Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0065%/8h= −7.1% APRpaid last 24h −0.009%

Price spread now: GMX against edgeX+0.030%50s7-day average +0.081% · you sell dearer than you buy

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

Long on edgeX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.124%−$12 on $10k

Price spread, last 4 days (all we have)+0.121%+$12 · spread now +0.030%, 7d avg +0.081%

Together, before fees−0.003%+ Points / potential airdropedgeX: Active · farm board$0 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and GMX is 0.051% cheaper against edgeX than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.081%). Swap the legs. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ZECUSDC	1,456.2	0.0100	pay 0.0050% / 4h	3h 23m	$567K	$8.5M	20x
Short	GMX ZEC/USD [WBTC.b-USDC]	1,456.6	L +0.0084% / S −0.0035%	get 0.0004% / 1h	23m 24s	$434K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.030%Rate

Funding earned: −$13.69
Price spread: +0.030% → +0.081%: −$5.11
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee GMX: 6 bp × 2 orders: −$12
Net: −$39.8
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: edgeX: live order book, 1 min ago; GMX: no order-book sample. 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 edgeX live order book, 1 min ago	0.38 bp	5.1 bp −$5	9.1 bp −$91	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.3042%	1h	1,458	+0.125%	$34K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,456.4	+0.016%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0071%	8h	1,456.5	+0.022%	$29.4M	$70.6M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,457.7	+0.102%	$410K	$36K	5x	as long as short
Perpl ZEC	0.0000%	43m	1,458.1	+0.132%	$83K	$239K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,457.6	+0.099%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0063%	8h	1,456.1	−0.004%	$291K	$943K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]short	L +0.0084% / S −0.0035%	1h	1,456.6	+0.030%	$434K	—	100x
Popdex ZECUSDT	+0.0096%	1h	1,458	+0.125%	$174K	$1.7M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,458.3	+0.143%	$14K	$818K	10x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex ZEC-USD-PERP	+0.0100%	8h	1,458.2	+0.140%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,458.7	+0.171%	$2.8M	$6.6M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,457.8	+0.115%	$14.5M	$27.9M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,458.4	+0.152%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,458	+0.127%	$671.0M	$2.19B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,457.4	+0.083%	$261.1M	$598.8M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,457.8	+0.111%	$178.8M	$1.21B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,456.9	+0.050%	$395K	$434K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,457.9	+0.118%	$881K	$17K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,457.7	+0.105%	$51.4M	$171.8M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,457.9	+0.115%	$219.5M	$770.8M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,457.9	+0.121%	$102.9M	$53.4M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,458.1	+0.134%	$165.9M	$269.4M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,457.4	+0.086%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,455.5	−0.049%	$47.7M	$32.8M	—	as long as short
edgeX ZECUSDClong	+0.0100%	4h	1,456.2	long leg	$567K	$8.5M	20x
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,456.6	+0.026%	$3.0M	$463K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,456.4	+0.018%	$402K	$943K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,456.3	+0.007%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,457.7	+0.105%	$354K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,457.6	+0.096%	$160K	$185K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,455.1	−0.076%	$444K	$509K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,459.1	+0.202%	$4K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,456.4	+0.014%	$233K	$3.2M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,455.7	−0.035%	$2.7M	$18.4M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,456.8	+0.040%	$3.8M	$4.9M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,457.5	+0.094%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,456.1	−0.007%	$47K	$151K	20x	as long as short
Lighter RH ZEC	+0.0112%	1h	1,460	+0.261%	$2.1M	$7.0M	10x	as long as short
Phoenix ZEC	+0.0116%	1h	1,457.6	+0.094%	$4.6M	$1.3M	10x	as long as short
01 Exchange ZECUSD	+0.0128%	1h	1,458.4	+0.153%	$8K	$7K	5x	as long as short
Hyperliquid ZEC	+0.0143%	1h	1,458.9	+0.187%	$759.6M	$424.2M	10x	as long as short
Lighter ZEC	+0.0144%	1h	1,459.8	+0.250%	$19.3M	$45.1M	20x	as long as short
Kalshi KXZECPERP	+0.0162%	8h	1,458	+0.125%	$1.5M	$4.4M	2.2x	as long as short
Backpack ZEC_USDC_PERP	+0.0188%	1h	1,457.8	+0.114%	$2.4M	$3.8M	15x	as long as short
RISEx ZEC/USDC	+0.0216%	1h	1,458.1	+0.129%	$922K	$1.1M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0308%	1h	1,456.9	+0.053%	$613K	$1.3M	25x	as long as short
Kraken Futures PF_ZECUSD	+0.0333%	1h	1,456.5	+0.024%	$18.0M	$45.2M	25x	as long as short
Arcus ZEC-USD	+0.0344%	1h	1,459.5	+0.228%	$697K	$8.1M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0464%	1h	1,458.6	+0.168%	$3.8M	$9.2M	50x	as long as short
Aftermath Perps ZECUSD	+0.0678%	1h	1,457.1	+0.063%	$45K	$49K	10x	as long as short