Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.3219%/8h= −352.5% APRpaid last 24h −0.441%

Price spread now: Injective against BloFin+0.171%7-day average +0.073% · you sell dearer than you buy

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

Long on BloFin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−1.974%−$197 on $10k

Price spread, last 3 days (all we have)−0.408%−$41 · spread now +0.171%, 7d avg +0.073%

Together, before fees−2.382%−$238 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 0.098% dearer against BloFin than usual: you sell high and buy low (spread +0.171% now, against its 7-day average of +0.073%): +$10 on $10k if it goes back. Holding the pair costs −$97 a day in funding at the current rate, which eats that in about 2 hours. At the pace of the last 7 days (−1.974% in total) that is about 8 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -1.974% in total (about -102.9% 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	BloFin ZEC-USDT	1,469.7	−0.0102	get 0.0102% / 8h	7h 30m	$29.7M	$73.1M	75x
Short	Injective ZEC/USDC PERP	1,472.2	−0.3321	pay 0.0415% / 1h	30m 03s	$34K	$275K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BloFin. 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 BloFinbpFee InjectivebpOrdersPrice spread, now +0.171%Rate

Funding earned: −$675.98
Price spread: +0.171% → +0.073%: $9.75
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$678.25
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 4 min ago; Injective: live order book, 44 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 BloFin live order book, 4 min ago	0.07 bp	6.1 bp −$6	7.3 bp −$73	13.9 bp −$1,394	doesn't fit
Sell Injective live order book, 44 min ago	61.95 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	−0.3321%	1h	1,472.2	+0.171%	$34K	$275K	12x
Kraken Futures PF_ZECUSD	−0.0342%	1h	1,471.7	+0.136%	$17.9M	$42.9M	25x	as long as short
Ondo Perps ZEC-USD.P	−0.0119%	1h	1,467.9	−0.120%	$399K	$518K	5x	as long as short
BloFin ZEC-USDTlong	−0.0102%	8h	1,469.7	long leg	$29.7M	$73.1M	75x
Hotstuff ZEC-PERP	−0.0080%	1h	1,470.3	+0.042%	$6K	$2K	10x	as long as short
Bybit ZECUSDT	−0.0062%	8h	1,471.8	+0.148%	$274.5M	$634.2M	75x	as long as short
Variational Omni ZEC	−0.0053%	8h	1,469	−0.042%	$47.6M	$33.8M	—	as long as short
dYdX ZEC-USD	0.0000%	1h	1,469.9	+0.016%	$414K	$103K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,470.7	+0.071%	$959K	$5.2M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,469.7	+0.002%	$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	1,470.3	+0.044%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0015%	8h	1,470.7	+0.071%	$294K	$1.3M	20x	as long as short
01 Exchange ZECUSD	+0.0024%	1h	1,470.3	+0.039%	$8K	$8K	5x	as long as short
OKX ZEC-USDT-SWAP	+0.0049%	8h	1,471.7	+0.137%	$182.0M	$1.30B	50x	as long as short
Phoenix ZEC	+0.0054%	1h	1,470.8	+0.076%	$4.7M	$1.6M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0055% / S −0.0010%	1h	1,470.3	+0.045%	$378K	—	100x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,469.8	+0.012%	$179K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,470.1	+0.026%	$14K	$832K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,470.2	+0.038%	$60K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,470.6	+0.060%	$2.6M	$6.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,472.8	+0.213%	$763.8M	$455.1M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,471.3	+0.113%	$14.9M	$31.8M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,470.5	+0.058%	$1.7M	$2.8M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,471.9	+0.149%	$685.3M	$2.38B	75x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,471.6	+0.132%	$699K	$8.5M	10x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,471	+0.089%	$895K	$25K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,471.5	+0.124%	$51.3M	$179.2M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,471.8	+0.146%	$231.9M	$825.5M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,470.7	+0.073%	$104.8M	$55.7M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,471.9	+0.152%	$163.8M	$292.9M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,471	+0.091%	—	$100.3M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,468.4	−0.085%	$571K	$9.2M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,468.3	−0.093%	$3.0M	$466K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,469.9	+0.014%	$430K	$866K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,470.6	+0.063%	$110K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,470	+0.022%	$340K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,470.3	+0.044%	$128K	$159K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,468.9	−0.053%	$458K	$509K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,472.4	+0.183%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,471.3	+0.108%	$242K	$3.9M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,470.6	+0.061%	$2.5M	$21.3M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,472	+0.161%	$3.9M	$5.3M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,471.9	+0.153%	$3.2M	$7.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,470.4	+0.047%	$56K	$167K	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0190%	1h	1,471.3	+0.113%	$605K	$1.3M	25x	as long as short
Lighter ZEC	+0.0200%	1h	1,473.1	+0.232%	$19.2M	$50.4M	20x	as long as short
RISEx ZEC/USDC	+0.0228%	1h	1,470.8	+0.074%	$852K	$1.1M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0448%	1h	1,473	+0.223%	$3.8M	$10.1M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0527%	1h	1,472.4	+0.188%	$2.5M	$3.8M	15x	as long as short
Aftermath Perps ZECUSD	+0.0772%	1h	1,471.3	+0.114%	$44K	$47K	10x	as long as short
Lighter RH ZEC	+0.0800%	1h	1,474	+0.295%	$2.0M	$8.1M	10x	as long as short