Funding you earn now, next payment 02:00 UTC−0.0387%/8h= −42.4% APRpaid last 24h −0.036%
Price spread now: Variational Omni against Backpack−0.007%7-day average −0.426% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.071%−$7 on $10k
+Price spread, last 7 days+0.227%+$23 · spread now −0.007%, 7d avg −0.426%
=Together, before fees+0.156%+ Points / potential airdropVariational Omni: Active · farm board+$16 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Variational Omni is 0.419% dearer against Backpack than usual: you sell high and buy low (spread −0.007% now, against its 7-day average of −0.426%): +$42 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 3.6 days. At the pace of the last 3 days (−0.071% in total) that is about 20 days.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.071% in total (about -7.6% a year). A funding rate is set anew for every payment. 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 | 1,470.7 | 0.0449 | pay 0.0056% / 1h | 11m 31s | $2.5M | $4.0M | 15x |
| Short | Variational Omni ZEC | 1,470.6 | 0.0062 | get 0.0062% / 8h | 6h 11m | $48.0M | $32.7M | — |
Backpack ZEC_USDC_PERP
Variational Omni ZECFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni 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
- −$81.26
- Price spread: −0.007% → −0.426%
- $41.94
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$49.32
- Costs to cover
- 0.100%
- Break-even
- from the start
Slippage unknown: Backpack: live order book, 3 min ago; Variational Omni: RFQ quote, 3 min ago. 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, 3 min ago | 0.03 bp | 5.7 bp −$6 | 16.5 bp −$165 | doesn't fit | doesn't fit |
| Sell Variational Omni RFQ quote, 3 min ago | 2.75 bp | doesn't fit | 5.6 bp −$56 | 14.8 bp −$1,477 | doesn't fit |
ZEC on 50 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 | −0.3678% | 1h | 1,456 | −0.998% | $34K | $274K | 12x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,470.5 | −0.013% | $6K | $1K | 10x | as long as short |
| Ondo Perps ZEC-USD.P | −0.0036% | 1h | 1,472 | +0.088% | $399K | $514K | 5x | as long as short |
| Kraken Futures PF_ZECUSD | −0.0002% | 1h | 1,470.7 | −0.003% | $18.1M | $43.8M | 25x | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,470.4 | −0.023% | $414K | $53K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,471.1 | +0.024% | $975K | $4.9M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,469.9 | −0.052% | $84K | $252K | 10x | as long as short |
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,471 | +0.019% | $5.2M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0030% | 8h | 1,470.7 | −0.001% | $294K | $1.0M | 20x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0055% / S −0.0009% | 1h | 1,470.8 | +0.004% | $384K | — | 100x | as long as short |
Injective ZEC/USDC PERP
Hotstuff ZEC-PERP
Ondo Perps ZEC-USD.P
Kraken Futures PF_ZECUSD
dYdX ZEC-USD
Kalshi KXZECPERP
Perpl ZEC
gTrade (Gains Network) ZEC/USD
Orderly PERP_ZEC_USDC
GMX ZEC/USD [WBTC.b-USDC]Show all 50 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni ZECshort | +0.0062% | 8h | 1,470.6 | −0.007% | $48.0M | $32.7M | — | |
| 01 Exchange ZECUSD | +0.0064% | 1h | 1,470.3 | −0.031% | $8K | $8K | 5x | as long as short |
| Phoenix ZEC | +0.0070% | 1h | 1,473.2 | +0.167% | $4.7M | $1.5M | 10x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0094% | 8h | 1,470.2 | −0.035% | $181.2M | $1.26B | 50x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,470.4 | −0.024% | $173K | $1.8M | 50x | as long as short |
| Katana Perps ZEC-USD | +0.0100% | 8h | 1,470 | −0.051% | $9K | $845K | 10x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,470.2 | −0.032% | $61K | $40K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,470.5 | −0.012% | $2.6M | $6.5M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,471.2 | +0.033% | $766.3M | $443.6M | 10x | as long as short |
| Aster ZECUSDT | +0.0100% | 8h | 1,470.1 | −0.042% | $14.8M | $30.0M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,470.7 | −0.002% | $1.7M | $2.7M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,470.4 | −0.024% | $680.3M | $2.31B | 75x | as long as short |
| Bybit ZECUSDT | +0.0100% | 8h | 1,470.1 | −0.041% | $271.6M | $614.3M | 75x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,472.8 | +0.140% | $894K | $18K | 10x | as long as short |
| Gate ZEC_USDT | +0.0100% | 8h | 1,470 | −0.046% | $50.0M | $176.4M | 75x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,470.2 | −0.037% | $216.6M | $801.8M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,470.1 | −0.039% | $103.3M | $56.3M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,470.2 | −0.033% | $163.3M | $281.3M | 75x | as long as short |
| BingX ZEC-USDT | +0.0100% | 8h | 1,470 | −0.048% | — | $100.5M | — | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,470.8 | +0.005% | $573K | $9.0M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,470.8 | +0.005% | $3.0M | $453K | 10x | as long as short |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,471.1 | +0.029% | $428K | $895K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,471.2 | +0.031% | $71K | $4.7M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,470.7 | −0.001% | $346K | $1.8M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,470.6 | −0.006% | $128K | $160K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,469.4 | −0.087% | $457K | $511K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,472.9 | +0.150% | $3K | $1.2M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,470.6 | −0.010% | $242K | $3.6M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,470.7 | +0.002% | $2.5M | $18.7M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,471.2 | +0.030% | $3.9M | $5.3M | 50x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,470.2 | −0.038% | $3.2M | $7.1M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,470.7 | −0.001% | $48K | $162K | 20x | as long as short |
| Deribit ZEC_USDC-PERPETUAL | +0.0194% | 1h | 1,471.7 | +0.064% | $612K | $1.3M | 25x | as long as short |
| Lighter ZEC | +0.0232% | 1h | 1,471.6 | +0.059% | $19.2M | $48.2M | 20x | as long as short |
| Arcus ZEC-USD | +0.0254% | 1h | 1,472 | +0.085% | $695K | $8.6M | 10x | as long as short |
| Lighter RH ZEC | +0.0288% | 1h | 1,472.1 | +0.097% | $2.1M | $7.1M | 10x | as long as short |
| RISEx ZEC/USDC | +0.0374% | 1h | 1,470.7 | −0.001% | $862K | $1.0M | 10x | as long as short |
| Backpack ZEC_USDC_PERPlong | +0.0449% | 1h | 1,470.7 | long leg | $2.5M | $4.0M | 15x | |
| Coinbase International ZEC-PERP-INTX | +0.0472% | 1h | 1,472.3 | +0.109% | $3.6M | $9.3M | 50x | as long as short |
| Aftermath Perps ZECUSD | +0.0738% | 1h | 1,472.4 | +0.112% | $44K | $46K | 10x | as long as short |
01 Exchange ZECUSD
Phoenix ZEC
OKX ZEC-USDT-SWAP
Popdex ZECUSDT
Katana Perps ZEC-USD
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Hyperliquid ZEC
Aster ZECUSDT
Pacifica ZEC
Binance ZECUSDT
Bybit ZECUSDT
Bulk ZEC-USD
Gate ZEC_USDT
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
Extended ZEC-USD
Aevo ZEC-PERP
Deribit ZEC_USDC-PERPETUAL
Lighter ZEC
Arcus ZEC-USD
Lighter RH ZEC
RISEx ZEC/USDC
Coinbase International ZEC-PERP-INTX
Aftermath Perps ZECUSD