ZEC

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0441%/8h= −48.3% APRnext payment −$0.55 per $10,000 · paid last 24h −0.098%

Price spread now: Deribit against Coinbase International−0.148%7-day average −0.059% · you buy dearer than you sell

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$390.394% of the position

Long on Coinbase International Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.025%−$3 on $10k

Price spread, last 3 days (all we have)+0.080%+$8 · spread now −0.148%, 7d avg −0.059%

Together, before fees+0.055%+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Deribit is 0.089% cheaper against Coinbase International than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.059%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.025% in total (about -1.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.55 per $10,000. 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	Coinbase International ZEC-PERP-INTX	1,466.5	0.0448	pay 0.0056% / 1h	16m 49s	$3.7M	$9.6M	50x
Short	Deribit ZEC_USDC-PERPETUAL	1,464.3	0.0007	get 0.0001% / 1h	16m 49s	$602K	$1.3M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Coinbase International. 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 Coinbase InternationalbpFee DeribitbpOrdersPrice spread, now −0.148%Rate

Funding earned: −$92.66
Price spread: −0.148% → −0.059%: −$8.9
Slippage, 4 orders: −$22.36
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$140.92
Costs to cover: 0.394%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 2 min ago; Deribit: 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 Coinbase International live order book, 2 min ago	1.40 bp	9.1 bp −$9	14.7 bp −$147	55.6 bp −$5,560	doesn't fit
Sell Deribit live order book, 2 min ago	3.41 bp	6.9 bp −$7	14.3 bp −$143	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	−0.3321%	1h	1,466.3	−0.010%	$34K	$275K	12x	as long as short
Kraken Futures PF_ZECUSD	−0.0344%	1h	1,463.8	−0.179%	$17.8M	$43.0M	25x	as long as short
Ondo Perps ZEC-USD.P	−0.0117%	1h	1,463.3	−0.216%	$399K	$516K	5x	as long as short
BloFin ZEC-USDT	−0.0115%	8h	1,463.8	−0.181%	$29.7M	$72.6M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,465.2	−0.084%	$6K	$2K	10x	as long as short
Variational Omni ZEC	−0.0038%	8h	1,469.1	+0.180%	$47.6M	$33.7M	—	as long as short
dYdX ZEC-USD	0.0000%	1h	1,464.7	−0.120%	$412K	$103K	5x	as long as short
01 Exchange ZECUSD	0.0000%	1h	1,463.7	−0.192%	$8K	$9K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,464.4	−0.139%	$956K	$5.2M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,464.5	−0.136%	$83K	$405K	10x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit ZEC_USDC-PERPETUALshort	+0.0007%	1h	1,464.3	−0.148%	$602K	$1.3M	25x
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,464.1	−0.164%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0018%	8h	1,463.4	−0.207%	$292K	$1.1M	20x	as long as short
Phoenix ZEC	+0.0054%	1h	1,469.3	+0.195%	$4.6M	$1.6M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0054% / S −0.0010%	1h	1,463.8	−0.179%	$376K	—	100x	as long as short
OKX ZEC-USDT-SWAP	+0.0056%	8h	1,465.2	−0.089%	$181.0M	$1.29B	50x	as long as short
Bybit ZECUSDT	+0.0075%	8h	1,465.1	−0.095%	$272.9M	$633.5M	75x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,464.2	−0.155%	$173K	$1.9M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,464.8	−0.117%	$15K	$845K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,465.1	−0.096%	$60K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,465.5	−0.067%	$2.6M	$6.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,466.6	+0.009%	$761.2M	$453.2M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,465	−0.097%	$14.9M	$31.5M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,465.4	−0.074%	$1.7M	$2.8M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,465.2	−0.085%	$681.8M	$2.37B	75x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,466.6	+0.006%	$705K	$8.5M	10x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,465.9	−0.040%	$892K	$22K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,465.3	−0.078%	$50.3M	$180.6M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,465.4	−0.071%	$227.5M	$828.3M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,465	−0.101%	$104.0M	$55.7M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,465.4	−0.071%	$163.0M	$292.1M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,464.5	−0.137%	—	$6.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,468.4	+0.134%	$571K	$9.2M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,468	+0.105%	$3.0M	$447K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,469.5	+0.206%	$430K	$869K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,467.3	+0.059%	$110K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,464.3	−0.148%	$338K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,463.7	−0.187%	$127K	$158K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,462.2	−0.294%	$456K	$509K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,465.8	−0.046%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,463.8	−0.185%	$241K	$3.9M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,463	−0.236%	$2.5M	$21.1M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,464.5	−0.134%	$3.8M	$5.3M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,465.7	−0.052%	$3.2M	$7.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,463.9	−0.175%	$54K	$164K	20x	as long as short
Lighter ZEC	+0.0224%	1h	1,466.6	+0.010%	$19.1M	$50.5M	20x	as long as short
RISEx ZEC/USDC	+0.0228%	1h	1,465.1	−0.094%	$850K	$1.1M	10x	as long as short
Coinbase International ZEC-PERP-INTXlong	+0.0448%	1h	1,466.5	long leg	$3.7M	$9.6M	50x
Backpack ZEC_USDC_PERP	+0.0517%	1h	1,464.6	−0.126%	$2.5M	$3.9M	15x	as long as short
Lighter RH ZEC	+0.0744%	1h	1,467.4	+0.064%	$2.0M	$8.3M	10x	as long as short
Aftermath Perps ZECUSD	+0.0764%	1h	1,467.5	+0.069%	$43K	$46K	10x	as long as short