Funding arb · Price arb /

ZEC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.006%

Price spread now: Bullet against HTX−0.022%50s7-day average +0.016% · 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—prices read too far apart to compare

costs, in and out, $10k−$320.319% of the position

Long on HTX Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.078%+$8 on $10k

Price spread, last 3 days (all we have)−0.582%−$58 · spread now −0.022%, 7d avg +0.016%

Together, before fees−0.504%−$50 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bullet is 0.038% cheaper against HTX than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.016%. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ZEC-USDT	1,451.9	0.0100	pay 0.0100% / 8h	2h 45m	$2.4M	$24.9M	75x
Short	Bullet ZEC-USD	1,451.6	0.0100	get 0.0013% / 1h	45m 25s	$126K	$161K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against HTX. 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 HTXbpFee BulletbpOrdersPrice spread, now −0.022%Rate

Funding earned: $0
Price spread: −0.022% → +0.016%: −$3.81
Slippage, 4 orders: −$11.93
Fee HTX: 6 bp × 2 orders: −$12
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$35.74
Costs to cover: 0.319%
Break-even: never at this rate

Slippage from HTX: live order book, 4 min ago; Bullet: live order book, 43 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 HTX live order book, 4 min ago	0.55 bp	8.1 bp −$8	14.2 bp −$142	34.3 bp −$3,432	104.0 bp −$52.0K
Sell Bullet live order book, 43 min ago	0.34 bp	5.8 bp −$6	10.5 bp −$105	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	−0.3476%	1h	1,437.8	−0.971%	$33K	$275K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,451.9	−0.003%	$6K	$2K	10x	as long as short
Kraken Futures PF_ZECUSD	−0.0072%	1h	1,451.8	−0.005%	$17.6M	$44.3M	25x	as long as short
BloFin ZEC-USDT	−0.0066%	8h	1,453	+0.077%	$28.9M	$75.2M	75x	as long as short
Variational Omni ZEC	−0.0019%	8h	1,451.4	−0.036%	$45.7M	$32.0M	—	as long as short
Bybit ZECUSDT	−0.0008%	8h	1,451.5	−0.028%	$268.8M	$675.6M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,451.8	−0.007%	$409K	$106K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,452.4	+0.035%	$846K	$5.5M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,451.3	−0.044%	$82K	$401K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,451.9	−0.004%	$5.1M	—	150x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_ZEC_USDC	+0.0010%	8h	1,452.6	+0.046%	$291K	$1.5M	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0025%	1h	1,453.2	+0.090%	$566K	$1.3M	25x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0036% / S +0.0066%	1h	1,451.7	−0.017%	$543K	—	100x	as long as short
OKX ZEC-USDT-SWAP	+0.0043%	8h	1,452.4	+0.031%	$171.7M	$1.36B	50x	as long as short
Aster ZECUSDT	+0.0061%	8h	1,451.5	−0.030%	$15.3M	$35.1M	75x	as long as short
01 Exchange ZECUSD	+0.0064%	1h	1,451.6	−0.020%	$8K	$8K	5x	as long as short
Gate ZEC_USDT	+0.0065%	8h	1,451.5	−0.030%	$49.1M	$185.7M	75x	as long as short
Ondo Perps ZEC-USD.P	+0.0082%	1h	1,452.8	+0.061%	$394K	$518K	5x	as long as short
Katana Perps ZEC-USD	+0.0095%	8h	1,452	+0.006%	$17K	$878K	10x	as long as short
Lighter ZEC	+0.0096%	1h	1,452.7	+0.057%	$18.7M	$53.9M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,451.5	−0.030%	$177K	$2.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,451.6	−0.024%	$60K	$37K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,451.8	−0.011%	$3.0M	$6.8M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,452.2	+0.020%	$750.9M	$495.1M	10x	as long as short
Pacifica ZEC	+0.0100%	1h	1,451.6	−0.021%	$1.6M	$3.1M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,451.9	−0.004%	$658.3M	$2.53B	75x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,455	+0.210%	$896K	$37K	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,451.6	−0.019%	$219.0M	$883.3M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,451.6	−0.019%	$103.6M	$56.9M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,452.3	+0.029%	$161.8M	$314.5M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,451.4	−0.033%	—	$107.0M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,452.6	+0.046%	$2.3M	$4.1M	15x	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,453.5	+0.113%	$487K	$9.8M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,452.3	+0.026%	$3.0M	$501K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,452.2	+0.022%	$706K	$606K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,452.4	+0.034%	$109K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,451.2	−0.049%	$298K	$2.0M	10x	as long as short
Bullet ZEC-USDshort	+0.0100%	1h	1,451.6	−0.022%	$126K	$161K	20x
Derive ZEC-PERP	+0.0100%	1h	1,451.3	−0.044%	$441K	$493K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,454.4	+0.168%	$3K	$1.3M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,452.1	+0.010%	$219K	$4.7M	10x	as long as short
HTX ZEC-USDTlong	+0.0100%	8h	1,451.9	long leg	$2.4M	$24.9M	75x
Phemex ZECUSDT	+0.0100%	8h	1,451.9	−0.001%	$3.7M	$5.4M	50x	as long as short
Phoenix ZEC	+0.0103%	1h	1,452.8	+0.064%	$4.6M	$1.6M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,452.7	+0.055%	$36K	$362K	20x	as long as short
Extended ZEC-USD	+0.0192%	1h	1,452.6	+0.047%	$3.3M	$7.0M	10x	as long as short
RISEx ZEC/USDC	+0.0219%	1h	1,452.1	+0.011%	$862K	$2.5M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0440%	1h	1,454.1	+0.152%	$3.7M	$11.5M	50x	as long as short
Aftermath Perps ZECUSD	+0.0451%	1h	1,453.2	+0.090%	$39K	$32K	10x	as long as short
Arcus ZEC-USD	+0.0518%	1h	1,454.1	+0.154%	$754K	$7.8M	10x	as long as short
Lighter RH ZEC	+0.0728%	1h	1,453.7	+0.125%	$1.9M	$8.4M	10x	as long as short