Funding arb · Price arb /

ZEC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.060%

Price spread now: Hyperliquid against HTX+0.159%7-day average +0.043% · 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−$17as in the Price arb table

costs, in and out, $10k−$290.287% of the position

Long on HTX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.463%+$46 on $10k

Price spread, last 3 days (all we have)−0.495%−$50 · spread now +0.159%, 7d avg +0.043%

Together, before fees−0.032%+ Points / potential airdropHyperliquid: Season 2 · farm board−$3 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: Hyperliquid is 0.116% dearer against HTX than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of +0.043%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ZEC-USDT	1,465.5	0.0100	pay 0.0100% / 8h	1h 41m	$2.5M	$24.1M	75x
Short	Hyperliquid ZEC	1,467.8	0.0100	get 0.0013% / 1h	41m 57s	$760.6M	$490.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.159%Rate

Funding earned: $0
Price spread: +0.159% → +0.043%: $11.65
Slippage, 4 orders: −$7.69
Fee HTX: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$17.04
Costs to cover: 0.287%
Break-even: never at this rate

Slippage from HTX: live order book, 2 min ago; Hyperliquid: live order book, 12 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, 2 min ago	2.66 bp	8.7 bp −$9	12.3 bp −$123	34.3 bp −$3,426	doesn't fit
Sell Hyperliquid live order book, 12 min ago	0.34 bp	6.4 bp −$6	8.6 bp −$86	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	−0.3310%	1h	1,462.9	−0.173%	$34K	$275K	12x	as long as short
Kraken Futures PF_ZECUSD	−0.0404%	1h	1,466.3	+0.056%	$17.9M	$44.7M	25x	as long as short
Ondo Perps ZEC-USD.P	−0.0190%	1h	1,466.9	+0.098%	$398K	$521K	5x	as long as short
BloFin ZEC-USDT	−0.0098%	8h	1,467.1	+0.112%	$29.1M	$75.5M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,467.4	+0.133%	$6K	$2K	10x	as long as short
Bybit ZECUSDT	−0.0048%	8h	1,466.3	+0.059%	$271.9M	$673.4M	75x	as long as short
Variational Omni ZEC	−0.0022%	8h	1,467.6	+0.146%	$46.6M	$34.0M	—	as long as short
dYdX ZEC-USD	0.0000%	1h	1,467.9	+0.167%	$413K	$106K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,467.4	+0.130%	$889K	$5.6M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,466.5	+0.068%	$83K	$404K	10x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit ZEC_USDC-PERPETUAL	0.0000%	1h	1,467.1	+0.111%	$597K	$1.3M	25x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,467.2	+0.118%	$5.2M	—	150x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0009% / S +0.0079%	1h	1,467	+0.103%	$542K	—	100x	as long as short
Orderly PERP_ZEC_USDC	+0.0014%	8h	1,466.7	+0.081%	$292K	$1.5M	20x	as long as short
OKX ZEC-USDT-SWAP	+0.0048%	8h	1,466.4	+0.066%	$176.3M	$1.36B	50x	as long as short
Gate ZEC_USDT	+0.0052%	8h	1,466.5	+0.070%	$49.9M	$184.4M	75x	as long as short
Bulk ZEC-USD	+0.0054%	1h	1,460.6	−0.334%	$899K	$25K	10x	as long as short
01 Exchange ZECUSD	+0.0056%	1h	1,467.2	+0.117%	$8K	$8K	5x	as long as short
Phoenix ZEC	+0.0075%	1h	1,468.6	+0.216%	$4.6M	$1.6M	10x	as long as short
Katana Perps ZEC-USD	+0.0096%	8h	1,466.7	+0.083%	$14K	$862K	10x	as long as short
Lighter ZEC	+0.0096%	1h	1,468.3	+0.193%	$19.0M	$52.4M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,466.5	+0.070%	$173K	$1.9M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,466	+0.035%	$60K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,467.2	+0.118%	$2.5M	$6.9M	10x	as long as short
Hyperliquid ZECshort	+0.0100%	1h	1,467.8	+0.159%	$760.6M	$490.9M	10x
Aster ZECUSDT	+0.0100%	8h	1,466.6	+0.077%	$15.4M	$33.5M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,467	+0.108%	$1.7M	$3.0M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,466.7	+0.082%	$675.1M	$2.50B	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,466.5	+0.067%	$221.2M	$857.0M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,466.8	+0.091%	$103.2M	$56.1M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,466.8	+0.089%	$162.3M	$307.5M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,466	+0.033%	—	$6.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,468.2	+0.184%	$511K	$9.5M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,467.7	+0.151%	$3.0M	$481K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,467.8	+0.160%	$431K	$819K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,468.6	+0.210%	$110K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,466.6	+0.077%	$345K	$2.0M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,466.6	+0.075%	$128K	$160K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,464.8	−0.043%	$447K	$502K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,468.6	+0.216%	$3K	$1.3M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,466.4	+0.063%	$222K	$4.5M	10x	as long as short
HTX ZEC-USDTlong	+0.0100%	8h	1,465.5	long leg	$2.5M	$24.1M	75x
Phemex ZECUSDT	+0.0100%	8h	1,467.2	+0.121%	$3.8M	$5.4M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,466.8	+0.088%	$3.3M	$6.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,466.9	+0.098%	$37K	$367K	20x	as long as short
RISEx ZEC/USDC	+0.0190%	1h	1,467	+0.106%	$844K	$1.8M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0240%	1h	1,467.4	+0.133%	$2.4M	$4.0M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0424%	1h	1,468.8	+0.224%	$3.7M	$11.7M	50x	as long as short
Lighter RH ZEC	+0.0440%	1h	1,468.7	+0.223%	$2.0M	$8.2M	10x	as long as short
Arcus ZEC-USD	+0.0444%	1h	1,467.8	+0.162%	$733K	$8.1M	10x	as long as short
Aftermath Perps ZECUSD	+0.0537%	1h	1,467.3	+0.123%	$41K	$34K	10x	as long as short