ZEC

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0095%/8h= +10.4% APRnext payment +$0.12 per $10,000 · paid last 24h −0.074%

Price spread now: Kraken Futures against Backpack0.000%7-day average +0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$320.319% of the position

Long on Backpack Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.084%−$8 on $10k

Price spread, last 4 days (all we have)+1.505%+$151 · spread now 0.000%, 7d avg +0.032%

Together, before fees+1.421%+$142 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.032% cheaper against Backpack than usual: you would sell low and buy high (spread 0.000% now, against its 7-day average of +0.032%). If the spread goes back, that is −$3 on $10k: about 27 hours of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −0.084%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack ZEC_USDC_PERP	1,460	0.0100	pay 0.0013% / 1h	42m 47s	$2.4M	$3.8M	15x
Short	Kraken Futures PF_ZECUSD	1,460	0.0195	get 0.0024% / 1h	42m 47s	$18.0M	$43.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now 0.000%Rate

Funding earned: $19.97
Price spread: 0.000% → +0.032%: −$3.16
Slippage, 4 orders: −$11.86
Fee Backpack: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$15.05
Costs to cover: 0.319%
Break-even: 12.3 days

Slippage from Backpack: live order book, 1 min ago; Kraken Futures: live order book, 1 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	5.3 bp −$5	17.6 bp −$176	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 1 min ago	1.71 bp	11.4 bp −$11	16.7 bp −$167	28.2 bp −$2,816	106.4 bp −$53.2K

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	−0.3244%	1h	1,462	+0.131%	$34K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,461.5	+0.101%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0078%	8h	1,459.5	−0.038%	$29.6M	$71.0M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,460.8	+0.053%	$411K	$46K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,460.6	+0.038%	$963K	$4.6M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,459.3	−0.053%	$83K	$249K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,459.6	−0.030%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0037%	8h	1,459.8	−0.016%	$292K	$977K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0054% / S −0.0009%	1h	1,459.8	−0.015%	$378K	—	100x	as long as short
Ondo Perps ZEC-USD.P	+0.0064%	1h	1,459.8	−0.016%	$396K	$433K	5x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix ZEC	+0.0074%	1h	1,459.6	−0.030%	$4.6M	$1.4M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0084%	1h	1,460.7	+0.044%	$608K	$1.3M	25x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,459.4	−0.041%	$173K	$1.8M	50x	as long as short
Variational Omni ZEC	+0.0098%	8h	1,459.8	−0.014%	$47.4M	$31.8M	—	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,459.8	−0.014%	$19K	$835K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,459.9	−0.007%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,459.4	−0.044%	$2.6M	$6.5M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,460.3	+0.018%	$760.9M	$433.0M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,459.2	−0.060%	$14.4M	$28.8M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,460.7	+0.046%	$1.7M	$2.6M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,459.3	−0.048%	$672.7M	$2.25B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,459.1	−0.064%	$269.6M	$606.2M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,459.5	−0.038%	$179.8M	$1.23B	50x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,458.7	−0.095%	$886K	$16K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,459	−0.075%	$49.9M	$170.8M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,459.1	−0.063%	$215.1M	$770.9M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,459.3	−0.048%	$102.6M	$55.8M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,459.2	−0.055%	$161.9M	$275.5M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,459.6	−0.029%	—	$97.0M	—	as long as short
Backpack ZEC_USDC_PERPlong	+0.0100%	1h	1,460	long leg	$2.4M	$3.8M	15x
edgeX ZECUSDC	+0.0100%	4h	1,461.5	+0.103%	$569K	$8.9M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,459.3	−0.050%	$3.0M	$418K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,461.5	+0.100%	$421K	$883K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,460.8	+0.051%	$70K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,459	−0.071%	$339K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,459.3	−0.052%	$126K	$160K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,458.7	−0.090%	$445K	$521K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,461.6	+0.104%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,460.2	+0.008%	$241K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,458.3	−0.116%	$2.6M	$18.3M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,459.9	−0.010%	$3.8M	$5.1M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,459	−0.074%	$2.8M	$7.7M	10x	as long as short
01 Exchange ZECUSD	+0.0104%	1h	1,460	−0.006%	$8K	$7K	5x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,459.8	−0.015%	$48K	$155K	20x	as long as short
Kraken Futures PF_ZECUSDshort	+0.0195%	1h	1,460	0.000%	$18.0M	$43.7M	25x
Lighter ZEC	+0.0208%	1h	1,461.1	+0.074%	$19.1M	$45.9M	20x	as long as short
Arcus ZEC-USD	+0.0277%	1h	1,461.8	+0.123%	$705K	$8.5M	10x	as long as short
Lighter RH ZEC	+0.0328%	1h	1,461.1	+0.069%	$2.1M	$6.8M	10x	as long as short
RISEx ZEC/USDC	+0.0409%	1h	1,459.7	−0.025%	$834K	$1.0M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0456%	1h	1,461.5	+0.099%	$3.6M	$9.0M	50x	as long as short
Aftermath Perps ZECUSD	+0.0716%	1h	1,462.1	+0.141%	$43K	$46K	10x	as long as short