Funding you earn now, next payment 22:00 UTC+0.0418%/8h= +45.8% APRnext payment +$0.52 per $10,000 · paid last 24h +0.025%
Price spread now: Arcus against Backpack+0.163%7-day average −0.349% · 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+$29as in the Price arb table
costs, in and out, $10k−$220.222% of the position
Funding, last 3 days (all we have)−0.001%$0 on $10k
+Price spread, last 7 days+0.784%+$78 · spread now +0.163%, 7d avg −0.349%
=Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Arcus is 0.511% dearer against Backpack than usual: you sell high and buy low: +$51 more if the spread goes back to its 7-day average of −0.349%.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.001% in total (about -0.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.52 per $10,000. 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 | Backpack ZEC_USDC_PERP | 1,451.3 | 0.0100 | pay 0.0013% / 1h | 41m 19s | $2.3M | $4.1M | 15x |
| Short | Arcus ZEC-USD | 1,453.7 | 0.0518 | get 0.0065% / 1h | 41m 19s | $755K | $7.9M | 10x |
Backpack ZEC_USDC_PERP
Arcus ZEC-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Arcus against Backpack. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $87.87
- Price spread: +0.163% → −0.349%
- $51.15
- Slippage, 4 orders
- −$7.73
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Net
- $116.78
- Costs to cover
- 0.222%
- Break-even
- from the start
Slippage from Backpack: live order book, 3 min ago; Arcus: live order book, 3 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 Backpack live order book, 3 min ago | 0.03 bp | 5.6 bp −$6 | 12.1 bp −$121 | doesn't fit | doesn't fit |
| Sell Arcus live order book, 3 min ago | 0.15 bp | 3.8 bp −$4 | 7.7 bp −$77 | 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 | −0.3476% | 1h | 1,438.1 | −0.908% | $33K | $275K | 12x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,451.8 | +0.034% | $6K | $2K | 10x | as long as short |
| Kraken Futures PF_ZECUSD | −0.0072% | 1h | 1,451.3 | +0.002% | $17.7M | $44.4M | 25x | as long as short |
| BloFin ZEC-USDT | −0.0066% | 8h | 1,451.4 | +0.003% | $29.0M | $74.8M | 75x | as long as short |
| Variational Omni ZEC | −0.0019% | 8h | 1,451.4 | +0.006% | $45.7M | $32.0M | — | as long as short |
| Bybit ZECUSDT | −0.0007% | 8h | 1,451.2 | −0.010% | $268.4M | $674.5M | 75x | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,450.6 | −0.050% | $408K | $106K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,452.6 | +0.089% | $844K | $5.5M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,450.7 | −0.043% | $82K | $401K | 10x | as long as short |
| Deribit ZEC_USDC-PERPETUAL | 0.0000% | 1h | 1,452 | +0.048% | $565K | $1.3M | 25x | as long as short |
Injective ZEC/USDC PERP
Hotstuff ZEC-PERP
Kraken Futures PF_ZECUSD
BloFin ZEC-USDT
Variational Omni ZEC
Bybit ZECUSDT
dYdX ZEC-USD
Kalshi KXZECPERP
Perpl ZEC
Deribit ZEC_USDC-PERPETUALShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,451.9 | +0.043% | $5.1M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0012% | 8h | 1,451.6 | +0.021% | $291K | $1.5M | 20x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0034% / S +0.0068% | 1h | 1,451.8 | +0.032% | $544K | — | 100x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0047% | 8h | 1,452 | +0.048% | $171.7M | $1.35B | 50x | as long as short |
| Ondo Perps ZEC-USD.P | +0.0052% | 1h | 1,449.7 | −0.110% | $394K | $516K | 5x | as long as short |
| Gate ZEC_USDT | +0.0062% | 8h | 1,451.4 | +0.006% | $49.2M | $186.2M | 75x | as long as short |
| 01 Exchange ZECUSD | +0.0064% | 1h | 1,451.8 | +0.034% | $8K | $8K | 5x | as long as short |
| Aster ZECUSDT | +0.0066% | 8h | 1,451.7 | +0.024% | $15.2M | $34.8M | 75x | as long as short |
