Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0082%/8h= +9.0% APRpaid last 24h +0.046%

Price spread now: Variational Omni against Hotstuff−0.034%7-day average — · you buy dearer than you sell

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

Long on Hotstuff Short on Variational Omni

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 airdropHotstuff: Active · Variational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Variational Omni is 0.034% cheaper against Hotstuff than usual: you would sell low and buy high (spread −0.034% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 33 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff ZEC-PERP	1,457.1	−0.0080	get 0.0010% / 1h	15m 08s	$6K	$2K	10x
Short	Variational Omni ZEC	1,456.6	0.0002	get 0.0002% / 8h	2h 15m	$45.6M	$33.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Hotstuff. 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 HotstuffbpFee Variational OmnibpOrdersPrice spread, now −0.034%Rate

Funding earned: $17.32
Price spread: −0.034% → 0.000%: −$3.44
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $8.88
Costs to cover: 0.050%
Break-even: 3.4 days

Slippage unknown: Hotstuff: no order-book sample; Variational Omni: RFQ quote, 4 min ago. 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 Hotstuff no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 4 min ago	2.78 bp	doesn't fit	6.5 bp −$65	12.8 bp −$1,280	doesn't fit

Hotstuff: 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	−0.3476%	1h	1,433.1	−1.644%	$33K	$275K	12x	as long as short
BloFin ZEC-USDT	−0.0085%	8h	1,457.2	+0.004%	$28.7M	$75.4M	75x	as long as short
Hotstuff ZEC-PERPlong	−0.0080%	1h	1,457.1	long leg	$6K	$2K	10x
Kraken Futures PF_ZECUSD	−0.0071%	1h	1,457.4	+0.022%	$17.7M	$44.6M	25x	as long as short
Bybit ZECUSDT	−0.0004%	8h	1,456.6	−0.033%	$268.9M	$677.5M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,457.2	+0.007%	$410K	$106K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,458.6	+0.106%	$934K	$5.7M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,457	−0.007%	$83K	$401K	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	0.0000%	1h	1,458	+0.064%	$593K	$1.3M	25x	as long as short
Variational Omni ZECshort	+0.0002%	8h	1,456.6	−0.034%	$45.6M	$33.4M	—

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	1,457.7	+0.045%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0016%	8h	1,457.4	+0.024%	$292K	$1.5M	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0019% / S +0.0072%	1h	1,457.6	+0.034%	$557K	—	100x	as long as short
01 Exchange ZECUSD	+0.0048%	1h	1,457.8	+0.047%	$8K	$8K	5x	as long as short
OKX ZEC-USDT-SWAP	+0.0057%	8h	1,457.2	+0.010%	$173.9M	$1.36B	50x	as long as short
Gate ZEC_USDT	+0.0072%	8h	1,457.4	+0.019%	$49.3M	$190.8M	75x	as long as short
Ondo Perps ZEC-USD.P	+0.0075%	1h	1,452.8	−0.294%	$395K	$519K	5x	as long as short
Katana Perps ZEC-USD	+0.0095%	8h	1,457.3	+0.012%	$15K	$871K	10x	as long as short
Aster ZECUSDT	+0.0095%	8h	1,457.4	+0.020%	$15.3M	$34.1M	75x	as long as short
Lighter ZEC	+0.0096%	1h	1,458.9	+0.126%	$18.8M	$54.7M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,457.2	+0.005%	$173K	$2.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,457.3	+0.012%	$60K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,457.7	+0.039%	$2.5M	$7.1M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,458.4	+0.090%	$754.1M	$495.1M	10x	as long as short
Pacifica ZEC	+0.0100%	1h	1,457.7	+0.044%	$1.6M	$3.0M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,457.5	+0.027%	$665.5M	$2.53B	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,457.7	+0.038%	$217.5M	$898.1M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,457.7	+0.043%	$103.1M	$57.0M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,457.5	+0.030%	$161.4M	$312.5M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,456.7	−0.025%	—	$6.8M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,458.3	+0.080%	$2.3M	$4.1M	15x	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,455.2	−0.130%	$489K	$9.6M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,456.7	−0.024%	$3.0M	$510K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,456.7	−0.028%	$428K	$814K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,457.9	+0.054%	$109K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,456.9	−0.013%	$344K	$2.0M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,457.3	+0.012%	$127K	$161K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,456.2	−0.063%	$443K	$498K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,459.5	+0.168%	$3K	$1.3M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,457.4	+0.020%	$221K	$4.7M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,457.2	+0.004%	$2.4M	$24.9M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,457.5	+0.030%	$3.8M	$5.4M	50x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,455	−0.144%	$896K	$26K	10x	as long as short
Phoenix ZEC	+0.0103%	1h	1,457.5	+0.027%	$4.6M	$1.6M	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,457.7	+0.040%	$3.3M	$6.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,457.5	+0.026%	$36K	$362K	20x	as long as short
RISEx ZEC/USDC	+0.0219%	1h	1,457.9	+0.057%	$863K	$1.8M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0440%	1h	1,459.2	+0.148%	$3.8M	$11.5M	50x	as long as short
Aftermath Perps ZECUSD	+0.0464%	1h	1,457.2	+0.008%	$40K	$34K	10x	as long as short
Arcus ZEC-USD	+0.0518%	1h	1,458.8	+0.119%	$750K	$8.0M	10x	as long as short
Lighter RH ZEC	+0.0616%	1h	1,459.6	+0.169%	$1.9M	$8.5M	10x	as long as short