Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.3802%/8h= +416.3% APRpaid last 24h +0.823%

Price spread now: HTX against Injective+0.812%65s7-day average −0.062% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Injective Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+2.195%+$220 on $10k

Price spread, last 4 days (all we have)−1.603%−$160 · spread now +0.812%, 7d avg −0.062%

Together, before fees+0.593%+$59 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$114 a day on $10k at the current rate, and HTX is 0.874% dearer against Injective than usual: you sell high and buy low: +$87 more if the spread goes back to its 7-day average of −0.062%. The two prices were read 65 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 2.195% in total (about 114.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective ZEC/USDC PERP	1,500.6	−0.3702	get 0.0463% / 1h	41m 24s	$37K	$275K	12x
Short	HTX ZEC-USDT	1,512.8	0.0100	get 0.0100% / 8h	7h 41m	$2.7M	$21.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Injective. 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 InjectivebpFee HTXbpOrdersPrice spread, now +0.812%Rate

Funding earned: $798.4
Price spread: +0.812% → −0.062%: $87.45
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee HTX: 6 bp × 2 orders: −$12
Net: $873.83
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Injective: live order book, 58 min ago; HTX: live order book, 3 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 Injective live order book, 58 min ago	63.85 bp	492043.8 bp −$492.0K	4976718.0 bp −$49.77M	49523820.0 bp −$4952.38M	246762416.0 bp −$123381.21M
Sell HTX live order book, 3 min ago	1.85 bp	11.8 bp −$12	20.0 bp −$200	36.8 bp −$3,683	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 PERPlong	−0.3702%	1h	1,500.6	long leg	$37K	$275K	12x
Perpl ZEC	−0.0447%	43m	1,510.8	+0.678%	$62K	$305K	10x	as long as short
BloFin ZEC-USDT	−0.0157%	8h	1,514.5	+0.927%	$31.7M	$77.1M	75x	as long as short
Aftermath Perps ZECUSD	−0.0140%	1h	1,514.1	+0.901%	$48K	$58K	10x	as long as short
Bulk ZEC-USD	−0.0101%	1h	1,517.9	+1.152%	$781K	$147K	10x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,512.2	+0.769%	$6K	$1K	10x	as long as short
ApeX Omni ZECUSDT	−0.0022%	1h	1,512.6	+0.800%	$415K	$952K	50x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,512	+0.757%	$420K	$34K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,514.2	+0.905%	$1.6M	$5.0M	2.2x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,512.5	+0.794%	$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	1,512.9	+0.818%	$18.4M	$47.8M	25x	as long as short
01 Exchange ZECUSD	+0.0032%	1h	1,511.8	+0.744%	$8K	$6K	5x	as long as short
Gate ZEC_USDT	+0.0061%	8h	1,511.2	+0.702%	$60.3M	$184.1M	75x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0072%	1h	1,513.2	+0.838%	$693K	$1.4M	25x	as long as short
Phoenix ZEC	+0.0082%	1h	1,515.4	+0.986%	$4.8M	$1.4M	10x	as long as short
Orderly PERP_ZEC_USDC	+0.0084%	8h	1,512.3	+0.775%	$305K	$861K	20x	as long as short
Lighter ZEC	+0.0096%	1h	1,512.3	+0.777%	$19.6M	$44.7M	20x	as long as short
Lighter RH ZEC	+0.0096%	1h	1,512.3	+0.780%	$2.1M	$7.5M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,511.5	+0.726%	$172K	$1.8M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,511.4	+0.715%	$62K	$19K	10x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,511.3	+0.714%	$16K	$898K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,511.9	+0.752%	$3.1M	$7.7M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,512.8	+0.812%	$791.9M	$449.1M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,511	+0.688%	$14.2M	$30.9M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,512.1	+0.766%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,511.8	+0.742%	$714.7M	$2.33B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,511.4	+0.716%	$271.8M	$624.9M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,511.8	+0.747%	$185.1M	$1.38B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,511.6	+0.732%	$412K	$546K	5x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,512.2	+0.770%	$605K	$9.0M	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,512.2	+0.774%	$407.2M	$830.8M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,511.7	+0.740%	$103.3M	$57.4M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,512	+0.758%	$163.9M	$295.1M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,510.7	+0.674%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,515.2	+0.969%	$50.2M	$36.0M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,512.9	+0.815%	$558K	$9.2M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,515.1	+0.963%	$3.1M	$530K	10x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,513.8	+0.878%	$51K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,512.3	+0.778%	$375K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,512.2	+0.769%	$169K	$194K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,511.3	+0.712%	$451K	$408K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,516.6	+1.065%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,512.6	+0.800%	$256K	$3.6M	10x	as long as short
HTX ZEC-USDTshort	+0.0100%	8h	1,512.8	+0.812%	$2.7M	$21.2M	75x
Phemex ZECUSDT	+0.0100%	8h	1,512.9	+0.818%	$4.0M	$4.9M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,511.2	+0.702%	$2.8M	$8.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,512.5	+0.793%	$45K	$153K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0156% / S −0.0159%	1h	1,512.2	+0.770%	$336K	—	100x	as long as short
RISEx ZEC/USDC	+0.0157%	1h	1,511.2	+0.704%	$962K	$1.1M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0368%	1h	1,513.5	+0.858%	$3.8M	$10.0M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0508%	1h	1,512.7	+0.802%	$2.4M	$3.7M	15x	as long as short