Funding you earn now, next payment 00:00 UTC+0.0521%/8h= +57.0% APRpaid last 24h +0.075%
Price spread now: Backpack against BloFin+0.067%66s7-day average −0.012% · you sell dearer than you buy
Net, funding: paid 7d − costs−$20as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$240.241% of the position
Funding, last 7 days+0.046%+$5 on $10k
+Price spread, last 3 days (all we have)−0.274%−$27 · spread now +0.067%, 7d avg −0.012%
=Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and Backpack is 0.080% dearer against BloFin than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.012%. The two prices were read 66 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.046% in total (about 2.4% 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 | BloFin ZEC-USDT | 1,469.8 | −0.0102 | get 0.0102% / 8h | 31m 53s | $29.6M | $75.2M | 75x |
| Short | Backpack ZEC_USDC_PERP | 1,470.8 | 0.0419 | get 0.0052% / 1h | 31m 53s | $2.4M | $3.8M | 15x |
BloFin ZEC-USDT
Backpack ZEC_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against BloFin. 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
- $109.34
- Price spread: +0.067% → −0.012%
- $7.97
- Slippage, 4 orders
- −$2.14
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $93.18
- Costs to cover
- 0.241%
- Break-even
- 1.0 days
Slippage from BloFin: live order book, 7 min ago; Backpack: live order book, 2 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 BloFin live order book, 7 min ago | 0.03 bp | 6.1 bp −$6 | 8.5 bp −$85 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 2 min ago | 0.03 bp | 5.6 bp −$6 | 19.4 bp −$194 | 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 | −0.3089% | 1h | 1,474.7 | +0.337% | $34K | $275K | 12x | as long as short |
| Ondo Perps ZEC-USD.P | −0.0262% | 1h | 1,470.1 | +0.023% | $399K | $516K | 5x | as long as short |
| Kraken Futures PF_ZECUSD | −0.0225% | 1h | 1,470 | +0.015% | $17.9M | $44.3M | 25x | as long as short |
| Bybit ZECUSDT | −0.0110% | 8h | 1,469.1 | −0.047% | $274.7M | $654.9M | 75x | as long as short |
| BloFin ZEC-USDTlong | −0.0102% | 8h | 1,469.8 | long leg | $29.6M | $75.2M | 75x | |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,469.9 | +0.012% | $6K | $2K | 10x | as long as short |
| Variational Omni ZEC | −0.0051% | 8h | 1,469.5 | −0.019% | $47.0M | $33.7M | — | as long as short |
| ApeX Omni ZECUSDT | −0.0037% | 1h | 1,472.7 | +0.202% | $432K | $832K | 50x | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,469.8 | +0.001% | $414K | $104K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,469.8 | +0.005% | $901K | $5.6M | 2.2x | as long as short |
Injective ZEC/USDC PERP
Ondo Perps ZEC-USD.P
Kraken Futures PF_ZECUSD
Bybit ZECUSDT
Hotstuff ZEC-PERP
Variational Omni ZEC
ApeX Omni ZECUSDT
dYdX ZEC-USD
Kalshi KXZECPERPShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Perpl ZEC | 0.0000% | 43m | 1,470.9 | +0.078% | $84K | $404K | 10x | as long as short |
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,470.5 | +0.048% | $5.2M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0012% | 8h | 1,470.1 | +0.024% | $294K | $1.4M | 20x | as long as short |
| 01 Exchange ZECUSD | +0.0016% | 1h | 1,470.8 | +0.071% | $8K | $8K | 5x | as long as short |
| Phoenix ZEC | +0.0024% | 1h | 1,473.2 | +0.233% | $4.7M | $1.6M | 10x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0036% | 8h | 1,469.7 | −0.007% | $180.6M | $1.34B | 50x | as long as short |
| Gate ZEC_USDT | +0.0044% | 8h | 1,469.7 | −0.001% | $50.7M | $186.4M | 75x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0054% / S −0.0010% | 1h | 1,470.4 | +0.045% | $371K | — | 100x | as long as short |