| Katana Perps ZEC-USD | +0.0095% | 8h | 1,451.5 | +0.016% | $17K | $867K | 10x | as long as short |
| Lighter ZEC | +0.0096% | 1h | 1,452.6 | +0.093% | $18.7M | $54.0M | 20x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,451.2 | −0.008% | $177K | $2.0M | 50x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,451.7 | +0.025% | $60K | $37K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,451.3 | 0.000% | $3.0M | $6.7M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,452.2 | +0.062% | $751.1M | $495.3M | 10x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,451.4 | +0.010% | $1.6M | $3.1M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,451.8 | +0.036% | $659.3M | $2.53B | 75x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,452.5 | +0.083% | $895K | $33K | 10x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,451.9 | +0.043% | $219.8M | $885.4M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,451.5 | +0.014% | $103.6M | $56.9M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,451.4 | +0.007% | $161.6M | $313.6M | 75x | as long as short |
| BingX ZEC-USDT | +0.0100% | 8h | 1,451.7 | +0.027% | — | $105.3M | — | as long as short |
| Backpack ZEC_USDC_PERPlong | +0.0100% | 1h | 1,451.3 | long leg | $2.3M | $4.1M | 15x | |
| edgeX ZECUSDC | +0.0100% | 4h | 1,451.7 | +0.027% | $487K | $9.8M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,453 | +0.119% | $3.0M | $501K | 10x | as long as short |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,451.9 | +0.040% | $706K | $606K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,451.5 | +0.012% | $109K | $4.8M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,451.4 | +0.007% | $298K | $2.0M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,451.5 | +0.012% | $126K | $161K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,450.4 | −0.065% | $441K | $493K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,453.7 | +0.167% | $3K | $1.3M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,451.5 | +0.012% | $219K | $4.7M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,451 | −0.021% | $2.4M | $24.8M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,451.3 | −0.001% | $3.7M | $5.4M | 50x | as long as short |
| Phoenix ZEC | +0.0103% | 1h | 1,452.9 | +0.108% | $4.6M | $1.6M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,451.6 | +0.020% | $36K | $362K | 20x | as long as short |
| Extended ZEC-USD | +0.0112% | 1h | 1,451.3 | +0.002% | $3.3M | $7.0M | 10x | as long as short |
| RISEx ZEC/USDC | +0.0219% | 1h | 1,452 | +0.048% | $862K | $2.5M | 10x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0440% | 1h | 1,453.4 | +0.144% | $3.7M | $11.5M | 50x | as long as short |
| Aftermath Perps ZECUSD | +0.0449% | 1h | 1,452.8 | +0.102% | $39K | $32K | 10x | as long as short |
| Arcus ZEC-USDshort | +0.0518% | 1h | 1,453.7 | +0.163% | $755K | $7.9M | 10x | |
| Lighter RH ZEC | +0.0728% | 1h | 1,453.7 | +0.166% | $1.9M | $8.4M | 10x | as long as short |
gTrade (Gains Network) ZEC/USD
Orderly PERP_ZEC_USDC
GMX ZEC/USD [WBTC.b-USDC]
OKX ZEC-USDT-SWAP
Ondo Perps ZEC-USD.P
Gate ZEC_USDT
01 Exchange ZECUSD
Aster ZECUSDT
Katana Perps ZEC-USD
Lighter ZEC
Popdex ZECUSDT
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Hyperliquid ZEC
Pacifica ZEC
Binance ZECUSDT
Bulk ZEC-USD
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDT
edgeX ZECUSDC
GRVT ZEC_USDT_Perp
ApeX Omni ZECUSDT
StandX ZEC-USD
Polymarket Perps ZEC-USD
Bullet ZEC-USD
Derive ZEC-PERP
SunX ZEC-USDT
SoDEX ZEC-USD
HTX ZEC-USDT
Phemex ZECUSDT
Phoenix ZEC
Aevo ZEC-PERP
Extended ZEC-USD
RISEx ZEC/USDC
Coinbase International ZEC-PERP-INTX
Aftermath Perps ZECUSD
Lighter RH ZEC