Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0438%/8h= +47.9% APRpaid last 24h +0.024%

Price spread now: Backpack against edgeX−0.081%7-day average +0.460% · 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−$75as in the Price arb table

costs, in and out, $10k−$210.210% of the position

Long on edgeX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.343%−$34 on $10k

Price spread, last 7 days−1.055%−$106 · spread now −0.081%, 7d avg +0.460%

Together, before fees−1.399%+ Points / potential airdropedgeX: Active · farm board−$140 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.541% cheaper against edgeX than usual: you would sell low and buy high (spread −0.081% now, against its 7-day average of +0.460%). If the spread goes back, that is −$54 on $10k: about 4.1 days of funding at the current rate (+$13 a day). Mind the row above: over the last 7 days funding on this pair cost −0.343%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ZECUSDC	1,515.1	0.0100	pay 0.0050% / 4h	3h 56m	$580K	$9.1M	20x
Short	Backpack ZEC_USDC_PERP	1,513.9	0.0538	get 0.0067% / 1h	56m 18s	$2.4M	$3.8M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against edgeX. 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 edgeXbpFee BackpackbpOrdersPrice spread, now −0.081%Rate

Funding earned: $91.93
Price spread: −0.081% → +0.460%: −$54.08
Slippage, 4 orders: −$1.97
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Backpack: 5 bp × 2 orders: −$10
Net: $16.88
Costs to cover: 0.210%
Break-even: 5.7 days

Slippage from edgeX: live order book, 3 min ago; Backpack: 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 edgeX live order book, 3 min ago	0.36 bp	5.0 bp −$5	9.6 bp −$96	doesn't fit	doesn't fit
Sell Backpack live order book, 3 min ago	0.03 bp	5.2 bp −$5	15.7 bp −$157	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	−0.3702%	1h	1,500.2	−0.982%	$37K	$275K	12x	as long as short
Bulk ZEC-USD	−0.0463%	1h	1,515.3	+0.010%	$779K	$147K	10x	as long as short
Perpl ZEC	−0.0447%	43m	1,510.8	−0.288%	$62K	$305K	10x	as long as short
BloFin ZEC-USDT	−0.0164%	8h	1,513.7	−0.094%	$31.5M	$77.0M	75x	as long as short
Aftermath Perps ZECUSD	−0.0114%	1h	1,513.8	−0.086%	$48K	$59K	10x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,517.5	+0.159%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,512.1	−0.198%	$420K	$34K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,516.9	+0.120%	$1.6M	$5.0M	2.2x	as long as short
Deribit ZEC_USDC-PERPETUAL	0.0000%	1h	1,514.8	−0.020%	$692K	$1.4M	25x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,510.1	−0.330%	$5.4M	—	150x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange ZECUSD	+0.0016%	1h	1,511.2	−0.257%	$8K	$6K	5x	as long as short
Kraken Futures PF_ZECUSD	+0.0019%	1h	1,514.6	−0.035%	$18.3M	$47.8M	25x	as long as short
Bybit ZECUSDT	+0.0052%	8h	1,509.8	−0.351%	$271.7M	$628.8M	75x	as long as short
Orderly PERP_ZEC_USDC	+0.0084%	8h	1,510.3	−0.319%	$304K	$859K	20x	as long as short
Phoenix ZEC	+0.0096%	1h	1,514.3	−0.056%	$4.8M	$1.4M	10x	as long as short
Lighter RH ZEC	+0.0096%	1h	1,513.2	−0.125%	$2.1M	$7.4M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,511.2	−0.262%	$176K	$1.8M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,511.6	−0.231%	$62K	$19K	10x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,511.5	−0.239%	$16K	$898K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,512	−0.206%	$3.1M	$7.7M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,511.1	−0.265%	$790.6M	$448.4M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,509.9	−0.344%	$14.2M	$30.9M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,512.2	−0.196%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,510.3	−0.318%	$713.5M	$2.34B	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,510.2	−0.325%	$182.8M	$1.38B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,509.5	−0.371%	$413K	$553K	5x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,512.2	−0.192%	$596K	$8.9M	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,510.3	−0.320%	$59.8M	$182.3M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,510.7	−0.294%	$362.2M	$817.6M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,510.9	−0.279%	$103.2M	$57.4M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,510.7	−0.290%	$163.0M	$294.3M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,510.4	−0.315%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,513.8	−0.088%	$50.0M	$35.6M	—	as long as short
edgeX ZECUSDClong	+0.0100%	4h	1,515.1	long leg	$580K	$9.1M	20x
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,515.9	+0.052%	$3.1M	$532K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,515.1	−0.003%	$417K	$949K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,516	+0.061%	$51K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,511.2	−0.259%	$375K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,510.5	−0.304%	$169K	$193K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,512.3	−0.185%	$452K	$408K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,517.4	+0.148%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,514.1	−0.065%	$256K	$3.6M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,514.3	−0.054%	$2.7M	$21.3M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,514.2	−0.059%	$4.0M	$4.9M	50x	as long as short
Lighter ZEC	+0.0104%	1h	1,512.9	−0.144%	$19.6M	$44.0M	20x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,511.5	−0.240%	$2.7M	$8.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,510.4	−0.312%	$43K	$151K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0152% / S −0.0153%	1h	1,510.2	−0.323%	$335K	—	100x	as long as short
RISEx ZEC/USDC	+0.0157%	1h	1,511.6	−0.235%	$964K	$1.1M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0368%	1h	1,516	+0.058%	$3.7M	$9.8M	50x	as long as short
Backpack ZEC_USDC_PERPshort	+0.0538%	1h	1,513.9	−0.081%	$2.4M	$3.8M	15x