Funding arb · Price arb /

ZEC

all ZEC markets

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: Perpl against Hotstuff−0.067%7-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 Perpl

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 · Perpl: Active · farm boardneeds both histories

Funding pays, the price is against you. Perpl is 0.067% cheaper against Hotstuff than usual: you would sell low and buy high (spread −0.067% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 2.8 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff ZEC-PERP	1,453.6	−0.0080	get 0.0010% / 1h	32m 54s	$6K	$1K	10x
Short	Perpl ZEC	1,452.6	0	get 0.0000% / 43m	20m 54s	$83K	$248K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Perpl 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 PerplbpOrdersPrice spread, now −0.067%Rate

Funding earned: $16.8
Price spread: −0.067% → 0.000%: −$6.67
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Net: −$8.67
Costs to cover: 0.188%
Break-even: 10.6 days

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

Hotstuff and Perpl: 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	1,453.2	−0.025%	$33K	$272K	12x	as long as short
BloFin ZEC-USDT	−0.0082%	8h	1,453.8	+0.016%	$29.5M	$70.8M	75x	as long as short
Hotstuff ZEC-PERPlong	−0.0080%	1h	1,453.6	long leg	$6K	$1K	10x
dYdX ZEC-USD	0.0000%	1h	1,452.8	−0.053%	$409K	$44K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,454	+0.025%	$1.4M	$5.0M	2.2x	as long as short
Perpl ZECshort	0.0000%	43m	1,452.6	−0.067%	$83K	$248K	10x
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,453.4	−0.012%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0042%	8h	1,453.6	+0.001%	$290K	$979K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0061% / S −0.0011%	1h	1,453.3	−0.017%	$408K	—	100x	as long as short
Phoenix ZEC	+0.0074%	1h	1,453.2	−0.025%	$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	1,453.5	−0.006%	$173K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,452.7	−0.061%	$14K	$854K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,453.3	−0.023%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,453.6	0.000%	$2.5M	$6.5M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,452.2	−0.096%	$754.7M	$434.6M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,452.6	−0.068%	$14.4M	$28.4M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,453.4	−0.012%	$1.7M	$2.6M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,452.4	−0.081%	$665.1M	$2.26B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,450.9	−0.184%	$265.6M	$611.2M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,451.4	−0.150%	$179.1M	$1.24B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,452.4	−0.082%	$394K	$432K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,451.2	−0.163%	$879K	$21K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,452.8	−0.052%	$49.5M	$173.0M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,452.6	−0.065%	$212.8M	$774.9M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,452.3	−0.092%	$102.0M	$56.1M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,451.3	−0.155%	$161.2M	$277.9M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,451.4	−0.152%	—	$6.7M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,453	−0.039%	$2.4M	$3.8M	15x	as long as short
Variational Omni ZEC	+0.0100%	8h	1,448.7	−0.336%	$46.8M	$32.3M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,451	−0.175%	$565K	$8.9M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,453.8	+0.016%	$3.0M	$419K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,452.9	−0.047%	$408K	$905K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,452.9	−0.050%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,453.1	−0.034%	$323K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,453.7	+0.007%	$160K	$185K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,452.2	−0.093%	$443K	$521K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,456.1	+0.173%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,454	+0.029%	$232K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,453	−0.041%	$2.6M	$18.4M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,454.4	+0.055%	$3.8M	$5.1M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,452.4	−0.079%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,453.4	−0.016%	$47K	$156K	20x	as long as short
01 Exchange ZECUSD	+0.0120%	1h	1,454	+0.031%	$8K	$7K	5x	as long as short
Kraken Futures PF_ZECUSD	+0.0196%	1h	1,453.9	+0.021%	$17.9M	$44.5M	25x	as long as short
Lighter ZEC	+0.0200%	1h	1,455.3	+0.119%	$19.0M	$46.4M	20x	as long as short
Arcus ZEC-USD	+0.0277%	1h	1,455.5	+0.134%	$714K	$8.5M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0286%	1h	1,454.3	+0.047%	$611K	$1.3M	25x	as long as short
Lighter RH ZEC	+0.0360%	1h	1,455.9	+0.157%	$2.0M	$6.9M	10x	as long as short
RISEx ZEC/USDC	+0.0409%	1h	1,453.8	+0.013%	$829K	$1.0M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0456%	1h	1,455.1	+0.100%	$3.7M	$9.1M	50x	as long as short
Aftermath Perps ZECUSD	+0.0712%	1h	1,454.2	+0.045%	$43K	$46K	10x	as long as short