Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:29 UTC+0.3089%/8h= +338.2% APRpaid last 24h +0.428%

Price spread now: Perpl against Injective−0.238%7-day average −0.149% · you buy dearer than you sell

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

Long on Injective Short on Perpl

What this pair did over the last

the charts below follow

Funding, last 7 days+2.169%+$217 on $10k

Price spread, last 3 days (all we have)+0.633%+$63 · spread now −0.238%, 7d avg −0.149%

Together, before fees+2.802%+ Points / potential airdropPerpl: Active · farm board+$280 on $10k · with fees, hour by hour

Funding pays, the price is against you. Perpl is 0.089% cheaper against Injective than usual: you would sell low and buy high (spread −0.238% now, against its 7-day average of −0.149%). If the spread goes back, that is −$9 on $10k: about 2 hours of funding at the current rate (+$93 a day). At the pace of the last 7 days (+2.169% in total) that is about 7 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective ZEC/USDC PERP	1,472.9	−0.3089	get 0.0386% / 1h	25m 01s	$34K	$275K	12x
Short	Perpl ZEC	1,469.4	0	get 0.0000% / 43m	21m 01s	$83K	$404K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Perpl against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpFee PerplbpOrdersPrice spread, now −0.238%Rate

Funding earned: $648.65
Price spread: −0.238% → −0.149%: −$8.88
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Net: $625.95
Costs to cover: 0.138%
Break-even: 0.2 days

Slippage unknown: Injective: live order book, 54 min ago; Perpl: 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 Injective live order book, 54 min ago	64.22 bp	489625.2 bp −$489.6K	4953667.0 bp −$49.54M	49304404.0 bp −$4930.44M	245694928.0 bp −$122847.46M
Sell Perpl no order-book sample	—	—	—	—	—

Perpl: 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 PERPlong	−0.3089%	1h	1,472.9	long leg	$34K	$275K	12x
Ondo Perps ZEC-USD.P	−0.0269%	1h	1,468.3	−0.314%	$399K	$515K	5x	as long as short
Kraken Futures PF_ZECUSD	−0.0225%	1h	1,471.2	−0.121%	$17.9M	$44.3M	25x	as long as short
Bybit ZECUSDT	−0.0115%	8h	1,470.9	−0.137%	$275.1M	$653.1M	75x	as long as short
BloFin ZEC-USDT	−0.0102%	8h	1,470.8	−0.143%	$29.7M	$75.1M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,469.8	−0.216%	$6K	$2K	10x	as long as short
Variational Omni ZEC	−0.0060%	8h	1,471.8	−0.080%	$46.8M	$33.9M	—	as long as short
ApeX Omni ZECUSDT	−0.0006%	1h	1,470.3	−0.181%	$431K	$842K	50x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,468.8	−0.280%	$414K	$104K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,468.6	−0.293%	$901K	$5.6M	2.2x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl ZECshort	0.0000%	43m	1,469.4	−0.238%	$83K	$404K	10x
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,470.1	−0.190%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0013%	8h	1,470.5	−0.168%	$295K	$1.4M	20x	as long as short
01 Exchange ZECUSD	+0.0016%	1h	1,469.9	−0.208%	$8K	$8K	5x	as long as short
Phoenix ZEC	+0.0024%	1h	1,470.8	−0.147%	$4.6M	$1.6M	10x	as long as short
OKX ZEC-USDT-SWAP	+0.0039%	8h	1,471.5	−0.096%	$180.9M	$1.34B	50x	as long as short
Gate ZEC_USDT	+0.0043%	8h	1,471.5	−0.100%	$50.7M	$186.7M	75x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0055% / S −0.0010%	1h	1,470.1	−0.190%	$371K	—	100x	as long as short
Lighter ZEC	+0.0096%	1h	1,473	+0.003%	$19.2M	$52.4M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,469.5	−0.236%	$175K	$1.9M	50x	as long as short
Katana Perps ZEC-USD	+0.0097%	8h	1,468.5	−0.302%	$13K	$834K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,468.7	−0.284%	$60K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,469.7	−0.217%	$2.6M	$6.8M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,472.4	−0.036%	$763.3M	$474.5M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,471.4	−0.101%	$15.0M	$32.7M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,469.5	−0.231%	$1.7M	$2.9M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,471.4	−0.102%	$684.5M	$2.46B	75x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,470.8	−0.143%	$701K	$8.4M	10x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,469.8	−0.216%	$894K	$39K	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,471.3	−0.109%	$233.4M	$839.4M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,471.2	−0.115%	$103.6M	$56.0M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,471.6	−0.091%	$163.1M	$301.3M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,471.4	−0.105%	—	$102.4M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,470.6	−0.159%	$513K	$9.2M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,473.2	+0.016%	$3.0M	$454K	10x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,471.9	−0.071%	$110K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,469.5	−0.233%	$343K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,469.7	−0.220%	$128K	$159K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,468.9	−0.274%	$448K	$498K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,472	−0.062%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,470.5	−0.168%	$238K	$4.4M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,470.6	−0.161%	$2.5M	$23.1M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,471.7	−0.084%	$3.8M	$5.3M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,470.9	−0.138%	$3.3M	$6.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,470.2	−0.187%	$37K	$366K	20x	as long as short
RISEx ZEC/USDC	+0.0132%	1h	1,470.1	−0.193%	$824K	$1.2M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0158%	1h	1,471.5	−0.100%	$614K	$1.3M	25x	as long as short
Backpack ZEC_USDC_PERP	+0.0414%	1h	1,472.3	−0.042%	$2.4M	$3.8M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0432%	1h	1,473.6	+0.048%	$3.8M	$10.6M	50x	as long as short
Lighter RH ZEC	+0.0456%	1h	1,472.6	−0.024%	$2.0M	$8.4M	10x	as long as short
Aftermath Perps ZECUSD	+0.0725%	1h	1,471.4	−0.105%	$46K	$47K	10x	as long as short