Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0080%/8h= −8.8% APRpaid last 24h +0.002%

Price spread now: HTX against Deribit−0.041%7-day average −0.094% · you buy dearer than you sell

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$340.342% of the position

Long on Deribit Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.265%−$26 on $10k

Price spread, last 4 days (all we have)−0.108%−$11 · spread now −0.041%, 7d avg −0.094%

Together, before fees−0.373%−$37 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 0.053% dearer against Deribit than usual: you sell high and buy low (spread −0.041% now, against its 7-day average of −0.094%): +$5 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit ZEC_USDC-PERPETUAL	1,503.5	0.0180	pay 0.0022% / 1h	15m 12s	$687K	$1.4M	25x
Short	HTX ZEC-USDT	1,502.9	0.0100	get 0.0100% / 8h	1h 15m	$2.7M	$20.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Deribit. 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 DeribitbpFee HTXbpOrdersPrice spread, now −0.041%Rate

Funding earned: −$16.79
Price spread: −0.041% → −0.094%: $5.28
Slippage, 4 orders: −$15.17
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$45.68
Costs to cover: 0.342%
Break-even: never at this rate

Slippage from Deribit: live order book, 4 min ago; HTX: live order book, 4 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 Deribit live order book, 4 min ago	5.74 bp	10.0 bp −$10	15.6 bp −$156	doesn't fit	doesn't fit
Sell HTX live order book, 4 min ago	1.00 bp	7.0 bp −$7	16.6 bp −$166	43.3 bp −$4,328	101.6 bp −$50.8K

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	−0.3684%	1h	1,478.1	−1.692%	$36K	$275K	12x	as long as short
Perpl ZEC	−0.0447%	43m	1,499.9	−0.244%	$61K	$304K	10x	as long as short
BloFin ZEC-USDT	−0.0171%	8h	1,503.4	−0.009%	$30.5M	$75.4M	75x	as long as short
Kraken Futures PF_ZECUSD	−0.0096%	1h	1,503.8	+0.015%	$18.2M	$46.4M	25x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,499.1	−0.297%	$6K	$1K	10x	as long as short
Bulk ZEC-USD	−0.0051%	1h	1,487.2	−1.089%	$898K	$9K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,499.7	−0.255%	$417K	$35K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,501.9	−0.112%	$1.6M	$4.6M	2.2x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,501.8	−0.113%	$5.3M	—	150x	as long as short
Aftermath Perps ZECUSD	+0.0051%	1h	1,493.2	−0.686%	$48K	$64K	10x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_ZEC_USDC	+0.0079%	8h	1,502.7	−0.058%	$303K	$1.1M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,500	−0.238%	$171K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0098%	8h	1,500.3	−0.215%	$12K	$879K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,499.8	−0.248%	$3.0M	$7.3M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,503.5	−0.003%	$14.0M	$30.9M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,499.8	−0.248%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,503.6	+0.002%	$700.5M	$2.31B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,503.5	−0.003%	$269.0M	$634.0M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,503.9	+0.023%	$183.6M	$1.34B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,497.5	−0.401%	$410K	$522K	5x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,501.7	−0.120%	$55.2M	$185.7M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,504.1	+0.035%	$248.7M	$794.2M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,504	+0.030%	$103.4M	$57.5M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,503.8	+0.017%	$161.8M	$289.5M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,503	−0.038%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,498.8	−0.312%	$49.0M	$34.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,499.3	−0.280%	$574K	$9.0M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,497.4	−0.408%	$3.1M	$510K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,501.6	−0.128%	$413K	$941K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,498.9	−0.308%	$56K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,500.9	−0.175%	$360K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,503.5	−0.004%	$165K	$184K	20x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,504.3	+0.053%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,503	−0.038%	$256K	$3.6M	10x	as long as short
HTX ZEC-USDTshort	+0.0100%	8h	1,502.9	−0.041%	$2.7M	$20.4M	75x
Phemex ZECUSDT	+0.0100%	8h	1,503.2	−0.019%	$4.0M	$5.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,499.6	−0.258%	$62K	$43K	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,502.5	−0.066%	$2.8M	$7.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,502.7	−0.054%	$43K	$152K	20x	as long as short
01 Exchange ZECUSD	+0.0128%	1h	1,500.8	−0.179%	$8K	$7K	5x	as long as short
RISEx ZEC/USDC	+0.0129%	1h	1,502.2	−0.087%	$940K	$1.1M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0133% / S −0.0126%	1h	1,502.1	−0.098%	$398K	—	100x	as long as short
Phoenix ZEC	+0.0134%	1h	1,501.5	−0.136%	$4.8M	$1.4M	10x	as long as short
Deribit ZEC_USDC-PERPETUALlong	+0.0180%	1h	1,503.5	long leg	$687K	$1.4M	25x
Hyperliquid ZEC	+0.0200%	1h	1,501.1	−0.162%	$780.9M	$444.4M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0211%	1h	1,500.2	−0.220%	$2.4M	$3.9M	15x	as long as short
Arcus ZEC-USD	+0.0221%	1h	1,500.9	−0.176%	$612K	$8.7M	10x	as long as short
Lighter RH ZEC	+0.0248%	1h	1,505	+0.095%	$2.1M	$7.4M	10x	as long as short
Lighter ZEC	+0.0304%	1h	1,504.5	+0.063%	$19.8M	$46.3M	20x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0480%	1h	1,503	−0.035%	$3.7M	$10.1M	50x	as long as short