Funding you earn now, next payment 00:00 UTC+0.0234%/8h= +25.6% APRnext payment +$0.29 per $10,000 · paid last 24h +0.015%
Price spread now: Backpack against Deribit+0.027%7-day average −0.069% · you sell dearer than you buy
Net, funding: paid 7d − costs−$50as in the Funding arb table
Net, price: spread back to 7d avg − costs−$17as in the Price arb table
costs, in and out, $10k−$260.262% of the position
Funding, last 7 days−0.233%−$23 on $10k
+Price spread, last 3 days (all we have)−0.363%−$36 · spread now +0.027%, 7d avg −0.069%
=Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Backpack is 0.095% dearer against Deribit than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.069%. Mind the row above: over the last 7 days funding on this pair cost −0.233%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit ZEC_USDC-PERPETUAL | 1,473.6 | 0.0195 | pay 0.0024% / 1h | 34m 59s | $615K | $1.3M | 25x |
| Short | Backpack ZEC_USDC_PERP | 1,474 | 0.0429 | get 0.0054% / 1h | 34m 59s | $2.4M | $3.8M | 15x |
Deribit ZEC_USDC-PERPETUAL
Backpack ZEC_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Deribit. 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
- $49.06
- Price spread: +0.027% → −0.069%
- $9.52
- Slippage, 4 orders
- −$9.25
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $32.33
- Costs to cover
- 0.262%
- Break-even
- 2.4 days
Slippage from Deribit: live order book, 4 min ago; Backpack: live order book, 4 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 Deribit live order book, 4 min ago | 3.26 bp | 7.8 bp −$8 | 14.6 bp −$146 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 4 min ago | 0.03 bp | 6.6 bp −$7 | 21.5 bp −$215 | 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 | 1,473 | −0.040% | $34K | $275K | 12x | as long as short |
| Ondo Perps ZEC-USD.P | −0.0238% | 1h | 1,471.3 | −0.155% | $399K | $516K | 5x | as long as short |
| Kraken Futures PF_ZECUSD | −0.0225% | 1h | 1,473 | −0.041% | $17.9M | $44.3M | 25x | as long as short |
| Bybit ZECUSDT | −0.0105% | 8h | 1,472.5 | −0.074% | $275.3M | $656.2M | 75x | as long as short |
| BloFin ZEC-USDT | −0.0102% | 8h | 1,472.6 | −0.068% | $29.6M | $75.4M | 75x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,471.8 | −0.122% | $6K | $2K | 10x | as long as short |
| Variational Omni ZEC | −0.0051% | 8h | 1,469.5 | −0.278% | $47.0M | $33.7M | — | as long as short |
| ApeX Omni ZECUSDT | −0.0035% | 1h | 1,472 | −0.108% | $431K | $832K | 50x | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,471.2 | −0.159% | $414K | $104K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,472.8 | −0.053% | $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 | 1,471.6 | −0.136% | $84K | $404K | 10x | as long as short |
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,472.4 | −0.083% | $5.2M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0011% | 8h | 1,472.2 | −0.095% | $294K | $1.4M | 20x | as long as short |
| Phoenix ZEC | +0.0024% | 1h | 1,473.2 | −0.026% | $4.7M | $1.6M | 10x | as long as short |
| 01 Exchange ZECUSD | +0.0024% | 1h | 1,472.3 | −0.085% | $8K | $8K | 5x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0035% | 8h | 1,472.9 | −0.045% | $180.9M | $1.35B | 50x | as long as short |
| Gate ZEC_USDT | +0.0045% | 8h | 1,473.2 | −0.027% | $50.8M | $186.3M | 75x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0055% / S −0.0010% | 1h | 1,472.3 | −0.085% | $372K | — | 100x | as long as short |
| Lighter ZEC | +0.0096% | 1h | 1,474.3 | +0.049% | $19.2M | $52.3M | 20x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,472 | −0.107% | $176K | $1.9M | 50x | as long as short |
| Katana Perps ZEC-USD | +0.0097% | 8h | 1,471.2 | −0.159% | $13K | $830K | 10x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,471.6 | −0.135% | $60K | $39K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,472.4 | −0.080% | $2.6M | $6.8M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,473.9 | +0.022% | $764.0M | $473.8M | 10x | as long as short |
| Aster ZECUSDT | +0.0100% | 8h | 1,472.8 | −0.050% | $15.0M | $32.7M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,472.2 | −0.091% | $1.7M | $2.9M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,473.3 | −0.017% | $684.0M | $2.46B | 75x | as long as short |
| Arcus ZEC-USD | +0.0100% | 1h | 1,473.3 | −0.021% | $721K | $8.3M | 10x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,473.1 | −0.035% | $909K | $26K | 10x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,473.3 | −0.020% | $231.2M | $836.2M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,473 | −0.039% | $103.9M | $56.0M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,473.3 | −0.022% | $163.2M | $302.2M | 75x | as long as short |
| BingX ZEC-USDT | +0.0100% | 8h | 1,472.8 | −0.050% | — | $102.5M | — | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,471.8 | −0.123% | $514K | $9.2M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,471.6 | −0.133% | $3.0M | $454K | 10x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,471.4 | −0.149% | $110K | $4.8M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,471.8 | −0.121% | $346K | $1.8M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,471.9 | −0.114% | $128K | $159K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,470.8 | −0.190% | $448K | $498K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,474.2 | +0.044% | $3K | $1.2M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,472.7 | −0.057% | $238K | $4.4M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,471.6 | −0.136% | $2.5M | $23.1M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,473.1 | −0.033% | $3.9M | $5.3M | 50x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,473.6 | +0.004% | $3.3M | $6.9M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,472.5 | −0.073% | $37K | $366K | 20x | as long as short |
| RISEx ZEC/USDC | +0.0132% | 1h | 1,472.6 | −0.066% | $826K | $1.2M | 10x | as long as short |
| Deribit ZEC_USDC-PERPETUALlong | +0.0195% | 1h | 1,473.6 | long leg | $615K | $1.3M | 25x | |
| Backpack ZEC_USDC_PERPshort | +0.0429% | 1h | 1,474 | +0.027% | $2.4M | $3.8M | 15x | |
| Coinbase International ZEC-PERP-INTX | +0.0432% | 1h | 1,474.7 | +0.073% | $3.8M | $10.7M | 50x | as long as short |
| Lighter RH ZEC | +0.0496% | 1h | 1,474.6 | +0.069% | $2.0M | $8.3M | 10x | as long as short |
| Aftermath Perps ZECUSD | +0.0694% | 1h | 1,473.2 | −0.023% | $46K | $47K | 10x | as long as short |
Perpl ZEC
gTrade (Gains Network) ZEC/USD
Orderly PERP_ZEC_USDC
Phoenix ZEC
01 Exchange ZECUSD
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-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