| Deribit ZEC_USDC-PERPETUAL | +0.0065% | 1h | 1,471.1 | +0.088% | $614K | $1.3M | 25x | as long as short |
| Lighter ZEC | +0.0096% | 1h | 1,471.4 | +0.111% | $19.1M | $52.4M | 20x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,470.5 | +0.050% | $176K | $1.9M | 50x | as long as short |
| Katana Perps ZEC-USD | +0.0097% | 8h | 1,469.7 | −0.007% | $13K | $834K | 10x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,470.2 | +0.032% | $60K | $39K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,470.7 | +0.065% | $2.6M | $6.8M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,470.9 | +0.076% | $762.3M | $474.0M | 10x | as long as short |
| Aster ZECUSDT | +0.0100% | 8h | 1,469.8 | +0.003% | $15.0M | $32.7M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,470.9 | +0.079% | $1.7M | $2.9M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,469.7 | −0.002% | $683.3M | $2.46B | 75x | as long as short |
| Arcus ZEC-USD | +0.0100% | 1h | 1,472.3 | +0.170% | $721K | $8.3M | 10x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,473.1 | +0.225% | $909K | $26K | 10x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,469.8 | −0.001% | $231.6M | $837.5M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,470 | +0.019% | $103.5M | $56.0M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,469.8 | +0.003% | $162.8M | $302.0M | 75x | as long as short |
| BingX ZEC-USDT | +0.0100% | 8h | 1,469.7 | −0.003% | — | $102.6M | — | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,471.8 | +0.137% | $514K | $9.2M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,471.6 | +0.126% | $3.0M | $454K | 10x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,470.5 | +0.049% | $110K | $4.8M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,470.4 | +0.044% | $344K | $1.8M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,470.3 | +0.039% | $128K | $159K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,468.6 | −0.082% | $448K | $498K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,472.7 | +0.201% | $3K | $1.2M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,469.7 | −0.003% | $238K | $4.4M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,469.7 | −0.006% | $2.5M | $23.1M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,470.4 | +0.042% | $3.8M | $5.3M | 50x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,470.2 | +0.027% | $3.3M | $6.9M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,470.2 | +0.030% | $37K | $366K | 20x | as long as short |
| RISEx ZEC/USDC | +0.0132% | 1h | 1,471.3 | +0.103% | $825K | $1.2M | 10x | as long as short |
| Backpack ZEC_USDC_PERPshort | +0.0419% | 1h | 1,470.8 | +0.067% | $2.4M | $3.8M | 15x | |
| Coinbase International ZEC-PERP-INTX | +0.0432% | 1h | 1,472.3 | +0.169% | $3.8M | $10.6M | 50x | as long as short |
| Lighter RH ZEC | +0.0488% | 1h | 1,472.1 | +0.157% | $2.0M | $8.3M | 10x | as long as short |
| Aftermath Perps ZECUSD | +0.0700% | 1h | 1,472 | +0.152% | $46K | $47K | 10x | as long as short |
Perpl ZEC
gTrade (Gains Network) ZEC/USD
Orderly PERP_ZEC_USDC
01 Exchange ZECUSD
Phoenix ZEC
OKX ZEC-USDT-SWAP
Gate ZEC_USDT
GMX ZEC/USD [WBTC.b-USDC]
Deribit ZEC_USDC-PERPETUAL
Lighter ZEC
Popdex ZECUSDT
Katana Perps ZEC-USD
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Hyperliquid ZEC
Aster ZECUSDT
Pacifica ZEC
Binance ZECUSDT
Arcus ZEC-USD
Bulk ZEC-USD
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDT
edgeX ZECUSDC
GRVT ZEC_USDT_Perp
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
RISEx ZEC/USDC
Coinbase International ZEC-PERP-INTX
Lighter RH ZEC
Aftermath Perps ZECUSD