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Funding arb · Price arb /

ZEC

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 06:00 UTC+0.0380%/8h= +41.6% APRnext payment +$0.48 per $10,000 · paid last 24h +0.077%
Price spread now: Coinbase International against Polymarket Perps+0.133%7-day average +0.139% · you sell dearer than you buy
Net, funding: paid 7d − costs−$18as in the Funding arb table
Net, price: spread back to 7d avg − costs−$42as in the Price arb table
costs, in and out, $10k−$410.409% of the position
Long on Polymarket PerpsShort on Coinbase International
What this pair did over the last
the charts below follow
Funding, last 7 days+0.231%+$23 on $10k
Price spread, last 4 days (all we have)+0.244%+$24 · spread now +0.133%, 7d avg +0.139%
Together, before fees+0.475%+$47 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.139%, so right now this pair is about funding alone: +$11 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.231% in total (about 12.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.48 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPolymarket Perps ZEC-USD1,493.20.0100pay 0.0013% / 1h55m 07s$361K$1.7M10x
ShortCoinbase International ZEC-PERP-INTX1,495.20.0480get 0.0060% / 1h55m 07s$3.6M$9.9M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Coinbase International against Polymarket Perps. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$79.8
Price spread: +0.133% → +0.139%
−$0.62
Slippage, 4 orders
−$22.92
Fee Polymarket Perps: 4 bp × 2 orders
−$8
Fee Coinbase International: 5 bp × 2 orders
−$10
Net
$38.27
Costs to cover
0.409%
Break-even
3.6 days
Slippage from Polymarket Perps: live order book, 3 min ago; Coinbase International: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Polymarket Perps live order book, 3 min ago1.68 bp8.4 bp −$810.3 bp −$103doesn't fitdoesn't fit
Sell Coinbase International live order book, 4 min ago2.11 bp14.6 bp −$1518.4 bp −$18443.5 bp −$4,351doesn't fit

