Funding arb · Price arb /

ZEC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.4230%/8h= −463.2% APRpaid last 24h −0.901%

Price spread now: Injective against MEXC−1.054%7-day average +0.006% · you buy dearer than you sell

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

Long on MEXC Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−2.378%−$238 on $10k

Price spread, last 4 days (all we have)+1.805%+$180 · spread now −1.054%, 7d avg +0.006%

Together, before fees−0.574%−$57 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$127 a day on $10k at the current rate, and Injective is 1.060% cheaper against MEXC than usual: you would sell low and buy high (−$106 if the spread goes back to its 7-day average of +0.006%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -2.378% in total (about -124.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ZEC_USDT	1,503.5	0.0100	pay 0.0100% / 8h	5h 06m	$180.0M	$844.5M	150x
Short	Injective ZEC/USDC PERP	1,487.6	−0.4130	pay 0.0516% / 1h	6m 36s	$36K	$267K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against MEXC. 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 MEXCbpFee InjectivebpOrdersPrice spread, now −1.054%Rate

Funding earned: −$888.32
Price spread: −1.054% → +0.006%: −$106.04
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$994.38
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 6 min ago; Injective: live order book, 40 min ago. 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 MEXC live order book, 6 min ago	0.67 bp	0.7 bp −$1	1.1 bp −$11	22.6 bp −$2,259	81.0 bp −$40.5K
Sell Injective live order book, 40 min ago	70.45 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

ZEC on 51 exchanges

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 PERPshort	−0.4130%	1h	1,487.6	−1.054%	$36K	$267K	12x
Aftermath Perps ZECUSD	−0.0276%	1h	1,505.1	+0.110%	$49K	$74K	10x	as long as short
BloFin ZEC-USDT	−0.0200%	8h	1,502.9	−0.038%	$31.8M	$72.2M	75x	as long as short
Ondo Perps ZEC-USD.P	−0.0123%	1h	1,505.6	+0.140%	$408K	$498K	5x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,503.1	−0.025%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,502.8	−0.043%	$414K	$37K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,504.4	+0.062%	$1.5M	$4.9M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,503.5	−0.001%	$63K	$298K	10x	as long as short
ApeX Omni ZECUSDT	+0.0002%	1h	1,504.7	+0.082%	$412K	$951K	50x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,505.2	+0.114%	$5.3M	—	150x	as long as short

Show all 51 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange ZECUSD	+0.0032%	1h	1,503.9	+0.029%	$8K	$6K	5x	as long as short
RISEx ZEC/USDC	+0.0032%	1h	1,503.5	−0.001%	$894K	$1.3M	10x	as long as short
Phoenix ZEC	+0.0060%	1h	1,505.6	+0.140%	$4.8M	$1.3M	10x	as long as short
Orderly PERP_ZEC_USDC	+0.0061%	8h	1,502.3	−0.078%	$303K	$715K	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0065%	1h	1,503	−0.033%	$693K	$1.3M	25x	as long as short
Aster ZECUSDT	+0.0085%	8h	1,503.3	−0.010%	$14.4M	$26.0M	75x	as long as short
Lighter ZEC	+0.0096%	1h	1,504	+0.032%	$19.9M	$39.9M	20x	as long as short
Lighter RH ZEC	+0.0096%	1h	1,504.2	+0.049%	$2.1M	$7.2M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,503.1	−0.025%	$170K	$1.3M	50x	as long as short
Katana Perps ZEC-USD	+0.0098%	8h	1,503.4	−0.004%	$27K	$859K	10x	as long as short
Kraken Futures PF_ZECUSD	+0.0099%	1h	1,503.2	−0.022%	$18.6M	$45.4M	25x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,503.3	−0.010%	$62K	$14K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,503.1	−0.027%	$3.1M	$6.9M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,503.6	+0.007%	$793.2M	$420.7M	10x	as long as short
Pacifica ZEC	+0.0100%	1h	1,503.3	−0.015%	$1.6M	$2.1M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,503.3	−0.012%	$704.1M	$2.13B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,502.3	−0.080%	$274.9M	$578.9M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,502.5	−0.068%	$187.0M	$1.26B	50x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,504	+0.037%	$598K	$8.3M	10x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,506.6	+0.204%	$780K	$182K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,503.3	−0.013%	$64.2M	$175.5M	75x	as long as short
MEXC ZEC_USDTlong	+0.0100%	8h	1,503.5	long leg	$180.0M	$844.5M	150x
KuCoin ZECUSDTM	+0.0100%	8h	1,502.5	−0.063%	$105.8M	$51.3M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,503.4	−0.006%	$164.2M	$270.7M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,503.4	−0.007%	—	$120.5M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,502.9	−0.037%	$2.2M	$3.7M	15x	as long as short
Variational Omni ZEC	+0.0100%	8h	1,505.7	+0.145%	$49.6M	$33.0M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,504.8	+0.085%	$550K	$8.3M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,506.8	+0.219%	$3.1M	$635K	10x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,503.5	+0.002%	$112K	$4.5M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,503.1	−0.026%	$368K	$1.4M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,503.1	−0.029%	$168K	$189K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,503.9	+0.030%	$393K	$492K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,504.7	+0.077%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,502.8	−0.047%	$257K	$3.4M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,501.7	−0.120%	$2.7M	$20.0M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,503.6	+0.009%	$4.0M	$4.7M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,503.3	−0.013%	$2.7M	$7.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,502	−0.101%	$37K	$163K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0199% / S −0.0218%	1h	1,503	−0.033%	$349K	—	100x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0352%	1h	1,505	+0.100%	$3.9M	$9.2M	50x	as long as short