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Funding arb · Price arb /

ZEC

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 02:00 UTC+0.0340%/8h= +37.2% APRnext payment +$0.43 per $10,000 · paid last 24h +0.003%
Price spread now: Backpack against Extended+0.026%7-day average +0.454% · you sell dearer than you buy
Net, funding: paid 7d − costs−$51as in the Funding arb table
Net, price: spread back to 7d avg − costs−$66as in the Price arb table
costs, in and out, $10k−$230.233% of the position
Long on ExtendedShort on Backpack
What this pair did over the last
the charts below follow
Funding, last 7 days−0.275%−$27 on $10k
Price spread, last 7 days−0.249%−$25 · spread now +0.026%, 7d avg +0.454%
Together, before fees−0.524%+ Points / potential airdropExtended: Active · farm board−$52 on $10k · with fees, hour by hour
Funding pays, the price is against you. Backpack is 0.428% cheaper against Extended than usual: you would sell low and buy high (spread +0.026% now, against its 7-day average of +0.454%). If the spread goes back, that is −$43 on $10k: about 4.2 days of funding at the current rate (+$10 a day). Mind the row above: over the last 7 days funding on this pair cost −0.275%, so the current rate has only just turned in your favour.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongExtended ZEC-USD1,470.40.0104pay 0.0013% / 1h10m 00s$3.2M$7.1M10x
ShortBackpack ZEC_USDC_PERP1,470.80.0444get 0.0056% / 1h10m 00s$2.5M$4.0M15x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Backpack against Extended. 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

Funding earned
$71.41
Price spread: +0.026% → +0.454%
−$42.85
Slippage, 4 orders
−$8.32
Fee Extended: 2.5 bp × 2 orders
−$5
Fee Backpack: 5 bp × 2 orders
−$10
Net
$5.24
Costs to cover
0.233%
Break-even
6.5 days
Slippage from Extended: 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
LegHalf-spread$10k$100k$1M$5M
Buy Extended live order book, 4 min ago1.70 bp4.3 bp −$49.3 bp −$93282.8 bp −$28.3Kdoesn't fit
Sell Backpack live order book, 4 min ago0.03 bp6.1 bp −$613.4 bp −$134doesn't fitdoesn't fit

