Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.002%

Price spread now: HTX against Popdex−0.143%7-day average −0.025% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$290.294% of the position

Long on Popdex Short on HTX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.078%−$8 on $10k

Price spread, last 3 days (all we have)+0.230%+$23 · spread now −0.143%, 7d avg −0.025%

Together, before fees+0.152%+$15 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: HTX is 0.118% cheaper against Popdex than usual: you would sell low and buy high, −$12 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	Popdex ZECUSDT	1,474.4	0.0096	pay 0.0012% / 1h	22m 24s	$173K	$1.8M	50x
Short	HTX ZEC-USDT	1,472.3	0.0100	get 0.0100% / 8h	6h 22m	$2.5M	$18.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Popdex. 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 PopdexbpFee HTXbpOrdersPrice spread, now −0.143%Rate

Funding earned: $0.84
Price spread: −0.143% → −0.025%: −$11.8
Slippage, 4 orders: −$11.04
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee HTX: 6 bp × 2 orders: −$12
Net: −$40.4
Costs to cover: 0.294%
Break-even: 343.6 days

Slippage from Popdex: live order book, 2 min ago; HTX: live order book, 2 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 Popdex live order book, 2 min ago	1.02 bp	4.7 bp −$5	9.5 bp −$95	doesn't fit	doesn't fit
Sell HTX live order book, 2 min ago	2.55 bp	11.3 bp −$11	15.9 bp −$159	37.1 bp −$3,709	91.9 bp −$46.0K

ZEC on 50 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	−0.3678%	1h	1,459.3	−1.022%	$34K	$274K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,472.6	−0.118%	$6K	$1K	10x	as long as short
Ondo Perps ZEC-USD.P	−0.0016%	1h	1,471.4	−0.201%	$400K	$517K	5x	as long as short
Kraken Futures PF_ZECUSD	−0.0002%	1h	1,472.8	−0.108%	$18.1M	$43.8M	25x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,472.9	−0.096%	$415K	$54K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,473.1	−0.083%	$975K	$4.9M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,474.1	−0.020%	$84K	$254K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,474.6	+0.016%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0028%	8h	1,474.1	−0.017%	$294K	$1.0M	20x	as long as short
Variational Omni ZEC	+0.0048%	8h	1,474.4	+0.004%	$48.1M	$32.8M	—	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX ZEC/USD [WBTC.b-USDC]	L +0.0055% / S −0.0009%	1h	1,474.4	+0.005%	$385K	—	100x	as long as short
Phoenix ZEC	+0.0070%	1h	1,476.1	+0.119%	$4.7M	$1.5M	10x	as long as short
01 Exchange ZECUSD	+0.0072%	1h	1,474.6	+0.018%	$8K	$9K	5x	as long as short
Popdex ZECUSDTlong	+0.0096%	1h	1,474.4	long leg	$173K	$1.8M	50x
OKX ZEC-USDT-SWAP	+0.0097%	8h	1,474	−0.027%	$181.7M	$1.27B	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,473.8	−0.041%	$14K	$842K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,474.4	+0.005%	$61K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,473.5	−0.056%	$2.6M	$6.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,475.5	+0.081%	$768.1M	$442.7M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,474	−0.025%	$14.9M	$30.4M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,474.5	+0.013%	$1.7M	$2.7M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,474.7	+0.023%	$682.2M	$2.32B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,474	−0.022%	$271.8M	$616.8M	75x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,476.6	+0.151%	$896K	$18K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,474.5	+0.007%	$50.4M	$176.0M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,474.7	+0.022%	$216.3M	$800.4M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,474.4	−0.001%	$103.6M	$56.4M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,474.2	−0.010%	$163.8M	$283.2M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,473.9	−0.031%	—	$6.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,475.3	+0.065%	$575K	$9.0M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,473.8	−0.041%	$3.0M	$443K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,474.6	+0.014%	$429K	$898K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,473.1	−0.083%	$71K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,474.4	+0.003%	$346K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,474.7	+0.021%	$128K	$160K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,470.7	−0.247%	$457K	$511K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,474.2	−0.008%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,472.2	−0.144%	$243K	$3.7M	10x	as long as short
HTX ZEC-USDTshort	+0.0100%	8h	1,472.3	−0.143%	$2.5M	$18.7M	75x
Phemex ZECUSDT	+0.0100%	8h	1,473.2	−0.077%	$3.9M	$5.4M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,474.3	−0.005%	$3.2M	$7.1M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,472.3	−0.139%	$48K	$162K	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0214%	1h	1,473	−0.095%	$613K	$1.3M	25x	as long as short
Arcus ZEC-USD	+0.0254%	1h	1,475.4	+0.073%	$690K	$8.6M	10x	as long as short
Lighter ZEC	+0.0272%	1h	1,475.9	+0.107%	$19.3M	$48.2M	20x	as long as short
Lighter RH ZEC	+0.0296%	1h	1,476.1	+0.118%	$2.1M	$7.1M	10x	as long as short
RISEx ZEC/USDC	+0.0374%	1h	1,474.9	+0.034%	$866K	$1.0M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0472%	1h	1,473.6	−0.053%	$3.6M	$9.4M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0484%	1h	1,472.8	−0.106%	$2.5M	$3.9M	15x	as long as short
Aftermath Perps ZECUSD	+0.0739%	1h	1,475.1	+0.047%	$44K	$46K	10x	as long as short