Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0332%/8h= −36.4% APRpaid last 24h −0.091%

Price spread now: Bitget against Coinbase International−0.167%7-day average −0.134% · you buy dearer than you sell

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$360.357% of the position

Long on Coinbase International Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.249%−$25 on $10k

Price spread, last 3 days (all we have)−0.458%−$46 · spread now −0.167%, 7d avg −0.134%

Together, before fees−0.707%−$71 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Bitget is 0.033% cheaper against Coinbase International than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.134%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ZEC-PERP-INTX	1,474.9	0.0432	pay 0.0054% / 1h	51m 01s	$3.8M	$11.0M	50x
Short	Bitget ZECUSDT	1,472.5	0.0100	get 0.0100% / 8h	51m 01s	$162.7M	$303.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Coinbase International. 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 Coinbase InternationalbpFee BitgetbpOrdersPrice spread, now −0.167%Rate

Funding earned: −$69.72
Price spread: −0.167% → −0.134%: −$3.3
Slippage, 4 orders: −$13.72
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$108.74
Costs to cover: 0.357%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 3 min ago; Bitget: live order book, 3 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 Coinbase International live order book, 3 min ago	1.90 bp	9.7 bp −$10	16.6 bp −$166	48.0 bp −$4,801	doesn't fit
Sell Bitget live order book, 3 min ago	0.03 bp	6.9 bp −$7	11.7 bp −$117	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	−0.3089%	1h	1,473.9	−0.068%	$34K	$275K	12x	as long as short
Ondo Perps ZEC-USD.P	−0.0311%	1h	1,471.3	−0.246%	$399K	$516K	5x	as long as short
ApeX Omni ZECUSDT	−0.0243%	1h	1,474.7	−0.018%	$432K	$828K	50x	as long as short
Kraken Futures PF_ZECUSD	−0.0225%	1h	1,472.7	−0.151%	$17.9M	$44.6M	25x	as long as short
BloFin ZEC-USDT	−0.0111%	8h	1,472.4	−0.171%	$29.4M	$75.5M	75x	as long as short
Bybit ZECUSDT	−0.0088%	8h	1,471.6	−0.226%	$273.4M	$660.7M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,472.7	−0.154%	$6K	$2K	10x	as long as short
Variational Omni ZEC	−0.0037%	8h	1,473.4	−0.103%	$47.0M	$33.5M	—	as long as short
dYdX ZEC-USD	0.0000%	1h	1,473.7	−0.080%	$415K	$104K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,473.3	−0.114%	$901K	$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	1,472.5	−0.167%	$84K	$404K	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	0.0000%	1h	1,473.4	−0.103%	$615K	$1.3M	25x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,473.1	−0.125%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0010%	8h	1,472.4	−0.170%	$294K	$1.4M	20x	as long as short
Phoenix ZEC	+0.0024%	1h	1,475.6	+0.046%	$4.7M	$1.6M	10x	as long as short
OKX ZEC-USDT-SWAP	+0.0039%	8h	1,472.1	−0.191%	$180.4M	$1.35B	50x	as long as short
01 Exchange ZECUSD	+0.0040%	1h	1,472.9	−0.136%	$8K	$8K	5x	as long as short
Gate ZEC_USDT	+0.0044%	8h	1,472.5	−0.164%	$50.6M	$184.1M	75x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0055% / S −0.0011%	1h	1,472.9	−0.137%	$366K	—	100x	as long as short
SoDEX ZEC-USD	+0.0090%	1h	1,472.4	−0.171%	$226K	$4.5M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,472.6	−0.158%	$176K	$1.9M	50x	as long as short
Katana Perps ZEC-USD	+0.0097%	8h	1,473.5	−0.096%	$12K	$828K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,472.7	−0.152%	$61K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,473.4	−0.104%	$2.6M	$6.8M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,473.9	−0.070%	$764.8M	$473.6M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,472.5	−0.164%	$15.5M	$32.7M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,473.2	−0.119%	$1.7M	$2.9M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,472.4	−0.168%	$681.3M	$2.46B	75x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,473.9	−0.071%	$717K	$8.3M	10x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,471.1	−0.258%	$908K	$26K	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,472.4	−0.169%	$222.0M	$830.5M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,472.5	−0.163%	$104.1M	$55.8M	75x	as long as short
Bitget ZECUSDTshort	+0.0100%	8h	1,472.5	−0.167%	$162.7M	$303.0M	75x
BingX ZEC-USDC	+0.0100%	8h	1,472.4	−0.174%	—	$6.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,474.3	−0.043%	$513K	$9.3M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,475.5	+0.040%	$3.0M	$466K	10x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,473.9	−0.069%	$110K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,472.6	−0.158%	$347K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,472.5	−0.164%	$128K	$159K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,471	−0.263%	$448K	$503K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,474.9	−0.003%	$3K	$1.2M	20x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,472.1	−0.193%	$2.5M	$23.2M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,473	−0.130%	$3.9M	$5.3M	50x	as long as short
Lighter ZEC	+0.0104%	1h	1,474.2	−0.053%	$19.1M	$52.1M	20x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,472.9	−0.136%	$3.3M	$6.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,472.4	−0.173%	$37K	$366K	20x	as long as short
RISEx ZEC/USDC	+0.0132%	1h	1,473.2	−0.115%	$835K	$1.2M	10x	as long as short
Coinbase International ZEC-PERP-INTXlong	+0.0432%	1h	1,474.9	long leg	$3.8M	$11.0M	50x
Backpack ZEC_USDC_PERP	+0.0458%	1h	1,473.4	−0.106%	$2.4M	$3.7M	15x	as long as short
Lighter RH ZEC	+0.0512%	1h	1,474.7	−0.013%	$2.0M	$8.2M	10x	as long as short
Aftermath Perps ZECUSD	+0.0636%	1h	1,474.2	−0.052%	$46K	$47K	10x	as long as short