Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.3410%/8h= −373.4% APRpaid last 24h −0.417%

Price spread now: Injective against Binance−0.321%77s7-day average +0.094% · you buy dearer than you sell

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

Long on Binance Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−2.054%−$205 on $10k

Price spread, last 3 days (all we have)+1.077%+$108 · spread now −0.321%, 7d avg +0.094%

Together, before fees−0.977%−$98 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$102 a day on $10k at the current rate, and Injective is 0.416% cheaper against Binance than usual: you would sell low and buy high (−$42 if the spread goes back to its 7-day average of +0.094%). Swap the legs. The two prices were read 77 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -2.054% in total (about -107.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ZECUSDT	1,468.3	0.0100	pay 0.0100% / 8h	1h 26m	$676.5M	$2.48B	75x
Short	Injective ZEC/USDC PERP	1,463.6	−0.3310	pay 0.0414% / 1h	26m 06s	$34K	$275K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Binance. 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 BinancebpFee InjectivebpOrdersPrice spread, now −0.321%Rate

Funding earned: −$716.04
Price spread: −0.321% → +0.094%: −$41.56
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$767.62
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 3 min ago; Injective: live order book, 58 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 Binance live order book, 3 min ago	0.03 bp	5.2 bp −$5	7.5 bp −$75	15.6 bp −$1,560	doesn't fit
Sell Injective live order book, 58 min ago	50.93 bp	doesn't fit	doesn't fit	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 PERPshort	−0.3310%	1h	1,463.6	−0.321%	$34K	$275K	12x
Kraken Futures PF_ZECUSD	−0.0404%	1h	1,467.8	−0.037%	$17.9M	$44.7M	25x	as long as short
Ondo Perps ZEC-USD.P	−0.0216%	1h	1,462	−0.430%	$397K	$514K	5x	as long as short
BloFin ZEC-USDT	−0.0097%	8h	1,466.4	−0.130%	$29.3M	$75.5M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,466.2	−0.146%	$6K	$2K	10x	as long as short
Bulk ZEC-USD	−0.0065%	1h	1,462.1	−0.424%	$902K	$27K	10x	as long as short
Bybit ZECUSDT	−0.0056%	8h	1,467.2	−0.076%	$272.0M	$667.4M	75x	as long as short
Variational Omni ZEC	−0.0026%	8h	1,463	−0.366%	$46.5M	$33.7M	—	as long as short
dYdX ZEC-USD	0.0000%	1h	1,466.6	−0.118%	$413K	$104K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,467.3	−0.071%	$887K	$5.6M	2.2x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl ZEC	0.0000%	43m	1,467.2	−0.078%	$83K	$404K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,467.6	−0.047%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0013%	8h	1,467.4	−0.066%	$293K	$1.4M	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0037% / S +0.0009%	1h	1,467.6	−0.051%	$356K	—	100x	as long as short
Gate ZEC_USDT	+0.0051%	8h	1,468	−0.025%	$50.0M	$185.8M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0052%	8h	1,467.7	−0.046%	$177.0M	$1.35B	50x	as long as short
01 Exchange ZECUSD	+0.0064%	1h	1,467.5	−0.059%	$8K	$8K	5x	as long as short
ApeX Omni ZECUSDT	+0.0070%	1h	1,463.9	−0.302%	$430K	$821K	50x	as long as short
Phoenix ZEC	+0.0075%	1h	1,464.5	−0.262%	$4.6M	$1.6M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,467.3	−0.069%	$174K	$1.9M	50x	as long as short
Katana Perps ZEC-USD	+0.0096%	8h	1,467.7	−0.039%	$14K	$832K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,466.6	−0.120%	$60K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,466.9	−0.097%	$2.5M	$6.8M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,469.1	+0.053%	$761.7M	$485.2M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,468.3	−0.001%	$15.6M	$32.8M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,466.9	−0.098%	$1.7M	$3.0M	10x	as long as short
Binance ZECUSDTlong	+0.0100%	8h	1,468.3	long leg	$676.5M	$2.48B	75x
MEXC ZEC_USDT	+0.0100%	8h	1,468.5	+0.009%	$223.4M	$864.3M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,468	−0.020%	$103.9M	$55.8M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,467.7	−0.045%	$162.8M	$305.0M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,467.8	−0.038%	—	$103.1M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,463.1	−0.358%	$510K	$9.5M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,463.2	−0.350%	$3.0M	$481K	10x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,465.8	−0.172%	$110K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,467.4	−0.063%	$344K	$1.9M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,467.3	−0.072%	$128K	$160K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,466	−0.161%	$448K	$502K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,469	+0.043%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,467.5	−0.059%	$223K	$4.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,466.2	−0.144%	$2.5M	$23.9M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,468.4	+0.003%	$3.8M	$5.3M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,467.8	−0.038%	$3.3M	$6.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,467.4	−0.063%	$37K	$366K	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0104%	1h	1,468.2	−0.005%	$597K	$1.3M	25x	as long as short
Lighter ZEC	+0.0152%	1h	1,470	+0.112%	$19.0M	$52.6M	20x	as long as short
RISEx ZEC/USDC	+0.0190%	1h	1,467.2	−0.079%	$844K	$1.3M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0193%	1h	1,468.8	+0.031%	$2.4M	$3.8M	15x	as long as short
Lighter RH ZEC	+0.0400%	1h	1,470.4	+0.143%	$2.0M	$8.3M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0424%	1h	1,468.7	+0.025%	$3.7M	$11.6M	50x	as long as short
Arcus ZEC-USD	+0.0444%	1h	1,467.6	−0.050%	$726K	$8.2M	10x	as long as short
Aftermath Perps ZECUSD	+0.0564%	1h	1,465.3	−0.207%	$41K	$34K	10x	as long as short