Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0045%/8h= +4.9% APRpaid last 24h −0.012%

Price spread now: MEXC against GMX+0.096%7-day average −0.036% · you sell dearer than you buy

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

Long on GMX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.035%+$4 on $10k

Price spread, last 3 days (all we have)−0.214%−$21 · spread now +0.096%, 7d avg −0.036%

Together, before fees−0.178%−$18 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and MEXC is 0.132% dearer against GMX than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of −0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX ZEC/USD [WBTC.b-USDC]	1,471.4	L +0.0055% / S −0.0009%	pay 0.0007% / 1h	16m 52s	$384K	—	100x
Short	MEXC ZEC_USDT	1,472.8	0.0100	get 0.0100% / 8h	6h 16m	$216.2M	$801.1M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against GMX. 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 GMXbpFee MEXCbpOrdersPrice spread, now +0.096%Rate

Funding earned: $9.46
Price spread: +0.096% → −0.036%: $13.2
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: $10.66
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; MEXC: live order book, 2 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell MEXC live order book, 2 min ago	0.03 bp	0.0 bp $0	0.1 bp −$1	34.6 bp −$3,455	78.1 bp −$39.0K

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 50 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	−0.3678%	1h	1,459.6	−0.802%	$34K	$274K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,471.7	+0.022%	$6K	$1K	10x	as long as short
Ondo Perps ZEC-USD.P	−0.0014%	1h	1,472.5	+0.078%	$400K	$516K	5x	as long as short
Kraken Futures PF_ZECUSD	−0.0002%	1h	1,471.9	+0.039%	$18.1M	$43.8M	25x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,471.9	+0.034%	$414K	$53K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,471.1	−0.015%	$973K	$4.9M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,471.3	−0.006%	$84K	$254K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,471.4	+0.002%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0030%	8h	1,471.3	−0.006%	$294K	$1.0M	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]long	L +0.0055% / S −0.0009%	1h	1,471.4	long leg	$384K	—	100x

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni ZEC	+0.0055%	8h	1,474.3	+0.198%	$48.1M	$32.6M	—	as long as short
01 Exchange ZECUSD	+0.0064%	1h	1,471.2	−0.012%	$8K	$8K	5x	as long as short
Phoenix ZEC	+0.0070%	1h	1,474.7	+0.226%	$4.7M	$1.5M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,470.8	−0.040%	$173K	$1.8M	50x	as long as short
OKX ZEC-USDT-SWAP	+0.0097%	8h	1,472	+0.043%	$181.3M	$1.27B	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,470.6	−0.052%	$11K	$841K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,471.8	+0.032%	$61K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,471.2	−0.012%	$2.6M	$6.5M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,472.9	+0.105%	$767.3M	$443.5M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,472	+0.045%	$14.8M	$30.1M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,471.8	+0.032%	$1.7M	$2.7M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,472.6	+0.086%	$681.3M	$2.31B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,472.4	+0.074%	$272.0M	$615.4M	75x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,476.6	+0.355%	$896K	$18K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,472.4	+0.069%	$50.2M	$176.2M	75x	as long as short
MEXC ZEC_USDTshort	+0.0100%	8h	1,472.8	+0.096%	$216.2M	$801.1M	150x
KuCoin ZECUSDTM	+0.0100%	8h	1,471.5	+0.007%	$103.4M	$56.4M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,472.6	+0.087%	$163.6M	$282.6M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,472.7	+0.088%	—	$100.5M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,473.6	+0.153%	$574K	$9.0M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,474.3	+0.197%	$3.0M	$453K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,474.1	+0.186%	$429K	$895K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,473.7	+0.159%	$71K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,471.5	+0.010%	$346K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,471.3	−0.001%	$128K	$160K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,470	−0.092%	$457K	$511K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,473.1	+0.117%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,471.5	+0.013%	$243K	$3.6M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,471.6	+0.015%	$2.5M	$18.7M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,472.1	+0.050%	$3.9M	$5.4M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,472.6	+0.081%	$3.2M	$7.1M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,471.2	−0.013%	$48K	$162K	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0139%	1h	1,472.1	+0.051%	$612K	$1.3M	25x	as long as short
Lighter ZEC	+0.0248%	1h	1,473.2	+0.122%	$19.3M	$48.2M	20x	as long as short
Arcus ZEC-USD	+0.0254%	1h	1,472.8	+0.096%	$692K	$8.6M	10x	as long as short
Lighter RH ZEC	+0.0288%	1h	1,473.6	+0.150%	$2.1M	$7.1M	10x	as long as short
RISEx ZEC/USDC	+0.0374%	1h	1,471.5	+0.009%	$865K	$1.0M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0460%	1h	1,471.8	+0.033%	$2.5M	$3.9M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0472%	1h	1,476.8	+0.372%	$3.7M	$9.4M	50x	as long as short
Aftermath Perps ZECUSD	+0.0747%	1h	1,473.7	+0.162%	$44K	$46K	10x	as long as short