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: HTX against Coinbase International−0.288%7-day average −0.155% · you buy dearer than you sell

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$490.490% of the position

Long on Coinbase International Short on HTX

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)+0.057%+$6 · spread now −0.288%, 7d avg −0.155%

Together, before fees−0.257%−$26 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and HTX is 0.133% cheaper against Coinbase International than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.155%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ZEC-PERP-INTX	1,501.4	0.0496	pay 0.0062% / 1h	8m 41s	$3.7M	$9.9M	50x
Short	HTX ZEC-USDT	1,497	0.0100	get 0.0100% / 8h	2h 08m	$2.6M	$19.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Coinbase International. 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 Coinbase InternationalbpFee HTXbpOrdersPrice spread, now −0.288%Rate

Funding earned: −$83.16
Price spread: −0.288% → −0.155%: −$13.28
Slippage, 4 orders: −$26.97
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$145.41
Costs to cover: 0.490%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 5 min ago; HTX: live order book, 5 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 Coinbase International live order book, 5 min ago	1.42 bp	14.2 bp −$14	17.1 bp −$171	55.1 bp −$5,507	doesn't fit
Sell HTX live order book, 5 min ago	4.07 bp	10.1 bp −$10	15.9 bp −$159	37.7 bp −$3,774	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	1,491.6	−0.650%	$34K	$273K	12x	as long as short
Bulk ZEC-USD	−0.0279%	1h	1,512.6	+0.749%	$914K	$15K	10x	as long as short
BloFin ZEC-USDT	−0.0132%	8h	1,496.4	−0.329%	$30.1M	$73.7M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,496.2	−0.345%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,496.6	−0.318%	$416K	$35K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,499.9	−0.097%	$1.7M	$4.6M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,501.6	+0.017%	$86K	$239K	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	0.0000%	1h	1,500.9	−0.028%	$711K	$1.4M	25x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,500.5	−0.059%	$5.3M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0068%	8h	1,500.6	−0.049%	$302K	$1.1M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange ZECUSD	+0.0088%	1h	1,498.2	−0.211%	$8K	$7K	5x	as long as short
Phoenix ZEC	+0.0092%	1h	1,512.3	+0.728%	$4.8M	$1.3M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,502.3	+0.061%	$151K	$1.7M	50x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,502.5	+0.078%	$2.9M	$6.5M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,496.8	−0.304%	$780.7M	$436.9M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,496.7	−0.313%	$14.4M	$29.4M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,496.8	−0.301%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,496.9	−0.300%	$695.7M	$2.26B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,497	−0.291%	$274.0M	$621.3M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,497.4	−0.264%	$182.6M	$1.30B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,505.1	+0.249%	$408K	$484K	5x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,497	−0.291%	$54.0M	$181.6M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,497.2	−0.275%	$225.8M	$782.0M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,495.7	−0.376%	$102.7M	$55.6M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,497.3	−0.270%	$161.5M	$284.1M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,497.6	−0.251%	—	$113.9M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,504.3	+0.193%	$49.1M	$33.0M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,505.7	+0.289%	$575K	$8.7M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,505.4	+0.266%	$3.1M	$475K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,504.8	+0.229%	$417K	$929K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,503.4	+0.136%	$57K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,501.2	−0.011%	$366K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,500.7	−0.043%	$165K	$184K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,499.5	−0.125%	$458K	$506K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,502.8	+0.097%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,498.5	−0.190%	$248K	$3.5M	10x	as long as short
HTX ZEC-USDTshort	+0.0100%	8h	1,497	−0.288%	$2.6M	$19.6M	75x
Phemex ZECUSDT	+0.0100%	8h	1,498.3	−0.202%	$4.0M	$5.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,497	−0.293%	$62K	$43K	10x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,498.5	−0.190%	$13K	$849K	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,497.1	−0.281%	$2.8M	$7.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,499.5	−0.121%	$46K	$149K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0107% / S −0.0081%	1h	1,500.4	−0.065%	$405K	—	100x	as long as short
Kraken Futures PF_ZECUSD	+0.0144%	1h	1,498.2	−0.213%	$18.2M	$45.9M	25x	as long as short
RISEx ZEC/USDC	+0.0154%	1h	1,498.3	−0.207%	$935K	$1.1M	10x	as long as short
Lighter RH ZEC	+0.0208%	1h	1,497.2	−0.280%	$2.1M	$7.3M	10x	as long as short
Lighter ZEC	+0.0224%	1h	1,498.2	−0.212%	$19.5M	$45.7M	20x	as long as short
Backpack ZEC_USDC_PERP	+0.0397%	1h	1,495.9	−0.366%	$2.3M	$3.8M	15x	as long as short
Aftermath Perps ZECUSD	+0.0494%	1h	1,503.5	+0.140%	$50K	$61K	10x	as long as short
Coinbase International ZEC-PERP-INTXlong	+0.0496%	1h	1,501.4	long leg	$3.7M	$9.9M	50x
Arcus ZEC-USD	+0.0508%	1h	1,498.7	−0.180%	$627K	$8.5M	10x	as long as short