Funding arb · Price arb /

ZEC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0526%/8h= −57.6% APRpaid last 24h −0.029%

Price spread now: HTX against Arcus−0.192%7-day average −0.058% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$320.325% of the position

Long on Arcus Short on HTX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.133%−$13 on $10k

Price spread, last 4 days (all we have)+0.784%+$78 · spread now −0.192%, 7d avg −0.058%

Together, before fees+0.652%+$65 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and HTX is 0.134% cheaper against Arcus than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.058%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.133% in total (about -13.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus ZEC-USD	1,449.7	0.0626	pay 0.0078% / 1h	46m 53s	$737K	$8.3M	10x
Short	HTX ZEC-USDT	1,446.9	0.0100	get 0.0100% / 8h	4h 46m	$2.6M	$18.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Arcus. 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 ArcusbpFee HTXbpOrdersPrice spread, now −0.192%Rate

Funding earned: −$110.39
Price spread: −0.192% → −0.058%: −$13.39
Slippage, 4 orders: −$15.99
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee HTX: 6 bp × 2 orders: −$12
Net: −$156.27
Costs to cover: 0.325%
Break-even: never at this rate

Slippage from Arcus: live order book, 2 min ago; HTX: 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 Arcus live order book, 2 min ago	0.63 bp	6.7 bp −$7	12.1 bp −$121	doesn't fit	doesn't fit
Sell HTX live order book, 2 min ago	4.18 bp	11.8 bp −$12	17.4 bp −$174	35.8 bp −$3,581	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	−0.3166%	1h	1,448	−0.118%	$33K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,447.6	−0.143%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0072%	8h	1,447.3	−0.161%	$29.2M	$70.4M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,447	−0.186%	$407K	$40K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,447.7	−0.135%	$1.5M	$4.5M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,448.2	−0.103%	$83K	$240K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,447.7	−0.136%	$5.1M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0058%	8h	1,447.2	−0.170%	$290K	$958K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0064% / S −0.0015%	1h	1,448.2	−0.101%	$407K	—	100x	as long as short
01 Exchange ZECUSD	+0.0072%	1h	1,448.1	−0.105%	$8K	$7K	5x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex ZECUSDT	+0.0096%	1h	1,447.9	−0.123%	$173K	$1.7M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,447.3	−0.164%	$10K	$874K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,447.4	−0.153%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,447.7	−0.133%	$2.5M	$6.3M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,448.5	−0.081%	$753.3M	$434.5M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,447.3	−0.161%	$14.4M	$27.7M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,447.5	−0.152%	$1.6M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,447.2	−0.172%	$663.8M	$2.22B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,446.6	−0.212%	$260.8M	$602.3M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,447.2	−0.173%	$176.8M	$1.22B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,445.7	−0.274%	$394K	$442K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,449.4	−0.016%	$876K	$23K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,447.1	−0.176%	$50.0M	$172.6M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,447.2	−0.169%	$215.0M	$768.4M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,447.7	−0.134%	$101.9M	$54.8M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,447.1	−0.180%	$164.2M	$273.9M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,447.4	−0.154%	—	$100.8M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,448.2	−0.101%	$2.5M	$3.8M	15x	as long as short
Variational Omni ZEC	+0.0100%	8h	1,447.2	−0.174%	$47.4M	$32.8M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,446.4	−0.223%	$563K	$8.7M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,447.7	−0.135%	$3.0M	$437K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,446.8	−0.201%	$402K	$920K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,448.1	−0.112%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,447.7	−0.136%	$364K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,448.2	−0.098%	$160K	$185K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,446.4	−0.228%	$442K	$521K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,450.4	+0.048%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,447.3	−0.164%	$232K	$3.4M	10x	as long as short
HTX ZEC-USDTshort	+0.0100%	8h	1,446.9	−0.192%	$2.6M	$18.2M	75x
Phemex ZECUSDT	+0.0100%	8h	1,447	−0.183%	$3.8M	$5.1M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,447	−0.182%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,447.1	−0.176%	$47K	$151K	20x	as long as short
Phoenix ZEC	+0.0123%	1h	1,448.9	−0.052%	$4.6M	$1.3M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0269%	1h	1,447.9	−0.119%	$608K	$1.3M	25x	as long as short
Kraken Futures PF_ZECUSD	+0.0279%	1h	1,447.2	−0.171%	$17.9M	$44.9M	25x	as long as short
Lighter ZEC	+0.0344%	1h	1,448.7	−0.068%	$19.0M	$45.9M	20x	as long as short
RISEx ZEC/USDC	+0.0412%	1h	1,448.1	−0.107%	$931K	$1.1M	10x	as long as short
Lighter RH ZEC	+0.0424%	1h	1,449.1	−0.037%	$2.0M	$6.9M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0448%	1h	1,450	+0.024%	$3.8M	$9.0M	50x	as long as short
Arcus ZEC-USDlong	+0.0626%	1h	1,449.7	long leg	$737K	$8.3M	10x
Aftermath Perps ZECUSD	+0.0670%	1h	1,449.2	−0.030%	$44K	$49K	10x	as long as short