Funding arb · Price arb /

ZEC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0178%/8h= −19.5% APRpaid last 24h −0.053%

Price spread now: Hotstuff against Katana Perps+0.009%7-day average — · you sell dearer than you buy

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

Long on Katana Perps Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 4 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 · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps ZEC-USD	1,496.5	0.0098	pay 0.0098% / 8h	37m 44s	$14K	$878K	10x
Short	Hotstuff ZEC-PERP	1,496.7	−0.0080	pay 0.0010% / 1h	37m 44s	$6K	$1K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against Katana Perps. 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 Katana PerpsbpFee HotstuffbpOrdersPrice spread, now +0.009%Rate

Funding earned: −$37.33
Price spread: +0.009% → 0.000%: $0.87
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$45.26
Costs to cover: 0.088%
Break-even: never at this rate

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

Katana Perps and Hotstuff: 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	−0.3442%	1h	1,504.2	+0.512%	$37K	$275K	12x	as long as short
Perpl ZEC	−0.0447%	43m	1,499.4	+0.189%	$61K	$304K	10x	as long as short
BloFin ZEC-USDT	−0.0166%	8h	1,503.7	+0.478%	$30.9M	$75.9M	75x	as long as short
Hotstuff ZEC-PERPshort	−0.0080%	1h	1,496.7	+0.009%	$6K	$1K	10x
Aftermath Perps ZECUSD	−0.0078%	1h	1,501.7	+0.343%	$48K	$59K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,496.6	+0.004%	$416K	$35K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,502.3	+0.385%	$1.5M	$4.4M	2.2x	as long as short
Deribit ZEC_USDC-PERPETUAL	0.0000%	1h	1,499.4	+0.193%	$685K	$1.4M	25x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,499.1	+0.171%	$5.3M	—	150x	as long as short
Kraken Futures PF_ZECUSD	+0.0012%	1h	1,498.8	+0.153%	$18.0M	$47.2M	25x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bulk ZEC-USD	+0.0021%	1h	1,505.9	+0.626%	$910K	$2K	10x	as long as short
Ondo Perps ZEC-USD.P	+0.0054%	1h	1,500.8	+0.286%	$411K	$563K	5x	as long as short
Orderly PERP_ZEC_USDC	+0.0083%	8h	1,498.6	+0.141%	$302K	$1.1M	20x	as long as short
Phoenix ZEC	+0.0096%	1h	1,505.2	+0.579%	$4.8M	$1.4M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,496	−0.034%	$175K	$1.8M	50x	as long as short
Katana Perps ZEC-USDlong	+0.0098%	8h	1,496.5	long leg	$14K	$878K	10x
Paradex ZEC-USD-PERP	+0.0100%	8h	1,496	−0.036%	$62K	$32K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,501.6	+0.338%	$3.1M	$7.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,498	+0.099%	$782.7M	$444.3M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,496.4	−0.007%	$14.0M	$31.2M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,496.9	+0.027%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,496.5	−0.003%	$700.1M	$2.31B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,495.9	−0.041%	$269.2M	$623.5M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,495.9	−0.042%	$184.3M	$1.34B	50x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,496.2	−0.024%	$56.1M	$183.7M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,496.6	+0.008%	$236.2M	$795.9M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,496.4	−0.005%	$103.0M	$57.1M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,496.2	−0.019%	$161.6M	$290.1M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,495.8	−0.050%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,503	+0.430%	$49.1M	$34.6M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,503.5	+0.469%	$575K	$9.0M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,505.6	+0.607%	$3.1M	$507K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,504.4	+0.527%	$414K	$946K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,503.1	+0.438%	$56K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,500.8	+0.286%	$359K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,499.4	+0.192%	$165K	$184K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,498.1	+0.107%	$457K	$489K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,501.9	+0.358%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,498.6	+0.136%	$253K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,498.3	+0.116%	$2.7M	$20.7M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,499.4	+0.190%	$4.0M	$4.9M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,496.2	−0.020%	$2.8M	$7.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,498.9	+0.160%	$43K	$151K	20x	as long as short
Lighter RH ZEC	+0.0112%	1h	1,497.7	+0.080%	$2.1M	$7.4M	10x	as long as short
01 Exchange ZECUSD	+0.0112%	1h	1,496.1	−0.027%	$8K	$6K	5x	as long as short
RISEx ZEC/USDC	+0.0128%	1h	1,496.2	−0.024%	$942K	$1.1M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0163% / S −0.0203%	1h	1,499.3	+0.187%	$436K	—	100x	as long as short
Lighter ZEC	+0.0208%	1h	1,497.8	+0.087%	$19.8M	$45.4M	20x	as long as short
Arcus ZEC-USD	+0.0403%	1h	1,497	+0.031%	$611K	$8.8M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0416%	1h	1,501.5	+0.333%	$3.7M	$10.2M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0552%	1h	1,499.1	+0.172%	$2.3M	$3.9M	15x	as long as short