Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.002%

Price spread now: Popdex against HTX+0.076%7-day average +0.025% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$290.292% of the position

Long on HTX Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.079%+$8 on $10k

Price spread, last 4 days (all we have)−1.421%−$142 · spread now +0.076%, 7d avg +0.025%

Together, before fees−1.342%−$134 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: Popdex is 0.051% dearer against HTX than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ZEC-USDT	1,447.4	0.0100	pay 0.0100% / 8h	4h 51m	$2.6M	$18.1M	75x
Short	Popdex ZECUSDT	1,448.5	0.0096	get 0.0012% / 1h	51m 35s	$172K	$1.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now +0.076%Rate

Funding earned: −$0.84
Price spread: +0.076% → +0.025%: $5.14
Slippage, 4 orders: −$10.83
Fee HTX: 6 bp × 2 orders: −$12
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$24.94
Costs to cover: 0.292%
Break-even: never at this rate

Slippage from HTX: live order book, 3 min ago; Popdex: live order book, 3 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, 3 min ago	0.86 bp	9.5 bp −$10	12.9 bp −$129	42.4 bp −$4,235	114.6 bp −$57.3K
Sell Popdex live order book, 3 min ago	0.41 bp	5.8 bp −$6	11.8 bp −$118	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	−0.3166%	1h	1,449.6	+0.149%	$33K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,448.6	+0.079%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0078%	8h	1,448.4	+0.064%	$29.2M	$70.3M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,446.7	−0.052%	$407K	$40K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,447.5	+0.006%	$1.5M	$4.5M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,447.8	+0.027%	$83K	$240K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,448.2	+0.056%	$5.1M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0058%	8h	1,448.3	+0.060%	$290K	$958K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0064% / S −0.0014%	1h	1,448.1	+0.049%	$407K	—	100x	as long as short
01 Exchange ZECUSD	+0.0080%	1h	1,447.6	+0.015%	$7K	$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 ZECUSDTshort	+0.0096%	1h	1,448.5	+0.076%	$172K	$1.7M	50x
Katana Perps ZEC-USD	+0.0100%	8h	1,447.2	−0.015%	$10K	$874K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,447.5	+0.007%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,448.4	+0.071%	$2.5M	$6.3M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,448.3	+0.061%	$753.4M	$434.2M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,447.1	−0.021%	$14.4M	$27.7M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,447.7	+0.017%	$1.6M	$2.5M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,447.6	+0.012%	$663.9M	$2.21B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,446.9	−0.036%	$261.1M	$602.8M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,447.6	+0.014%	$177.1M	$1.22B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,448.7	+0.088%	$394K	$449K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,449.4	+0.139%	$876K	$23K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,447.5	+0.006%	$49.8M	$172.1M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,447.6	+0.012%	$213.4M	$767.5M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,447.6	+0.014%	$101.9M	$55.0M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,447.8	+0.026%	$161.7M	$272.2M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,447.5	+0.008%	—	$98.3M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,448.7	+0.086%	$2.5M	$3.8M	15x	as long as short
Variational Omni ZEC	+0.0100%	8h	1,451.4	+0.275%	$47.5M	$32.8M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,450.4	+0.203%	$564K	$8.7M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,452.4	+0.346%	$3.0M	$432K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,450	+0.176%	$408K	$912K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,449.7	+0.157%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,448.4	+0.068%	$366K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,448.4	+0.066%	$160K	$185K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,447.4	+0.002%	$442K	$521K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,450.9	+0.243%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,448.4	+0.070%	$232K	$3.4M	10x	as long as short
HTX ZEC-USDTlong	+0.0100%	8h	1,447.4	long leg	$2.6M	$18.1M	75x
Phemex ZECUSDT	+0.0100%	8h	1,447.9	+0.036%	$3.8M	$5.1M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,447.4	−0.003%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,448	+0.041%	$47K	$151K	20x	as long as short
Phoenix ZEC	+0.0123%	1h	1,450.6	+0.220%	$4.6M	$1.3M	10x	as long as short
Kraken Futures PF_ZECUSD	+0.0279%	1h	1,447.9	+0.035%	$17.9M	$44.7M	25x	as long as short
Lighter ZEC	+0.0320%	1h	1,448.9	+0.100%	$19.0M	$45.8M	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0345%	1h	1,449.1	+0.117%	$608K	$1.3M	25x	as long as short
Lighter RH ZEC	+0.0392%	1h	1,449.2	+0.124%	$2.0M	$6.9M	10x	as long as short
RISEx ZEC/USDC	+0.0412%	1h	1,448.2	+0.052%	$829K	$1.0M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0448%	1h	1,450.6	+0.216%	$3.7M	$8.9M	50x	as long as short
Arcus ZEC-USD	+0.0626%	1h	1,449.9	+0.171%	$731K	$8.3M	10x	as long as short
Aftermath Perps ZECUSD	+0.0677%	1h	1,450.4	+0.203%	$44K	$49K	10x	as long as short