Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.009%

Price spread now: Popdex against MEXC+0.069%7-day average 0.000% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$6as in the Price arb table

costs, in and out, $10k−$130.132% of the position

Long on MEXC Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.044%+$4 on $10k

Price spread, last 7 days−0.054%−$5 · spread now +0.069%, 7d avg 0.000%

Together, before fees−0.010%−$1 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Popdex is 0.069% dearer against MEXC than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of 0.000%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ZEC_USDT	1,497.5	0.0100	pay 0.0100% / 8h	1h 16m	$248.2M	$793.3M	150x
Short	Popdex ZECUSDT	1,498.5	0.0096	get 0.0012% / 1h	16m 13s	$171K	$1.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now +0.069%Rate

Funding earned: −$0.84
Price spread: +0.069% → 0.000%: $6.94
Slippage, 4 orders: −$6.81
Fee MEXC: 0 bp × 2 orders: $0
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$7.11
Costs to cover: 0.132%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 min ago; Popdex: live order book, 3 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, 3 min ago	0.03 bp	0.0 bp $0	0.1 bp −$1	0.9 bp −$90	59.4 bp −$29.7K
Sell Popdex live order book, 3 min ago	2.14 bp	5.7 bp −$6	13.6 bp −$136	doesn't fit	doesn't fit

ZEC on 50 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	−0.3684%	1h	1,478.1	−1.295%	$36K	$275K	12x	as long as short
Perpl ZEC	−0.0447%	43m	1,498	+0.033%	$61K	$304K	10x	as long as short
BloFin ZEC-USDT	−0.0157%	8h	1,502.3	+0.325%	$30.7M	$75.2M	75x	as long as short
Kraken Futures PF_ZECUSD	−0.0096%	1h	1,499.9	+0.162%	$18.2M	$46.5M	25x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,501.3	+0.252%	$6K	$1K	10x	as long as short
Bulk ZEC-USD	−0.0051%	1h	1,487.2	−0.690%	$898K	$9K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,501.2	+0.247%	$417K	$35K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,502.7	+0.348%	$1.6M	$4.6M	2.2x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,501.3	+0.256%	$5.3M	—	150x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0038%	1h	1,500.1	+0.177%	$685K	$1.4M	25x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps ZECUSD	+0.0055%	1h	1,491.8	−0.380%	$47K	$64K	10x	as long as short
Orderly PERP_ZEC_USDC	+0.0079%	8h	1,499.3	+0.120%	$302K	$1.1M	20x	as long as short
Popdex ZECUSDTshort	+0.0096%	1h	1,498.5	+0.069%	$171K	$1.8M	50x
Katana Perps ZEC-USD	+0.0098%	8h	1,499	+0.104%	$12K	$878K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,500.2	+0.182%	$3.0M	$7.3M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,498.8	+0.088%	$14.0M	$30.9M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,501	+0.236%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,499.2	+0.112%	$698.5M	$2.31B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,499.1	+0.106%	$268.2M	$633.6M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,499.4	+0.129%	$183.2M	$1.34B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,497.5	+0.001%	$410K	$522K	5x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,499.1	+0.110%	$55.1M	$185.5M	75x	as long as short
MEXC ZEC_USDTlong	+0.0100%	8h	1,497.5	long leg	$248.2M	$793.3M	150x
KuCoin ZECUSDTM	+0.0100%	8h	1,498.8	+0.086%	$103.1M	$57.4M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,499.4	+0.128%	$161.3M	$289.6M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,498.9	+0.096%	—	$116.3M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,485.5	−0.798%	$48.4M	$34.5M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,494.9	−0.172%	$572K	$9.0M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,497.4	−0.005%	$3.1M	$510K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,488.1	−0.625%	$410K	$942K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,500.6	+0.210%	$56K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,498.6	+0.075%	$360K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,498.7	+0.082%	$165K	$184K	20x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,500.9	+0.230%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,499.6	+0.138%	$255K	$3.6M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,499.8	+0.153%	$2.7M	$20.3M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,499	+0.100%	$4.0M	$5.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,501.1	+0.241%	$62K	$43K	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,499.7	+0.149%	$2.8M	$8.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,499.2	+0.118%	$43K	$152K	20x	as long as short
01 Exchange ZECUSD	+0.0120%	1h	1,502.2	+0.317%	$8K	$7K	5x	as long as short
RISEx ZEC/USDC	+0.0129%	1h	1,499.2	+0.115%	$938K	$1.1M	10x	as long as short
Phoenix ZEC	+0.0134%	1h	1,501.5	+0.268%	$4.8M	$1.4M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0153% / S −0.0169%	1h	1,499.4	+0.131%	$485K	—	100x	as long as short
Backpack ZEC_USDC_PERP	+0.0197%	1h	1,503.3	+0.390%	$2.4M	$3.9M	15x	as long as short
Hyperliquid ZEC	+0.0206%	1h	1,499.4	+0.128%	$779.8M	$444.1M	10x	as long as short
Arcus ZEC-USD	+0.0221%	1h	1,500	+0.166%	$613K	$8.7M	10x	as long as short
Lighter RH ZEC	+0.0256%	1h	1,500.6	+0.206%	$2.1M	$7.4M	10x	as long as short
Lighter ZEC	+0.0304%	1h	1,500.8	+0.221%	$19.8M	$46.3M	20x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0480%	1h	1,500.9	+0.226%	$3.7M	$10.1M	50x	as long as short