Funding arb · Price arb /

ZEC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:22 UTC−0.0080%/8h= −8.8% APRpaid last 24h −0.029%

Price spread now: Hotstuff against Perpl+0.047%7-day average — · you sell dearer than you buy

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

Long on Perpl 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 airdropPerpl: Active · Hotstuff: Active · farm boardneeds both histories

The price spread pays, funding is against you. Hotstuff is 0.047% dearer against Perpl than usual: you sell high and buy low (spread +0.047% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 47 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Perpl ZEC	1,456.8	0	get 0.0000% / 43m	42m 02s	$83K	$241K	10x
Short	Hotstuff ZEC-PERP	1,457.5	−0.0080	pay 0.0010% / 1h	11m 02s	$6K	$1K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against Perpl. 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 PerplbpFee HotstuffbpOrdersPrice spread, now +0.047%Rate

Funding earned: −$16.8
Price spread: +0.047% → 0.000%: $4.67
Slippage, 4 orders: no order book: not counted
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$30.93
Costs to cover: 0.188%
Break-even: never at this rate

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

Perpl 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	−0.3244%	1h	1,441.1	−1.074%	$33K	$272K	12x	as long as short
BloFin ZEC-USDT	−0.0084%	8h	1,457.8	+0.069%	$29.4M	$70.8M	75x	as long as short
Hotstuff ZEC-PERPshort	−0.0080%	1h	1,457.5	+0.047%	$6K	$1K	10x
dYdX ZEC-USD	0.0000%	1h	1,456.9	+0.010%	$410K	$42K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,458.3	+0.102%	$1.5M	$4.5M	2.2x	as long as short
Perpl ZEClong	0.0000%	43m	1,456.8	long leg	$83K	$241K	10x
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,457.9	+0.073%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0052%	8h	1,458.4	+0.108%	$292K	$966K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0061% / S −0.0011%	1h	1,457.5	+0.051%	$409K	—	100x	as long as short
Phoenix ZEC	+0.0074%	1h	1,458.4	+0.111%	$4.6M	$1.4M	10x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex ZECUSDT	+0.0096%	1h	1,457.3	+0.033%	$173K	$1.7M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,457	+0.018%	$13K	$867K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,457.3	+0.037%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,457.5	+0.050%	$2.6M	$6.3M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,459.2	+0.166%	$758.2M	$434.8M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,458.2	+0.095%	$14.5M	$28.1M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,457.5	+0.051%	$1.7M	$2.5M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,457.3	+0.039%	$668.2M	$2.23B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,456.8	−0.002%	$263.1M	$605.0M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,457.2	+0.029%	$178.3M	$1.23B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,455.3	−0.102%	$396K	$437K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,457.5	+0.046%	$883K	$21K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,457.8	+0.071%	$50.2M	$175.2M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,458.3	+0.104%	$214.0M	$780.6M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,458.1	+0.090%	$102.2M	$55.6M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,458.3	+0.104%	$162.1M	$273.4M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,456.5	−0.018%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,456.4	−0.027%	$47.6M	$32.8M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,456.7	−0.006%	$567K	$8.7M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,456.6	−0.012%	$3.0M	$432K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,456.2	−0.041%	$410K	$911K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,456.6	−0.014%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,457	+0.015%	$369K	$1.9M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,457.8	+0.071%	$160K	$185K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,456.9	+0.010%	$445K	$521K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,460	+0.218%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,457.7	+0.060%	$233K	$3.4M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,456.8	−0.002%	$2.7M	$18.2M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,458	+0.082%	$3.8M	$5.1M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,458.3	+0.104%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,457.8	+0.070%	$47K	$153K	20x	as long as short
Backpack ZEC_USDC_PERP	+0.0106%	1h	1,458.9	+0.142%	$2.4M	$3.8M	15x	as long as short
01 Exchange ZECUSD	+0.0144%	1h	1,457.6	+0.055%	$8K	$7K	5x	as long as short
Kraken Futures PF_ZECUSD	+0.0195%	1h	1,457.6	+0.058%	$18.0M	$44.6M	25x	as long as short
Lighter ZEC	+0.0248%	1h	1,459.1	+0.158%	$19.1M	$46.7M	20x	as long as short
Arcus ZEC-USD	+0.0277%	1h	1,458.6	+0.123%	$714K	$8.5M	10x	as long as short
Lighter RH ZEC	+0.0368%	1h	1,459.7	+0.200%	$2.0M	$6.9M	10x	as long as short
RISEx ZEC/USDC	+0.0409%	1h	1,457.8	+0.069%	$834K	$1.0M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0456%	1h	1,459.8	+0.207%	$3.7M	$9.1M	50x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0476%	1h	1,459.5	+0.184%	$613K	$1.3M	25x	as long as short
Aftermath Perps ZECUSD	+0.0690%	1h	1,458.7	+0.131%	$45K	$49K	10x	as long as short