Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0160%/8h= +17.5% APRpaid last 24h −0.001%

Price spread now: Deribit against HTX+0.278%7-day average +0.093% · you sell dearer than you buy

Net, funding: paid 7d − costs−$11as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$370.372% of the position

Long on HTX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.260%+$26 on $10k

Price spread, last 4 days (all we have)−0.077%−$8 · spread now +0.278%, 7d avg +0.093%

Together, before fees+0.183%+$18 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Deribit is 0.185% dearer against HTX than usual: you sell high and buy low: +$19 more if the spread goes back to its 7-day average of +0.093%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ZEC-USDT	1,514.6	0.0100	pay 0.0100% / 8h	7h 47m	$2.7M	$21.3M	75x
Short	Deribit ZEC_USDC-PERPETUAL	1,518.8	0.0260	get 0.0032% / 1h	47m 54s	$694K	$1.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against HTX. 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 HTXbpFee DeribitbpOrdersPrice spread, now +0.278%Rate

Funding earned: $33.53
Price spread: +0.278% → +0.093%: $18.51
Slippage, 4 orders: −$18.23
Fee HTX: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $14.8
Costs to cover: 0.372%
Break-even: 3.9 days

Slippage from HTX: live order book, 1 min ago; Deribit: live order book, 1 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 HTX live order book, 1 min ago	2.71 bp	9.7 bp −$10	16.5 bp −$165	40.2 bp −$4,022	doesn't fit
Sell Deribit live order book, 1 min ago	5.21 bp	8.7 bp −$9	15.0 bp −$150	doesn't fit	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	−0.3702%	1h	1,494.3	−1.342%	$36K	$275K	12x	as long as short
Perpl ZEC	−0.0447%	43m	1,515.5	+0.059%	$62K	$305K	10x	as long as short
ApeX Omni ZECUSDT	−0.0275%	1h	1,515.6	+0.061%	$416K	$951K	50x	as long as short
BloFin ZEC-USDT	−0.0161%	8h	1,518.4	+0.252%	$31.8M	$77.2M	75x	as long as short
Aftermath Perps ZECUSD	−0.0133%	1h	1,516.2	+0.101%	$48K	$59K	10x	as long as short
Bulk ZEC-USD	−0.0101%	1h	1,517.9	+0.216%	$781K	$147K	10x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,519.7	+0.334%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,516.3	+0.107%	$421K	$34K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,516.8	+0.143%	$1.6M	$5.0M	2.2x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,518.4	+0.246%	$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	1,517.7	+0.204%	$18.4M	$47.7M	25x	as long as short
01 Exchange ZECUSD	+0.0024%	1h	1,516.6	+0.128%	$8K	$6K	5x	as long as short
Phoenix ZEC	+0.0082%	1h	1,518.9	+0.279%	$4.8M	$1.4M	10x	as long as short
Orderly PERP_ZEC_USDC	+0.0084%	8h	1,518.1	+0.227%	$306K	$861K	20x	as long as short
Lighter ZEC	+0.0096%	1h	1,518.6	+0.259%	$19.6M	$44.5M	20x	as long as short
Lighter RH ZEC	+0.0096%	1h	1,518.7	+0.267%	$2.1M	$7.4M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,516.5	+0.125%	$173K	$1.8M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,515.9	+0.082%	$62K	$19K	10x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,516.3	+0.112%	$16K	$900K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,516	+0.089%	$3.1M	$7.7M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,518.4	+0.249%	$795.2M	$448.5M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,516.3	+0.109%	$14.2M	$30.9M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,516	+0.090%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,517	+0.159%	$717.1M	$2.33B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,516.2	+0.105%	$272.6M	$629.1M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,517.4	+0.184%	$186.0M	$1.39B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,516.8	+0.143%	$413K	$548K	5x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,516.6	+0.130%	$597K	$9.0M	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,516.8	+0.143%	$60.4M	$183.7M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,517	+0.158%	$409.7M	$829.2M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,517.2	+0.171%	$103.7M	$57.4M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,517.6	+0.196%	$163.7M	$294.9M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,517	+0.156%	—	$120.2M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,517.7	+0.204%	$50.1M	$35.8M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,514	−0.041%	$565K	$9.2M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,516.8	+0.145%	$3.1M	$519K	10x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,519.3	+0.308%	$51K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,516.7	+0.137%	$377K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,517.6	+0.195%	$170K	$194K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,516.9	+0.149%	$453K	$408K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,519.7	+0.333%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,517.5	+0.188%	$257K	$3.6M	10x	as long as short
HTX ZEC-USDTlong	+0.0100%	8h	1,514.6	long leg	$2.7M	$21.3M	75x
Phemex ZECUSDT	+0.0100%	8h	1,517.9	+0.213%	$4.1M	$4.9M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,517.1	+0.164%	$2.8M	$8.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,517.7	+0.201%	$43K	$150K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0155% / S −0.0157%	1h	1,518.5	+0.254%	$337K	—	100x	as long as short
RISEx ZEC/USDC	+0.0157%	1h	1,516.3	+0.113%	$967K	$1.1M	10x	as long as short
Deribit ZEC_USDC-PERPETUALshort	+0.0260%	1h	1,518.8	+0.278%	$694K	$1.4M	25x
Coinbase International ZEC-PERP-INTX	+0.0368%	1h	1,518.8	+0.275%	$3.8M	$10.0M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0554%	1h	1,518.3	+0.239%	$2.4M	$3.8M	15x	as long as short