ZEC on 50 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective ZEC/USDC PERP−0.3678%1h1,456−0.977%$34K$274K12xas long as short
Hotstuff ZEC-PERP−0.0080%1h1,470.8+0.027%$6K$1K10xas long as short
Ondo Perps ZEC-USD.P−0.0042%1h1,472+0.109%$399K$514K5xas long as short
Kraken Futures PF_ZECUSD−0.0002%1h1,470.7+0.022%$18.1M$43.8M25xas long as short
dYdX ZEC-USD0.0000%1h1,470.4−0.001%$414K$53K5xas long as short
Kalshi KXZECPERP0.0000%8h1,470.9+0.031%$975K$4.9M2.2xas long as short
Perpl ZEC0.0000%43m1,470.3−0.010%$84K$252K10xas long as short
gTrade (Gains Network) ZEC/USDL +0.0007% / S −0.0006%1h1,469.8−0.042%$5.2M—150xas long as short
Orderly PERP_ZEC_USDC+0.0031%8h1,470.2−0.013%$294K$998K20xas long as short
GMX ZEC/USD [WBTC.b-USDC]L +0.0055% / S −0.0009%1h1,469.7−0.044%$384K—100xas long as short
Show all 50 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
01 Exchange ZECUSD+0.0064%1h1,470−0.028%$8K$8K5xas long as short
Variational Omni ZEC+0.0067%8h1,470.6+0.015%$48.0M$32.8M—as long as short
Phoenix ZEC+0.0070%1h1,471.5+0.074%$4.7M$1.5M10xas long as short
OKX ZEC-USDT-SWAP+0.0094%8h1,470.1−0.018%$181.2M$1.26B50xas long as short
Popdex ZECUSDT+0.0096%1h1,469.6−0.054%$173K$1.8M50xas long as short
Katana Perps ZEC-USD+0.0100%8h1,469.3−0.074%$9K$843K10xas long as short
Paradex ZEC-USD-PERP+0.0100%8h1,470.1−0.023%$61K$40K10xas long as short
Nado ZEC-PERP+0.0100%1h1,470.2−0.016%$2.6M$6.5M10xas long as short
Hyperliquid ZEC+0.0100%1h1,471.7+0.089%$766.6M$443.6M10xas long as short
Aster ZECUSDT+0.0100%8h1,470.1−0.023%$14.8M$30.0M75xas long as short
Pacifica ZEC+0.0100%1h1,470.2−0.011%$1.7M$2.7M10xas long as short
Binance ZECUSDT+0.0100%8h1,470.3−0.003%$680.0M$2.30B75xas long as short
Bybit ZECUSDT+0.0100%8h1,470.2−0.013%$271.6M$613.4M75xas long as short
Bulk ZEC-USD+0.0100%1h1,472.8+0.162%$894K$18K10xas long as short
Gate ZEC_USDT+0.0100%8h1,470.5+0.004%$50.0M$176.5M75xas long as short
MEXC ZEC_USDT+0.0100%8h1,470.5+0.009%$217.2M$802.0M150xas long as short
KuCoin ZECUSDTM+0.0100%8h1,470.1−0.017%$103.3M$56.2M75xas long as short
Bitget ZECUSDT+0.0100%8h1,470.5+0.007%$163.3M$281.2M75xas long as short
BingX ZEC-USDC+0.0100%8h1,469.9−0.034%—$6.7M—as long as short
edgeX ZECUSDC+0.0100%4h1,470.8+0.026%$573K$9.0M20xas long as short
GRVT ZEC_USDT_Perp+0.0100%8h1,470.8+0.027%$3.0M$453K10xas long as short
ApeX Omni ZECUSDT+0.0100%1h1,471.1+0.050%$428K$895K50xas long as short
StandX ZEC-USD+0.0100%1h1,471+0.038%$71K$4.7M30xas long as short
Polymarket Perps ZEC-USD+0.0100%1h1,469.5−0.061%$345K$1.8M10xas long as short
Bullet ZEC-USD+0.0100%1h1,469.7−0.048%$128K$160K20xas long as short
Derive ZEC-PERP+0.0100%1h1,468.7−0.113%$457K$511K6.7xas long as short
SunX ZEC-USDT+0.0100%8h1,472+0.106%$3K$1.2M20xas long as short
SoDEX ZEC-USD+0.0100%1h1,470.4+0.003%$242K$3.6M10xas long as short
HTX ZEC-USDT+0.0100%8h1,470.3−0.010%$2.5M$18.5M75xas long as short
Phemex ZECUSDT+0.0100%8h1,471.1+0.047%$3.9M$5.3M50xas long as short
Extended ZEC-USDlong+0.0104%1h1,470.4long leg$3.2M$7.1M10x
Aevo ZEC-PERP+0.0104%1h1,470.1−0.022%$48K$162K20xas long as short
Deribit ZEC_USDC-PERPETUAL+0.0235%1h1,471.3+0.060%$612K$1.3M25xas long as short
Lighter ZEC+0.0240%1h1,472.1+0.115%$19.2M$48.2M20xas long as short
Arcus ZEC-USD+0.0254%1h1,471.7+0.087%$695K$8.6M10xas long as short
Lighter RH ZEC+0.0288%1h1,472.3+0.130%$2.1M$7.1M10xas long as short
RISEx ZEC/USDC+0.0374%1h1,470.3−0.008%$856K$1.0M10xas long as short
Backpack ZEC_USDC_PERPshort+0.0444%1h1,470.8+0.026%$2.5M$4.0M15x
Coinbase International ZEC-PERP-INTX+0.0472%1h1,472+0.108%$3.6M$9.3M50xas long as short
Aftermath Perps ZECUSD+0.0736%1h1,471.7+0.090%$44K$46K10xas long as short