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Funding arb · Price arb /

ZEC

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 22:00 UTC+0.0005%/8h= +0.6% APRpaid last 24h +0.021%
Price spread now: Backpack against Aster+0.100%45s7-day average +0.411% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$220.223% of the position
Long on AsterShort on Backpack
What this pair did over the last
the charts below follow
Funding, last 5 days (all we have)−0.021%−$2 on $10k
Price spread, last 7 days−0.959%−$96 · spread now +0.100%, 7d avg +0.411%
Together, before fees−0.980%+ Points / potential airdropAster: Stage 5 · farm board−$98 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: Backpack is 0.311% cheaper against Aster than usual: you would sell low and buy high, −$31 on $10k if it goes back to its 7-day average of +0.411%. The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongAster ZECUSDT1,455.90.0095pay 0.0095% / 8h2h 18m$15.3M$34.4M75x
ShortBackpack ZEC_USDC_PERP1,457.40.0100get 0.0013% / 1h18m 16s$2.3M$4.1M15x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Backpack against Aster. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$1.07
Price spread: +0.100% → +0.411%
−$31.12
Slippage, 4 orders
−$4.31
Fee Aster: 4 bp × 2 orders
−$8
Fee Backpack: 5 bp × 2 orders
−$10
Net
−$52.36
Costs to cover
0.223%
Break-even
348.5 days
Slippage from Aster: live order book, 6 min ago; Backpack: live order book, 1 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Aster live order book, 6 min ago0.03 bp5.4 bp −$57.6 bp −$7625.1 bp −$2,510doesn't fit
Sell Backpack live order book, 1 min ago0.03 bp5.6 bp −$624.8 bp −$248doesn't fitdoesn't fit

ZEC on 51 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective ZEC/USDC PERP−0.3476%1h1,433.1−1.564%$33K$275K12xas long as short
BloFin ZEC-USDT−0.0085%8h1,456.6+0.048%$28.7M$75.4M75xas long as short
Hotstuff ZEC-PERP−0.0080%1h1,457.1+0.078%$6K$2K10xas long as short
Kraken Futures PF_ZECUSD−0.0071%1h1,455.4−0.036%$17.7M$44.6M25xas long as short
Deribit ZEC_USDC-PERPETUAL−0.0004%1h1,456+0.003%$592K$1.3M25xas long as short
dYdX ZEC-USD0.0000%1h1,457.2+0.091%$410K$106K5xas long as short
Bybit ZECUSDT0.0000%8h1,454.6−0.089%$267.4M$677.2M75xas long as short
Kalshi KXZECPERP0.0000%8h1,457.9+0.136%$933K$5.7M2.2xas long as short
Perpl ZEC0.0000%43m1,455.8−0.011%$83K$401K10xas long as short
gTrade (Gains Network) ZEC/USDL +0.0007% / S −0.0006%1h1,456.2+0.018%$5.2M—150xas long as short
Show all 51 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Variational Omni ZEC+0.0008%8h1,455.6−0.023%$45.8M$33.2M—as long as short
Orderly PERP_ZEC_USDC+0.0015%8h1,455.4−0.039%$292K$1.5M20xas long as short
GMX ZEC/USD [WBTC.b-USDC]L +0.0021% / S +0.0071%1h1,455.8−0.011%$556K—100xas long as short
01 Exchange ZECUSD+0.0048%1h1,455.8−0.009%$8K$8K5xas long as short
OKX ZEC-USDT-SWAP+0.0058%8h1,455.3−0.041%$173.3M$1.36B50xas long as short
Gate ZEC_USDT+0.0072%8h1,455.6−0.025%$49.4M$190.5M75xas long as short
Ondo Perps ZEC-USD.P+0.0082%1h1,454.6−0.090%$395K$521K5xas long as short
Aster ZECUSDTlong+0.0095%8h1,455.9long leg$15.3M$34.4M75x
Katana Perps ZEC-USD+0.0095%8h1,456.1+0.014%$13K$872K10xas long as short
Lighter ZEC+0.0096%1h1,457.8+0.127%$18.8M$54.7M20xas long as short
Popdex ZECUSDT+0.0096%1h1,455.4−0.037%$173K$2.0M50xas long as short
Paradex ZEC-USD-PERP+0.0100%8h1,456.4+0.031%$60K$39K10xas long as short
Nado ZEC-PERP+0.0100%1h1,456.7+0.052%$2.5M$7.1M10xas long as short
Hyperliquid ZEC+0.0100%1h1,456.1+0.013%$752.4M$494.5M10xas long as short
Pacifica ZEC+0.0100%1h1,456.3+0.028%$1.6M$3.0M10xas long as short
Binance ZECUSDT+0.0100%8h1,455.4−0.038%$663.9M$2.53B75xas long as short
MEXC ZEC_USDT+0.0100%8h1,455.4−0.033%$216.9M$897.4M150xas long as short
KuCoin ZECUSDTM+0.0100%8h1,455.5−0.030%$103.0M$57.1M75xas long as short
Bitget ZECUSDT+0.0100%8h1,455.5−0.029%$161.1M$313.2M75xas long as short
BingX ZEC-USDT+0.0100%8h1,456+0.002%—$101.3M—as long as short
Backpack ZEC_USDC_PERPshort+0.0100%1h1,457.4+0.100%$2.3M$4.1M15x
edgeX ZECUSDC+0.0100%4h1,456.3+0.029%$489K$9.6M20xas long as short
GRVT ZEC_USDT_Perp+0.0100%8h1,455.5−0.027%$3.0M$510K10xas long as short
ApeX Omni ZECUSDT+0.0100%1h1,457+0.074%$428K$814K50xas long as short
StandX ZEC-USD+0.0100%1h1,457.3+0.094%$109K$4.8M30xas long as short
Polymarket Perps ZEC-USD+0.0100%1h1,455.3−0.042%$345K$2.0M10xas long as short
Bullet ZEC-USD+0.0100%1h1,455.2−0.047%$127K$161K20xas long as short
Derive ZEC-PERP+0.0100%1h1,454.2−0.117%$442K$498K6.7xas long as short
SunX ZEC-USDT+0.0100%8h1,457.4+0.103%$3K$1.3M20xas long as short
SoDEX ZEC-USD+0.0100%1h1,455.4−0.038%$221K$4.7M10xas long as short
HTX ZEC-USDT+0.0100%8h1,456.3+0.026%$2.4M$25.0M75xas long as short
Phemex ZECUSDT+0.0100%8h1,456.1+0.010%$3.8M$5.4M50xas long as short
Bulk ZEC-USD+0.0100%1h1,455−0.064%$896K$26K10xas long as short
Phoenix ZEC+0.0103%1h1,455.5−0.027%$4.6M$1.6M10xas long as short
Extended ZEC-USD+0.0104%1h1,456.3+0.027%$3.3M$6.9M10xas long as short
Aevo ZEC-PERP+0.0104%1h1,455.6−0.025%$36K$362K20xas long as short
RISEx ZEC/USDC+0.0219%1h1,456.3+0.023%$862K$1.8M10xas long as short
Coinbase International ZEC-PERP-INTX+0.0440%1h1,457.9+0.135%$3.7M$11.4M50xas long as short
Aftermath Perps ZECUSD+0.0454%1h1,456.6+0.048%$40K$34K10xas long as short
Arcus ZEC-USD+0.0518%1h1,457.8+0.129%$747K$8.0M10xas long as short
Lighter RH ZEC+0.0640%1h1,458.4+0.171%$1.9M$8.5M10xas long as short