ZEC

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0398%/8h= +43.6% APRnext payment +$0.50 per $10,000 · paid last 24h +0.032%

Price spread now: Backpack against dYdX+0.058%7-day average −0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$137as in the Funding arb table

Net, price: spread back to 7d avg − costs−$96as in the Price arb table

costs, in and out, $10k−$1021.023% of the position

Long on dYdX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.350%−$35 on $10k

Price spread, last 4 days (all we have)−0.098%−$10 · spread now +0.058%, 7d avg −0.002%

Together, before fees−0.448%−$45 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Backpack is 0.060% dearer against dYdX than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.002%. Mind the row above: over the last 7 days funding on this pair cost −0.350%, 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	dYdX ZEC-USD	1,468.8	0	get 0.0000% / 1h	55m 21s	$414K	$106K	5x
Short	Backpack ZEC_USDC_PERP	1,469.7	0.0398	get 0.0050% / 1h	55m 21s	$2.4M	$4.1M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against dYdX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee dYdXbpFee BackpackbpOrdersPrice spread, now +0.058%Rate

Funding earned: $83.67
Price spread: +0.058% → −0.002%: $6.03
Slippage, 4 orders: −$82.3
Fee dYdX: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$12.6
Costs to cover: 1.023%
Break-even: 8.1 days

Slippage from dYdX: live order book, 29 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 dYdX live order book, 29 min ago	38.64 bp	44.8 bp −$45	52.1 bp −$521	102.1 bp −$10.2K	416.9 bp −$208.5K
Sell Backpack live order book, 4 min ago	0.03 bp	7.2 bp −$7	24.1 bp −$241	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	−0.3310%	1h	1,465.3	−0.239%	$34K	$275K	12x	as long as short
Kraken Futures PF_ZECUSD	−0.0404%	1h	1,467.8	−0.067%	$17.8M	$44.8M	25x	as long as short
BloFin ZEC-USDT	−0.0092%	8h	1,467.8	−0.071%	$29.0M	$76.2M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,467.9	−0.061%	$6K	$2K	10x	as long as short
Bybit ZECUSDT	−0.0042%	8h	1,467.6	−0.084%	$271.6M	$680.8M	75x	as long as short
Variational Omni ZEC	−0.0022%	8h	1,467.5	−0.089%	$46.8M	$34.4M	—	as long as short
Ondo Perps ZEC-USD.P	−0.0020%	1h	1,463.8	−0.343%	$398K	$517K	5x	as long as short
dYdX ZEC-USDlong	0.0000%	1h	1,468.8	long leg	$414K	$106K	5x
Kalshi KXZECPERP	0.0000%	8h	1,468.5	−0.020%	$941K	$5.6M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,467.9	−0.067%	$83K	$401K	10x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit ZEC_USDC-PERPETUAL	0.0000%	1h	1,468.8	−0.002%	$598K	$1.3M	25x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,468.5	−0.023%	$5.2M	—	150x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0009% / S +0.0078%	1h	1,468.2	−0.042%	$561K	—	100x	as long as short
Orderly PERP_ZEC_USDC	+0.0015%	8h	1,468.2	−0.045%	$294K	$1.5M	20x	as long as short
01 Exchange ZECUSD	+0.0048%	1h	1,468.6	−0.013%	$8K	$8K	5x	as long as short
OKX ZEC-USDT-SWAP	+0.0053%	8h	1,468.3	−0.040%	$176.2M	$1.37B	50x	as long as short
Gate ZEC_USDT	+0.0059%	8h	1,468.1	−0.049%	$50.1M	$183.2M	75x	as long as short
Katana Perps ZEC-USD	+0.0096%	8h	1,468.2	−0.042%	$14K	$871K	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,468.5	−0.023%	$173K	$2.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,467.5	−0.093%	$60K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,468.3	−0.034%	$2.5M	$7.1M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,469.3	+0.032%	$762.1M	$495.9M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,468.6	−0.017%	$15.4M	$33.8M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,468.1	−0.050%	$1.7M	$3.1M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,467.9	−0.067%	$672.0M	$2.54B	75x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,460.8	−0.548%	$899K	$25K	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,467.6	−0.087%	$222.5M	$849.0M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,468.4	−0.028%	$103.7M	$57.1M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,468.1	−0.051%	$162.5M	$311.2M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,467.7	−0.081%	—	$102.6M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,463.9	−0.336%	$510K	$9.4M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,468.1	−0.047%	$3.0M	$492K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,468.2	−0.042%	$431K	$817K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,468.2	−0.044%	$110K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,468.6	−0.016%	$345K	$2.0M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,467.8	−0.071%	$128K	$160K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,466.7	−0.148%	$448K	$503K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,470.1	+0.088%	$3K	$1.3M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,467.8	−0.072%	$223K	$4.7M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,468.4	−0.028%	$2.4M	$24.5M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,467.6	−0.087%	$3.8M	$5.4M	50x	as long as short
Phoenix ZEC	+0.0103%	1h	1,464.5	−0.298%	$4.6M	$1.6M	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,468.3	−0.036%	$3.3M	$7.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,468.3	−0.039%	$37K	$362K	20x	as long as short
Lighter ZEC	+0.0128%	1h	1,468.9	+0.004%	$19.0M	$52.3M	20x	as long as short
RISEx ZEC/USDC	+0.0190%	1h	1,468.6	−0.018%	$846K	$1.8M	10x	as long as short
Backpack ZEC_USDC_PERPshort	+0.0398%	1h	1,469.7	+0.058%	$2.4M	$4.1M	15x
Coinbase International ZEC-PERP-INTX	+0.0424%	1h	1,471.1	+0.152%	$3.7M	$11.7M	50x	as long as short
Arcus ZEC-USD	+0.0444%	1h	1,468.7	−0.012%	$729K	$8.1M	10x	as long as short
Lighter RH ZEC	+0.0504%	1h	1,469.6	+0.049%	$2.0M	$8.2M	10x	as long as short
Aftermath Perps ZECUSD	+0.0518%	1h	1,465.7	−0.212%	$41K	$34K	10x	as long as short