ZEC on 51 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective ZEC/USDC PERP−0.3684%1h1,491.6−0.108%$34K$273K12xas long as short
BloFin ZEC-USDT−0.0122%8h1,494+0.056%$30.7M$74.1M75xas long as short
ApeX Omni ZECUSDT−0.0117%1h1,492.3−0.063%$413K$931K50xas long as short
Bulk ZEC-USD−0.0102%1h1,494.5+0.089%$903K$15K10xas long as short
Kraken Futures PF_ZECUSD−0.0096%1h1,493.4+0.014%$18.1M$46.3M25xas long as short
Hotstuff ZEC-PERP−0.0080%1h1,490.4−0.190%$6K$1K10xas long as short
dYdX ZEC-USD0.0000%1h1,493.8+0.039%$415K$35K5xas long as short
Kalshi KXZECPERP0.0000%8h1,495.7+0.166%$1.6M$4.6M2.2xas long as short
Perpl ZEC0.0000%43m1,492.7−0.037%$61K$289K10xas long as short
gTrade (Gains Network) ZEC/USDL +0.0007% / S −0.0006%1h1,493.8+0.038%$5.3M—150xas long as short
Show all 51 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Orderly PERP_ZEC_USDC+0.0071%8h1,493.5+0.021%$300K$1.1M20xas long as short
Phoenix ZEC+0.0092%1h1,493.6+0.028%$4.8M$1.4M10xas long as short
Popdex ZECUSDT+0.0096%1h1,493.9+0.048%$157K$1.7M50xas long as short
Nado ZEC-PERP+0.0100%1h1,493.9+0.048%$2.8M$6.6M10xas long as short
Aster ZECUSDT+0.0100%8h1,492.9−0.022%$14.2M$29.5M75xas long as short
Pacifica ZEC+0.0100%1h1,494.8+0.106%$1.7M$2.4M10xas long as short
Binance ZECUSDT+0.0100%8h1,492.8−0.027%$695.2M$2.29B75xas long as short
Bybit ZECUSDT+0.0100%8h1,491.8−0.095%$270.1M$625.4M75xas long as short
OKX ZEC-USDT-SWAP+0.0100%8h1,491.4−0.121%$181.1M$1.31B50xas long as short
Ondo Perps ZEC-USD.P+0.0100%1h1,488.1−0.342%$405K$478K5xas long as short
Gate ZEC_USDT+0.0100%8h1,493.7+0.035%$54.5M$178.5M75xas long as short
MEXC ZEC_USDT+0.0100%8h1,493.4+0.015%$235.4M$770.9M150xas long as short
KuCoin ZECUSDTM+0.0100%8h1,493.8+0.040%$102.6M$56.4M75xas long as short
Bitget ZECUSDT+0.0100%8h1,493.3+0.005%$161.0M$286.6M75xas long as short
BingX ZEC-USDT+0.0100%8h1,493.7+0.036%—$115.3M—as long as short
Variational Omni ZEC+0.0100%8h1,493.6+0.027%$48.8M$33.6M—as long as short
edgeX ZECUSDC+0.0100%4h1,489.7−0.233%$569K$8.8M20xas long as short
GRVT ZEC_USDT_Perp+0.0100%8h1,494.5+0.086%$3.1M$477K10xas long as short
StandX ZEC-USD+0.0100%1h1,493.8+0.040%$57K$4.6M30xas long as short
Polymarket Perps ZEC-USDlong+0.0100%1h1,493.2long leg$361K$1.7M10x
Bullet ZEC-USD+0.0100%1h1,493.9+0.049%$165K$185K20xas long as short
Derive ZEC-PERP+0.0100%1h1,492.6−0.038%$456K$500K6.7xas long as short
SunX ZEC-USDT+0.0100%8h1,495.5+0.151%$3K$1.2M20xas long as short
SoDEX ZEC-USD+0.0100%1h1,493.6+0.027%$254K$3.5M10xas long as short
HTX ZEC-USDT+0.0100%8h1,493.3+0.005%$2.6M$19.6M75xas long as short
Phemex ZECUSDT+0.0100%8h1,494+0.052%$4.0M$5.0M50xas long as short
Paradex ZEC-USD-PERP+0.0100%8h1,494.8+0.105%$62K$43K10xas long as short
Katana Perps ZEC-USD+0.0100%8h1,493.3+0.007%$12K$861K10xas long as short
Extended ZEC-USD+0.0104%1h1,493.7+0.032%$2.8M$7.9M10xas long as short
Aevo ZEC-PERP+0.0104%1h1,493.6+0.024%$45K$149K20xas long as short
GMX ZEC/USD [WBTC.b-USDC]L +0.0105% / S −0.0080%1h1,493.5+0.017%$374K—100xas long as short
01 Exchange ZECUSD+0.0120%1h1,494.2+0.068%$8K$7K5xas long as short
RISEx ZEC/USDC+0.0129%1h1,494.1+0.059%$934K$1.2M10xas long as short
Backpack ZEC_USDC_PERP+0.0152%1h1,493.8+0.043%$2.3M$3.9M15xas long as short
Hyperliquid ZEC+0.0179%1h1,494.5+0.087%$778.6M$440.2M10xas long as short
Deribit ZEC_USDC-PERPETUAL+0.0183%1h1,494.4+0.080%$711K$1.4M25xas long as short
Arcus ZEC-USD+0.0221%1h1,495.6+0.160%$601K$8.6M10xas long as short
Aftermath Perps ZECUSD+0.0288%1h1,493.4+0.017%$49K$63K10xas long as short
Lighter ZEC+0.0312%1h1,495.2+0.133%$19.6M$45.3M20xas long as short
Lighter RH ZEC+0.0336%1h1,494.9+0.113%$2.1M$7.3M10xas long as short
Coinbase International ZEC-PERP-INTXshort+0.0480%1h1,495.2+0.133%$3.6M$9.9M50x