Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0396%/8h= +43.4% APRpaid last 24h +0.085%

Price spread now: Coinbase International against MEXC+0.134%7-day average +0.128% · you sell dearer than you buy

Net, funding: paid 7d − costs−$4as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$230.230% of the position

Long on MEXC Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.188%+$19 on $10k

Price spread, last 4 days (all we have)+0.296%+$30 · spread now +0.134%, 7d avg +0.128%

Together, before fees+0.485%+$48 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.128%, so right now this pair is about funding alone: +$12 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.188% in total (about 9.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ZEC_USDT	1,495	0.0100	pay 0.0100% / 8h	2h 02m	$232.2M	$785.7M	150x
Short	Coinbase International ZEC-PERP-INTX	1,497	0.0496	get 0.0062% / 1h	2m 07s	$3.7M	$9.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against MEXC. 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 MEXCbpFee Coinbase InternationalbpOrdersPrice spread, now +0.134%Rate

Funding earned: $83.16
Price spread: +0.134% → +0.128%: $0.63
Slippage, 4 orders: −$13.05
Fee MEXC: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $60.74
Costs to cover: 0.230%
Break-even: 1.9 days

Slippage from MEXC: live order book, 2 min ago; Coinbase International: live order book, 2 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 MEXC live order book, 2 min ago	0.03 bp	0.0 bp $0	0.0 bp $0	29.5 bp −$2,949	75.2 bp −$37.6K
Sell Coinbase International live order book, 2 min ago	3.14 bp	13.9 bp −$14	17.2 bp −$172	50.8 bp −$5,077	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	−0.3243%	1h	1,479.2	−1.058%	$34K	$273K	12x	as long as short
BloFin ZEC-USDT	−0.0117%	8h	1,495.8	+0.056%	$30.7M	$74.0M	75x	as long as short
Bulk ZEC-USD	−0.0102%	1h	1,494.5	−0.029%	$903K	$15K	10x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,495.5	+0.037%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,495.1	+0.007%	$415K	$35K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,495.8	+0.054%	$1.6M	$4.6M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,494.6	−0.025%	$85K	$239K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,495.1	+0.005%	$5.3M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0070%	8h	1,494.6	−0.027%	$300K	$1.1M	20x	as long as short
01 Exchange ZECUSD	+0.0080%	1h	1,495.6	+0.045%	$8K	$7K	5x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix ZEC	+0.0092%	1h	1,500.8	+0.390%	$4.8M	$1.3M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,495.5	+0.035%	$153K	$1.7M	50x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,494.7	−0.015%	$2.8M	$6.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,496.2	+0.082%	$780.0M	$438.5M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,494.5	−0.033%	$14.2M	$29.5M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,494.9	−0.004%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,494.5	−0.029%	$694.2M	$2.28B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,494.3	−0.044%	$274.6M	$621.1M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,494.3	−0.047%	$181.4M	$1.31B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,495.1	+0.009%	$407K	$480K	5x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,494.7	−0.015%	$54.1M	$182.6M	75x	as long as short
MEXC ZEC_USDTlong	+0.0100%	8h	1,495	long leg	$232.2M	$785.7M	150x
KuCoin ZECUSDTM	+0.0100%	8h	1,495	+0.004%	$103.0M	$56.1M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,495	+0.001%	$161.2M	$285.3M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,494	−0.067%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,498.3	+0.226%	$49.0M	$33.3M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,496.8	+0.119%	$572K	$8.8M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,498.9	+0.263%	$3.1M	$477K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,495.8	+0.054%	$414K	$930K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,495.2	+0.012%	$57K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,495.2	+0.015%	$362K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,495	+0.002%	$164K	$184K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,493.7	−0.085%	$456K	$500K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,497.1	+0.140%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,494.7	−0.018%	$254K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,493.6	−0.092%	$2.6M	$19.6M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,495	+0.001%	$4.0M	$5.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,494.8	−0.009%	$62K	$43K	10x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,495.2	+0.012%	$12K	$858K	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,494.7	−0.021%	$2.8M	$7.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,494.5	−0.029%	$45K	$149K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0109% / S −0.0086%	1h	1,494.7	−0.020%	$404K	—	100x	as long as short
Kraken Futures PF_ZECUSD	+0.0144%	1h	1,494.8	−0.009%	$18.1M	$46.2M	25x	as long as short
RISEx ZEC/USDC	+0.0154%	1h	1,495.5	+0.035%	$933K	$1.2M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0198%	1h	1,495.4	+0.026%	$711K	$1.4M	25x	as long as short
Lighter ZEC	+0.0216%	1h	1,496.2	+0.081%	$19.6M	$45.9M	20x	as long as short
Lighter RH ZEC	+0.0216%	1h	1,496.3	+0.090%	$2.1M	$7.3M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0336%	1h	1,495.5	+0.037%	$2.3M	$3.9M	15x	as long as short
Aftermath Perps ZECUSD	+0.0365%	1h	1,497.3	+0.154%	$50K	$61K	10x	as long as short
Coinbase International ZEC-PERP-INTXshort	+0.0496%	1h	1,497	+0.134%	$3.7M	$9.9M	50x
Arcus ZEC-USD	+0.0508%	1h	1,496.4	+0.093%	$617K	$8.6M	10x	as long as short