Funding you earn now, next payment 10:00 UTC+0.0079%/8h= +8.6% APRnext payment +$0.10 per $10,000 · paid last 24h −0.029%
Price spread now: Deribit against Backpack+0.045%7-day average +0.061% · you sell dearer than you buy
Net, funding: paid 7d − costs−$12as in the Funding arb table
Net, price: spread back to 7d avg − costs−$32as in the Price arb table
costs, in and out, $10k−$310.306% of the position
Funding, last 7 days+0.189%+$19 on $10k
+Price spread, last 4 days (all we have)+0.759%+$76 · spread now +0.045%, 7d avg +0.061%
=The price spread sits at its 7-day average of +0.061%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack ZEC_USDC_PERP | 1,503 | 0.0100 | pay 0.0013% / 1h | 21m 51s | $2.2M | $3.7M | 15x |
| Short | Deribit ZEC_USDC-PERPETUAL | 1,503.7 | 0.0179 | get 0.0022% / 1h | 21m 51s | $688K | $1.3M | 25x |
Backpack ZEC_USDC_PERP
Deribit ZEC_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- $16.58
- Price spread: +0.045% → +0.061%
- −$1.62
- Slippage, 4 orders
- −$13.58
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$15.62
- Costs to cover
- 0.306%
- Break-even
- 13.6 days
Slippage from Backpack: live order book, 5 min ago; Deribit: live order book, 5 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, 5 min ago | 0.03 bp | 5.5 bp −$6 | 12.8 bp −$128 | doesn't fit | doesn't fit |
| Sell Deribit live order book, 5 min ago | 2.85 bp | 8.7 bp −$9 | 16.2 bp −$162 | doesn't fit | 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 | −1.533% | $36K | $274K | 12x | as long as short |
| BloFin ZEC-USDT | −0.0186% | 8h | 1,501.9 | −0.076% | $31.5M | $75.1M | 75x | as long as short |
| Aftermath Perps ZECUSD | −0.0120% | 1h | 1,500.9 | −0.138% | $46K | $58K | 10x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,501.6 | −0.094% | $6K | $1K | 10x | as long as short |
| Ondo Perps ZEC-USD.P | −0.0058% | 1h | 1,503.7 | +0.045% | $409K | $509K | 5x | as long as short |
| 01 Exchange ZECUSD | −0.0008% | 1h | 1,504 | +0.062% | $8K | $6K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,502.5 | −0.032% | $1.5M | $4.9M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,499.9 | −0.210% | $62K | $298K | 10x | as long as short |
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,502.8 | −0.015% | $5.3M | — | 150x | as long as short |
| Kraken Futures PF_ZECUSD | +0.0009% | 1h | 1,503.5 | +0.030% | $18.5M | $47.1M | 25x | as long as short |
Injective ZEC/USDC PERP
BloFin ZEC-USDT
Aftermath Perps ZECUSD
Hotstuff ZEC-PERP
Ondo Perps ZEC-USD.P
01 Exchange ZECUSD
Kalshi KXZECPERP
Perpl ZEC
gTrade (Gains Network) ZEC/USD
Kraken Futures PF_ZECUSDShow all 50 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| dYdX ZEC-USD | +0.0011% | 1h | 1,501.5 | −0.098% | $414K | $34K | 5x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0076% | 8h | 1,502.6 | −0.031% | $303K | $858K | 20x | as long as short |
| RISEx ZEC/USDC | +0.0077% | 1h | 1,502.8 | −0.012% | $924K | $1.3M | 10x | as long as short |
| Lighter ZEC | +0.0096% | 1h | 1,503.4 | +0.022% | $19.8M | $41.2M | 20x | as long as short |
| Lighter RH ZEC | +0.0096% | 1h | 1,503.7 | +0.044% | $2.1M | $7.3M | 10x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,502.1 | −0.059% | $173K | $1.7M | 50x | as long as short |
| Paradex ZEC-USD-PERP | +0.0099% | 8h | 1,501.7 | −0.089% | $62K | $16K | 10x | as long as short |
| Katana Perps ZEC-USD | +0.0100% | 8h | 1,501.9 | −0.078% | $19K | $879K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,502.8 | −0.013% | $3.1M | $7.2M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,503.1 | +0.005% | $787.7M | $429.6M | 10x | as long as short |
