Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0396%/8h= +43.4% APRpaid last 24h +0.075%

Price spread now: Coinbase International against HTX−0.143%7-day average +0.155% · you buy dearer than you sell

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

costs, in and out, $10k−$440.439% 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+0.314%+$31 on $10k

Price spread, last 4 days (all we have)+0.374%+$37 · spread now −0.143%, 7d avg +0.155%

Together, before fees+0.688%+$69 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.298% cheaper against HTX than usual: you would sell low and buy high (spread −0.143% now, against its 7-day average of +0.155%). If the spread goes back, that is −$30 on $10k: about 2.5 days of funding at the current rate (+$12 a day). At the pace of the last 7 days (+0.314% in total) that is about 6.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ZEC-USDT	1,471.7	0.0100	pay 0.0100% / 8h	2h 31m	$2.7M	$18.3M	75x
Short	Coinbase International ZEC-PERP-INTX	1,469.6	0.0496	get 0.0062% / 1h	31m 39s	$3.7M	$9.2M	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 −0.143%Rate

Funding earned: $83.16
Price spread: −0.143% → +0.155%: −$29.83
Slippage, 4 orders: −$21.88
Fee HTX: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $9.45
Costs to cover: 0.439%
Break-even: 6.2 days

Slippage from HTX: live order book, 2 min ago; Coinbase International: 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 HTX live order book, 2 min ago	1.91 bp	8.3 bp −$8	12.6 bp −$126	37.5 bp −$3,754	doesn't fit
Sell Coinbase International live order book, 2 min ago	2.24 bp	13.7 bp −$14	17.8 bp −$178	50.1 bp −$5,013	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	−0.3243%	1h	1,450	−1.477%	$33K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,470.4	−0.085%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0079%	8h	1,470.5	−0.079%	$29.8M	$71.1M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,472.1	+0.029%	$409K	$37K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,472.9	+0.084%	$1.5M	$4.4M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,472.1	+0.031%	$84K	$239K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,472.6	+0.062%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0062%	8h	1,472.6	+0.063%	$294K	$896K	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0062%	1h	1,473.3	+0.107%	$620K	$1.3M	25x	as long as short
01 Exchange ZECUSD	+0.0064%	1h	1,472.8	+0.077%	$8K	$7K	5x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ZECUSDT	+0.0090%	8h	1,471.3	−0.025%	$261.5M	$588.4M	75x	as long as short
Phoenix ZEC	+0.0092%	1h	1,466.5	−0.353%	$4.7M	$1.3M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,472.7	+0.067%	$174K	$1.6M	50x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0097% / S −0.0051%	1h	1,472.4	+0.052%	$439K	—	100x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,471.3	−0.027%	$13K	$812K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,471.6	−0.005%	$61K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,473.1	+0.100%	$2.9M	$6.3M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,472.7	+0.069%	$766.9M	$419.0M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,471.6	−0.004%	$14.4M	$28.0M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,472	+0.019%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,471.7	+0.003%	$679.1M	$2.16B	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,471.6	−0.008%	$178.6M	$1.21B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,466.9	−0.325%	$399K	$430K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,472.4	+0.050%	$889K	$15K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,471.7	−0.001%	$53.4M	$171.2M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,471.8	+0.007%	$222.4M	$762.3M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,471.9	+0.014%	$103.5M	$52.6M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,471.7	+0.003%	$166.7M	$267.6M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,471.9	+0.017%	—	$107.9M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,470.5	−0.078%	$48.2M	$32.4M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,469.9	−0.118%	$555K	$8.5M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,469.8	−0.130%	$3.0M	$467K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,470	−0.116%	$406K	$926K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,469.7	−0.134%	$49K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,472.6	+0.063%	$361K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,472.3	+0.044%	$162K	$186K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,471.4	−0.019%	$449K	$506K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,475.1	+0.230%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,472.5	+0.058%	$235K	$3.2M	10x	as long as short
HTX ZEC-USDTlong	+0.0100%	8h	1,471.7	long leg	$2.7M	$18.3M	75x
Phemex ZECUSDT	+0.0100%	8h	1,473	+0.086%	$3.9M	$4.8M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,471.7	+0.002%	$2.8M	$7.8M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,472.5	+0.055%	$46K	$152K	20x	as long as short
Lighter RH ZEC	+0.0120%	1h	1,472.9	+0.080%	$2.1M	$7.1M	10x	as long as short
Kraken Futures PF_ZECUSD	+0.0146%	1h	1,472.6	+0.060%	$18.0M	$45.6M	25x	as long as short
RISEx ZEC/USDC	+0.0154%	1h	1,471.9	+0.012%	$929K	$1.1M	10x	as long as short
Lighter ZEC	+0.0168%	1h	1,472.9	+0.083%	$19.5M	$44.0M	20x	as long as short
Backpack ZEC_USDC_PERP	+0.0359%	1h	1,474.1	+0.162%	$2.4M	$3.7M	15x	as long as short
Coinbase International ZEC-PERP-INTXshort	+0.0496%	1h	1,469.6	−0.143%	$3.7M	$9.2M	50x
Arcus ZEC-USD	+0.0508%	1h	1,473.2	+0.102%	$665K	$8.1M	10x	as long as short
Aftermath Perps ZECUSD	+0.0689%	1h	1,469.3	−0.161%	$45K	$49K	10x	as long as short