Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.019%

Price spread now: dYdX against BingX−0.169%7-day average −0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$113as in the Price arb table

costs, in and out, $10k−$960.964% of the position

Long on BingX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.244%+$24 on $10k

Price spread, last 4 days (all we have)+0.143%+$14 · spread now −0.169%, 7d avg −0.005%

Together, before fees+0.387%+$39 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 dYdX is 0.165% cheaper against BingX than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of −0.005%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.244%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ZEC-USDT	1,471.1	0.0100	pay 0.0100% / 8h	7h 33m	—	$100.3M	—
Short	dYdX ZEC-USD	1,468.6	0	get 0.0000% / 1h	33m 04s	$414K	$104K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against BingX. 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 BingXbpFee dYdXbpOrdersPrice spread, now −0.169%Rate

Funding earned: −$21
Price spread: −0.169% → −0.005%: −$16.46
Slippage, 4 orders: −$76.43
Fee BingX: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$133.89
Costs to cover: 0.964%
Break-even: never at this rate

Slippage from BingX: live order book, 6 min ago; dYdX: live order book, 41 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 BingX live order book, 6 min ago	0.10 bp	5.9 bp −$6	8.2 bp −$82	14.4 bp −$1,438	24.8 bp −$12.4K
Sell dYdX live order book, 41 min ago	36.13 bp	43.2 bp −$43	54.7 bp −$547	226.8 bp −$22.7K	663.6 bp −$331.8K

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	−0.3321%	1h	1,470.2	−0.058%	$34K	$275K	12x	as long as short
Kraken Futures PF_ZECUSD	−0.0343%	1h	1,469.9	−0.078%	$17.9M	$43.0M	25x	as long as short
Ondo Perps ZEC-USD.P	−0.0146%	1h	1,468	−0.207%	$399K	$518K	5x	as long as short
BloFin ZEC-USDT	−0.0102%	8h	1,470.4	−0.044%	$29.8M	$73.2M	75x	as long as short
Bybit ZECUSDT	−0.0087%	8h	1,471.1	+0.002%	$274.3M	$636.0M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,469.3	−0.122%	$6K	$2K	10x	as long as short
Variational Omni ZEC	−0.0056%	8h	1,468.2	−0.195%	$47.6M	$34.2M	—	as long as short
dYdX ZEC-USDshort	0.0000%	1h	1,468.6	−0.169%	$414K	$104K	5x
Kalshi KXZECPERP	0.0000%	8h	1,469.9	−0.075%	$957K	$5.2M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,469	−0.140%	$83K	$405K	10x	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	1,469.8	−0.082%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0015%	8h	1,469.7	−0.092%	$293K	$1.4M	20x	as long as short
01 Exchange ZECUSD	+0.0032%	1h	1,469	−0.137%	$8K	$8K	5x	as long as short
OKX ZEC-USDT-SWAP	+0.0046%	8h	1,471.3	+0.014%	$182.0M	$1.30B	50x	as long as short
Phoenix ZEC	+0.0054%	1h	1,470.8	−0.018%	$4.7M	$1.6M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0055% / S −0.0010%	1h	1,469.7	−0.093%	$378K	—	100x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,469.7	−0.090%	$176K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,469.7	−0.090%	$14K	$832K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,469.1	−0.133%	$60K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,470	−0.073%	$2.6M	$6.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,472.2	+0.078%	$763.5M	$454.9M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,470.2	−0.055%	$14.9M	$31.9M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,469.4	−0.113%	$1.7M	$2.8M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,471.2	+0.012%	$684.6M	$2.38B	75x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,470.8	−0.018%	$699K	$8.5M	10x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,471	−0.004%	$895K	$25K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,470.9	−0.010%	$51.3M	$179.1M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,470.3	−0.050%	$231.5M	$825.2M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,469.9	−0.076%	$104.9M	$55.8M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,471.3	+0.020%	$163.7M	$293.6M	75x	as long as short
BingX ZEC-USDTlong	+0.0100%	8h	1,471.1	long leg	—	$100.3M	—
edgeX ZECUSDC	+0.0100%	4h	1,468.4	−0.179%	$571K	$9.2M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,468.3	−0.186%	$3.0M	$466K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,470	−0.075%	$430K	$860K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,468.9	−0.145%	$110K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,469.3	−0.119%	$333K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,469.4	−0.115%	$128K	$159K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,467.9	−0.213%	$458K	$509K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,471.6	+0.034%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,469.7	−0.091%	$242K	$4.0M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,470.2	−0.061%	$2.5M	$21.4M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,470.8	−0.018%	$3.9M	$5.3M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,469.9	−0.079%	$3.2M	$7.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,469.9	−0.081%	$56K	$167K	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0166%	1h	1,470.6	−0.033%	$605K	$1.3M	25x	as long as short
Lighter ZEC	+0.0192%	1h	1,471.3	+0.016%	$19.2M	$50.4M	20x	as long as short
RISEx ZEC/USDC	+0.0228%	1h	1,470.1	−0.066%	$850K	$1.1M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0448%	1h	1,471.8	+0.054%	$3.8M	$10.1M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0523%	1h	1,471.5	+0.029%	$2.5M	$3.8M	15x	as long as short
Aftermath Perps ZECUSD	+0.0771%	1h	1,470.9	−0.009%	$44K	$47K	10x	as long as short
Lighter RH ZEC	+0.0784%	1h	1,472.4	+0.094%	$2.0M	$8.1M	10x	as long as short