Funding arb · Price arb /

ZEC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.027%

Price spread now: HTX against Hyperliquid+0.056%48s7-day average −0.046% · you sell dearer than you buy

Net, funding: paid 7d − costs−$75as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$280.283% of the position

Long on Hyperliquid Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.463%−$46 on $10k

Price spread, last 3 days (all we have)+0.109%+$11 · spread now +0.056%, 7d avg −0.046%

Together, before fees−0.354%+ Points / potential airdropHyperliquid: Season 2 · farm board−$35 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: HTX is 0.102% dearer against Hyperliquid than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of −0.046%. The two prices were read 48 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	Hyperliquid ZEC	1,468.8	0.0100	pay 0.0013% / 1h	2m 19s	$765.1M	$434.7M	10x
Short	HTX ZEC-USDT	1,469.6	0.0100	get 0.0100% / 8h	6h 02m	$2.5M	$18.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Hyperliquid. 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 HyperliquidbpFee HTXbpOrdersPrice spread, now +0.056%Rate

Funding earned: $0
Price spread: +0.056% → −0.046%: $10.18
Slippage, 4 orders: −$7.27
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee HTX: 6 bp × 2 orders: −$12
Net: −$18.09
Costs to cover: 0.283%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 12 min ago; HTX: live order book, 2 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 Hyperliquid live order book, 12 min ago	0.34 bp	4.9 bp −$5	6.8 bp −$68	doesn't fit	doesn't fit
Sell HTX live order book, 2 min ago	1.84 bp	10.6 bp −$11	13.3 bp −$133	35.5 bp −$3,548	doesn't fit

ZEC on 50 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	−0.3678%	1h	1,452	−1.142%	$33K	$274K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,470.6	+0.119%	$6K	$1K	10x	as long as short
Ondo Perps ZEC-USD.P	−0.0039%	1h	1,464.8	−0.272%	$398K	$501K	5x	as long as short
Kraken Futures PF_ZECUSD	−0.0002%	1h	1,467.8	−0.066%	$18.1M	$43.5M	25x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,468.4	−0.029%	$413K	$49K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,470.3	+0.099%	$972K	$4.7M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,467	−0.122%	$84K	$249K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,467.6	−0.080%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0031%	8h	1,467.6	−0.080%	$293K	$984K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0055% / S −0.0009%	1h	1,467.5	−0.087%	$383K	—	100x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange ZECUSD	+0.0056%	1h	1,467.3	−0.102%	$8K	$8K	5x	as long as short
Phoenix ZEC	+0.0070%	1h	1,466.6	−0.149%	$4.6M	$1.5M	10x	as long as short
Variational Omni ZEC	+0.0072%	8h	1,466.6	−0.148%	$47.9M	$32.6M	—	as long as short
OKX ZEC-USDT-SWAP	+0.0093%	8h	1,467.7	−0.076%	$180.9M	$1.24B	50x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,467.1	−0.116%	$173K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,466.8	−0.139%	$17K	$844K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,467.4	−0.098%	$60K	$41K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,467.5	−0.087%	$2.6M	$6.5M	10x	as long as short
Hyperliquid ZEClong	+0.0100%	1h	1,468.8	long leg	$765.1M	$434.7M	10x
Aster ZECUSDT	+0.0100%	8h	1,467.5	−0.088%	$14.8M	$29.3M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,468	−0.058%	$1.7M	$2.7M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,467.5	−0.090%	$678.2M	$2.26B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,467.4	−0.093%	$271.3M	$606.9M	75x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,466.6	−0.151%	$890K	$18K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,467.5	−0.087%	$50.1M	$177.2M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,467.5	−0.091%	$216.5M	$803.1M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,467.8	−0.071%	$103.2M	$55.8M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,467.8	−0.068%	$163.0M	$276.3M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,467.7	−0.076%	—	$98.8M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,466	−0.190%	$570K	$8.9M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,468.2	−0.041%	$3.0M	$430K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,466.3	−0.171%	$426K	$884K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,470.1	+0.086%	$71K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,467	−0.123%	$343K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,467.5	−0.089%	$128K	$160K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,466.3	−0.171%	$448K	$512K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,470	+0.080%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,467.7	−0.076%	$242K	$3.5M	10x	as long as short
HTX ZEC-USDTshort	+0.0100%	8h	1,469.6	+0.056%	$2.5M	$18.2M	75x
Phemex ZECUSDT	+0.0100%	8h	1,468.2	−0.041%	$3.9M	$5.2M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,467.7	−0.072%	$2.8M	$7.6M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,467.3	−0.102%	$48K	$155K	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0160%	1h	1,468.4	−0.027%	$611K	$1.3M	25x	as long as short
Lighter ZEC	+0.0224%	1h	1,468.7	−0.006%	$19.2M	$48.3M	20x	as long as short
Arcus ZEC-USD	+0.0254%	1h	1,469.3	+0.037%	$692K	$8.5M	10x	as long as short
Lighter RH ZEC	+0.0296%	1h	1,469.4	+0.043%	$2.1M	$7.1M	10x	as long as short
RISEx ZEC/USDC	+0.0374%	1h	1,468	−0.057%	$851K	$1.0M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0418%	1h	1,469.3	+0.031%	$2.4M	$3.9M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0472%	1h	1,469.3	+0.036%	$3.6M	$9.0M	50x	as long as short
Aftermath Perps ZECUSD	+0.0733%	1h	1,468.8	+0.003%	$43K	$46K	10x	as long as short