Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0082%/8h= +9.0% APRpaid last 24h +0.017%

Price spread now: Backpack against KuCoin+0.057%7-day average +0.410% · you sell dearer than you buy

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$68as in the Price arb table

costs, in and out, $10k−$320.323% of the position

Long on KuCoin Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.065%−$7 on $10k

Price spread, last 7 days−0.538%−$54 · spread now +0.057%, 7d avg +0.410%

Together, before fees−0.604%−$60 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.353% cheaper against KuCoin than usual: you would sell low and buy high (spread +0.057% now, against its 7-day average of +0.410%). If the spread goes back, that is −$35 on $10k: about 14 days of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.065%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ZECUSDTM	1,456.1	0.0100	pay 0.0100% / 8h	3h 24m	$102.8M	$53.4M	75x
Short	Backpack ZEC_USDC_PERP	1,456.9	0.0182	get 0.0023% / 1h	24m 37s	$2.4M	$3.8M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against KuCoin. 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 KuCoinbpFee BackpackbpOrdersPrice spread, now +0.057%Rate

Funding earned: $17.17
Price spread: +0.057% → +0.410%: −$35.32
Slippage, 4 orders: −$10.27
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$50.42
Costs to cover: 0.323%
Break-even: 27.6 days

Slippage from KuCoin: live order book, 5 min ago; Backpack: live order book, 4 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 KuCoin live order book, 5 min ago	1.10 bp	11.8 bp −$12	17.0 bp −$170	doesn't fit	doesn't fit
Sell Backpack live order book, 4 min ago	0.03 bp	5.4 bp −$5	15.0 bp −$150	doesn't fit	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	−0.3042%	1h	1,458	+0.130%	$34K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,456.4	+0.021%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0071%	8h	1,456.5	+0.027%	$29.4M	$70.6M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,456.3	+0.015%	$410K	$36K	5x	as long as short
Perpl ZEC	0.0000%	43m	1,456.7	+0.043%	$83K	$239K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,456.3	+0.010%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0063%	8h	1,455.9	−0.016%	$291K	$944K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0084% / S −0.0035%	1h	1,456.1	+0.002%	$434K	—	100x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,456.2	+0.010%	$174K	$1.7M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,456.4	+0.020%	$14K	$820K	10x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex ZEC-USD-PERP	+0.0100%	8h	1,456.8	+0.049%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,456.9	+0.056%	$2.8M	$6.6M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,456.2	+0.008%	$14.5M	$27.9M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,457.1	+0.067%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,456.3	+0.015%	$670.2M	$2.19B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,455.8	−0.022%	$260.8M	$599.1M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,456.1	+0.001%	$178.8M	$1.21B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,455.7	−0.027%	$395K	$434K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,453.9	−0.153%	$878K	$18K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,456.4	+0.023%	$51.4M	$171.7M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,456.8	+0.047%	$218.6M	$770.2M	150x	as long as short
KuCoin ZECUSDTMlong	+0.0100%	8h	1,456.1	long leg	$102.8M	$53.4M	75x
Bitget ZECUSDT	+0.0100%	8h	1,456.6	+0.034%	$165.7M	$269.6M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,456.5	+0.030%	—	$106.9M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,455.5	−0.044%	$47.7M	$32.8M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,456.2	+0.005%	$567K	$8.5M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,456.5	+0.028%	$3.0M	$463K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,456.4	+0.023%	$402K	$943K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,456.6	+0.032%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,456.4	+0.021%	$354K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,456.2	+0.008%	$160K	$185K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,454.9	−0.083%	$444K	$509K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,458.9	+0.194%	$4K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,456.2	+0.009%	$233K	$3.2M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,455.7	−0.028%	$2.7M	$18.4M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,456.5	+0.024%	$3.8M	$4.9M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,456.6	+0.032%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,455.9	−0.011%	$47K	$151K	20x	as long as short
Lighter RH ZEC	+0.0112%	1h	1,457.7	+0.107%	$2.1M	$7.0M	10x	as long as short
Phoenix ZEC	+0.0116%	1h	1,457.6	+0.100%	$4.6M	$1.3M	10x	as long as short
01 Exchange ZECUSD	+0.0128%	1h	1,456.8	+0.048%	$8K	$7K	5x	as long as short
Lighter ZEC	+0.0144%	1h	1,458	+0.131%	$19.2M	$45.1M	20x	as long as short
Hyperliquid ZEC	+0.0144%	1h	1,457.6	+0.103%	$758.9M	$424.2M	10x	as long as short
Kalshi KXZECPERP	+0.0162%	8h	1,457.1	+0.070%	$1.5M	$4.4M	2.2x	as long as short
Backpack ZEC_USDC_PERPshort	+0.0182%	1h	1,456.9	+0.057%	$2.4M	$3.8M	15x
RISEx ZEC/USDC	+0.0216%	1h	1,456.5	+0.024%	$921K	$1.1M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0251%	1h	1,456.7	+0.039%	$613K	$1.3M	25x	as long as short
Kraken Futures PF_ZECUSD	+0.0333%	1h	1,456.2	+0.006%	$18.0M	$45.3M	25x	as long as short
Arcus ZEC-USD	+0.0344%	1h	1,458.3	+0.150%	$697K	$8.2M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0464%	1h	1,458.9	+0.192%	$3.8M	$9.2M	50x	as long as short
Aftermath Perps ZECUSD	+0.0674%	1h	1,456.5	+0.031%	$45K	$49K	10x	as long as short