Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0030%/8h= +3.3% APRpaid last 24h −0.004%

Price spread now: Paradex against GMX−0.069%7-day average — · you buy dearer than you sell

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

Long on GMX Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding pays, the price is against you. Paradex is 0.069% cheaper against GMX than usual: you would sell low and buy high (spread −0.069% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 7.5 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX ZEC/USD [WBTC.b-USDC]	1,461.8	L +0.0070% / S −0.0020%	pay 0.0009% / 1h	13m 39s	$410K	—	100x
Short	Paradex ZEC-USD-PERP	1,460.8	0.0100	get 0.0100% / 8h	4h 13m	$60K	$43K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.069%Rate

Funding earned: $6.39
Price spread: −0.069% → 0.000%: −$6.89
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$16.5
Costs to cover: 0.160%
Break-even: 25.1 days

Slippage unknown: GMX: no order-book sample; Paradex: 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

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy GMX no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

GMX and Paradex: 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.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective ZEC/USDC PERP	−0.3166%	1h	1,445.2	−1.132%	$33K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,462.2	+0.030%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0069%	8h	1,460.4	−0.093%	$29.5M	$71.0M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,461.1	−0.048%	$411K	$38K	5x	as long as short
Perpl ZEC	0.0000%	43m	1,461.5	−0.016%	$84K	$240K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,462	+0.013%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0063%	8h	1,462	+0.013%	$292K	$952K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]long	L +0.0070% / S −0.0020%	1h	1,461.8	long leg	$410K	—	100x
01 Exchange ZECUSD	+0.0072%	1h	1,461	−0.054%	$8K	$7K	5x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,460.6	−0.078%	$173K	$1.7M	50x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps ZEC-USD	+0.0100%	8h	1,460.9	−0.058%	$11K	$857K	10x	as long as short
Paradex ZEC-USD-PERPshort	+0.0100%	8h	1,460.8	−0.069%	$60K	$43K	10x
Nado ZEC-PERP	+0.0100%	1h	1,462.6	+0.057%	$2.8M	$6.7M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,462	+0.015%	$760.3M	$432.1M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,460.9	−0.058%	$14.8M	$28.0M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,461	−0.051%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,460.7	−0.070%	$671.4M	$2.21B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,460.1	−0.115%	$262.1M	$602.4M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,460.6	−0.083%	$178.4M	$1.23B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,459.2	−0.176%	$396K	$442K	5x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,460.6	−0.080%	$50.7M	$175.1M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,460.7	−0.071%	$216.5M	$774.3M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,460.8	−0.065%	$103.1M	$53.9M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,461	−0.055%	$166.2M	$271.0M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,460.1	−0.113%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,459.3	−0.170%	$47.9M	$32.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,460.1	−0.112%	$569K	$8.6M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,460.7	−0.076%	$3.0M	$437K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,460.8	−0.069%	$405K	$940K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,460.6	−0.080%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,462	+0.015%	$355K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,461.6	−0.014%	$161K	$185K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,461.1	−0.049%	$446K	$521K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,463.2	+0.098%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,461.9	+0.010%	$234K	$3.4M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,461	−0.054%	$2.7M	$18.4M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,461.5	−0.017%	$3.8M	$5.1M	50x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,460.6	−0.078%	$882K	$18K	10x	as long as short
Kalshi KXZECPERP	+0.0100%	8h	1,461.8	+0.002%	$1.5M	$4.5M	2.2x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,460.5	−0.086%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,461.8	+0.004%	$47K	$151K	20x	as long as short
Phoenix ZEC	+0.0123%	1h	1,460.1	−0.115%	$4.6M	$1.3M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0142%	1h	1,462.5	+0.050%	$2.4M	$3.8M	15x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0187%	1h	1,462.8	+0.069%	$617K	$1.3M	25x	as long as short
Lighter ZEC	+0.0248%	1h	1,462	+0.012%	$19.2M	$46.0M	20x	as long as short
Kraken Futures PF_ZECUSD	+0.0276%	1h	1,461.7	−0.005%	$18.1M	$45.0M	25x	as long as short
Lighter RH ZEC	+0.0360%	1h	1,462.1	+0.022%	$2.1M	$7.0M	10x	as long as short
RISEx ZEC/USDC	+0.0412%	1h	1,460.9	−0.060%	$925K	$1.1M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0448%	1h	1,464.1	+0.157%	$3.8M	$9.1M	50x	as long as short
Arcus ZEC-USD	+0.0626%	1h	1,462	+0.017%	$680K	$8.3M	10x	as long as short
Aftermath Perps ZECUSD	+0.0680%	1h	1,461.3	−0.030%	$45K	$49K	10x	as long as short