Funding you earn now, next payment 02:00 UTC−0.0356%/8h= −39.0% APRnext payment −$0.44 per $10,000 · paid last 24h −0.057%
Price spread now: Hyperliquid against Coinbase International+0.105%49s7-day average −0.108% · you sell dearer than you buy
Net, funding: paid 7d − costs−$21as 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−$380.381% of the position
Funding, last 7 days+0.175%+$17 on $10k
+Price spread, last 4 days (all we have)−1.580%−$158 · spread now +0.105%, 7d avg −0.108%
=Together, before fees−1.405%+ Points / potential airdropHyperliquid: Season 2 · farm board−$141 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Hyperliquid is 0.212% dearer against Coinbase International than usual: you sell high and buy low (spread +0.105% now, against its 7-day average of −0.108%): +$21 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 48 hours. Mind the row above: over the last 7 days funding on this pair paid +0.175%, so the current rate has only just turned against you. The two prices were read 49 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 0.175% in total (about 9.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.44 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 | 1,462 | 0.0456 | pay 0.0057% / 1h | 45m 29s | $3.6M | $8.9M | 50x |
| Short | Hyperliquid ZEC | 1,463.5 | 0.0100 | get 0.0013% / 1h | 45m 29s | $762.7M | $432.8M | 10x |
Coinbase International ZEC-PERP-INTX
Hyperliquid ZECFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$74.76
- Price spread: +0.105% → −0.108%
- $21.22
- Slippage, 4 orders
- −$19.08
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$91.63
- Costs to cover
- 0.381%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 4 min ago; Hyperliquid: live order book, 9 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, 4 min ago | 1.78 bp | 14.2 bp −$14 | 18.4 bp −$184 | 54.4 bp −$5,435 | doesn't fit |
| Sell Hyperliquid live order book, 9 min ago | 0.34 bp | 5.1 bp −$5 | 7.0 bp −$70 | 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 | −0.3244% | 1h | 1,469.5 | +0.517% | $34K | $272K | 12x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,461.3 | −0.047% | $6K | $1K | 10x | as long as short |
| BloFin ZEC-USDT | −0.0077% | 8h | 1,458.2 | −0.261% | — | $70.9M | 75x | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,461.1 | −0.059% | $411K | $46K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,459.8 | −0.146% | $963K | $4.6M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,461.8 | −0.014% | $84K | $249K | 10x | as long as short |
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,460.4 | −0.105% | $5.2M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0036% | 8h | 1,460.4 | −0.108% | $292K | $979K | 20x | as long as short |
| Deribit ZEC_USDC-PERPETUAL | +0.0047% | 1h | 1,460.9 | −0.075% | $608K | $1.3M | 25x | as long as short |
| Ondo Perps ZEC-USD.P | +0.0049% | 1h | 1,459.8 | −0.148% | $396K | $433K | 5x | as long as short |
Injective ZEC/USDC PERP
Hotstuff ZEC-PERP
BloFin ZEC-USDT
dYdX ZEC-USD
Kalshi KXZECPERP
Perpl ZEC
gTrade (Gains Network) ZEC/USD
Orderly PERP_ZEC_USDC
Deribit ZEC_USDC-PERPETUAL
Ondo Perps ZEC-USD.PShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0054% / S −0.0009% | 1h | 1,460.5 | −0.099% | $379K | — | 100x | as long as short |
| ApeX Omni ZECUSDT | +0.0073% | 1h | 1,462 | +0.003% | $425K | $879K | 50x | as long as short |
| Phoenix ZEC | +0.0074% | 1h | 1,459.6 | −0.162% | $4.6M | $1.4M | 10x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,462.7 | +0.047% | $173K | $1.8M | 50x | as long as short |
| Variational Omni ZEC | +0.0098% | 8h | 1,459.8 | −0.146% | $47.4M | $31.8M | — | as long as short |
