Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0091%/8h= +9.9% APRpaid last 24h −0.002%

Price spread now: Paradex against GMX−0.065%7-day average — · you buy dearer than you sell

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

Long on GMX Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding pays, the price is against you. Paradex is 0.065% cheaper against GMX than usual: you would sell low and buy high (spread −0.065% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 2.4 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX ZEC/USD [WBTC.b-USDC]	1,467.1	L +0.0009% / S +0.0079%	pay 0.0001% / 1h	46m 50s	$542K	—	100x
Short	Paradex ZEC-USD-PERP	1,466.2	0.0100	get 0.0100% / 8h	1h 46m	$60K	$39K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against GMX. 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 GMXbpFee ParadexbpOrdersPrice spread, now −0.065%Rate

Funding earned: $19.04
Price spread: −0.065% → 0.000%: −$6.52
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$3.47
Costs to cover: 0.160%
Break-even: 8.3 days

Slippage unknown: GMX: no order-book sample; Paradex: 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 GMX no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

GMX and Paradex: 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	−0.3310%	1h	1,462.9	−0.286%	$34K	$275K	12x	as long as short
Kraken Futures PF_ZECUSD	−0.0404%	1h	1,467.8	+0.046%	$17.8M	$44.7M	25x	as long as short
Ondo Perps ZEC-USD.P	−0.0106%	1h	1,459.3	−0.534%	$397K	$518K	5x	as long as short
BloFin ZEC-USDT	−0.0097%	8h	1,467.7	+0.035%	$29.3M	$75.6M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,466.4	−0.053%	$6K	$2K	10x	as long as short
Bybit ZECUSDT	−0.0045%	8h	1,467.6	+0.029%	$271.7M	$676.4M	75x	as long as short
Variational Omni ZEC	−0.0023%	8h	1,459.1	−0.545%	$46.4M	$34.1M	—	as long as short
dYdX ZEC-USD	0.0000%	1h	1,465.5	−0.112%	$413K	$106K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,466.9	−0.017%	$889K	$5.7M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,466.3	−0.057%	$83K	$404K	10x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,467.2	+0.006%	$5.2M	—	150x	as long as short
GMX ZEC/USD [WBTC.b-USDC]long	L +0.0009% / S +0.0079%	1h	1,467.1	long leg	$542K	—	100x
Orderly PERP_ZEC_USDC	+0.0015%	8h	1,467.2	+0.007%	$294K	$1.5M	20x	as long as short
ApeX Omni ZECUSDT	+0.0039%	1h	1,463.4	−0.254%	$430K	$818K	50x	as long as short
OKX ZEC-USDT-SWAP	+0.0052%	8h	1,468	+0.060%	$176.2M	$1.37B	50x	as long as short
Bulk ZEC-USD	+0.0054%	1h	1,460.6	−0.447%	$899K	$25K	10x	as long as short
Gate ZEC_USDT	+0.0061%	8h	1,468.4	+0.088%	$49.9M	$184.0M	75x	as long as short
01 Exchange ZECUSD	+0.0064%	1h	1,466.7	−0.027%	$8K	$8K	5x	as long as short
Phoenix ZEC	+0.0075%	1h	1,459.6	−0.512%	$4.6M	$1.6M	10x	as long as short
Katana Perps ZEC-USD	+0.0096%	8h	1,466.5	−0.043%	$14K	$864K	10x	as long as short
Lighter ZEC	+0.0096%	1h	1,469.4	+0.153%	$19.0M	$52.4M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,466.2	−0.066%	$174K	$1.9M	50x	as long as short
Paradex ZEC-USD-PERPshort	+0.0100%	8h	1,466.2	−0.065%	$60K	$39K	10x
Nado ZEC-PERP	+0.0100%	1h	1,466.7	−0.030%	$2.5M	$6.9M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,469	+0.127%	$761.0M	$490.1M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,468.3	+0.082%	$15.4M	$33.6M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,466.7	−0.030%	$1.7M	$3.0M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,468	+0.062%	$673.4M	$2.52B	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,468.5	+0.093%	$222.6M	$853.9M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,468.8	+0.112%	$103.4M	$56.5M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,468.1	+0.065%	$162.9M	$309.2M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,467.6	+0.032%	—	$6.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,459.8	−0.497%	$509K	$9.5M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,458.9	−0.561%	$3.0M	$492K	10x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,463.3	−0.263%	$110K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,466.4	−0.050%	$345K	$2.0M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,466.3	−0.058%	$128K	$160K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,465.8	−0.091%	$448K	$502K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,468.6	+0.099%	$3K	$1.3M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,467.5	+0.027%	$223K	$4.6M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,467	−0.009%	$2.4M	$24.0M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,467.4	+0.018%	$3.8M	$5.4M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,468.8	+0.113%	$3.3M	$7.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,467.5	+0.028%	$37K	$367K	20x	as long as short
RISEx ZEC/USDC	+0.0190%	1h	1,466.7	−0.031%	$843K	$1.8M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0213%	1h	1,468.4	+0.086%	$597K	$1.3M	25x	as long as short
Backpack ZEC_USDC_PERP	+0.0213%	1h	1,468.6	+0.097%	$2.3M	$4.0M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0424%	1h	1,468.5	+0.096%	$3.7M	$11.7M	50x	as long as short
Lighter RH ZEC	+0.0432%	1h	1,470	+0.195%	$2.0M	$8.2M	10x	as long as short
Arcus ZEC-USD	+0.0444%	1h	1,467.1	−0.002%	$736K	$8.1M	10x	as long as short
Aftermath Perps ZECUSD	+0.0524%	1h	1,464.3	−0.192%	$40K	$34K	10x	as long as short