Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0094%/8h= −10.3% APRpaid last 24h −0.028%

Price spread now: gTrade (Gains Network) against Phemex−0.065%7-day average −0.019% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$310as in the Price arb table

costs, in and out, $10k−$3063.059% of the position

Long on Phemex Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.055%−$6 on $10k

Price spread, last 4 days (all we have)−0.478%−$48 · spread now −0.065%, 7d avg −0.019%

Together, before fees−0.533%−$53 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.046% cheaper against Phemex than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.019%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex ZECUSDT	1,455.8	0.0100	pay 0.0100% / 8h	5h 26m	$3.8M	$5.1M	50x
Short	gTrade (Gains Network) ZEC/USD	1,454.9	L +0.0007% / S −0.0006%	get 0.0001% / 1h	26m 43s	$5.2M	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Phemex. 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 PhemexbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.065%Rate

Funding earned: −$19.68
Price spread: −0.065% → −0.019%: −$4.59
Slippage, 4 orders: −$283.88
Fee Phemex: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$330.15
Costs to cover: 3.059%
Break-even: never at this rate

Slippage from Phemex: live order book, 2 min ago; gTrade (Gains Network): virtual book (oracle venue), 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 Phemex live order book, 2 min ago	1.89 bp	13.3 bp −$13	25.3 bp −$253	doesn't fit	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 2 min ago	130.04 bp	135.0 bp −$135	584.7 bp −$5,847	doesn't fit	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	−0.3244%	1h	1,457.3	+0.098%	$34K	$272K	12x	as long as short
BloFin ZEC-USDT	−0.0083%	8h	1,455.2	−0.045%	$29.1M	$70.9M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,457.1	+0.084%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,454.5	−0.093%	$410K	$43K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,456.1	+0.018%	$1.5M	$5.1M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,455.2	−0.047%	$83K	$243K	10x	as long as short
gTrade (Gains Network) ZEC/USDshort	L +0.0007% / S −0.0006%	1h	1,454.9	−0.065%	$5.2M	—	150x
Orderly PERP_ZEC_USDC	+0.0045%	8h	1,455.1	−0.054%	$291K	$979K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0061% / S −0.0011%	1h	1,454.7	−0.078%	$408K	—	100x	as long as short
Phoenix ZEC	+0.0074%	1h	1,459.6	+0.256%	$4.6M	$1.4M	10x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni ZECUSDT	+0.0094%	1h	1,456.7	+0.058%	$410K	$911K	50x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,455.3	−0.036%	$173K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,456.2	+0.025%	$23K	$869K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,454.9	−0.063%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,455.4	−0.029%	$2.6M	$6.5M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,456.6	+0.052%	$762.3M	$438.9M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,454.2	−0.112%	$14.4M	$28.3M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,454.8	−0.072%	$1.7M	$2.6M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,454.4	−0.097%	$666.2M	$2.26B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,454.6	−0.082%	$265.7M	$611.0M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,454.9	−0.064%	$178.4M	$1.23B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,454.2	−0.113%	$395K	$431K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,451.2	−0.317%	$879K	$21K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,454.2	−0.111%	$49.5M	$173.8M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,454.8	−0.075%	$213.3M	$776.9M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,454.2	−0.115%	$101.8M	$56.1M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,454.8	−0.069%	$161.6M	$274.1M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,453.8	−0.143%	—	$6.7M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,455.4	−0.027%	$2.4M	$3.8M	15x	as long as short
Variational Omni ZEC	+0.0100%	8h	1,454.2	−0.111%	$47.0M	$32.4M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,457	+0.081%	$567K	$8.7M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,456.5	+0.044%	$3.0M	$432K	10x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,457.2	+0.093%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,454.8	−0.071%	$331K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,455.2	−0.044%	$160K	$185K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,453.6	−0.154%	$444K	$521K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,458	+0.146%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,455.2	−0.043%	$232K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,454.6	−0.088%	$2.6M	$18.4M	75x	as long as short
Phemex ZECUSDTlong	+0.0100%	8h	1,455.8	long leg	$3.8M	$5.1M	50x
Extended ZEC-USD	+0.0104%	1h	1,454.2	−0.116%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,455	−0.055%	$47K	$153K	20x	as long as short
01 Exchange ZECUSD	+0.0136%	1h	1,455.9	+0.006%	$8K	$7K	5x	as long as short
Lighter ZEC	+0.0192%	1h	1,456.1	+0.016%	$19.0M	$46.6M	20x	as long as short
Kraken Futures PF_ZECUSD	+0.0196%	1h	1,455.2	−0.044%	$18.0M	$44.6M	25x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0224%	1h	1,455.5	−0.021%	$612K	$1.3M	25x	as long as short
Arcus ZEC-USD	+0.0277%	1h	1,456.5	+0.045%	$712K	$8.5M	10x	as long as short
Lighter RH ZEC	+0.0352%	1h	1,456.4	+0.038%	$2.0M	$6.9M	10x	as long as short
RISEx ZEC/USDC	+0.0409%	1h	1,455.2	−0.043%	$832K	$1.0M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0456%	1h	1,456.9	+0.074%	$3.7M	$9.1M	50x	as long as short
Aftermath Perps ZECUSD	+0.0693%	1h	1,455.9	+0.005%	$45K	$49K	10x	as long as short