| Katana Perps ZEC-USD | +0.0100% | 8h | 1,462.8 | +0.054% | $19K | $839K | 10x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,462.6 | +0.043% | $60K | $43K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,462.6 | +0.042% | $2.6M | $6.5M | 10x | as long as short |
| Hyperliquid ZECshort | +0.0100% | 1h | 1,463.5 | +0.105% | $762.7M | $432.8M | 10x | |
| Aster ZECUSDT | +0.0100% | 8h | 1,461.6 | −0.028% | $14.5M | $29.0M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,461.7 | −0.020% | $1.7M | $2.6M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,462.4 | +0.032% | $674.2M | $2.25B | 75x | as long as short |
| Bybit ZECUSDT | +0.0100% | 8h | 1,462.1 | +0.007% | $270.1M | $605.3M | 75x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0100% | 8h | 1,462.4 | +0.028% | $179.9M | $1.23B | 50x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,458.7 | −0.227% | $886K | $16K | 10x | as long as short |
| Gate ZEC_USDT | +0.0100% | 8h | 1,462.4 | +0.027% | $50.0M | $170.6M | 75x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,462.5 | +0.034% | $215.7M | $770.4M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,462.2 | +0.018% | $102.8M | $55.9M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,462.4 | +0.029% | $162.3M | $275.5M | 75x | as long as short |
| BingX ZEC-USDT | +0.0100% | 8h | 1,462.6 | +0.044% | — | $97.1M | — | as long as short |
| Backpack ZEC_USDC_PERP | +0.0100% | 1h | 1,460.9 | −0.073% | $2.4M | $3.8M | 15x | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,459 | −0.206% | $568K | $8.9M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,459.3 | −0.182% | $3.0M | $418K | 10x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,460.4 | −0.107% | $70K | $4.7M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,462.1 | +0.009% | $340K | $1.8M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,462.4 | +0.028% | $127K | $160K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,459.1 | −0.194% | $445K | $521K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,462.3 | +0.022% | $3K | $1.2M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,459.4 | −0.178% | $241K | $3.5M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,459.3 | −0.180% | $2.5M | $18.1M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,459.7 | −0.158% | $3.8M | $5.1M | 50x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,462.7 | +0.049% | $2.8M | $7.7M | 10x | as long as short |
| 01 Exchange ZECUSD | +0.0104% | 1h | 1,463.1 | +0.077% | $8K | $7K | 5x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,460.2 | −0.122% | $48K | $155K | 20x | as long as short |
| Lighter ZEC | +0.0176% | 1h | 1,462.8 | +0.059% | $19.1M | $45.9M | 20x | as long as short |
| Kraken Futures PF_ZECUSD | +0.0195% | 1h | 1,459.6 | −0.162% | $18.0M | $43.7M | 25x | as long as short |
| Arcus ZEC-USD | +0.0277% | 1h | 1,463.9 | +0.132% | $707K | $8.5M | 10x | as long as short |
| Lighter RH ZEC | +0.0328% | 1h | 1,463 | +0.068% | $2.1M | $6.8M | 10x | as long as short |
| RISEx ZEC/USDC | +0.0409% | 1h | 1,463.3 | +0.089% | $838K | $1.0M | 10x | as long as short |
| Coinbase International ZEC-PERP-INTXlong | +0.0456% | 1h | 1,462 | long leg | $3.6M | $8.9M | 50x | |
| Aftermath Perps ZECUSD | +0.0708% | 1h | 1,463.6 | +0.113% | $43K | $46K | 10x | as long as short |
GMX ZEC/USD [WBTC.b-USDC]
ApeX Omni ZECUSDT
Phoenix ZEC
Popdex ZECUSDT
Variational Omni ZEC
Katana Perps ZEC-USD
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Aster ZECUSDT
Pacifica ZEC
Binance ZECUSDT
Bybit ZECUSDT
OKX ZEC-USDT-SWAP
Bulk ZEC-USD
Gate ZEC_USDT
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDT
Backpack ZEC_USDC_PERP
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
01 Exchange ZECUSD
Aevo ZEC-PERP
Lighter ZEC
Kraken Futures PF_ZECUSD
Arcus ZEC-USD
Lighter RH ZEC
RISEx ZEC/USDC
Aftermath Perps ZECUSD