Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0180%/8h= +19.7% APRpaid last 24h +0.054%

Price spread now: edgeX against Hotstuff−0.118%58s7-day average — · you buy dearer than you sell

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

Long on Hotstuff Short on edgeX

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 · edgeX: Active · farm boardneeds both histories

Funding pays, the price is against you. edgeX is 0.118% cheaper against Hotstuff than usual: you would sell low and buy high (spread −0.118% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$12 on $10k: about 2.2 days of funding at the current rate (+$5 a day). The two prices were read 58 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff ZEC-PERP	1,494.6	−0.0080	get 0.0010% / 1h	21m 50s	$6K	$1K	10x
Short	edgeX ZECUSDC	1,492.8	0.0100	get 0.0050% / 4h	21m 50s	$572K	$9.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Hotstuff. 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 HotstuffbpFee edgeXbpOrdersPrice spread, now −0.118%Rate

Funding earned: $37.8
Price spread: −0.118% → 0.000%: −$11.77
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $12.03
Costs to cover: 0.140%
Break-even: 4.8 days

Slippage unknown: Hotstuff: no order-book sample; edgeX: live order book, 2 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 Hotstuff no order-book sample	—	—	—	—	—
Sell edgeX live order book, 2 min ago	0.40 bp	4.9 bp −$5	7.9 bp −$79	doesn't fit	doesn't fit

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	1,478.8	−1.054%	$36K	$275K	12x	as long as short
Perpl ZEC	−0.0447%	43m	1,493	−0.108%	$61K	$303K	10x	as long as short
BloFin ZEC-USDT	−0.0144%	8h	1,494.6	+0.003%	$31.1M	$75.5M	75x	as long as short
Aftermath Perps ZECUSD	−0.0105%	1h	1,494.3	−0.015%	$48K	$58K	10x	as long as short
Hotstuff ZEC-PERPlong	−0.0080%	1h	1,494.6	long leg	$6K	$1K	10x
Bulk ZEC-USD	−0.0053%	1h	1,491.1	−0.229%	$858K	$48K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,494.9	+0.025%	$415K	$34K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,495.1	+0.033%	$1.5M	$4.4M	2.2x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,494.2	−0.023%	$5.3M	—	150x	as long as short
Kraken Futures PF_ZECUSD	+0.0012%	1h	1,494.9	+0.024%	$17.9M	$47.0M	25x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ZEC-USD.P	+0.0038%	1h	1,493.6	−0.065%	$408K	$554K	5x	as long as short
Orderly PERP_ZEC_USDC	+0.0084%	8h	1,494.7	+0.005%	$301K	$864K	20x	as long as short
01 Exchange ZECUSD	+0.0088%	1h	1,493.6	−0.062%	$8K	$6K	5x	as long as short
Phoenix ZEC	+0.0096%	1h	1,494.2	−0.024%	$4.8M	$1.4M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,493.2	−0.094%	$182K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0098%	8h	1,493.3	−0.086%	$17K	$881K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,493.5	−0.072%	$62K	$20K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,494	−0.039%	$3.1M	$7.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,495.7	+0.076%	$781.4M	$438.9M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,493.8	−0.054%	$14.0M	$30.8M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,494.7	+0.009%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,494.3	−0.017%	$700.0M	$2.30B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,494.5	−0.006%	$267.8M	$616.1M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,494.7	+0.010%	$183.8M	$1.33B	50x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,494	−0.037%	$56.5M	$185.2M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,494.6	+0.004%	$238.2M	$802.3M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,494.2	−0.022%	$102.7M	$56.3M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,494.5	−0.003%	$161.4M	$288.7M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,494.2	−0.025%	—	$116.9M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,492.9	−0.113%	$48.8M	$34.6M	—	as long as short
edgeX ZECUSDCshort	+0.0100%	4h	1,492.8	−0.118%	$572K	$9.0M	20x
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,492.1	−0.164%	$3.1M	$514K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,491.9	−0.179%	$411K	$945K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,494.4	−0.013%	$56K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,493.1	−0.098%	$357K	$1.6M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,494.1	−0.029%	$164K	$184K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,493.5	−0.072%	$456K	$469K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,496.3	+0.117%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,494.8	+0.016%	$253K	$3.4M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,493.4	−0.082%	$2.7M	$20.7M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,494.8	+0.015%	$4.0M	$4.9M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,494.3	−0.016%	$2.8M	$7.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,494.5	−0.004%	$43K	$151K	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0109%	1h	1,495.3	+0.048%	$683K	$1.4M	25x	as long as short
Lighter RH ZEC	+0.0120%	1h	1,496.2	+0.108%	$2.1M	$7.4M	10x	as long as short
RISEx ZEC/USDC	+0.0128%	1h	1,493.7	−0.057%	$940K	$1.1M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0144% / S −0.0141%	1h	1,494.5	−0.007%	$332K	—	100x	as long as short
Lighter ZEC	+0.0208%	1h	1,496.4	+0.119%	$19.8M	$45.6M	20x	as long as short
Arcus ZEC-USD	+0.0403%	1h	1,494.9	+0.021%	$617K	$8.7M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0416%	1h	1,496.6	+0.136%	$3.7M	$9.9M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0538%	1h	1,494.8	+0.013%	$2.3M	$3.8M	15x	as long as short