Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0180%/8h= +19.7% APRpaid last 24h +0.029%

Price spread now: Variational Omni against Hotstuff−0.491%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 Variational Omni

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 · Variational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. Variational Omni is 0.491% cheaper against Hotstuff than usual: you would sell low and buy high (spread −0.491% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$49 on $10k: about 9.1 days of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff ZEC-PERP	1,516.6	−0.0080	get 0.0010% / 1h	53m 05s	$6K	$1K	10x
Short	Variational Omni ZEC	1,509.2	0.0100	get 0.0100% / 8h	7h 53m	$49.7M	$35.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.491%Rate

Funding earned: $37.8
Price spread: −0.491% → 0.000%: −$49.08
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$16.28
Costs to cover: 0.050%
Break-even: 10.0 days

Slippage unknown: Hotstuff: no order-book sample; Variational Omni: RFQ quote, 1 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 Variational Omni RFQ quote, 1 min ago	2.77 bp	doesn't fit	5.9 bp −$59	17.0 bp −$1,700	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	−0.3702%	1h	1,494.3	−1.472%	$36K	$275K	12x	as long as short
Bulk ZEC-USD	−0.0463%	1h	1,515.3	−0.090%	$779K	$147K	10x	as long as short
Perpl ZEC	−0.0447%	43m	1,512.8	−0.254%	$62K	$305K	10x	as long as short
BloFin ZEC-USDT	−0.0163%	8h	1,517.2	+0.035%	$31.8M	$77.1M	75x	as long as short
Aftermath Perps ZECUSD	−0.0123%	1h	1,513.8	−0.186%	$48K	$59K	10x	as long as short
Hotstuff ZEC-PERPlong	−0.0080%	1h	1,516.6	long leg	$6K	$1K	10x
dYdX ZEC-USD	0.0000%	1h	1,512.7	−0.258%	$420K	$34K	5x	as long as short
01 Exchange ZECUSD	0.0000%	1h	1,513.5	−0.204%	$8K	$6K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,514.6	−0.136%	$1.6M	$5.0M	2.2x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,516	−0.044%	$5.4M	—	150x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_ZECUSD	+0.0019%	1h	1,514.8	−0.118%	$18.3M	$47.8M	25x	as long as short
Gate ZEC_USDT	+0.0069%	8h	1,515.9	−0.049%	$60.0M	$183.1M	75x	as long as short
Phoenix ZEC	+0.0082%	1h	1,514.7	−0.131%	$4.8M	$1.4M	10x	as long as short
Orderly PERP_ZEC_USDC	+0.0084%	8h	1,514	−0.175%	$306K	$860K	20x	as long as short
Lighter ZEC	+0.0096%	1h	1,515.4	−0.078%	$19.6M	$44.4M	20x	as long as short
Lighter RH ZEC	+0.0096%	1h	1,517.7	+0.073%	$2.1M	$7.4M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,514.4	−0.150%	$172K	$1.8M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,513.3	−0.222%	$62K	$19K	10x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,513.9	−0.183%	$16K	$902K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,514.5	−0.144%	$3.1M	$7.7M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,517	+0.022%	$793.6M	$446.1M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,515.7	−0.064%	$14.2M	$31.0M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,512.9	−0.249%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,516.5	−0.012%	$716.4M	$2.34B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,515.6	−0.069%	$273.4M	$631.1M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,516.4	−0.017%	$183.3M	$1.38B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,509.5	−0.470%	$413K	$553K	5x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,513.9	−0.182%	$597K	$9.0M	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,514.9	−0.115%	$414.1M	$826.4M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,516.5	−0.010%	$103.6M	$57.4M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,516.5	−0.009%	$163.8M	$294.8M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,516.3	−0.025%	—	$120.1M	—	as long as short
Variational Omni ZECshort	+0.0100%	8h	1,509.2	−0.491%	$49.7M	$35.6M	—
edgeX ZECUSDC	+0.0100%	4h	1,512.9	−0.245%	$580K	$9.1M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,519.6	+0.197%	$3.1M	$519K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,517.6	+0.061%	$417K	$950K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,518.7	+0.138%	$51K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,514.6	−0.134%	$376K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,514.2	−0.159%	$169K	$194K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,512.3	−0.285%	$452K	$408K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,516.5	−0.011%	$4K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,514.2	−0.158%	$256K	$3.6M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,514	−0.171%	$2.7M	$21.3M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,517	+0.022%	$4.1M	$4.9M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,516.4	−0.013%	$2.8M	$8.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,514.1	−0.169%	$43K	$150K	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0134%	1h	1,515.1	−0.100%	$692K	$1.4M	25x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0153% / S −0.0154%	1h	1,513.9	−0.178%	$336K	—	100x	as long as short
RISEx ZEC/USDC	+0.0157%	1h	1,513.5	−0.205%	$965K	$1.1M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0368%	1h	1,515.1	−0.100%	$3.7M	$9.9M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0468%	1h	1,516.7	+0.001%	$2.4M	$3.8M	15x	as long as short