Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0348%/8h= +38.1% APRpaid last 24h +0.079%

Price spread now: Coinbase International against HTX+0.206%7-day average +0.152% · you sell dearer than you buy

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$440.440% of the position

Long on HTX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.261%+$26 on $10k

Price spread, last 3 days (all we have)+0.025%+$3 · spread now +0.206%, 7d avg +0.152%

Together, before fees+0.286%+$29 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Coinbase International is 0.054% dearer against HTX than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.152%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ZEC-USDT	1,473.7	0.0100	pay 0.0100% / 8h	7h 54m	$2.5M	$22.4M	75x
Short	Coinbase International ZEC-PERP-INTX	1,476.7	0.0448	get 0.0056% / 1h	54m 43s	$3.8M	$10.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against HTX. 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 HTXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.206%Rate

Funding earned: $73.08
Price spread: +0.206% → +0.152%: $5.4
Slippage, 4 orders: −$22.03
Fee HTX: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $34.45
Costs to cover: 0.440%
Break-even: 3.7 days

Slippage from HTX: live order book, 4 min ago; Coinbase International: 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 HTX live order book, 4 min ago	1.50 bp	10.6 bp −$11	13.6 bp −$136	35.6 bp −$3,563	122.1 bp −$61.0K
Sell Coinbase International live order book, 4 min ago	2.88 bp	11.8 bp −$12	16.1 bp −$161	48.1 bp −$4,809	doesn't fit

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	−0.3321%	1h	1,475	+0.087%	$34K	$275K	12x	as long as short
Kraken Futures PF_ZECUSD	−0.0342%	1h	1,474.4	+0.051%	$17.9M	$43.7M	25x	as long as short
Ondo Perps ZEC-USD.P	−0.0134%	1h	1,472.2	−0.101%	$399K	$516K	5x	as long as short
Bybit ZECUSDT	−0.0104%	8h	1,475.7	+0.138%	$275.5M	$648.0M	75x	as long as short
BloFin ZEC-USDT	−0.0101%	8h	1,474.7	+0.070%	$29.7M	$74.7M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,476.6	+0.199%	$6K	$2K	10x	as long as short
Variational Omni ZEC	−0.0060%	8h	1,472.4	−0.088%	$47.7M	$34.4M	—	as long as short
dYdX ZEC-USD	0.0000%	1h	1,476	+0.157%	$416K	$104K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,474.8	+0.074%	$960K	$5.6M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,473.9	+0.015%	$84K	$406K	10x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,474.1	+0.027%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0015%	8h	1,473.8	+0.005%	$294K	$1.4M	20x	as long as short
Phoenix ZEC	+0.0024%	1h	1,470.8	−0.199%	$4.7M	$1.6M	10x	as long as short
OKX ZEC-USDT-SWAP	+0.0040%	8h	1,476.4	+0.181%	$182.3M	$1.34B	50x	as long as short
01 Exchange ZECUSD	+0.0048%	1h	1,477.8	+0.276%	$8K	$8K	5x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0055% / S −0.0010%	1h	1,474	+0.021%	$372K	—	100x	as long as short
Lighter ZEC	+0.0096%	1h	1,477.7	+0.273%	$19.2M	$50.2M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,476.9	+0.218%	$175K	$1.9M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,477.6	+0.263%	$13K	$853K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,476.1	+0.167%	$61K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,474.5	+0.056%	$2.6M	$6.8M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,477.8	+0.279%	$766.3M	$459.1M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,476.6	+0.199%	$15.0M	$32.4M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,476.6	+0.198%	$1.7M	$2.9M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,476.3	+0.175%	$685.8M	$2.45B	75x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,477.6	+0.263%	$688K	$8.4M	10x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,470.8	−0.199%	$895K	$33K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,476.6	+0.194%	$51.5M	$177.7M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,476.3	+0.178%	$230.9M	$820.2M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,476.3	+0.174%	$105.3M	$56.3M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,476.6	+0.195%	$164.3M	$299.8M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,475.6	+0.132%	—	$6.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,472	−0.118%	$550K	$9.1M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,474.1	+0.028%	$3.0M	$454K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,472.7	−0.066%	$432K	$851K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,474	+0.024%	$110K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,473.6	−0.006%	$334K	$1.9M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,473.7	−0.001%	$128K	$159K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,472.1	−0.108%	$459K	$509K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,476.1	+0.162%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,474.2	+0.034%	$243K	$4.4M	10x	as long as short
HTX ZEC-USDTlong	+0.0100%	8h	1,473.7	long leg	$2.5M	$22.4M	75x
Phemex ZECUSDT	+0.0100%	8h	1,474.6	+0.064%	$3.9M	$5.4M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,476.8	+0.209%	$3.2M	$7.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,472.1	−0.110%	$29K	$203K	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0137%	1h	1,475.2	+0.101%	$615K	$1.3M	25x	as long as short
RISEx ZEC/USDC	+0.0228%	1h	1,477.3	+0.248%	$843K	$1.2M	10x	as long as short
Coinbase International ZEC-PERP-INTXshort	+0.0448%	1h	1,476.7	+0.206%	$3.8M	$10.6M	50x
Backpack ZEC_USDC_PERP	+0.0615%	1h	1,476.3	+0.179%	$2.5M	$3.8M	15x	as long as short
Lighter RH ZEC	+0.0632%	1h	1,478.3	+0.313%	$2.0M	$8.0M	10x	as long as short
Aftermath Perps ZECUSD	+0.0776%	1h	1,473.8	+0.008%	$46K	$46K	10x	as long as short