8h	1,510	−0.079%	$304K	$863K	20x	as long as short
Phoenix ZEC	+0.0096%	1h	1,511.5	+0.024%	$4.8M	$1.4M	10x	as long as short
Lighter RH ZEC	+0.0096%	1h	1,511.9	+0.049%	$2.1M	$7.6M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,511.2	+0.002%	$176K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0097%	8h	1,511.2	+0.002%	$16K	$897K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,510	−0.075%	$62K	$19K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,511.3	+0.013%	$3.1M	$7.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,511.6	+0.029%	$791.7M	$445.0M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,509.6	−0.105%	$14.2M	$31.1M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,510.3	−0.059%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,510.3	−0.055%	$713.4M	$2.33B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,509.8	−0.091%	$272.1M	$626.3M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,510.8	−0.024%	$182.7M	$1.38B	50x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,510	−0.077%	$59.1M	$190.5M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,510.3	−0.055%	$227.4M	$827.0M	150x	as long as short
KuCoin ZECUSDTMshort	+0.0100%	8h	1,510.3	−0.058%	$103.4M	$57.2M	75x
Bitget ZECUSDT	+0.0100%	8h	1,510.2	−0.063%	$163.3M	$293.3M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,510.2	−0.065%	—	$119.6M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,507.8	−0.221%	$49.8M	$35.4M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,511.6	+0.028%	$578K	$9.1M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,510.4	−0.053%	$3.1M	$519K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,511.2	+0.003%	$416K	$948K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,510.1	−0.071%	$54K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,511	−0.011%	$376K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,511.3	+0.012%	$169K	$193K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,513.1	+0.130%	$462K	$408K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,513.7	+0.171%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,510.4	−0.054%	$255K	$3.6M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,509.5	−0.107%	$2.7M	$21.2M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,510.9	−0.017%	$4.1M	$4.9M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,510.2	−0.066%	$2.8M	$7.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,510.1	−0.067%	$43K	$151K	20x	as long as short
RISEx ZEC/USDC	+0.0128%	1h	1,511.5	+0.021%	$959K	$1.1M	10x	as long as short
Lighter ZEC	+0.0144%	1h	1,511.8	+0.041%	$19.6M	$47.0M	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0150% / S −0.0149%	1h	1,510.6	−0.034%	$335K	—	100x	as long as short
Arcus ZEC-USD	+0.0403%	1h	1,511.8	+0.042%	$598K	$8.9M	10x	as long as short
Coinbase International ZEC-PERP-INTXlong	+0.0416%	1h	1,511.2	long leg	$3.7M	$9.8M	50x
Backpack ZEC_USDC_PERP	+0.0493%	1h	1,511.2	+0.001%	$2.3M	$3.7M	15x	as long as short