Funding you earn now, next payment 22:00 UTC−0.0171%/8h= −18.7% APRnext payment −$0.21 per $10,000 · paid last 24h −0.007%
Price spread now: GMX against Bullet−0.457%57s7-day average +0.041% · 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)−0.105%−$10 on $10k
+Price spread, last 3 days (all we have)+0.907%+$91 · spread now −0.457%, 7d avg +0.041%
=Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and GMX is 0.498% cheaper against Bullet than usual: you would sell low and buy high (−$50 if the spread goes back to its 7-day average of +0.041%). Swap the legs. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bullet ZEC-USD | 1,450.6 | 0.0100 | pay 0.0013% / 1h | 30m 22s | $127K | $161K | 20x |
| Short | GMX ZEC/USD [WBTC.b-USDC] | 1,444 | L +0.0028% / S +0.0071% | pay 0.0009% / 1h | 30m 22s | $542K | — | 100x |
Bullet ZEC-USD
GMX ZEC/USD [WBTC.b-USDC]Funding history
latest
Range statsloading…
Price spread between the two exchanges
GMX against Bullet. 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
- −$35.89
- Price spread: −0.457% → +0.041%
- −$49.83
- Slippage, 4 orders
- no order book: not counted
- Fee Bullet: 4 bp × 2 orders
- −$8
- Fee GMX: 6 bp × 2 orders
- −$12
- Net
- −$105.71
- Costs to cover
- 0.200%
- Break-even
- never at this rate
Slippage unknown: Bullet: live order book, 58 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 Bullet live order book, 58 min ago | 0.34 bp | 5.8 bp −$6 | 11.5 bp −$115 | 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 | −0.3476% | 1h | 1,433.1 | −1.207% | $33K | $275K | 12x | as long as short |
| BloFin ZEC-USDT | −0.0092% | 8h | 1,445.6 | −0.348% | $28.8M | $74.8M | 75x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,444.6 | −0.420% | $6K | $2K | 10x | as long as short |
| Kraken Futures PF_ZECUSD | −0.0072% | 1h | 1,445.1 | −0.382% | $17.6M | $44.5M | 25x | as long as short |
| Variational Omni ZEC | −0.0009% | 8h | 1,449.1 | −0.106% | $45.6M | $32.2M | — | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,448.6 | −0.141% | $408K | $106K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,444.6 | −0.420% | $907K | $5.7M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,449.7 | −0.065% | $82K | $401K | 10x | as long as short |
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,451.1 | +0.030% | $5.1M | — | 150x | as long as short |
| Bybit ZECUSDT | +0.0008% | 8h | 1,449.8 | −0.058% | $267.3M | $675.2M | 75x | as long as short |
Injective ZEC/USDC PERP
BloFin ZEC-USDT
Hotstuff ZEC-PERP
Kraken Futures PF_ZECUSD
Variational Omni ZEC
dYdX ZEC-USD
Kalshi KXZECPERP
Perpl ZEC
gTrade (Gains Network) ZEC/USD
Bybit ZECUSDTShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit ZEC_USDC-PERPETUAL | +0.0009% | 1h | 1,445.8 | −0.337% | $588K | $1.3M | 25x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0015% | 8h | 1,444.8 | −0.405% | $290K | $1.5M | 20x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC]short | L +0.0028% / S +0.0071% | 1h | 1,444 | −0.457% | $542K | — | 100x | |
| OKX ZEC-USDT-SWAP | +0.0055% | 8h | 1,450.4 | −0.019% | $171.7M | $1.35B | 50x | as long as short |
| 01 Exchange ZECUSD | +0.0072% | 1h | 1,449.7 | −0.066% | $8K | $8K | 5x | as long as short |
| Gate ZEC_USDT | +0.0074% | 8h | 1,449.3 | −0.094% | $49.6M | $189.0M | 75x | as long as short |
| Aster ZECUSDT | +0.0078% | 8h | 1,449.1 | −0.107% | $15.3M | $34.6M | 75x | as long as short |
| Katana Perps ZEC-USD | +0.0095% | 8h | 1,448.9 | −0.118% | $13K | $873K | 10x | as long as short |
