ZEC

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0581%/8h= −63.6% APRnext payment −$0.73 per $10,000 · paid last 24h −0.018%

Price spread now: GMX against Backpack−0.020%7-day average +0.030% · you buy dearer than you sell

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

Long on Backpack Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.162%−$16 on $10k

Price spread, last 3 days (all we have)+0.156%+$16 · spread now −0.020%, 7d avg +0.030%

Together, before fees−0.006%−$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and GMX is 0.051% cheaper against Backpack than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.030%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.162% in total (about -18.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.73 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	1,473.1	0.0590	pay 0.0074% / 1h	43m 19s	$2.5M	$3.8M	15x
Short	GMX ZEC/USD [WBTC.b-USDC]	1,472.8	L +0.0055% / S −0.0010%	get 0.0001% / 1h	43m 19s	$378K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Backpack. 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 BackpackbpFee GMXbpOrdersPrice spread, now −0.020%Rate

Funding earned: −$121.94
Price spread: −0.020% → +0.030%: −$5.06
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$149
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 1 min ago; GMX: no order-book sample. 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 Backpack live order book, 1 min ago	0.03 bp	5.5 bp −$5	22.6 bp −$226	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.3321%	1h	1,475.3	+0.152%	$34K	$275K	12x	as long as short
Kraken Futures PF_ZECUSD	−0.0342%	1h	1,472.4	−0.050%	$17.9M	$43.2M	25x	as long as short
Ondo Perps ZEC-USD.P	−0.0134%	1h	1,469.9	−0.217%	$400K	$518K	5x	as long as short
BloFin ZEC-USDT	−0.0103%	8h	1,475.7	+0.179%	$29.7M	$74.2M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,472.1	−0.067%	$6K	$2K	10x	as long as short
Variational Omni ZEC	−0.0059%	8h	1,473.5	+0.026%	$47.7M	$34.4M	—	as long as short
Bybit ZECUSDT	−0.0035%	8h	1,472.3	−0.056%	$275.0M	$641.9M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,470.8	−0.154%	$414K	$104K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,474.5	+0.098%	$960K	$5.4M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,471.9	−0.081%	$84K	$405K	10x	as long as short

Show 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	1,472.8	−0.024%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0015%	8h	1,472.5	−0.041%	$294K	$1.4M	20x	as long as short
OKX ZEC-USDT-SWAP	+0.0040%	8h	1,472.4	−0.048%	$181.9M	$1.32B	50x	as long as short
Phoenix ZEC	+0.0054%	1h	1,475.9	+0.188%	$4.7M	$1.6M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]short	L +0.0055% / S −0.0010%	1h	1,472.8	−0.020%	$378K	—	100x
01 Exchange ZECUSD	+0.0064%	1h	1,472.4	−0.047%	$8K	$8K	5x	as long as short
Lighter ZEC	+0.0096%	1h	1,473.3	+0.012%	$19.2M	$50.3M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,471.6	−0.103%	$174K	$1.9M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,471.3	−0.119%	$60K	$39K	10x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,471.5	−0.111%	$14K	$841K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,472.7	−0.030%	$2.6M	$6.7M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,473	−0.007%	$764.4M	$459.9M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,471.5	−0.111%	$14.9M	$32.1M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,472	−0.074%	$1.7M	$2.9M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,472.5	−0.040%	$684.3M	$2.41B	75x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,472.9	−0.012%	$695K	$8.5M	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,472.2	−0.058%	$51.5M	$178.5M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,472.1	−0.065%	$230.7M	$822.8M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,471.7	−0.095%	$105.0M	$55.9M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,471.6	−0.101%	$163.7M	$295.9M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,471.4	−0.113%	—	$6.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,474.6	+0.102%	$574K	$9.2M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,473.4	+0.020%	$3.0M	$454K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,475.9	+0.189%	$432K	$859K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,473.3	+0.012%	$110K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,471.2	−0.129%	$332K	$1.9M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,472.5	−0.040%	$128K	$159K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,470.6	−0.168%	$458K	$509K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,474.6	+0.100%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,472.1	−0.065%	$242K	$4.2M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,471.5	−0.107%	$2.5M	$21.8M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,473.2	+0.006%	$3.9M	$5.4M	50x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,474.3	+0.084%	$897K	$28K	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,471.4	−0.114%	$3.2M	$7.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,472.6	−0.031%	$76K	$170K	20x	as long as short
RISEx ZEC/USDC	+0.0228%	1h	1,472.2	−0.064%	$841K	$1.1M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0345%	1h	1,473.6	+0.033%	$615K	$1.3M	25x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0448%	1h	1,474.8	+0.115%	$3.8M	$10.5M	50x	as long as short
Backpack ZEC_USDC_PERPlong	+0.0590%	1h	1,473.1	long leg	$2.5M	$3.8M	15x
Lighter RH ZEC	+0.0760%	1h	1,473.8	+0.050%	$2.0M	$8.0M	10x	as long as short
Aftermath Perps ZECUSD	+0.0777%	1h	1,474	+0.064%	$44K	$48K	10x	as long as short