Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.003%

Price spread now: Deribit against HTX+0.036%7-day average +0.094% · you sell dearer than you buy

Net, funding: paid 7d − costs−$10as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$340.344% of the position

Long on HTX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.245%+$25 on $10k

Price spread, last 3 days (all we have)+0.166%+$17 · spread now +0.036%, 7d avg +0.094%

Together, before fees+0.411%+$41 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Deribit is 0.058% cheaper against HTX than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.094%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.245%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ZEC-USDT	1,453	0.0100	pay 0.0100% / 8h	2h 48m	$2.4M	$25.2M	75x
Short	Deribit ZEC_USDC-PERPETUAL	1,453.5	0	get 0.0000% / 1h	48m 38s	$566K	$1.3M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.036%Rate

Funding earned: −$21
Price spread: +0.036% → +0.094%: −$5.77
Slippage, 4 orders: −$15.4
Fee HTX: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$61.17
Costs to cover: 0.344%
Break-even: never at this rate

Slippage from HTX: live order book, 5 min ago; Deribit: live order book, just now.

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, 5 min ago	2.68 bp	9.7 bp −$10	20.0 bp −$200	40.3 bp −$4,035	131.6 bp −$65.8K
Sell Deribit live order book, just now	4.12 bp	7.6 bp −$8	15.2 bp −$152	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	−1.045%	$33K	$275K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,454.1	+0.073%	$6K	$2K	10x	as long as short
Kraken Futures PF_ZECUSD	−0.0071%	1h	1,452.8	−0.010%	$17.6M	$44.6M	25x	as long as short
BloFin ZEC-USDT	−0.0066%	8h	1,452.8	−0.011%	$28.9M	$75.5M	75x	as long as short
Variational Omni ZEC	−0.0026%	8h	1,451.7	−0.089%	$45.5M	$32.1M	—	as long as short
Bybit ZECUSDT	−0.0008%	8h	1,453.5	+0.034%	$269.3M	$677.4M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,453.3	+0.020%	$409K	$106K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,454.1	+0.074%	$848K	$5.5M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,453.1	+0.005%	$82K	$401K	10x	as long as short
Deribit ZEC_USDC-PERPETUALshort	0.0000%	1h	1,453.5	+0.036%	$566K	$1.3M	25x

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	1,452.9	−0.008%	$5.1M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0009%	8h	1,452.9	−0.008%	$291K	$1.5M	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0038% / S +0.0065%	1h	1,452.3	−0.045%	$543K	—	100x	as long as short
OKX ZEC-USDT-SWAP	+0.0040%	8h	1,454.4	+0.096%	$172.4M	$1.36B	50x	as long as short
Aster ZECUSDT	+0.0059%	8h	1,454.2	+0.082%	$15.3M	$35.2M	75x	as long as short
Gate ZEC_USDT	+0.0066%	8h	1,453.9	+0.063%	$49.1M	$185.5M	75x	as long as short
01 Exchange ZECUSD	+0.0072%	1h	1,454.6	+0.113%	$8K	$8K	5x	as long as short
Ondo Perps ZEC-USD.P	+0.0093%	1h	1,452.8	−0.014%	$394K	$518K	5x	as long as short
Katana Perps ZEC-USD	+0.0095%	8h	1,454.2	+0.083%	$17K	$886K	10x	as long as short
Lighter ZEC	+0.0096%	1h	1,455.2	+0.148%	$18.8M	$53.9M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,453.9	+0.065%	$177K	$2.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,454	+0.068%	$60K	$37K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,454.2	+0.085%	$3.0M	$6.8M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,454.8	+0.124%	$752.1M	$493.6M	10x	as long as short
Pacifica ZEC	+0.0100%	1h	1,454.3	+0.089%	$1.6M	$3.1M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,453.9	+0.063%	$659.2M	$2.54B	75x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,455	+0.135%	$896K	$37K	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,454	+0.069%	$219.0M	$881.9M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,454	+0.067%	$103.4M	$56.9M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,454	+0.070%	$162.0M	$315.6M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,454.1	+0.078%	—	$106.9M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,453.1	+0.008%	$2.3M	$4.1M	15x	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,453.4	+0.027%	$487K	$9.8M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,455.2	+0.149%	$3.0M	$501K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,452.6	−0.025%	$706K	$606K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,453.4	+0.027%	$109K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,452.6	−0.028%	$298K	$2.1M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,452.5	−0.034%	$126K	$161K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,451.7	−0.090%	$441K	$493K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,456	+0.204%	$3K	$1.3M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,452.9	−0.004%	$220K	$4.7M	10x	as long as short
HTX ZEC-USDTlong	+0.0100%	8h	1,453	long leg	$2.4M	$25.2M	75x
Phemex ZECUSDT	+0.0100%	8h	1,452.9	−0.006%	$3.7M	$5.4M	50x	as long as short
Phoenix ZEC	+0.0103%	1h	1,452.3	−0.052%	$4.6M	$1.6M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,452.9	−0.003%	$36K	$362K	20x	as long as short
RISEx ZEC/USDC	+0.0219%	1h	1,454.9	+0.128%	$863K	$2.5M	10x	as long as short
Extended ZEC-USD	+0.0272%	1h	1,454.1	+0.073%	$3.3M	$7.0M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0440%	1h	1,454.8	+0.125%	$3.7M	$11.5M	50x	as long as short
Aftermath Perps ZECUSD	+0.0462%	1h	1,453.5	+0.037%	$39K	$32K	10x	as long as short
Arcus ZEC-USD	+0.0518%	1h	1,456.1	+0.212%	$753K	$7.8M	10x	as long as short
Lighter RH ZEC	+0.0736%	1h	1,456.4	+0.232%	$1.9M	$8.4M	10x	as long as short