Funding arb · Price arb /

ZEC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.017%

Price spread now: OKX against Hyperliquid−0.071%7-day average −0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$220.219% of the position

Long on Hyperliquid Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.377%−$38 on $10k

Price spread, last 7 days+0.044%+$4 · spread now −0.071%, 7d avg −0.035%

Together, before fees−0.333%+ Points / potential airdropHyperliquid: Season 2 · farm board−$33 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: OKX is 0.036% cheaper against Hyperliquid than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ZEC	1,501.1	0.0100	pay 0.0013% / 1h	20m 26s	$787.1M	$430.7M	10x
Short	OKX ZEC-USDT-SWAP	1,500	0.0100	get 0.0100% / 8h	6h 20m	$184.7M	$1.33B	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.071%Rate

Funding earned: $0
Price spread: −0.071% → −0.035%: −$3.58
Slippage, 4 orders: −$2.94
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee OKX: 5 bp × 2 orders: −$10
Net: −$25.52
Costs to cover: 0.219%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 7 min ago; OKX: 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, 7 min ago	0.33 bp	5.1 bp −$5	6.6 bp −$66	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	0.03 bp	6.8 bp −$7	10.1 bp −$101	17.5 bp −$1,754	doesn't fit

ZEC on 50 exchanges

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	−0.3772%	1h	1,480	−1.407%	$36K	$274K	12x	as long as short
BloFin ZEC-USDT	−0.0186%	8h	1,502.2	+0.075%	$31.6M	$75.1M	75x	as long as short
Aftermath Perps ZECUSD	−0.0121%	1h	1,501.1	+0.003%	$46K	$58K	10x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,502.9	+0.117%	$6K	$1K	10x	as long as short
Ondo Perps ZEC-USD.P	−0.0049%	1h	1,498.6	−0.167%	$408K	$507K	5x	as long as short
01 Exchange ZECUSD	0.0000%	1h	1,500.6	−0.035%	$8K	$6K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,502.7	+0.109%	$1.5M	$4.9M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,499.4	−0.114%	$62K	$298K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,501.9	+0.051%	$5.3M	—	150x	as long as short
Kraken Futures PF_ZECUSD	+0.0009%	1h	1,502.6	+0.101%	$18.4M	$47.1M	25x	as long as short

Show all 50 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX ZEC-USD	+0.0011%	1h	1,499.9	−0.079%	$413K	$34K	5x	as long as short
Orderly PERP_ZEC_USDC	+0.0075%	8h	1,499.6	−0.099%	$303K	$858K	20x	as long as short
RISEx ZEC/USDC	+0.0077%	1h	1,500.5	−0.041%	$922K	$1.3M	10x	as long as short
Lighter ZEC	+0.0096%	1h	1,501.8	+0.043%	$19.7M	$41.2M	20x	as long as short
Lighter RH ZEC	+0.0096%	1h	1,503.4	+0.150%	$2.1M	$7.3M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,500.3	−0.051%	$172K	$1.7M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0099%	8h	1,500.6	−0.035%	$62K	$16K	10x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,500.8	−0.019%	$19K	$879K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,501	−0.003%	$3.1M	$7.2M	10x	as long as short
Hyperliquid ZEClong	+0.0100%	1h	1,501.1	long leg	$787.1M	$430.7M	10x
Aster ZECUSDT	+0.0100%	8h	1,499.8	−0.085%	$14.1M	$27.5M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,501.5	+0.029%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,500.1	−0.070%	$707.0M	$2.24B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,499.8	−0.087%	$275.5M	$596.2M	75x	as long as short
OKX ZEC-USDT-SWAPshort	+0.0100%	8h	1,500	−0.071%	$184.7M	$1.33B	50x
Arcus ZEC-USD	+0.0100%	1h	1,501.7	+0.039%	$596K	$8.6M	10x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,494.1	−0.469%	$775K	$158K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,500.1	−0.067%	$61.7M	$184.5M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,500.4	−0.045%	$174.9M	$848.9M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,500.2	−0.061%	$105.0M	$54.6M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,500.2	−0.060%	$163.7M	$286.1M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,499.4	−0.117%	—	$6.6M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,502.9	+0.118%	$2.2M	$3.7M	15x	as long as short
Variational Omni ZEC	+0.0100%	8h	1,501.2	+0.010%	$49.5M	$34.9M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,505.2	+0.270%	$550K	$8.9M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,501.7	+0.043%	$3.1M	$566K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,504.2	+0.208%	$411K	$957K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,501.9	+0.055%	$112K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,500.1	−0.067%	$371K	$1.6M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,500.3	−0.055%	$167K	$189K	20x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,503.7	+0.174%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,502.1	+0.067%	$257K	$3.6M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,502.5	+0.093%	$2.7M	$20.6M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,502.9	+0.117%	$4.0M	$4.8M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,500.6	−0.036%	$2.8M	$7.4M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,501.7	+0.039%	$37K	$163K	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0117%	1h	1,502.7	+0.105%	$688K	$1.3M	25x	as long as short
Phoenix ZEC	+0.0139%	1h	1,502.9	+0.122%	$4.8M	$1.4M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0180% / S −0.0163%	1h	1,500.2	−0.063%	$372K	—	100x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0336%	1h	1,503.5	+0.163%	$3.9M	$9.8M	50x	as long as short