Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.008%

Price spread now: Binance against Deribit+0.044%55s7-day average −0.067% · you sell dearer than you buy

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$280.284% of the position

Long on Deribit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.140%−$14 on $10k

Price spread, last 4 days (all we have)−0.331%−$33 · spread now +0.044%, 7d avg −0.067%

Together, before fees−0.471%−$47 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Binance is 0.112% dearer against Deribit than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of −0.067%. Mind the row above: over the last 7 days funding on this pair cost −0.140%, so the current rate has only just turned in your favour. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit ZEC_USDC-PERPETUAL	1,494.4	0	get 0.0000% / 1h	3m 28s	$682K	$1.4M	25x
Short	Binance ZECUSDT	1,495	0.0100	get 0.0100% / 8h	1h 03m	$696.8M	$2.31B	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Deribit. 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 DeribitbpFee BinancebpOrdersPrice spread, now +0.044%Rate

Funding earned: $21
Price spread: +0.044% → −0.067%: $11.17
Slippage, 4 orders: −$11.41
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: $3.76
Costs to cover: 0.284%
Break-even: 5.7 days

Slippage from Deribit: live order book, 1 min ago; Binance: live order book, 11 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 Deribit live order book, 1 min ago	4.35 bp	8.7 bp −$9	15.0 bp −$150	doesn't fit	doesn't fit
Sell Binance live order book, 11 min ago	0.03 bp	6.8 bp −$7	7.4 bp −$74	17.6 bp −$1,763	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	−0.3684%	1h	1,481	−0.895%	$36K	$275K	12x	as long as short
Perpl ZEC	−0.0447%	43m	1,493.9	−0.032%	$61K	$304K	10x	as long as short
BloFin ZEC-USDT	−0.0143%	8h	1,494.8	+0.031%	$30.9M	$75.1M	75x	as long as short
Kraken Futures PF_ZECUSD	−0.0096%	1h	1,494.2	−0.013%	$18.1M	$46.6M	25x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,495.3	+0.062%	$6K	$1K	10x	as long as short
Aftermath Perps ZECUSD	−0.0006%	1h	1,495.4	+0.068%	$48K	$64K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,495	+0.041%	$415K	$35K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,495.8	+0.096%	$1.5M	$4.7M	2.2x	as long as short
Deribit ZEC_USDC-PERPETUALlong	0.0000%	1h	1,494.4	long leg	$682K	$1.4M	25x
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,494.4	+0.004%	$5.3M	—	150x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_ZEC_USDC	+0.0080%	8h	1,494.4	+0.004%	$301K	$1.1M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,494.8	+0.029%	$171K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0097%	8h	1,495.2	+0.057%	$12K	$876K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,494.6	+0.015%	$62K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,495.4	+0.071%	$3.1M	$7.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,495.5	+0.077%	$780.9M	$447.0M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,494.6	+0.019%	$14.0M	$31.1M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,495	+0.043%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDTshort	+0.0100%	8h	1,495	+0.044%	$696.8M	$2.31B	75x
Bybit ZECUSDT	+0.0100%	8h	1,494.2	−0.010%	$267.7M	$630.5M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,494.7	+0.024%	$182.4M	$1.34B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,494.1	−0.017%	$408K	$554K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,494.2	−0.008%	$903K	$7K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,495	+0.040%	$55.3M	$187.4M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,495	+0.043%	$242.9M	$799.9M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,495	+0.040%	$102.9M	$57.3M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,494.8	+0.027%	$160.8M	$289.8M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,494	−0.025%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,495.2	+0.054%	$48.9M	$34.8M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,494.8	+0.032%	$572K	$9.0M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,496.3	+0.132%	$3.1M	$510K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,495.6	+0.081%	$412K	$943K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,494.7	+0.021%	$56K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,495	+0.043%	$358K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,494.2	−0.013%	$164K	$184K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,493.1	−0.086%	$456K	$500K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,496.2	+0.122%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,493.9	−0.029%	$254K	$3.6M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,496.2	+0.124%	$2.7M	$20.3M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,495.1	+0.051%	$4.0M	$5.0M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,494.7	+0.021%	$2.8M	$7.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,495	+0.045%	$43K	$151K	20x	as long as short
01 Exchange ZECUSD	+0.0120%	1h	1,495.3	+0.062%	$8K	$7K	5x	as long as short
RISEx ZEC/USDC	+0.0129%	1h	1,494.9	+0.037%	$939K	$1.1M	10x	as long as short
Phoenix ZEC	+0.0134%	1h	1,496.6	+0.150%	$4.8M	$1.4M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0137% / S −0.0133%	1h	1,495.2	+0.055%	$393K	—	100x	as long as short
Lighter RH ZEC	+0.0184%	1h	1,496.4	+0.135%	$2.1M	$7.5M	10x	as long as short
Arcus ZEC-USD	+0.0221%	1h	1,495.5	+0.073%	$612K	$8.8M	10x	as long as short
Lighter ZEC	+0.0256%	1h	1,496.4	+0.140%	$19.6M	$47.1M	20x	as long as short
Backpack ZEC_USDC_PERP	+0.0260%	1h	1,495.8	+0.094%	$2.3M	$3.9M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0480%	1h	1,495.8	+0.093%	$3.7M	$10.1M	50x	as long as short