Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.3421%/8h= +374.5% APRpaid last 24h +0.502%

Price spread now: HTX against Injective−0.045%7-day average −0.112% · you buy dearer than you sell

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

Long on Injective Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+2.021%+$202 on $10k

Price spread, last 3 days (all we have)+0.248%+$25 · spread now −0.045%, 7d avg −0.112%

Together, before fees+2.269%+$227 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$103 a day on $10k at the current rate, and HTX is 0.066% dearer against Injective than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.112%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 2.021% in total (about 105.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective ZEC/USDC PERP	1,475.3	−0.3321	get 0.0415% / 1h	49m 06s	$34K	$275K	12x
Short	HTX ZEC-USDT	1,474.6	0.0100	get 0.0100% / 8h	7h 49m	$2.5M	$22.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Injective. 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 InjectivebpFee HTXbpOrdersPrice spread, now −0.045%Rate

Funding earned: $718.31
Price spread: −0.045% → −0.112%: $6.61
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee HTX: 6 bp × 2 orders: −$12
Net: $712.9
Costs to cover: 0.120%
Break-even: 0.1 days

Slippage unknown: Injective: live order book, 25 min ago; HTX: live order book, 5 min ago. 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 Injective live order book, 25 min ago	61.95 bp	2506077.0 bp −$2.51M	24342020.0 bp −$243.42M	235923488.0 bp −$23592.35M	1159988224.0 bp −$579994.11M
Sell HTX live order book, 5 min ago	2.34 bp	9.1 bp −$9	13.7 bp −$137	29.0 bp −$2,897	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 PERPlong	−0.3321%	1h	1,475.3	long leg	$34K	$275K	12x
Kraken Futures PF_ZECUSD	−0.0342%	1h	1,474.9	−0.024%	$18.0M	$43.5M	25x	as long as short
Ondo Perps ZEC-USD.P	−0.0175%	1h	1,474.7	−0.037%	$400K	$517K	5x	as long as short
BloFin ZEC-USDT	−0.0103%	8h	1,474.7	−0.040%	$29.5M	$74.4M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,474.4	−0.055%	$6K	$2K	10x	as long as short
Variational Omni ZEC	−0.0061%	8h	1,473.2	−0.139%	$47.9M	$34.4M	—	as long as short
Bybit ZECUSDT	−0.0021%	8h	1,474.5	−0.052%	$275.3M	$645.5M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,474.3	−0.066%	$415K	$104K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,475.1	−0.014%	$960K	$5.6M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,473.8	−0.100%	$84K	$405K	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	1,474.5	−0.051%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0015%	8h	1,474.6	−0.047%	$294K	$1.4M	20x	as long as short
OKX ZEC-USDT-SWAP	+0.0041%	8h	1,474.5	−0.051%	$182.1M	$1.33B	50x	as long as short
01 Exchange ZECUSD	+0.0048%	1h	1,475.1	−0.007%	$8K	$8K	5x	as long as short
Phoenix ZEC	+0.0054%	1h	1,474.9	−0.025%	$4.7M	$1.6M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0055% / S −0.0010%	1h	1,474.5	−0.052%	$379K	—	100x	as long as short
Lighter ZEC	+0.0096%	1h	1,476.8	+0.104%	$19.2M	$50.2M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,474.5	−0.050%	$175K	$1.9M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,474.2	−0.071%	$13K	$850K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,473.9	−0.093%	$61K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,474.5	−0.052%	$2.6M	$6.7M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,477	+0.119%	$766.0M	$459.4M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,475.2	−0.001%	$15.0M	$32.2M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,474.6	−0.045%	$1.7M	$2.9M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,475.2	−0.001%	$685.1M	$2.43B	75x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,475.9	+0.045%	$690K	$8.5M	10x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,470.8	−0.305%	$895K	$33K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,475.7	+0.031%	$51.5M	$178.2M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,475.6	+0.020%	$232.3M	$821.9M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,474.9	−0.022%	$105.2M	$56.2M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,475.7	+0.030%	$164.1M	$298.5M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,475.7	+0.031%	—	$101.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,475.8	+0.039%	$575K	$9.2M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,477.2	+0.134%	$3.0M	$454K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,474.3	−0.065%	$431K	$858K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,475.6	+0.025%	$110K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,474	−0.085%	$334K	$1.9M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,474.2	−0.069%	$128K	$159K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,472.8	−0.166%	$459K	$509K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,476.4	+0.079%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,474.9	−0.026%	$243K	$4.3M	10x	as long as short
HTX ZEC-USDTshort	+0.0100%	8h	1,474.6	−0.045%	$2.5M	$22.2M	75x
Phemex ZECUSDT	+0.0100%	8h	1,475.7	+0.031%	$3.9M	$5.4M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,475	−0.015%	$3.2M	$7.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,471.2	−0.275%	$82K	$190K	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0186%	1h	1,475.6	+0.023%	$615K	$1.3M	25x	as long as short
RISEx ZEC/USDC	+0.0228%	1h	1,475.2	−0.006%	$843K	$1.2M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0448%	1h	1,477	+0.115%	$3.8M	$10.5M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0625%	1h	1,476.1	+0.058%	$2.5M	$3.8M	15x	as long as short
Lighter RH ZEC	+0.0696%	1h	1,477.3	+0.137%	$2.0M	$8.0M	10x	as long as short
Aftermath Perps ZECUSD	+0.0785%	1h	1,475.4	+0.013%	$44K	$48K	10x	as long as short