Funding you earn now, next payment 23:00 UTC−0.0420%/8h= −46.0% APRpaid last 24h −0.104%
Price spread now: Orderly against Coinbase International−0.149%54s7-day average −0.114% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.253%−$25 on $10k
+Price spread, last 3 days (all we have)−0.003%$0 · spread now −0.149%, 7d avg −0.114%
=Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Orderly is 0.035% cheaper against Coinbase International than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.114%). Swap the legs. The two prices were read 54 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 -0.253% in total (about -13.2% 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 | Coinbase International ZEC-PERP-INTX | 1,473.5 | 0.0432 | pay 0.0054% / 1h | 27m 26s | $3.8M | $10.6M | 50x |
| Short | Orderly PERP_ZEC_USDC | 1,471.3 | 0.0012 | get 0.0012% / 8h | 27m 26s | $295K | $1.4M | 20x |
Coinbase International ZEC-PERP-INTX
Orderly PERP_ZEC_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- −$88.15
- Price spread: −0.149% → −0.114%
- −$3.5
- Slippage, 4 orders
- no order book: not counted
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$107.65
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Coinbase International: live order book, 2 min ago; Orderly: 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 Coinbase International live order book, 2 min ago | 1.66 bp | 11.0 bp −$11 | 14.2 bp −$142 | 41.7 bp −$4,166 | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: 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 | −0.3089% | 1h | 1,471.6 | −0.130% | $34K | $275K | 12x | as long as short |
| Ondo Perps ZEC-USD.P | −0.0260% | 1h | 1,468.3 | −0.354% | $399K | $515K | 5x | as long as short |
| Kraken Futures PF_ZECUSD | −0.0225% | 1h | 1,470 | −0.241% | $17.9M | $44.3M | 25x | as long as short |
| Bybit ZECUSDT | −0.0114% | 8h | 1,470.4 | −0.208% | $275.0M | $654.4M | 75x | as long as short |
| BloFin ZEC-USDT | −0.0102% | 8h | 1,470.6 | −0.200% | $29.6M | $75.2M | 75x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,469 | −0.305% | $6K | $2K | 10x | as long as short |
| Variational Omni ZEC | −0.0057% | 8h | 1,468.8 | −0.320% | $46.8M | $33.8M | — | as long as short |
| ApeX Omni ZECUSDT | −0.0006% | 1h | 1,470.3 | −0.221% | $431K | $842K | 50x | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,469.8 | −0.254% | $414K | $104K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,472.1 | −0.097% | $903K | $5.6M | 2.2x | as long as short |
Injective ZEC/USDC PERP
Ondo Perps ZEC-USD.P
Kraken Futures PF_ZECUSD
Bybit ZECUSDT
BloFin ZEC-USDT
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 | 1,468.6 | −0.331% | $83K | $404K | 10x | as long as short |
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,471.5 | −0.134% | $5.2M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDCshort | +0.0012% | 8h | 1,471.3 | −0.149% | $295K | $1.4M | 20x | |
| 01 Exchange ZECUSD | +0.0016% | 1h | 1,469.8 | −0.254% | $8K | $8K | 5x | as long as short |
| Phoenix ZEC | +0.0024% | 1h | 1,470.8 | −0.185% | $4.6M | $1.6M | 10x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0038% | 8h | 1,471.1 | −0.162% | $180.7M | $1.34B | 50x | as long as short |
| Gate ZEC_USDT | +0.0045% | 8h | 1,470.9 | −0.177% | $50.8M | $186.6M | 75x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0055% / S −0.0010% | 1h | 1,471 | −0.171% | $372K | — | 100x | as long as short |
| Lighter ZEC | +0.0096% | 1h | 1,470.3 | −0.220% | $19.1M | $52.4M | 20x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,469.7 | −0.259% | $175K | $1.9M | 50x | as long as short |
| Katana Perps ZEC-USD | +0.0097% | 8h | 1,468.8 | −0.322% | $13K | $836K | 10x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,468.6 | −0.333% | $60K | $39K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,469.4 | −0.276% | $2.6M | $6.8M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,470.8 | −0.184% | $762.6M | $474.4M | 10x | as long as short |
| Aster ZECUSDT | +0.0100% | 8h | 1,469.4 | −0.277% | $15.0M | $32.7M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,469.1 | −0.298% | $1.7M | $2.9M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,471.2 | −0.156% | $684.0M | $2.46B | 75x | as long as short |
| Arcus ZEC-USD | +0.0100% | 1h | 1,470.6 | −0.199% | $704K | $8.4M | 10x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,469.8 | −0.255% | $894K | $39K | 10x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,470.4 | −0.212% | $231.2M | $838.3M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,470 | −0.241% | $103.5M | $56.0M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,471.2 | −0.157% | $163.0M | $301.4M | 75x | as long as short |
| BingX ZEC-USDC | +0.0100% | 8h | 1,469.6 | −0.263% | — | $6.7M | — | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,470.6 | −0.198% | $513K | $9.2M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,470.2 | −0.227% | $3.0M | $454K | 10x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,470.7 | −0.193% | $110K | $4.8M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,470.2 | −0.225% | $344K | $1.8M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,470.5 | −0.202% | $128K | $159K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,469.7 | −0.256% | $448K | $498K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,472.8 | −0.050% | $3K | $1.2M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,469.7 | −0.257% | $238K | $4.4M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,469 | −0.306% | $2.5M | $23.1M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,470.2 | −0.228% | $3.8M | $5.3M | 50x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,469.1 | −0.301% | $3.3M | $6.9M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,471.2 | −0.160% | $37K | $366K | 20x | as long as short |
| RISEx ZEC/USDC | +0.0132% | 1h | 1,469.6 | −0.262% | $824K | $1.2M | 10x | as long as short |
| Deribit ZEC_USDC-PERPETUAL | +0.0273% | 1h | 1,472.4 | −0.075% | $614K | $1.3M | 25x | as long as short |
| Backpack ZEC_USDC_PERP | +0.0416% | 1h | 1,470.1 | −0.229% | $2.4M | $3.8M | 15x | as long as short |
| Coinbase International ZEC-PERP-INTXlong | +0.0432% | 1h | 1,473.5 | long leg | $3.8M | $10.6M | 50x | |
| Lighter RH ZEC | +0.0464% | 1h | 1,471 | −0.172% | $2.0M | $8.4M | 10x | as long as short |
| Aftermath Perps ZECUSD | +0.0714% | 1h | 1,472.1 | −0.097% | $46K | $47K | 10x | as long as short |
Perpl ZEC
gTrade (Gains Network) ZEC/USD
01 Exchange ZECUSD
Phoenix ZEC
OKX ZEC-USDT-SWAP
Gate ZEC_USDT
GMX ZEC/USD [WBTC.b-USDC]
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-USDC
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
Deribit ZEC_USDC-PERPETUAL
Backpack ZEC_USDC_PERP
Lighter RH ZEC
Aftermath Perps ZECUSD