Funding you earn now, next payment 23:00 UTC+0.0291%/8h= +31.8% APRnext payment +$0.36 per $10,000 · paid last 24h +0.007%
Price spread now: Backpack against Derive+0.165%7-day average +0.062% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.360%−$36 on $10k
+Price spread, last 3 days (all we have)−0.806%−$81 · spread now +0.165%, 7d avg +0.062%
=Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Backpack is 0.104% dearer against Derive than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.062%. Mind the row above: over the last 7 days funding on this pair cost −0.360%, 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 | Derive ZEC-PERP | 1,467.1 | 0.0100 | pay 0.0013% / 1h | 57m 00s | $448K | $498K | 6.7x |
| Short | Backpack ZEC_USDC_PERP | 1,469.5 | 0.0391 | get 0.0049% / 1h | 57m 00s | $2.4M | $4.1M | 15x |
Derive ZEC-PERP
Backpack ZEC_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Derive. 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
- $61.07
- Price spread: +0.165% → +0.062%
- $10.35
- Slippage, 4 orders
- no order book: not counted
- Fee Derive: 3 bp × 2 orders
- −$6
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $55.42
- Costs to cover
- 0.160%
- Break-even
- 0.6 days
Slippage unknown: Derive: no order-book sample; Backpack: live order book, 2 min ago. 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 Derive no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 2 min ago | 0.03 bp | 7.2 bp −$7 | 24.1 bp −$241 | doesn't fit | doesn't fit |
Derive: 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 | −0.3310% | 1h | 1,465.3 | −0.122% | $34K | $275K | 12x | as long as short |
| Kraken Futures PF_ZECUSD | −0.0404% | 1h | 1,468.7 | +0.108% | $17.8M | $44.7M | 25x | as long as short |
| BloFin ZEC-USDT | −0.0101% | 8h | 1,468.3 | +0.082% | $29.1M | $76.1M | 75x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,462.7 | −0.302% | $6K | $2K | 10x | as long as short |
| Bybit ZECUSDT | −0.0042% | 8h | 1,467 | −0.009% | $271.2M | $680.8M | 75x | as long as short |
| Ondo Perps ZEC-USD.P | −0.0020% | 1h | 1,463.8 | −0.226% | $396K | $517K | 5x | as long as short |
| Variational Omni ZEC | −0.0018% | 8h | 1,461.1 | −0.407% | $46.6M | $34.3M | — | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,466.1 | −0.073% | $413K | $106K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,467.9 | +0.054% | $941K | $5.6M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,467.3 | +0.011% | $83K | $401K | 10x | as long as short |
Injective ZEC/USDC PERP
Kraken Futures PF_ZECUSD
BloFin ZEC-USDT
Hotstuff ZEC-PERP
Bybit ZECUSDT
Ondo Perps ZEC-USD.P
Variational Omni ZEC
dYdX ZEC-USD
Kalshi KXZECPERP
Perpl ZECShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit ZEC_USDC-PERPETUAL | 0.0000% | 1h | 1,469.1 | +0.132% | $598K | $1.3M | 25x | as long as short |
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,468.9 | +0.119% | $5.2M | — | 150x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0010% / S +0.0077% | 1h | 1,468.5 | +0.092% | $561K | — | 100x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0015% | 8h | 1,468.4 | +0.085% | $294K | $1.5M | 20x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0054% | 8h | 1,467.6 | +0.032% | $176.0M | $1.37B | 50x | as long as short |
| Gate ZEC_USDT | +0.0059% | 8h | 1,467.9 | +0.055% | $50.2M | $183.0M | 75x | as long as short |
| 01 Exchange ZECUSD | +0.0064% | 1h | 1,468.2 | +0.070% | $8K | $8K | 5x | as long as short |
| Katana Perps ZEC-USD | +0.0096% | 8h | 1,467.6 | +0.034% | $14K | $865K | 10x | as long as short |
