Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0060%/8h= −6.6% APRpaid last 24h +0.006%

Price spread now: BingX against Deribit−0.049%7-day average −0.069% · you buy dearer than you sell

Net, funding: paid 7d − costs−$55as in the Funding arb table

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

costs, in and out, $10k−$410.408% of the position

Long on Deribit Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.141%−$14 on $10k

Price spread, last 3 days (all we have)−0.241%−$24 · spread now −0.049%, 7d avg −0.069%

Together, before fees−0.382%−$38 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BingX is 0.020% dearer against Deribit than usual: you sell high and buy low (spread −0.049% now, against its 7-day average of −0.069%): +$2 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 27 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit ZEC_USDC-PERPETUAL	1,468.4	0.0160	pay 0.0020% / 1h	2m 15s	$611K	$1.3M	25x
Short	BingX ZEC-USDT	1,467.7	0.0100	get 0.0100% / 8h	6h 02m	—	$98.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Deribit. 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 DeribitbpFee BingXbpOrdersPrice spread, now −0.049%Rate

Funding earned: −$12.61
Price spread: −0.049% → −0.069%: $2.01
Slippage, 4 orders: −$23.8
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee BingX: 5 bp × 2 orders: −$10
Net: −$51.4
Costs to cover: 0.408%
Break-even: never at this rate

Slippage from Deribit: live order book, 2 min ago; BingX: live order book, 7 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 Deribit live order book, 2 min ago	5.10 bp	8.6 bp −$9	13.4 bp −$134	doesn't fit	doesn't fit
Sell BingX live order book, 7 min ago	0.10 bp	18.4 bp −$18	20.5 bp −$205	26.6 bp −$2,658	36.4 bp −$18.2K

ZEC on 50 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	1,452	−1.115%	$33K	$274K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,470.6	+0.147%	$6K	$1K	10x	as long as short
Ondo Perps ZEC-USD.P	−0.0039%	1h	1,464.8	−0.245%	$398K	$501K	5x	as long as short
Kraken Futures PF_ZECUSD	−0.0002%	1h	1,467.8	−0.038%	$18.1M	$43.5M	25x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,468.4	−0.001%	$413K	$49K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,470.3	+0.126%	$972K	$4.7M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,467	−0.095%	$84K	$249K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,467.6	−0.053%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0031%	8h	1,467.6	−0.052%	$293K	$984K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0055% / S −0.0009%	1h	1,467.5	−0.059%	$383K	—	100x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange ZECUSD	+0.0056%	1h	1,467.3	−0.075%	$8K	$8K	5x	as long as short
Phoenix ZEC	+0.0070%	1h	1,466.6	−0.122%	$4.6M	$1.5M	10x	as long as short
Variational Omni ZEC	+0.0072%	8h	1,466.6	−0.121%	$47.9M	$32.6M	—	as long as short
OKX ZEC-USDT-SWAP	+0.0093%	8h	1,467.7	−0.049%	$180.9M	$1.24B	50x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,467.1	−0.089%	$173K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,466.8	−0.112%	$17K	$844K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,467.4	−0.071%	$60K	$41K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,467.5	−0.059%	$2.6M	$6.5M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,468.8	+0.027%	$765.1M	$434.7M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,467.5	−0.060%	$14.8M	$29.3M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,468	−0.030%	$1.7M	$2.7M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,467.5	−0.063%	$678.2M	$2.26B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,467.4	−0.066%	$271.3M	$606.9M	75x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,466.6	−0.124%	$890K	$18K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,467.5	−0.060%	$50.1M	$177.2M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,467.5	−0.063%	$216.5M	$803.1M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,467.8	−0.044%	$103.2M	$55.8M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,467.8	−0.041%	$163.0M	$276.3M	75x	as long as short
BingX ZEC-USDTshort	+0.0100%	8h	1,467.7	−0.049%	—	$98.8M	—
edgeX ZECUSDC	+0.0100%	4h	1,466	−0.163%	$570K	$8.9M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,468.2	−0.014%	$3.0M	$430K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,466.3	−0.144%	$426K	$884K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,470.1	+0.113%	$71K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,467	−0.095%	$343K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,467.5	−0.062%	$128K	$160K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,466.3	−0.143%	$448K	$512K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,470	+0.108%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,467.7	−0.049%	$242K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,469.6	+0.083%	$2.5M	$18.2M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,468.2	−0.014%	$3.9M	$5.2M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,467.7	−0.045%	$2.8M	$7.6M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,467.3	−0.075%	$48K	$155K	20x	as long as short
Deribit ZEC_USDC-PERPETUALlong	+0.0160%	1h	1,468.4	long leg	$611K	$1.3M	25x
Lighter ZEC	+0.0224%	1h	1,468.7	+0.022%	$19.2M	$48.3M	20x	as long as short
Arcus ZEC-USD	+0.0254%	1h	1,469.3	+0.065%	$692K	$8.5M	10x	as long as short
Lighter RH ZEC	+0.0296%	1h	1,469.4	+0.070%	$2.1M	$7.1M	10x	as long as short
RISEx ZEC/USDC	+0.0374%	1h	1,468	−0.030%	$851K	$1.0M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0418%	1h	1,469.3	+0.058%	$2.4M	$3.9M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0472%	1h	1,469.3	+0.063%	$3.6M	$9.0M	50x	as long as short
Aftermath Perps ZECUSD	+0.0733%	1h	1,468.8	+0.030%	$43K	$46K	10x	as long as short