ZEC

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0093%/8h= +10.2% APRnext payment +$0.12 per $10,000 · paid last 24h +0.043%

Price spread now: Backpack against gTrade (Gains Network)+0.091%7-day average +0.397% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$312as in the Price arb table

costs, in and out, $10k−$2812.813% of the position

Long on gTrade (Gains Network)Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.144%+$14 on $10k

Price spread, last 7 days−0.588%−$59 · spread now +0.091%, 7d avg +0.397%

Together, before fees−0.445%−$44 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.305% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread +0.091% now, against its 7-day average of +0.397%). If the spread goes back, that is −$31 on $10k: about 11 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) ZEC/USD	1,455.9	L +0.0007% / S −0.0006%	pay 0.0001% / 1h	29m 43s	$5.2M	—	150x
Short	Backpack ZEC_USDC_PERP	1,457.2	0.0100	get 0.0013% / 1h	29m 43s	$2.4M	$3.9M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BackpackbpOrdersPrice spread, now +0.091%Rate

Funding earned: $19.56
Price spread: +0.091% → +0.397%: −$30.55
Slippage, 4 orders: −$261.26
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$292.25
Costs to cover: 2.813%
Break-even: 111.6 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 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

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy gTrade (Gains Network) virtual book (oracle venue), 4 min ago	130.03 bp	135.0 bp −$135	425.9 bp −$4,259	4809.1 bp −$480.9K	doesn't fit
Sell Backpack live order book, 4 min ago	0.03 bp	5.7 bp −$6	14.0 bp −$140	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	−0.3166%	1h	1,455.5	−0.025%	$34K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,456.3	+0.024%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0067%	8h	1,455.9	−0.001%	$29.2M	$70.8M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,455.8	−0.008%	$410K	$38K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,456.4	+0.036%	$1.5M	$4.5M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,456	+0.005%	$83K	$240K	10x	as long as short
gTrade (Gains Network) ZEC/USDlong	L +0.0007% / S −0.0006%	1h	1,455.9	long leg	$5.2M	—	150x
Orderly PERP_ZEC_USDC	+0.0061%	8h	1,456.2	+0.019%	$291K	$956K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0067% / S −0.0018%	1h	1,455.8	−0.010%	$409K	—	100x	as long as short
01 Exchange ZECUSD	+0.0080%	1h	1,456.3	+0.026%	$8K	$7K	5x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex ZECUSDT	+0.0096%	1h	1,455.9	−0.002%	$174K	$1.7M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,455.7	−0.014%	$11K	$859K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,456.3	+0.025%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,456	+0.009%	$2.5M	$6.3M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,458.2	+0.158%	$757.9M	$432.6M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,457.2	+0.088%	$14.5M	$27.5M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,456.1	+0.013%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,457.5	+0.107%	$669.0M	$2.21B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,456.8	+0.064%	$262.7M	$600.9M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,457.2	+0.091%	$178.0M	$1.22B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,455	−0.062%	$395K	$441K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,454	−0.133%	$877K	$29K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,457.5	+0.109%	$50.2M	$173.7M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,457.4	+0.104%	$217.1M	$771.3M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,457.1	+0.083%	$102.2M	$53.9M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,457.2	+0.087%	$165.6M	$271.1M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,456.6	+0.045%	—	$6.7M	—	as long as short
Backpack ZEC_USDC_PERPshort	+0.0100%	1h	1,457.2	+0.091%	$2.4M	$3.9M	15x
Variational Omni ZEC	+0.0100%	8h	1,455	−0.061%	$47.6M	$32.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,454.6	−0.088%	$566K	$8.6M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,454.8	−0.073%	$3.0M	$437K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,454.8	−0.073%	$405K	$926K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,456.1	+0.016%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,455.6	−0.021%	$366K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,455.9	−0.002%	$160K	$184K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,455.2	−0.049%	$444K	$521K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,457.9	+0.136%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,456.3	+0.030%	$233K	$3.4M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,454.9	−0.071%	$2.7M	$18.3M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,456.1	+0.014%	$3.8M	$5.1M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,457.4	+0.102%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,456.1	+0.012%	$47K	$151K	20x	as long as short
Phoenix ZEC	+0.0123%	1h	1,455.9	+0.001%	$4.6M	$1.3M	10x	as long as short
Kraken Futures PF_ZECUSD	+0.0277%	1h	1,456.2	+0.022%	$18.0M	$44.9M	25x	as long as short
Lighter ZEC	+0.0328%	1h	1,458	+0.146%	$19.2M	$45.9M	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0378%	1h	1,456.9	+0.072%	$609K	$1.3M	25x	as long as short
RISEx ZEC/USDC	+0.0412%	1h	1,456	+0.007%	$922K	$1.1M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0448%	1h	1,457.8	+0.129%	$3.8M	$9.0M	50x	as long as short
Lighter RH ZEC	+0.0480%	1h	1,458	+0.141%	$2.0M	$6.9M	10x	as long as short
Arcus ZEC-USD	+0.0626%	1h	1,457.2	+0.092%	$700K	$8.3M	10x	as long as short
Aftermath Perps ZECUSD	+0.0676%	1h	1,454.9	−0.070%	$45K	$49K	10x	as long as short