Funding arb · Price arb /

ZEC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0180%/8h= +19.7% APRpaid last 24h +0.053%

Price spread now: Katana Perps against Hotstuff+0.021%7-day average — · you sell dearer than you buy

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

Long on Hotstuff Short on Katana Perps

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

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Katana Perps is 0.021% dearer against Hotstuff than usual: you sell high and buy low: +$2 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff ZEC-PERP	1,503.8	−0.0080	get 0.0010% / 1h	27m 08s	$6K	$1K	10x
Short	Katana Perps ZEC-USD	1,504.2	0.0100	get 0.0100% / 8h	7h 27m	$16K	$898K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps 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 Katana PerpsbpOrdersPrice spread, now +0.021%Rate

Funding earned: $37.76
Price spread: +0.021% → 0.000%: $2.06
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: $31.02
Costs to cover: 0.088%
Break-even: 1.2 days

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

Hotstuff and Katana Perps: 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	−0.3702%	1h	1,491.4	−0.826%	$36K	$275K	12x	as long as short
Perpl ZEC	−0.0447%	43m	1,504.7	+0.057%	$62K	$305K	10x	as long as short
Aftermath Perps ZECUSD	−0.0211%	1h	1,505.1	+0.084%	$48K	$58K	10x	as long as short
BloFin ZEC-USDT	−0.0160%	8h	1,505.1	+0.082%	$31.8M	$76.5M	75x	as long as short
Hotstuff ZEC-PERPlong	−0.0080%	1h	1,503.8	long leg	$6K	$1K	10x
dYdX ZEC-USD	0.0000%	1h	1,503.7	−0.010%	$418K	$34K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,505.3	+0.094%	$1.6M	$5.0M	2.2x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,501.9	−0.130%	$5.3M	—	150x	as long as short
Kraken Futures PF_ZECUSD	+0.0019%	1h	1,505.9	+0.140%	$18.3M	$47.7M	25x	as long as short
01 Exchange ZECUSD	+0.0032%	1h	1,504.5	+0.041%	$8K	$6K	5x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix ZEC	+0.0082%	1h	1,504.2	+0.022%	$4.8M	$1.4M	10x	as long as short
Orderly PERP_ZEC_USDC	+0.0084%	8h	1,505.9	+0.137%	$304K	$860K	20x	as long as short
Lighter ZEC	+0.0096%	1h	1,506.9	+0.201%	$19.5M	$45.1M	20x	as long as short
Lighter RH ZEC	+0.0096%	1h	1,506.4	+0.172%	$2.1M	$7.5M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,504.6	+0.049%	$172K	$1.8M	50x	as long as short
Gate ZEC_USDT	+0.0097%	8h	1,504.6	+0.053%	$60.6M	$186.1M	75x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,504.4	+0.038%	$62K	$16K	10x	as long as short
Katana Perps ZEC-USDshort	+0.0100%	8h	1,504.2	+0.021%	$16K	$898K	10x
Nado ZEC-PERP	+0.0100%	1h	1,505	+0.076%	$3.1M	$7.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,505.2	+0.093%	$787.4M	$447.4M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,504.9	+0.070%	$14.2M	$30.4M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,504.5	+0.042%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,505.3	+0.099%	$710.2M	$2.33B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,504.5	+0.045%	$269.5M	$623.6M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,504.6	+0.053%	$185.0M	$1.37B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,504.9	+0.070%	$408K	$558K	5x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,505.2	+0.093%	$608K	$9.0M	10x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,503.8	−0.005%	$774K	$147K	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,505.1	+0.086%	$406.9M	$836.4M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,505.6	+0.115%	$102.9M	$57.3M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,504.8	+0.064%	$162.9M	$295.1M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,503.6	−0.017%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,502.5	−0.086%	$49.7M	$36.0M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,503.3	−0.036%	$554K	$9.2M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,502.7	−0.073%	$3.1M	$533K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,503.6	−0.019%	$413K	$952K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,502.6	−0.084%	$50K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,505.7	+0.124%	$374K	$1.6M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,506.6	+0.183%	$168K	$192K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,502	−0.121%	$449K	$419K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,508.4	+0.301%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,505.6	+0.118%	$255K	$3.6M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,504.7	+0.056%	$2.7M	$21.1M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,505.9	+0.136%	$4.0M	$4.9M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,505.7	+0.126%	$2.8M	$8.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,505.7	+0.126%	$45K	$153K	20x	as long as short
RISEx ZEC/USDC	+0.0157%	1h	1,502.3	−0.100%	$994K	$1.1M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0161% / S −0.0165%	1h	1,506.8	+0.199%	$334K	—	100x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0238%	1h	1,506.8	+0.199%	$690K	$1.4M	25x	as long as short
Backpack ZEC_USDC_PERP	+0.0240%	1h	1,505.2	+0.092%	$2.4M	$3.8M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0368%	1h	1,507.6	+0.249%	$3.8M	$10.1M	50x	as long as short