Funding arb · Price arb /

ZEC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:23 UTC+0.0367%/8h= +40.1% APRpaid last 24h −0.026%

Price spread now: Hotstuff against Perpl−0.062%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Perpl Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropPerpl: Active · Hotstuff: Active · farm boardneeds both histories

Funding pays, the price is against you. Hotstuff is 0.062% cheaper against Perpl than usual: you would sell low and buy high (spread −0.062% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 14 hours of funding at the current rate (+$11 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Perpl ZEC	1,506.1	−0.0447	get 0.0040% / 43m	3m 29s	$62K	$303K	10x
Short	Hotstuff ZEC-PERP	1,505.2	−0.0080	pay 0.0010% / 1h	14m 29s	$6K	$1K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against Perpl. 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 PerplbpFee HotstuffbpOrdersPrice spread, now −0.062%Rate

Funding earned: $76.97
Price spread: −0.062% → 0.000%: −$6.24
Slippage, 4 orders: no order book: not counted
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: $51.93
Costs to cover: 0.188%
Break-even: 2.3 days

Slippage unknown: Perpl: no order-book sample; Hotstuff: no order-book sample. Net counts fees only.

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 Perpl no order-book sample	—	—	—	—	—
Sell Hotstuff no order-book sample	—	—	—	—	—

Perpl and Hotstuff: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.3442%	1h	1,479.6	−1.763%	$36K	$275K	12x	as long as short
Perpl ZEClong	−0.0447%	43m	1,506.1	long leg	$62K	$303K	10x
BloFin ZEC-USDT	−0.0171%	8h	1,509	+0.187%	$31.1M	$76.4M	75x	as long as short
Bulk ZEC-USD	−0.0108%	1h	1,495.7	−0.692%	$810K	$100K	10x	as long as short
Aftermath Perps ZECUSD	−0.0083%	1h	1,500.7	−0.362%	$48K	$58K	10x	as long as short
Hotstuff ZEC-PERPshort	−0.0080%	1h	1,505.2	−0.062%	$6K	$1K	10x
dYdX ZEC-USD	0.0000%	1h	1,507.3	+0.080%	$419K	$34K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,511.3	+0.343%	$1.5M	$4.4M	2.2x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,506.1	−0.006%	$5.4M	—	150x	as long as short
Kraken Futures PF_ZECUSD	+0.0012%	1h	1,507.9	+0.114%	$18.1M	$47.2M	25x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ZEC-USD.P	+0.0063%	1h	1,507.4	+0.084%	$411K	$559K	5x	as long as short
Orderly PERP_ZEC_USDC	+0.0083%	8h	1,505.6	−0.038%	$303K	$864K	20x	as long as short
01 Exchange ZECUSD	+0.0088%	1h	1,508.5	+0.158%	$8K	$6K	5x	as long as short
Phoenix ZEC	+0.0096%	1h	1,505.9	−0.019%	$4.8M	$1.4M	10x	as long as short
Lighter RH ZEC	+0.0096%	1h	1,509.3	+0.210%	$2.1M	$7.5M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,507.7	+0.102%	$177K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0098%	8h	1,508.3	+0.146%	$14K	$891K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,508	+0.121%	$62K	$20K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,508.1	+0.132%	$3.1M	$7.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,508.5	+0.157%	$789.6M	$441.5M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,507.4	+0.083%	$14.1M	$30.8M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,508.2	+0.140%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,507.9	+0.118%	$705.5M	$2.30B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,507.4	+0.086%	$272.0M	$620.1M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,507.6	+0.097%	$184.0M	$1.36B	50x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,507.9	+0.117%	$58.7M	$187.2M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,508.2	+0.136%	$239.8M	$806.6M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,507.8	+0.110%	$103.6M	$56.5M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,507.8	+0.112%	$163.0M	$289.9M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,507.4	+0.085%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,501.9	−0.280%	$49.1M	$34.4M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,504.6	−0.103%	$576K	$9.1M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,503.1	−0.205%	$3.1M	$510K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,504.4	−0.118%	$414K	$946K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,505	−0.077%	$56K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,507.6	+0.097%	$363K	$1.6M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,505.9	−0.017%	$170K	$184K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,502.7	−0.228%	$459K	$469K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,507.1	+0.066%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,507.4	+0.086%	$255K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,507.8	+0.109%	$2.7M	$20.8M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,509.5	+0.222%	$4.0M	$4.9M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,508.2	+0.135%	$2.8M	$7.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,504.7	−0.097%	$43K	$151K	20x	as long as short
RISEx ZEC/USDC	+0.0128%	1h	1,508.4	+0.152%	$950K	$1.1M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0147% / S −0.0144%	1h	1,506	−0.009%	$335K	—	100x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0154%	1h	1,507.6	+0.099%	$688K	$1.4M	25x	as long as short
Lighter ZEC	+0.0208%	1h	1,508.6	+0.166%	$19.9M	$46.4M	20x	as long as short
Arcus ZEC-USD	+0.0403%	1h	1,508.6	+0.161%	$608K	$8.8M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0416%	1h	1,508.7	+0.171%	$3.7M	$9.6M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0497%	1h	1,509.1	+0.197%	$2.4M	$3.8M	15x	as long as short