Funding you earn now, next payment 23:00 UTC−0.0505%/8h= −55.3% APRnext payment −$0.63 per $10,000 · paid last 24h −0.027%
Price spread now: Kraken Futures against Derive+0.078%7-day average +0.100% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.412%−$41 on $10k
+Price spread, last 3 days (all we have)+0.016%+$2 · spread now +0.078%, 7d avg +0.100%
=Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and Kraken Futures is 0.022% cheaper against Derive than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.100%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Derive ZEC-PERP | 1,460.9 | 0.0100 | pay 0.0013% / 1h | 36m 03s | $446K | $502K | 6.7x |
| Short | Kraken Futures PF_ZECUSD | 1,462.1 | −0.0405 | pay 0.0051% / 1h | 36m 03s | $17.8M | $44.8M | 25x |
Derive ZEC-PERP
Kraken Futures PF_ZECUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures 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
- −$106.14
- Price spread: +0.078% → +0.100%
- −$2.23
- Slippage, 4 orders
- no order book: not counted
- Fee Derive: 3 bp × 2 orders
- −$6
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$124.37
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Derive: no order-book sample; Kraken Futures: live order book, 3 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 Kraken Futures live order book, 3 min ago | 1.98 bp | 9.3 bp −$9 | 15.8 bp −$158 | 30.6 bp −$3,064 | 136.4 bp −$68.2K |
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 | 1,462.2 | +0.089% | $34K | $275K | 12x | as long as short |
| Kraken Futures PF_ZECUSDshort | −0.0405% | 1h | 1,462.1 | +0.078% | $17.8M | $44.8M | 25x | |
| Ondo Perps ZEC-USD.P | −0.0220% | 1h | 1,459.3 | −0.111% | $396K | $518K | 5x | as long as short |
| BloFin ZEC-USDT | −0.0089% | 8h | 1,461.8 | +0.063% | $29.3M | $75.2M | 75x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,462.2 | +0.086% | $6K | $2K | 10x | as long as short |
| Bybit ZECUSDT | −0.0050% | 8h | 1,461.5 | +0.041% | $270.7M | $673.5M | 75x | as long as short |
| Variational Omni ZEC | −0.0026% | 8h | 1,465.3 | +0.297% | $46.6M | $34.0M | — | as long as short |
| ApeX Omni ZECUSDT | −0.0024% | 1h | 1,463.5 | +0.175% | $430K | $820K | 50x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L −0.0017% / S +0.0093% | 1h | 1,462.7 | +0.119% | $540K | — | 100x | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,461.6 | +0.047% | $412K | $106K | 5x | as long as short |
Injective ZEC/USDC PERP
Ondo Perps ZEC-USD.P
BloFin ZEC-USDT
Hotstuff ZEC-PERP
Bybit ZECUSDT
Variational Omni ZEC
ApeX Omni ZECUSDT
GMX ZEC/USD [WBTC.b-USDC]
dYdX ZEC-USDShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kalshi KXZECPERP | 0.0000% | 8h | 1,462.8 | +0.126% | $885K | $5.7M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,461.9 | +0.065% | $83K | $404K | 10x | as long as short |
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,462.8 | +0.127% | $5.2M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0014% | 8h | 1,462.4 | +0.099% | $292K | $1.5M | 20x | as long as short |
| Bulk ZEC-USD | +0.0030% | 1h | 1,466 | +0.349% | $905K | $27K | 10x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0047% | 8h | 1,461.9 | +0.064% | $175.6M | $1.35B | 50x | as long as short |
| Gate ZEC_USDT | +0.0048% | 8h | 1,461.8 | +0.060% | $50.0M | $184.8M | 75x | as long as short |
| 01 Exchange ZECUSD | +0.0056% | 1h | 1,462.5 | +0.111% | $8K | $8K | 5x | as long as short |
| Deribit ZEC_USDC-PERPETUAL | +0.0073% | 1h | 1,463.3 | +0.161% | $595K | $1.3M | 25x | as long as short |
