Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:29 UTC+0.0080%/8h= +8.8% APRpaid last 24h +0.016%

Price spread now: Perpl against Hotstuff−0.270%52s7-day average — · you buy dearer than you sell

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

Long on Hotstuff Short on Perpl

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

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

Funding pays, the price is against you. Perpl is 0.270% cheaper against Hotstuff than usual: you would sell low and buy high (spread −0.270% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$27 on $10k: about 11 days of funding at the current rate (+$2 a day). The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff ZEC-PERP	1,472.6	−0.0080	get 0.0010% / 1h	26m 42s	$6K	$2K	10x
Short	Perpl ZEC	1,468.6	0	get 0.0000% / 43m	22m 42s	$83K	$404K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Perpl against Hotstuff. 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 HotstuffbpFee PerplbpOrdersPrice spread, now −0.270%Rate

Funding earned: $16.8
Price spread: −0.270% → 0.000%: −$27.03
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Net: −$29.03
Costs to cover: 0.188%
Break-even: 19.1 days

Slippage unknown: Hotstuff: no order-book sample; Perpl: 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 Hotstuff no order-book sample	—	—	—	—	—
Sell Perpl no order-book sample	—	—	—	—	—

Hotstuff and Perpl: 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	−0.3089%	1h	1,471.6	−0.069%	$34K	$275K	12x	as long as short
Ondo Perps ZEC-USD.P	−0.0261%	1h	1,468.3	−0.293%	$399K	$515K	5x	as long as short
Kraken Futures PF_ZECUSD	−0.0225%	1h	1,471.5	−0.076%	$17.9M	$44.3M	25x	as long as short
Bybit ZECUSDT	−0.0115%	8h	1,471.8	−0.057%	$275.3M	$653.3M	75x	as long as short
BloFin ZEC-USDT	−0.0102%	8h	1,472.2	−0.029%	$29.8M	$75.2M	75x	as long as short
Hotstuff ZEC-PERPlong	−0.0080%	1h	1,472.6	long leg	$6K	$2K	10x
Variational Omni ZEC	−0.0057%	8h	1,468.8	−0.259%	$46.8M	$33.8M	—	as long as short
ApeX Omni ZECUSDT	−0.0006%	1h	1,470.3	−0.160%	$431K	$842K	50x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,473.1	+0.034%	$415K	$104K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,470.1	−0.167%	$903K	$5.6M	2.2x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl ZECshort	0.0000%	43m	1,468.6	−0.270%	$83K	$404K	10x
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,471.5	−0.073%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0012%	8h	1,471.3	−0.088%	$295K	$1.4M	20x	as long as short
01 Exchange ZECUSD	+0.0016%	1h	1,469.8	−0.193%	$8K	$8K	5x	as long as short
Phoenix ZEC	+0.0024%	1h	1,470.8	−0.124%	$4.6M	$1.6M	10x	as long as short
OKX ZEC-USDT-SWAP	+0.0038%	8h	1,472.2	−0.029%	$181.1M	$1.34B	50x	as long as short
Gate ZEC_USDT	+0.0045%	8h	1,472.4	−0.014%	$50.9M	$186.6M	75x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0055% / S −0.0010%	1h	1,471	−0.110%	$372K	—	100x	as long as short
Lighter ZEC	+0.0096%	1h	1,474.3	+0.113%	$19.2M	$52.4M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,469.7	−0.198%	$175K	$1.9M	50x	as long as short
Katana Perps ZEC-USD	+0.0097%	8h	1,470.2	−0.166%	$13K	$834K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,472.4	−0.017%	$61K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,469.4	−0.215%	$2.6M	$6.8M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,473.9	+0.088%	$764.2M	$474.4M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,472.7	+0.004%	$15.0M	$32.7M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,473.3	+0.044%	$1.7M	$2.9M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,472.7	+0.004%	$685.0M	$2.46B	75x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,473.1	+0.031%	$702K	$8.4M	10x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,469.8	−0.194%	$894K	$39K	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,472.8	+0.014%	$231.7M	$838.7M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,472.6	−0.004%	$103.7M	$56.0M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,472.4	−0.014%	$163.2M	$301.3M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,471.8	−0.054%	—	$102.4M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,470.6	−0.137%	$513K	$9.2M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,470.2	−0.166%	$3.0M	$454K	10x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,470.7	−0.132%	$110K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,470.2	−0.164%	$344K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,470.5	−0.141%	$128K	$159K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,469.7	−0.195%	$448K	$498K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,472.8	+0.012%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,471.2	−0.094%	$238K	$4.4M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,471	−0.109%	$2.5M	$23.1M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,472.5	−0.005%	$3.9M	$5.3M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,472.5	−0.007%	$3.3M	$6.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,471.2	−0.099%	$37K	$366K	20x	as long as short
RISEx ZEC/USDC	+0.0132%	1h	1,472	−0.043%	$825K	$1.2M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0273%	1h	1,472.4	−0.014%	$614K	$1.3M	25x	as long as short
Backpack ZEC_USDC_PERP	+0.0413%	1h	1,473.6	+0.065%	$2.4M	$3.8M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0432%	1h	1,473.5	+0.061%	$3.8M	$10.6M	50x	as long as short
Lighter RH ZEC	+0.0456%	1h	1,475.1	+0.168%	$2.0M	$8.4M	10x	as long as short
Aftermath Perps ZECUSD	+0.0714%	1h	1,472.1	−0.036%	$46K	$47K	10x	as long as short