| Lighter ZEC | +0.0096% | 1h | 1,448.9 | −0.120% | $18.7M | $54.4M | 20x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,449.5 | −0.082% | $173K | $2.0M | 50x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,449.4 | −0.085% | $60K | $37K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,450.5 | −0.010% | $2.4M | $7.1M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,450.5 | −0.010% | $749.3M | $495.0M | 10x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,448.5 | −0.147% | $1.6M | $3.1M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,451.1 | +0.034% | $661.5M | $2.53B | 75x | as long as short |
| Ondo Perps ZEC-USD.P | +0.0100% | 1h | 1,441.6 | −0.624% | $392K | $516K | 5x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,445 | −0.389% | $890K | $32K | 10x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,451 | +0.022% | $215.7M | $892.6M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,449.8 | −0.060% | $102.8M | $56.9M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,450.4 | −0.014% | $160.6M | $313.1M | 75x | as long as short |
| BingX ZEC-USDC | +0.0100% | 8h | 1,451.1 | +0.034% | — | $6.8M | — | as long as short |
| Backpack ZEC_USDC_PERP | +0.0100% | 1h | 1,446.6 | −0.281% | $2.3M | $4.1M | 15x | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,445.3 | −0.369% | $485K | $9.8M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,448.7 | −0.136% | $3.0M | $501K | 10x | as long as short |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,445.1 | −0.385% | $703K | $607K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,444.4 | −0.433% | $108K | $4.8M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,449.7 | −0.065% | $349K | $2.0M | 10x | as long as short |
| Bullet ZEC-USDlong | +0.0100% | 1h | 1,450.6 | long leg | $127K | $161K | 20x | |
| Derive ZEC-PERP | +0.0100% | 1h | 1,443.3 | −0.503% | $439K | $493K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,445.7 | −0.340% | $3K | $1.3M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,445.4 | −0.362% | $219K | $4.7M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,445.1 | −0.382% | $2.3M | $24.9M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,445.5 | −0.354% | $3.7M | $5.3M | 50x | as long as short |
| Phoenix ZEC | +0.0103% | 1h | 1,445.9 | −0.327% | $4.5M | $1.6M | 10x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,449.4 | −0.087% | $3.2M | $6.9M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,444.9 | −0.397% | $36K | $362K | 20x | as long as short |
| RISEx ZEC/USDC | +0.0219% | 1h | 1,450 | −0.048% | $865K | $1.9M | 10x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0440% | 1h | 1,447.1 | −0.242% | $3.7M | $11.4M | 50x | as long as short |
| Aftermath Perps ZECUSD | +0.0455% | 1h | 1,448.9 | −0.121% | $39K | $32K | 10x | as long as short |
| Arcus ZEC-USD | +0.0518% | 1h | 1,451.2 | +0.042% | $766K | $7.9M | 10x | as long as short |
| Lighter RH ZEC | +0.0672% | 1h | 1,450.6 | −0.005% | $1.9M | $8.5M | 10x | as long as short |
Deribit ZEC_USDC-PERPETUAL
Orderly PERP_ZEC_USDC
OKX ZEC-USDT-SWAP
01 Exchange ZECUSD
Gate ZEC_USDT
Aster ZECUSDT
Katana Perps ZEC-USD
Lighter ZEC
Popdex ZECUSDT
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Hyperliquid ZEC
Pacifica ZEC
Binance ZECUSDT
Ondo Perps ZEC-USD.P
Bulk ZEC-USD
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDC
Backpack ZEC_USDC_PERP
edgeX ZECUSDC
GRVT ZEC_USDT_Perp
ApeX Omni ZECUSDT
StandX ZEC-USD
Polymarket Perps ZEC-USD
Derive ZEC-PERP
SunX ZEC-USDT
SoDEX ZEC-USD
HTX ZEC-USDT
Phemex ZECUSDT
Phoenix ZEC
Extended ZEC-USD
Aevo ZEC-PERP
RISEx ZEC/USDC
Coinbase International ZEC-PERP-INTX
Aftermath Perps ZECUSD
Arcus ZEC-USD
Lighter RH ZEC