Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0102%/8h= +11.2% APRpaid last 24h +0.033%

Price spread now: Backpack against OKX+0.078%7-day average +0.429% · you sell dearer than you buy

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$240.244% of the position

Long on OKX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.031%−$3 on $10k

Price spread, last 7 days−0.552%−$55 · spread now +0.078%, 7d avg +0.429%

Together, before fees−0.583%−$58 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.350% cheaper against OKX than usual: you would sell low and buy high (spread +0.078% now, against its 7-day average of +0.429%). If the spread goes back, that is −$35 on $10k: about 11 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	OKX ZEC-USDT-SWAP	1,454	0.0100	pay 0.0100% / 8h	3h 51m	$177.7M	$1.22B	50x
Short	Backpack ZEC_USDC_PERP	1,455.2	0.0202	get 0.0025% / 1h	51m 36s	$2.4M	$3.9M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against OKX. 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 OKXbpFee BackpackbpOrdersPrice spread, now +0.078%Rate

Funding earned: $21.51
Price spread: +0.078% → +0.429%: −$35.02
Slippage, 4 orders: −$4.36
Fee OKX: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$37.86
Costs to cover: 0.244%
Break-even: 19.3 days

Slippage from OKX: live order book, 3 min ago; Backpack: live order book, 2 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 OKX live order book, 3 min ago	0.03 bp	5.7 bp −$6	9.1 bp −$91	19.0 bp −$1,897	doesn't fit
Sell Backpack live order book, 2 min ago	0.03 bp	5.1 bp −$5	13.4 bp −$134	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	−0.3042%	1h	1,455.8	+0.121%	$34K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,454	−0.006%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0071%	8h	1,457.2	+0.217%	$29.6M	$70.7M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,454.3	+0.018%	$410K	$37K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,456.1	+0.142%	$1.5M	$4.5M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,454.9	+0.062%	$83K	$240K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,454.5	+0.032%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0063%	8h	1,454.4	+0.026%	$291K	$952K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0072% / S −0.0024%	1h	1,454.4	+0.025%	$409K	—	100x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,453.3	−0.054%	$173K	$1.7M	50x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps ZEC-USD	+0.0100%	8h	1,453.7	−0.023%	$10K	$858K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,453.9	−0.009%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,453.9	−0.009%	$2.8M	$6.6M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,453.6	−0.032%	$14.7M	$27.9M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,453.7	−0.022%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,453.2	−0.056%	$667.4M	$2.20B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,452.7	−0.091%	$260.9M	$600.9M	75x	as long as short
OKX ZEC-USDT-SWAPlong	+0.0100%	8h	1,454	long leg	$177.7M	$1.22B	50x
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,454.1	+0.004%	$395K	$441K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,454	−0.002%	$878K	$18K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,453.6	−0.028%	$50.5M	$170.2M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,453.7	−0.022%	$214.1M	$765.1M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,453.7	−0.023%	$102.5M	$53.7M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,453.6	−0.030%	$165.3M	$270.4M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,453.9	−0.010%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,454	−0.001%	$47.7M	$32.6M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,455.8	+0.121%	$566K	$8.5M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,456.5	+0.170%	$3.0M	$451K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,457	+0.204%	$404K	$941K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,455.5	+0.098%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,454.7	+0.045%	$353K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,454.5	+0.035%	$160K	$185K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,453.3	−0.048%	$444K	$521K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,457.1	+0.207%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,454.6	+0.036%	$233K	$3.3M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,453.8	−0.019%	$2.7M	$18.4M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,455.2	+0.080%	$3.8M	$5.1M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,453.3	−0.050%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,454.6	+0.038%	$47K	$151K	20x	as long as short
01 Exchange ZECUSD	+0.0112%	1h	1,453.8	−0.018%	$8K	$7K	5x	as long as short
Phoenix ZEC	+0.0116%	1h	1,457.7	+0.250%	$4.6M	$1.3M	10x	as long as short
Lighter RH ZEC	+0.0136%	1h	1,454.6	+0.040%	$2.1M	$7.0M	10x	as long as short
Hyperliquid ZEC	+0.0138%	1h	1,454.7	+0.045%	$756.7M	$428.5M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0154%	1h	1,455.1	+0.072%	$614K	$1.3M	25x	as long as short
Lighter ZEC	+0.0176%	1h	1,454.6	+0.041%	$19.2M	$44.7M	20x	as long as short
Backpack ZEC_USDC_PERPshort	+0.0202%	1h	1,455.2	+0.078%	$2.4M	$3.9M	15x
RISEx ZEC/USDC	+0.0216%	1h	1,453.5	−0.038%	$920K	$1.1M	10x	as long as short
Kraken Futures PF_ZECUSD	+0.0333%	1h	1,454.6	+0.036%	$18.0M	$45.2M	25x	as long as short
Arcus ZEC-USD	+0.0344%	1h	1,455.7	+0.117%	$686K	$8.2M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0464%	1h	1,457.2	+0.217%	$3.7M	$9.1M	50x	as long as short
Aftermath Perps ZECUSD	+0.0679%	1h	1,456.1	+0.142%	$45K	$49K	10x	as long as short