| Aster ZECUSDT | +0.0100% | 8h | 1,501.6 | −0.097% | $14.1M | $27.5M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,502 | −0.068% | $1.7M | $2.4M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,502.1 | −0.061% | $708.0M | $2.25B | 75x | as long as short |
| Bybit ZECUSDT | +0.0100% | 8h | 1,501.5 | −0.098% | $275.8M | $598.4M | 75x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0100% | 8h | 1,502.7 | −0.022% | $184.9M | $1.33B | 50x | as long as short |
| Arcus ZEC-USD | +0.0100% | 1h | 1,502.8 | −0.017% | $597K | $8.6M | 10x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,494.1 | −0.596% | $775K | $158K | 10x | as long as short |
| Gate ZEC_USDT | +0.0100% | 8h | 1,502.1 | −0.065% | $61.7M | $184.4M | 75x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,502.2 | −0.055% | $175.4M | $848.6M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,502.1 | −0.059% | $105.1M | $54.6M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,502.1 | −0.064% | $163.9M | $286.8M | 75x | as long as short |
| BingX ZEC-USDC | +0.0100% | 8h | 1,500.9 | −0.138% | — | $6.6M | — | as long as short |
| Backpack ZEC_USDC_PERPlong | +0.0100% | 1h | 1,503 | long leg | $2.2M | $3.7M | 15x | |
| Variational Omni ZEC | +0.0100% | 8h | 1,505.8 | +0.186% | $49.7M | $34.9M | — | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,505.2 | +0.142% | $550K | $8.9M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,508.3 | +0.354% | $3.1M | $577K | 10x | as long as short |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,504.2 | +0.080% | $411K | $957K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,501.7 | −0.087% | $112K | $4.6M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,502.8 | −0.015% | $373K | $1.6M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,503 | −0.004% | $168K | $189K | 20x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,505 | +0.129% | $3K | $1.2M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,502.8 | −0.014% | $257K | $3.6M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,502.7 | −0.020% | $2.7M | $20.6M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,501.8 | −0.079% | $4.0M | $4.8M | 50x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,502 | −0.066% | $2.8M | $7.4M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,502.6 | −0.026% | $37K | $163K | 20x | as long as short |
| Phoenix ZEC | +0.0139% | 1h | 1,503.3 | +0.016% | $4.8M | $1.4M | 10x | as long as short |
| Deribit ZEC_USDC-PERPETUALshort | +0.0179% | 1h | 1,503.7 | +0.045% | $688K | $1.3M | 25x | |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0179% / S −0.0163% | 1h | 1,503.1 | +0.006% | $372K | — | 100x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0336% | 1h | 1,504.7 | +0.108% | $3.9M | $9.8M | 50x | as long as short |
dYdX ZEC-USD
Orderly PERP_ZEC_USDC
RISEx ZEC/USDC
Lighter ZEC
Lighter RH ZEC
Popdex ZECUSDT
Paradex ZEC-USD-PERP
Katana Perps ZEC-USD
Nado ZEC-PERP
Hyperliquid ZEC
Aster ZECUSDT
Pacifica ZEC
Binance ZECUSDT
Bybit ZECUSDT
OKX ZEC-USDT-SWAP
Arcus ZEC-USD
Bulk ZEC-USD
Gate ZEC_USDT
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDC
Variational Omni ZEC
edgeX ZECUSDC
GRVT ZEC_USDT_Perp
ApeX Omni ZECUSDT
StandX ZEC-USD
Polymarket Perps ZEC-USD
Bullet ZEC-USD
SunX ZEC-USDT
SoDEX ZEC-USD
HTX ZEC-USDT
Phemex ZECUSDT
Extended ZEC-USD
Aevo ZEC-PERP
Phoenix ZEC
GMX ZEC/USD [WBTC.b-USDC]
Coinbase International ZEC-PERP-INTX