Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0090%/8h= −9.9% APRpaid last 24h −0.009%

Price spread now: GMX against Katana Perps+0.161%7-day average +0.047% · you sell dearer than you buy

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

Long on Katana Perps Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.122%−$12 on $10k

Price spread, last 3 days (all we have)−0.047%−$5 · spread now +0.161%, 7d avg +0.047%

Together, before fees−0.170%−$17 on $10k · with fees, hour by hour

The price spread pays, funding is against you. GMX is 0.114% dearer against Katana Perps than usual: you sell high and buy low (spread +0.161% now, against its 7-day average of +0.047%): +$11 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 4.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps ZEC-USD	1,468.9	0.0100	pay 0.0100% / 8h	6h 39m	$16K	$839K	10x
Short	GMX ZEC/USD [WBTC.b-USDC]	1,471.2	L +0.0055% / S −0.0009%	get 0.0001% / 1h	39m 19s	$384K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Katana Perps. 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 Katana PerpsbpFee GMXbpOrdersPrice spread, now +0.161%Rate

Funding earned: −$18.97
Price spread: +0.161% → +0.047%: $11.42
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee GMX: 6 bp × 2 orders: −$12
Net: −$23.34
Costs to cover: 0.158%
Break-even: never at this rate

Slippage unknown: Katana Perps: no order-book sample; GMX: 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 Katana Perps no order-book sample	—	—	—	—	—
Sell GMX no order-book sample	—	—	—	—	—

Katana Perps and 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 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	−0.3678%	1h	1,469.7	+0.056%	$34K	$274K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,465.1	−0.260%	$6K	$1K	10x	as long as short
Ondo Perps ZEC-USD.P	−0.0060%	1h	1,467.1	−0.121%	$398K	$516K	5x	as long as short
Kraken Futures PF_ZECUSD	−0.0002%	1h	1,471.9	+0.203%	$18.0M	$43.7M	25x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,469.5	+0.039%	$414K	$57K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,466.9	−0.138%	$971K	$5.1M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,470.1	+0.084%	$84K	$261K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,471.5	+0.175%	$5.2M	—	150x	as long as short
BloFin ZEC-USDT	+0.0012%	8h	1,475.2	+0.430%	$29.6M	$73.3M	75x	as long as short
Variational Omni ZEC	+0.0023%	8h	1,466.1	−0.189%	$47.8M	$33.3M	—	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	+0.0026%	8h	1,471.5	+0.180%	$294K	$1.1M	20x	as long as short
01 Exchange ZECUSD	+0.0040%	1h	1,470.4	+0.103%	$8K	$9K	5x	as long as short
GMX ZEC/USD [WBTC.b-USDC]short	L +0.0055% / S −0.0009%	1h	1,471.2	+0.161%	$384K	—	100x
Phoenix ZEC	+0.0070%	1h	1,466.9	−0.138%	$4.6M	$1.5M	10x	as long as short
OKX ZEC-USDT-SWAP	+0.0086%	8h	1,471.8	+0.196%	$181.2M	$1.29B	50x	as long as short
Gate ZEC_USDT	+0.0086%	8h	1,471.4	+0.168%	$49.9M	$174.9M	75x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,469.8	+0.063%	$173K	$1.8M	50x	as long as short
Katana Perps ZEC-USDlong	+0.0100%	8h	1,468.9	long leg	$16K	$839K	10x
Paradex ZEC-USD-PERP	+0.0100%	8h	1,469.6	+0.046%	$61K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,470	+0.079%	$2.5M	$6.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,471.8	+0.199%	$765.9M	$443.7M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,469.6	+0.050%	$14.8M	$31.0M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,469.6	+0.052%	$1.7M	$2.7M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,471.6	+0.183%	$679.8M	$2.35B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,471.4	+0.174%	$271.4M	$628.9M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,471.2	+0.158%	$215.9M	$795.7M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,470.8	+0.131%	$103.5M	$56.3M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,471.6	+0.184%	$163.4M	$286.8M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,470.8	+0.132%	—	$6.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,469.5	+0.041%	$572K	$9.0M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,465.5	−0.233%	$3.0M	$443K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,467.8	−0.074%	$427K	$906K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,465.3	−0.243%	$71K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,471.2	+0.158%	$339K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,471.1	+0.150%	$128K	$158K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,470.1	+0.083%	$458K	$510K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,473.9	+0.338%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,471.6	+0.186%	$242K	$3.9M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,464.6	−0.289%	$2.5M	$19.2M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,467.1	−0.120%	$3.9M	$5.4M	50x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,474.6	+0.393%	$897K	$17K	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,471.4	+0.175%	$3.2M	$7.1M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,471.2	+0.158%	$48K	$167K	20x	as long as short
Lighter ZEC	+0.0224%	1h	1,470.5	+0.110%	$19.2M	$48.0M	20x	as long as short
Lighter RH ZEC	+0.0232%	1h	1,470.8	+0.131%	$2.1M	$7.1M	10x	as long as short
Arcus ZEC-USD	+0.0254%	1h	1,470.7	+0.124%	$692K	$8.7M	10x	as long as short
RISEx ZEC/USDC	+0.0374%	1h	1,470.2	+0.091%	$854K	$1.0M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0422%	1h	1,472.6	+0.251%	$606K	$1.3M	25x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0472%	1h	1,473.3	+0.300%	$3.6M	$9.7M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0497%	1h	1,467.2	−0.112%	$2.5M	$3.9M	15x	as long as short
Aftermath Perps ZECUSD	+0.0736%	1h	1,471	+0.144%	$44K	$46K	10x	as long as short