Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:20 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.042%

Price spread now: edgeX against Perpl−0.171%66s7-day average −0.009% · you buy dearer than you sell

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

Long on Perpl Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.217%+$22 on $10k

Price spread, last 3 days (all we have)−0.232%−$23 · spread now −0.171%, 7d avg −0.009%

Together, before fees−0.015%+ Points / potential airdropPerpl: Active · edgeX: Active · farm board−$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.163% cheaper against Perpl than usual: you would sell low and buy high (spread −0.171% now, against its 7-day average of −0.009%). If the spread goes back, that is −$16 on $10k: about 5.4 days of funding at the current rate (+$3 a day). The two prices were read 66 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Perpl ZEC	1,464.5	0	get 0.0000% / 43m	28m 27s	$83K	$401K	10x
Short	edgeX ZECUSDC	1,462	0.0100	get 0.0050% / 4h	1h 58m	$509K	$9.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Perpl. 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 PerplbpFee edgeXbpOrdersPrice spread, now −0.171%Rate

Funding earned: $21
Price spread: −0.171% → −0.009%: −$16.26
Slippage, 4 orders: no order book: not counted
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$18.06
Costs to cover: 0.228%
Break-even: 13.0 days

Slippage unknown: Perpl: no order-book sample; edgeX: live order book, 1 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 Perpl no order-book sample	—	—	—	—	—
Sell edgeX live order book, 1 min ago	0.44 bp	5.0 bp −$5	9.9 bp −$99	doesn't fit	doesn't fit

Perpl: 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 PERP	−0.3310%	1h	1,446.2	−1.254%	$33K	$275K	12x	as long as short
Kraken Futures PF_ZECUSD	−0.0405%	1h	1,464.7	+0.009%	$17.8M	$44.9M	25x	as long as short
BloFin ZEC-USDT	−0.0089%	8h	1,464.7	+0.013%	$29.1M	$75.8M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,462.7	−0.126%	$6K	$2K	10x	as long as short
Bybit ZECUSDT	−0.0042%	8h	1,463.8	−0.047%	$270.9M	$679.8M	75x	as long as short
Ondo Perps ZEC-USD.P	−0.0039%	1h	1,462.3	−0.152%	$396K	$517K	5x	as long as short
Variational Omni ZEC	−0.0018%	8h	1,461.1	−0.231%	$46.6M	$34.3M	—	as long as short
dYdX ZEC-USD	0.0000%	1h	1,464.8	+0.016%	$412K	$106K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,465.2	+0.046%	$939K	$5.6M	2.2x	as long as short
Perpl ZEClong	0.0000%	43m	1,464.5	long leg	$83K	$401K	10x

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit ZEC_USDC-PERPETUAL	0.0000%	1h	1,465.8	+0.090%	$596K	$1.3M	25x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,465.4	+0.061%	$5.2M	—	150x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0011% / S +0.0077%	1h	1,465.3	+0.055%	$560K	—	100x	as long as short
Orderly PERP_ZEC_USDC	+0.0014%	8h	1,464.9	+0.029%	$294K	$1.5M	20x	as long as short
OKX ZEC-USDT-SWAP	+0.0055%	8h	1,464.6	+0.008%	$175.3M	$1.37B	50x	as long as short
Gate ZEC_USDT	+0.0058%	8h	1,465.1	+0.038%	$50.1M	$182.8M	75x	as long as short
01 Exchange ZECUSD	+0.0072%	1h	1,465.6	+0.076%	$8K	$8K	5x	as long as short
Katana Perps ZEC-USD	+0.0096%	8h	1,465.5	+0.068%	$14K	$865K	10x	as long as short
Lighter ZEC	+0.0096%	1h	1,466.8	+0.159%	$18.9M	$52.2M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,465	+0.034%	$174K	$2.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,465.1	+0.039%	$60K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,465.7	+0.083%	$2.5M	$7.1M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,465.7	+0.081%	$760.1M	$495.4M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,465.2	+0.045%	$15.4M	$33.8M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,465.7	+0.080%	$1.7M	$3.1M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,465	+0.033%	$670.1M	$2.53B	75x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,460.8	−0.255%	$899K	$25K	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,465.4	+0.059%	$224.4M	$847.3M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,465.3	+0.051%	$103.5M	$57.1M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,464.6	+0.008%	$162.1M	$311.3M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,464.8	+0.022%	—	$102.2M	—	as long as short
edgeX ZECUSDCshort	+0.0100%	4h	1,462	−0.171%	$509K	$9.5M	20x
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,462.6	−0.132%	$3.0M	$492K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,462.4	−0.148%	$429K	$817K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,465.8	+0.088%	$110K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,464.8	+0.019%	$344K	$2.0M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,464.9	+0.025%	$128K	$160K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,463.6	−0.063%	$447K	$498K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,467.3	+0.191%	$3K	$1.3M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,465.1	+0.037%	$222K	$4.7M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,465	+0.032%	$2.4M	$24.6M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,464.7	+0.012%	$3.8M	$5.4M	50x	as long as short
Phoenix ZEC	+0.0103%	1h	1,461.8	−0.188%	$4.6M	$1.5M	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,465.5	+0.067%	$3.2M	$7.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,465.2	+0.046%	$37K	$362K	20x	as long as short
RISEx ZEC/USDC	+0.0190%	1h	1,465.7	+0.079%	$844K	$1.8M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0411%	1h	1,466.3	+0.120%	$2.3M	$4.1M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0424%	1h	1,467.3	+0.192%	$3.7M	$11.7M	50x	as long as short
Arcus ZEC-USD	+0.0444%	1h	1,465.5	+0.068%	$738K	$8.0M	10x	as long as short
Lighter RH ZEC	+0.0448%	1h	1,467.4	+0.197%	$2.0M	$8.2M	10x	as long as short
Aftermath Perps ZECUSD	+0.0506%	1h	1,462.6	−0.133%	$40K	$34K	10x	as long as short