Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.3420%/8h= −374.5% APRpaid last 24h −0.501%

Price spread now: Injective against Paradex+0.169%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

The price spread pays, funding is against you. Injective is 0.169% dearer against Paradex than usual: you sell high and buy low (spread +0.169% now, against zero (this spread has no 7-day history yet)): +$17 on $10k if it goes back. Holding the pair costs −$103 a day in funding at the current rate, which eats that in about 4 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex ZEC-USD-PERP	1,469.3	0.0100	pay 0.0100% / 8h	7h 25m	$61K	$39K	10x
Short	Injective ZEC/USDC PERP	1,471.8	−0.3321	pay 0.0415% / 1h	25m 49s	$34K	$275K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Paradex. 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 ParadexbpFee InjectivebpOrdersPrice spread, now +0.169%Rate

Funding earned: −$718.27
Price spread: +0.169% → 0.000%: $16.91
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$705.39
Costs to cover: 0.040%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; Injective: live order book, 48 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 Paradex no order-book sample	—	—	—	—	—
Sell Injective live order book, 48 min ago	61.95 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

Paradex: 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 PERPshort	−0.3321%	1h	1,471.8	+0.169%	$34K	$275K	12x
Kraken Futures PF_ZECUSD	−0.0343%	1h	1,468.9	−0.024%	$17.8M	$43.0M	25x	as long as short
Ondo Perps ZEC-USD.P	−0.0110%	1h	1,466.9	−0.163%	$399K	$517K	5x	as long as short
BloFin ZEC-USDT	−0.0109%	8h	1,469.8	+0.036%	$29.7M	$73.0M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,469.3	+0.003%	$6K	$2K	10x	as long as short
Variational Omni ZEC	−0.0047%	8h	1,468.5	−0.055%	$47.6M	$33.8M	—	as long as short
dYdX ZEC-USD	0.0000%	1h	1,469.1	−0.016%	$414K	$103K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,469.6	+0.023%	$959K	$5.2M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,469.2	−0.004%	$83K	$405K	10x	as long as short
Bybit ZECUSDT	+0.0006%	8h	1,468.5	−0.054%	$273.6M	$633.6M	75x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,469.2	−0.010%	$5.2M	—	150x	as long as short
01 Exchange ZECUSD	+0.0008%	1h	1,469	−0.019%	$8K	$8K	5x	as long as short
Orderly PERP_ZEC_USDC	+0.0015%	8h	1,468.8	−0.036%	$293K	$1.2M	20x	as long as short
OKX ZEC-USDT-SWAP	+0.0052%	8h	1,468.5	−0.053%	$181.8M	$1.30B	50x	as long as short
Phoenix ZEC	+0.0054%	1h	1,473.1	+0.262%	$4.7M	$1.6M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0054% / S −0.0010%	1h	1,469.2	−0.007%	$378K	—	100x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,469	−0.019%	$173K	$1.9M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,468.9	−0.028%	$20K	$838K	10x	as long as short
Paradex ZEC-USD-PERPlong	+0.0100%	8h	1,469.3	long leg	$61K	$39K	10x
Nado ZEC-PERP	+0.0100%	1h	1,469.2	−0.009%	$2.6M	$6.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,470	+0.048%	$762.3M	$455.2M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,468.8	−0.032%	$14.9M	$31.7M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,469.2	−0.007%	$1.7M	$2.8M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,468.9	−0.024%	$683.9M	$2.37B	75x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,470.8	+0.105%	$700K	$8.5M	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,468.9	−0.028%	$51.2M	$179.4M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,469.1	−0.017%	$230.8M	$826.7M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,468.7	−0.038%	$104.6M	$55.6M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,468.9	−0.030%	$163.5M	$292.5M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,469.2	−0.010%	—	$100.2M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,470.8	+0.105%	$572K	$9.1M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,470.9	+0.111%	$3.0M	$454K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,470.1	+0.053%	$430K	$868K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,470.6	+0.085%	$110K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,468.9	−0.027%	$340K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,468.9	−0.024%	$128K	$159K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,467.2	−0.144%	$457K	$509K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,471	+0.115%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,468.7	−0.038%	$242K	$3.9M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,469	−0.020%	$2.5M	$21.2M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,469.5	+0.011%	$3.9M	$5.3M	50x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,471.7	+0.164%	$895K	$24K	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,469.1	−0.011%	$3.2M	$7.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,468.9	−0.029%	$54K	$168K	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0124%	1h	1,469.6	+0.022%	$604K	$1.3M	25x	as long as short
Lighter ZEC	+0.0200%	1h	1,470.4	+0.077%	$19.2M	$50.4M	20x	as long as short
RISEx ZEC/USDC	+0.0228%	1h	1,469.8	+0.032%	$852K	$1.1M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0448%	1h	1,471.3	+0.135%	$3.8M	$10.1M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0536%	1h	1,469.6	+0.020%	$2.5M	$3.9M	15x	as long as short
Aftermath Perps ZECUSD	+0.0768%	1h	1,470.5	+0.082%	$43K	$46K	10x	as long as short
Lighter RH ZEC	+0.0784%	1h	1,471	+0.116%	$2.0M	$8.1M	10x	as long as short