Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0372%/8h= +40.7% APRpaid last 24h +0.116%

Price spread now: Coinbase International against Bybit+0.106%7-day average +0.142% · you sell dearer than you buy

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$400.402% of the position

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.005%$0 on $10k

Price spread, last 3 days (all we have)+0.151%+$15 · spread now +0.106%, 7d avg +0.142%

Together, before fees+0.147%+$15 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.036% cheaper against Bybit than usual: you would sell low and buy high (spread +0.106% now, against its 7-day average of +0.142%). If the spread goes back, that is −$4 on $10k: about 8 hours of funding at the current rate (+$11 a day).

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.005% in total (about -0.3% 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	Bybit ZECUSDT	1,474.5	0.0100	pay 0.0100% / 8h	6h 46m	$272.1M	$626.1M	75x
Short	Coinbase International ZEC-PERP-INTX	1,476.1	0.0472	get 0.0059% / 1h	46m 36s	$3.7M	$9.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bybit. 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 BybitbpFee Coinbase InternationalbpOrdersPrice spread, now +0.106%Rate

Funding earned: $78.12
Price spread: +0.106% → +0.142%: −$3.65
Slippage, 4 orders: −$19.24
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $34.24
Costs to cover: 0.402%
Break-even: 3.9 days

Slippage from Bybit: live order book, 3 min ago; Coinbase International: live order book, 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 Bybit live order book, 3 min ago	0.03 bp	5.6 bp −$6	8.2 bp −$82	15.2 bp −$1,516	32.8 bp −$16.4K
Sell Coinbase International live order book, 2 min ago	1.18 bp	12.8 bp −$13	17.8 bp −$178	43.6 bp −$4,364	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	−0.3678%	1h	1,477.5	+0.204%	$34K	$274K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,474.6	+0.004%	$6K	$1K	10x	as long as short
Ondo Perps ZEC-USD.P	−0.0078%	1h	1,477.6	+0.209%	$400K	$519K	5x	as long as short
Kraken Futures PF_ZECUSD	−0.0002%	1h	1,474.7	+0.012%	$18.0M	$43.4M	25x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,475.2	+0.049%	$415K	$103K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,474.7	+0.013%	$960K	$5.0M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,474.4	−0.005%	$84K	$405K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,475.3	+0.053%	$5.2M	—	150x	as long as short
Variational Omni ZEC	+0.0010%	8h	1,477.5	+0.204%	$48.2M	$33.5M	—	as long as short
BloFin ZEC-USDT	+0.0012%	8h	1,475.2	+0.046%	$29.6M	$73.3M	75x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_ZEC_USDC	+0.0026%	8h	1,474.1	−0.032%	$294K	$1.1M	20x	as long as short
01 Exchange ZECUSD	+0.0032%	1h	1,474.5	−0.002%	$8K	$9K	5x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0055% / S −0.0010%	1h	1,474.6	+0.005%	$383K	—	100x	as long as short
Phoenix ZEC	+0.0070%	1h	1,479.5	+0.336%	$4.7M	$1.5M	10x	as long as short
Gate ZEC_USDT	+0.0079%	8h	1,474.4	−0.008%	$50.2M	$174.1M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0079%	8h	1,474.6	+0.002%	$181.3M	$1.29B	50x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,474.9	+0.025%	$172K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,474.8	+0.016%	$14K	$832K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,474.8	+0.020%	$61K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,476	+0.104%	$2.7M	$6.5M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,475.3	+0.053%	$768.0M	$449.6M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,475.3	+0.054%	$14.9M	$31.0M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,475.3	+0.050%	$1.7M	$2.7M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,474.6	+0.006%	$683.3M	$2.34B	75x	as long as short
Bybit ZECUSDTlong	+0.0100%	8h	1,474.5	long leg	$272.1M	$626.1M	75x
MEXC ZEC_USDT	+0.0100%	8h	1,474.8	+0.018%	$218.8M	$792.6M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,475.5	+0.066%	$103.9M	$56.0M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,474.5	−0.001%	$163.5M	$286.5M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,473.7	−0.053%	—	$6.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,476.7	+0.150%	$575K	$9.0M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,476	+0.098%	$3.0M	$443K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,475.5	+0.069%	$429K	$905K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,474.2	−0.020%	$71K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,474.3	−0.015%	$342K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,474.5	+0.001%	$128K	$158K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,472.7	−0.124%	$459K	$510K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,476.4	+0.129%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,474.7	+0.012%	$243K	$3.8M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,474	−0.039%	$2.5M	$19.2M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,475.1	+0.039%	$3.8M	$5.2M	50x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,474.6	+0.009%	$897K	$17K	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,474.2	−0.020%	$3.2M	$7.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,474	−0.038%	$51K	$164K	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0179%	1h	1,475.1	+0.040%	$607K	$1.3M	25x	as long as short
Lighter RH ZEC	+0.0216%	1h	1,477.1	+0.176%	$2.1M	$7.0M	10x	as long as short
Arcus ZEC-USD	+0.0254%	1h	1,476	+0.101%	$682K	$8.7M	10x	as long as short
Lighter ZEC	+0.0328%	1h	1,476.2	+0.112%	$19.3M	$48.0M	20x	as long as short
RISEx ZEC/USDC	+0.0374%	1h	1,475.1	+0.040%	$856K	$1.0M	10x	as long as short
Coinbase International ZEC-PERP-INTXshort	+0.0472%	1h	1,476.1	+0.106%	$3.7M	$9.7M	50x
Backpack ZEC_USDC_PERP	+0.0556%	1h	1,475.9	+0.092%	$2.5M	$3.9M	15x	as long as short
Aftermath Perps ZECUSD	+0.0743%	1h	1,475.5	+0.069%	$44K	$46K	10x	as long as short