| Phoenix ZEC | +0.0075% | 1h | 1,461.4 | +0.030% | $4.6M | $1.6M | 10x | as long as short |
| Katana Perps ZEC-USD | +0.0096% | 8h | 1,462.6 | +0.116% | $14K | $862K | 10x | as long as short |
| Lighter ZEC | +0.0096% | 1h | 1,463.5 | +0.179% | $18.9M | $52.5M | 20x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,462.1 | +0.084% | $173K | $1.9M | 50x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,461.5 | +0.041% | $60K | $39K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,462.3 | +0.097% | $2.5M | $6.9M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,462.9 | +0.136% | $758.2M | $484.8M | 10x | as long as short |
| Aster ZECUSDT | +0.0100% | 8h | 1,461.7 | +0.052% | $15.6M | $33.3M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,462.5 | +0.107% | $1.7M | $3.0M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,462.2 | +0.091% | $673.7M | $2.50B | 75x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,462 | +0.076% | $223.0M | $860.2M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,462.2 | +0.090% | $103.6M | $56.3M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,462.1 | +0.082% | $161.7M | $306.8M | 75x | as long as short |
| BingX ZEC-USDC | +0.0100% | 8h | 1,461.2 | +0.017% | — | $6.7M | — | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,463.4 | +0.168% | $509K | $9.5M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,462.3 | +0.097% | $3.0M | $481K | 10x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,462.6 | +0.114% | $109K | $4.8M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,462 | +0.074% | $343K | $1.9M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,462.2 | +0.089% | $127K | $160K | 20x | as long as short |
| Derive ZEC-PERPlong | +0.0100% | 1h | 1,460.9 | long leg | $446K | $502K | 6.7x | |
| SunX ZEC-USDT | +0.0100% | 8h | 1,464.4 | +0.236% | $3K | $1.3M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,462.1 | +0.084% | $222K | $4.5M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,461.2 | +0.021% | $2.5M | $24.1M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,462.6 | +0.113% | $3.8M | $5.4M | 50x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,462.8 | +0.127% | $3.2M | $6.9M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,462.4 | +0.101% | $36K | $367K | 20x | as long as short |
| Backpack ZEC_USDC_PERP | +0.0188% | 1h | 1,462.8 | +0.131% | $2.3M | $3.8M | 15x | as long as short |
| RISEx ZEC/USDC | +0.0190% | 1h | 1,462.4 | +0.104% | $841K | $1.7M | 10x | as long as short |
| Lighter RH ZEC | +0.0368% | 1h | 1,464.2 | +0.225% | $2.0M | $8.2M | 10x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0424% | 1h | 1,464.1 | +0.216% | $3.7M | $11.6M | 50x | as long as short |
| Arcus ZEC-USD | +0.0444% | 1h | 1,463.4 | +0.171% | $741K | $8.1M | 10x | as long as short |
| Aftermath Perps ZECUSD | +0.0540% | 1h | 1,464.2 | +0.226% | $40K | $34K | 10x | as long as short |
Kalshi KXZECPERP
Perpl ZEC
gTrade (Gains Network) ZEC/USD
Orderly PERP_ZEC_USDC
Bulk ZEC-USD
OKX ZEC-USDT-SWAP
Gate ZEC_USDT
01 Exchange ZECUSD
Deribit ZEC_USDC-PERPETUAL
Phoenix ZEC
Katana Perps ZEC-USD
Lighter ZEC
Popdex ZECUSDT
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Hyperliquid ZEC
Aster ZECUSDT
Pacifica ZEC
Binance ZECUSDT
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
SunX ZEC-USDT
SoDEX ZEC-USD
HTX ZEC-USDT
Phemex ZECUSDT
Extended ZEC-USD
Aevo ZEC-PERP
Backpack ZEC_USDC_PERP
RISEx ZEC/USDC
Lighter RH ZEC
Coinbase International ZEC-PERP-INTX
Arcus ZEC-USD
Aftermath Perps ZECUSD