Funding arb · Price arb /

ZEC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0028%/8h= −3.1% APRpaid last 24h −0.072%

Price spread now: Gate against Hyperliquid−0.011%7-day average −0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$340.341% of the position

Long on Hyperliquid Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.378%−$38 on $10k

Price spread, last 7 days−0.023%−$2 · spread now −0.011%, 7d avg −0.031%

Together, before fees−0.401%+ Points / potential airdropHyperliquid: Season 2 · farm board−$40 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.020% dearer against Hyperliquid than usual: you sell high and buy low (spread −0.011% now, against its 7-day average of −0.031%): +$2 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.4 days. At the pace of the last 7 days (−0.378% in total) that is about 9 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ZEC	1,456.1	0.0100	pay 0.0013% / 1h	18m 34s	$752.4M	$494.5M	10x
Short	Gate ZEC_USDT	1,455.9	0.0072	get 0.0072% / 8h	2h 18m	$49.4M	$190.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Hyperliquid. 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 HyperliquidbpFee GatebpOrdersPrice spread, now −0.011%Rate

Funding earned: −$5.88
Price spread: −0.011% → −0.031%: $2.03
Slippage, 4 orders: −$10.12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$37.97
Costs to cover: 0.341%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 6 min ago; Gate: live order book, 5 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 Hyperliquid live order book, 6 min ago	0.34 bp	4.8 bp −$5	6.2 bp −$62	12.4 bp −$1,243	doesn't fit
Sell Gate live order book, 5 min ago	0.76 bp	12.4 bp −$12	16.7 bp −$167	31.5 bp −$3,151	54.5 bp −$27.3K

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	−1.577%	$33K	$275K	12x	as long as short
BloFin ZEC-USDT	−0.0085%	8h	1,456.6	+0.036%	$28.7M	$75.4M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,457.1	+0.066%	$6K	$2K	10x	as long as short
Kraken Futures PF_ZECUSD	−0.0071%	1h	1,456.6	+0.032%	$17.7M	$44.7M	25x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,457.2	+0.078%	$410K	$106K	5x	as long as short
Bybit ZECUSDT	0.0000%	8h	1,454.8	−0.087%	$267.4M	$677.2M	75x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,457.9	+0.124%	$933K	$5.7M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,455.8	−0.023%	$83K	$401K	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	0.0000%	1h	1,457.5	+0.099%	$593K	$1.3M	25x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,457.2	+0.078%	$5.2M	—	150x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni ZEC	+0.0008%	8h	1,455.6	−0.035%	$45.8M	$33.2M	—	as long as short
Orderly PERP_ZEC_USDC	+0.0015%	8h	1,457	+0.064%	$292K	$1.5M	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0021% / S +0.0071%	1h	1,457	+0.061%	$557K	—	100x	as long as short
01 Exchange ZECUSD	+0.0048%	1h	1,455.8	−0.022%	$8K	$8K	5x	as long as short
OKX ZEC-USDT-SWAP	+0.0058%	8h	1,455.4	−0.045%	$173.3M	$1.36B	50x	as long as short
Gate ZEC_USDTshort	+0.0072%	8h	1,455.9	−0.011%	$49.4M	$190.5M	75x
Ondo Perps ZEC-USD.P	+0.0082%	1h	1,454.6	−0.103%	$395K	$521K	5x	as long as short
Aster ZECUSDT	+0.0095%	8h	1,456.4	+0.023%	$15.3M	$34.4M	75x	as long as short
Katana Perps ZEC-USD	+0.0095%	8h	1,456.1	+0.001%	$13K	$872K	10x	as long as short
Lighter ZEC	+0.0096%	1h	1,457.8	+0.114%	$18.8M	$54.7M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,455.4	−0.049%	$173K	$2.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,456.4	+0.018%	$60K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,456.7	+0.039%	$2.5M	$7.1M	10x	as long as short
Hyperliquid ZEClong	+0.0100%	1h	1,456.1	long leg	$752.4M	$494.5M	10x
Pacifica ZEC	+0.0100%	1h	1,456.3	+0.015%	$1.6M	$3.0M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,455.6	−0.036%	$664.0M	$2.53B	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,456.2	+0.004%	$216.5M	$897.3M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,456.4	+0.020%	$103.0M	$57.1M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,455.6	−0.034%	$161.1M	$313.2M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,456.3	+0.015%	—	$101.3M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,457.4	+0.087%	$2.3M	$4.1M	15x	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,456.3	+0.016%	$489K	$9.6M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,455.5	−0.039%	$3.0M	$510K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,457	+0.061%	$428K	$814K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,457.3	+0.082%	$109K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,455.3	−0.055%	$345K	$2.0M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,455.2	−0.060%	$127K	$161K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,455.9	−0.015%	$443K	$498K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,458.6	+0.168%	$3K	$1.3M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,456.9	+0.054%	$221K	$4.7M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,457.2	+0.077%	$2.4M	$25.0M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,456.8	+0.047%	$3.8M	$5.4M	50x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,455	−0.076%	$896K	$26K	10x	as long as short
Phoenix ZEC	+0.0103%	1h	1,455.5	−0.039%	$4.6M	$1.6M	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,456.5	+0.028%	$3.3M	$6.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,457.2	+0.078%	$36K	$362K	20x	as long as short
RISEx ZEC/USDC	+0.0219%	1h	1,456.3	+0.011%	$862K	$1.8M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0440%	1h	1,459.8	+0.253%	$3.7M	$11.4M	50x	as long as short
Aftermath Perps ZECUSD	+0.0450%	1h	1,456.6	+0.032%	$40K	$34K	10x	as long as short
Arcus ZEC-USD	+0.0518%	1h	1,457.8	+0.116%	$747K	$8.0M	10x	as long as short
Lighter RH ZEC	+0.0640%	1h	1,458.4	+0.158%	$1.9M	$8.5M	10x	as long as short