Funding you earn now, next payment 04:00 UTC−0.0065%/8h= −7.1% APRnext payment −$0.08 per $10,000 · paid last 24h +0.026%
Price spread now: Hyperliquid against Deribit+0.131%7-day average −0.048% · you sell dearer than you buy
Net, funding: paid 7d − costs−$8as in the Funding arb table
Net, price: spread back to 7d avg − costs−$11as in the Price arb table
costs, in and out, $10k−$280.285% of the position
Funding, last 7 days+0.205%+$21 on $10k
+Price spread, last 4 days (all we have)−1.581%−$158 · spread now +0.131%, 7d avg −0.048%
=Together, before fees−1.375%+ Points / potential airdropHyperliquid: Season 2 · farm board−$138 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Hyperliquid is 0.179% dearer against Deribit than usual: you sell high and buy low (spread +0.131% now, against its 7-day average of −0.048%): +$18 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 9.2 days. Mind the row above: over the last 7 days funding on this pair paid +0.205%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit ZEC_USDC-PERPETUAL | 1,450 | 0.0165 | pay 0.0021% / 1h | 54m 34s | $608K | $1.3M | 25x |
| Short | Hyperliquid ZEC | 1,451.9 | 0.0100 | get 0.0013% / 1h | 54m 34s | $755.3M | $434.1M | 10x |
Deribit ZEC_USDC-PERPETUAL
Hyperliquid ZECFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid 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
- −$13.56
- Price spread: +0.131% → −0.048%
- $17.88
- Slippage, 4 orders
- −$12.48
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$24.17
- Costs to cover
- 0.285%
- Break-even
- never at this rate
Slippage from Deribit: live order book, 4 min ago; Hyperliquid: live order book, 10 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 | 5.30 bp | 8.8 bp −$9 | 14.3 bp −$143 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 10 min ago | 0.34 bp | 4.8 bp −$5 | 5.1 bp −$51 | 5.5 bp −$549 | 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 | −0.3166% | 1h | 1,451.5 | +0.101% | $33K | $272K | 12x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,449.4 | −0.039% | $6K | $1K | 10x | as long as short |
| BloFin ZEC-USDT | −0.0077% | 8h | 1,449.8 | −0.012% | $29.3M | $70.4M | 75x | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,449.3 | −0.050% | $408K | $40K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,451.2 | +0.082% | $1.5M | $4.6M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,449.3 | −0.046% | $83K | $240K | 10x | as long as short |
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,449.7 | −0.021% | $5.1M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0057% | 8h | 1,449.8 | −0.012% | $290K | $958K | 20x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0063% / S −0.0014% | 1h | 1,449.6 | −0.026% | $408K | — | 100x | as long as short |
| 01 Exchange ZECUSD | +0.0072% | 1h | 1,449.9 | −0.007% | $8K | $7K | 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
GMX ZEC/USD [WBTC.b-USDC]
01 Exchange ZECUSDShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix ZEC | +0.0074% | 1h | 1,451.4 | +0.097% | $4.6M | $1.3M | 10x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,449.9 | −0.009% | $173K | $1.7M | 50x | as long as short |
| Katana Perps ZEC-USD | +0.0100% | 8h | 1,449.5 | −0.035% | $9K | $871K | 10x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,449.4 | −0.043% | $60K | $43K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,449.4 | −0.043% | $2.5M | $6.3M | 10x | as long as short |
| Hyperliquid ZECshort | +0.0100% | 1h | 1,451.9 | +0.131% | $755.3M | $434.1M | 10x | |
| Aster ZECUSDT | +0.0100% | 8h | 1,450 | −0.001% | $14.4M | $27.7M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,449.4 | −0.044% | $1.6M | $2.5M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,449.8 | −0.012% | $665.0M | $2.21B | 75x | as long as short |
| Bybit ZECUSDT | +0.0100% | 8h | 1,449.2 | −0.057% | $261.6M | $603.3M | 75x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0100% | 8h | 1,449.8 | −0.011% | $177.5M | $1.22B | 50x | as long as short |
| Ondo Perps ZEC-USD.P | +0.0100% | 1h | 1,448.7 | −0.090% | $395K | $449K | 5x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,449.4 | −0.039% | $876K | $23K | 10x | as long as short |
| Gate ZEC_USDT | +0.0100% | 8h | 1,449 | −0.067% | $49.7M | $171.7M | 75x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,449.2 | −0.057% | $212.5M | $766.9M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,449.3 | −0.050% | $101.9M | $55.0M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,449.6 | −0.031% | $161.6M | $272.1M | 75x | as long as short |
| BingX ZEC-USDT | +0.0100% | 8h | 1,449.2 | −0.059% | — | $98.0M | — | as long as short |
| Backpack ZEC_USDC_PERP | +0.0100% | 1h | 1,450.4 | +0.029% | $2.5M | $3.8M | 15x | as long as short |
| Variational Omni ZEC | +0.0100% | 8h | 1,451.4 | +0.096% | $47.5M | $32.8M | — | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,448.5 | −0.105% | $564K | $8.7M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,452.4 | +0.168% | $3.0M | $432K | 10x | as long as short |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,450 | −0.002% | $408K | $912K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,450.6 | +0.043% | $49K | $4.7M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,449.7 | −0.021% | $366K | $1.8M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,449.8 | −0.014% | $160K | $185K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,448.9 | −0.077% | $442K | $521K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,453.4 | +0.234% | $3K | $1.2M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,449.4 | −0.043% | $232K | $3.4M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,449 | −0.069% | $2.6M | $18.1M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,450.3 | +0.017% | $3.8M | $5.1M | 50x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,449.2 | −0.053% | $2.8M | $7.7M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,449.6 | −0.028% | $47K | $151K | 20x | as long as short |
| Deribit ZEC_USDC-PERPETUALlong | +0.0165% | 1h | 1,450 | long leg | $608K | $1.3M | 25x | |
| Kraken Futures PF_ZECUSD | +0.0278% | 1h | 1,449.3 | −0.045% | $17.9M | $44.7M | 25x | as long as short |
| Lighter ZEC | +0.0304% | 1h | 1,450.5 | +0.035% | $19.0M | $45.8M | 20x | as long as short |
| RISEx ZEC/USDC | +0.0412% | 1h | 1,450.1 | +0.007% | $830K | $1.0M | 10x | as long as short |
| Lighter RH ZEC | +0.0416% | 1h | 1,451 | +0.067% | $2.0M | $6.9M | 10x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0448% | 1h | 1,451.6 | +0.110% | $3.7M | $8.9M | 50x | as long as short |
| Arcus ZEC-USD | +0.0626% | 1h | 1,451.5 | +0.105% | $725K | $8.3M | 10x | as long as short |
| Aftermath Perps ZECUSD | +0.0675% | 1h | 1,451.3 | +0.087% | $44K | $49K | 10x | as long as short |
Phoenix ZEC
Popdex ZECUSDT
Katana Perps ZEC-USD
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Aster ZECUSDT
Pacifica ZEC
Binance ZECUSDT
Bybit ZECUSDT
OKX ZEC-USDT-SWAP
Ondo Perps ZEC-USD.P
Bulk ZEC-USD
Gate ZEC_USDT
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDT
Backpack ZEC_USDC_PERP
Variational Omni ZEC
edgeX ZECUSDC
GRVT ZEC_USDT_Perp
ApeX Omni ZECUSDT
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
Kraken Futures PF_ZECUSD
Lighter ZEC
RISEx ZEC/USDC
Lighter RH ZEC
Coinbase International ZEC-PERP-INTX
Arcus ZEC-USD
Aftermath Perps ZECUSD