Funding you earn now, next payment 23:00 UTC−0.0107%/8h= −11.7% APRnext payment −$0.13 per $10,000 · paid last 24h +0.057%
Price spread now: Hyperliquid against Backpack−0.007%7-day average −0.364% · you buy dearer than you sell
Net, funding: paid 7d − costs+$23as in the Funding arb table
Net, price: spread back to 7d avg − costs+$13as in the Price arb table
costs, in and out, $10k−$220.224% of the position
Funding, last 7 days+0.457%+$46 on $10k
+Price spread, last 7 days+1.000%+$100 · spread now −0.007%, 7d avg −0.364%
=Together, before fees+1.458%+ Points / potential airdropHyperliquid: Season 2 · farm board+$146 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Hyperliquid is 0.357% dearer against Backpack than usual: you sell high and buy low (spread −0.007% now, against its 7-day average of −0.364%): +$36 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 11 days. Mind the row above: over the last 7 days funding on this pair paid +0.457%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack ZEC_USDC_PERP | 1,472.6 | 0.0207 | pay 0.0026% / 1h | 3m 21s | $2.4M | $3.7M | 15x |
| Short | Hyperliquid ZEC | 1,472.5 | 0.0100 | get 0.0013% / 1h | 3m 21s | $764.1M | $479.1M | 10x |
Backpack ZEC_USDC_PERP
Hyperliquid ZECFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid 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
- −$22.45
- Price spread: −0.007% → −0.364%
- $35.65
- Slippage, 4 orders
- −$3.43
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$9.23
- Costs to cover
- 0.224%
- Break-even
- from the start
Slippage from Backpack: live order book, 1 min ago; Hyperliquid: live order book, 11 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, 1 min ago | 0.03 bp | 5.6 bp −$6 | 11.1 bp −$111 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 11 min ago | 0.34 bp | 5.2 bp −$5 | 7.6 bp −$76 | 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 | −0.3310% | 1h | 1,474 | +0.093% | $34K | $275K | 12x | as long as short |
| Kraken Futures PF_ZECUSD | −0.0403% | 1h | 1,471 | −0.111% | $17.9M | $44.9M | 25x | as long as short |
| Ondo Perps ZEC-USD.P | −0.0266% | 1h | 1,470.5 | −0.143% | $398K | $517K | 5x | as long as short |
| BloFin ZEC-USDT | −0.0108% | 8h | 1,471.5 | −0.079% | $29.3M | $75.7M | 75x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,471.4 | −0.080% | $6K | $2K | 10x | as long as short |
| Bybit ZECUSDT | −0.0077% | 8h | 1,470.4 | −0.152% | $272.4M | $665.8M | 75x | as long as short |
| Variational Omni ZEC | −0.0036% | 8h | 1,470.8 | −0.125% | $46.7M | $33.4M | — | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,470.7 | −0.127% | $414K | $104K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,471.7 | −0.060% | $897K | $5.6M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,470.8 | −0.122% | $84K | $404K | 10x | as long as short |
Injective ZEC/USDC PERP
Kraken Futures PF_ZECUSD
Ondo Perps ZEC-USD.P
BloFin ZEC-USDT
Hotstuff ZEC-PERP
Bybit ZECUSDT
Variational Omni ZEC
dYdX ZEC-USD
Kalshi KXZECPERP
Perpl ZECShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit ZEC_USDC-PERPETUAL | 0.0000% | 1h | 1,471.7 | −0.062% | $599K | $1.3M | 25x | as long as short |
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,471.4 | −0.086% | $5.2M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0009% | 8h | 1,471 | −0.110% | $294K | $1.4M | 20x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0038% / S +0.0009% | 1h | 1,471.2 | −0.095% | $359K | — | 100x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0038% | 8h | 1,470.8 | −0.121% | $178.5M | $1.35B | 50x | as long as short |
| Gate ZEC_USDT | +0.0044% | 8h | 1,471.3 | −0.090% | $50.2M | $187.7M | 75x | as long as short |