| Lighter ZEC | +0.0096% | 1h | 1,470.1 | +0.201% | $19.0M | $52.2M | 20x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,467 | −0.005% | $174K | $2.0M | 50x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,465.7 | −0.096% | $60K | $39K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,467.4 | +0.021% | $2.5M | $7.1M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,469.1 | +0.135% | $761.8M | $495.6M | 10x | as long as short |
| Aster ZECUSDT | +0.0100% | 8h | 1,467.6 | +0.032% | $15.4M | $33.8M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,466.5 | −0.044% | $1.7M | $3.1M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,467.9 | +0.053% | $672.0M | $2.54B | 75x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,460.8 | −0.431% | $899K | $25K | 10x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,468.1 | +0.067% | $223.1M | $848.7M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,467.5 | +0.027% | $103.6M | $57.1M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,467.7 | +0.040% | $162.6M | $311.2M | 75x | as long as short |
| BingX ZEC-USDT | +0.0100% | 8h | 1,467.6 | +0.032% | — | $102.6M | — | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,463.9 | −0.219% | $510K | $9.4M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,462.6 | −0.309% | $3.0M | $492K | 10x | as long as short |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,462.4 | −0.325% | $429K | $817K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,465.5 | −0.113% | $110K | $4.8M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,467.6 | +0.033% | $344K | $2.0M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,467.6 | +0.032% | $128K | $160K | 20x | as long as short |
| Derive ZEC-PERPlong | +0.0100% | 1h | 1,467.1 | long leg | $448K | $498K | 6.7x | |
| SunX ZEC-USDT | +0.0100% | 8h | 1,469.6 | +0.169% | $3K | $1.3M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,468.5 | +0.095% | $223K | $4.7M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,467.6 | +0.030% | $2.4M | $24.5M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,469.2 | +0.141% | $3.8M | $5.4M | 50x | as long as short |
| Phoenix ZEC | +0.0103% | 1h | 1,464.5 | −0.181% | $4.6M | $1.6M | 10x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,468.2 | +0.073% | $3.3M | $7.0M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,468.4 | +0.088% | $37K | $362K | 20x | as long as short |
| RISEx ZEC/USDC | +0.0190% | 1h | 1,468.3 | +0.081% | $846K | $1.8M | 10x | as long as short |
| Backpack ZEC_USDC_PERPshort | +0.0391% | 1h | 1,469.5 | +0.165% | $2.4M | $4.1M | 15x | |
| Coinbase International ZEC-PERP-INTX | +0.0424% | 1h | 1,469.9 | +0.186% | $3.7M | $11.7M | 50x | as long as short |
| Arcus ZEC-USD | +0.0444% | 1h | 1,467.8 | +0.048% | $742K | $8.1M | 10x | as long as short |
| Aftermath Perps ZECUSD | +0.0512% | 1h | 1,464 | −0.209% | $40K | $34K | 10x | as long as short |
| Lighter RH ZEC | +0.0552% | 1h | 1,470.6 | +0.234% | $2.0M | $8.2M | 10x | as long as short |
Deribit ZEC_USDC-PERPETUAL
gTrade (Gains Network) ZEC/USD
GMX ZEC/USD [WBTC.b-USDC]
Orderly PERP_ZEC_USDC
OKX ZEC-USDT-SWAP
Gate ZEC_USDT
01 Exchange ZECUSD
Katana Perps ZEC-USD
Lighter ZEC
Popdex ZECUSDT
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Hyperliquid ZEC
Aster ZECUSDT
Pacifica ZEC
Binance ZECUSDT
Bulk ZEC-USD
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDT
edgeX ZECUSDC
GRVT ZEC_USDT_Perp
ApeX Omni ZECUSDT
StandX ZEC-USD
Polymarket Perps ZEC-USD
Bullet ZEC-USD
SunX ZEC-USDT
SoDEX ZEC-USD
HTX ZEC-USDT
Phemex ZECUSDT
Phoenix ZEC
Extended ZEC-USD
Aevo ZEC-PERP
RISEx ZEC/USDC
Coinbase International ZEC-PERP-INTX
Arcus ZEC-USD
Aftermath Perps ZECUSD
Lighter RH ZEC