| 01 Exchange ZECUSD | +0.0064% | 1h | 1,470.7 | −0.128% | $8K | $8K | 5x | as long as short |
| Phoenix ZEC | +0.0075% | 1h | 1,473.5 | +0.061% | $4.6M | $1.6M | 10x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,470.8 | −0.123% | $176K | $1.9M | 50x | as long as short |
| Katana Perps ZEC-USD | +0.0097% | 8h | 1,471.4 | −0.081% | $10K | $823K | 10x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,470.7 | −0.132% | $60K | $39K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,471.9 | −0.050% | $2.6M | $6.8M | 10x | as long as short |
| Hyperliquid ZECshort | +0.0100% | 1h | 1,472.5 | −0.007% | $764.1M | $479.1M | 10x | |
| Aster ZECUSDT | +0.0100% | 8h | 1,471.1 | −0.100% | $15.6M | $32.4M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,471.4 | −0.082% | $1.7M | $2.9M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,471 | −0.107% | $678.8M | $2.47B | 75x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,467.7 | −0.331% | $906K | $27K | 10x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,471.4 | −0.085% | $222.4M | $873.3M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,471.4 | −0.084% | $103.9M | $55.8M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,471 | −0.108% | $162.7M | $304.0M | 75x | as long as short |
| BingX ZEC-USDC | +0.0100% | 8h | 1,470.1 | −0.171% | — | $6.7M | — | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,472.1 | −0.033% | $513K | $9.3M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,471.8 | −0.053% | $3.0M | $482K | 10x | as long as short |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,469.2 | −0.234% | $431K | $826K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,472.3 | −0.018% | $110K | $4.8M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,471.1 | −0.103% | $347K | $1.9M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,471.1 | −0.103% | $128K | $160K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,469.5 | −0.208% | $448K | $502K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,472.9 | +0.018% | $3K | $1.2M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,470.8 | −0.126% | $226K | $4.5M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,469.7 | −0.200% | $2.5M | $23.3M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,471.3 | −0.089% | $3.8M | $5.3M | 50x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,471.2 | −0.094% | $3.3M | $6.9M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,470.6 | −0.139% | $37K | $366K | 20x | as long as short |
| Lighter ZEC | +0.0120% | 1h | 1,472.2 | −0.025% | $19.1M | $52.8M | 20x | as long as short |
| RISEx ZEC/USDC | +0.0190% | 1h | 1,471.4 | −0.080% | $834K | $1.3M | 10x | as long as short |
| Backpack ZEC_USDC_PERPlong | +0.0207% | 1h | 1,472.6 | long leg | $2.4M | $3.7M | 15x | |
| Lighter RH ZEC | +0.0408% | 1h | 1,472.7 | +0.008% | $2.0M | $8.3M | 10x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0424% | 1h | 1,473.1 | +0.030% | $3.8M | $11.5M | 50x | as long as short |
| Arcus ZEC-USD | +0.0444% | 1h | 1,472.2 | −0.028% | $716K | $8.2M | 10x | as long as short |
| Aftermath Perps ZECUSD | +0.0608% | 1h | 1,471.1 | −0.104% | $41K | $34K | 10x | as long as short |
Deribit ZEC_USDC-PERPETUAL
gTrade (Gains Network) ZEC/USD
Orderly PERP_ZEC_USDC
GMX ZEC/USD [WBTC.b-USDC]
OKX ZEC-USDT-SWAP
Gate ZEC_USDT
01 Exchange ZECUSD
Phoenix ZEC
Popdex ZECUSDT
Katana Perps ZEC-USD
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Aster ZECUSDT
Pacifica ZEC
Binance ZECUSDT
Bulk ZEC-USD
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDC
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
Extended ZEC-USD
Aevo ZEC-PERP
Lighter ZEC
RISEx ZEC/USDC
Lighter RH ZEC
Coinbase International ZEC-PERP-INTX
Arcus ZEC-USD
Aftermath Perps ZECUSD