Funding you earn now, next payment 01:00 UTC+0.0494%/8h= +54.1% APRpaid last 24h +0.028%
Price spread now: Backpack against GRVT+0.091%7-day average +0.417% · you sell dearer than you buy
Net, funding: paid 7d − costs−$57as in the Funding arb table
Net, price: spread back to 7d avg − costs−$57as in the Price arb table
costs, in and out, $10k−$240.242% of the position
Funding, last 7 days−0.330%−$33 on $10k
+Price spread, last 7 days−0.645%−$65 · spread now +0.091%, 7d avg +0.417%
=Together, before fees−0.976%+ Points / potential airdropGRVT: Active · farm board−$98 on $10k · with fees, hour by hour
Funding pays, the price is against you. Backpack is 0.326% cheaper against GRVT than usual: you would sell low and buy high (spread +0.091% now, against its 7-day average of +0.417%). If the spread goes back, that is −$33 on $10k: about 2.2 days of funding at the current rate (+$15 a day). Mind the row above: over the last 7 days funding on this pair cost −0.330%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.330% in total (about -17.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GRVT ZEC_USDT_Perp | 1,474.9 | 0.0100 | pay 0.0100% / 8h | 7h 44m | $3.0M | $454K | 10x |
| Short | Backpack ZEC_USDC_PERP | 1,476.2 | 0.0594 | get 0.0074% / 1h | 44m 26s | $2.5M | $3.8M | 15x |
GRVT ZEC_USDT_Perp
Backpack ZEC_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against GRVT. 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
- $103.73
- Price spread: +0.091% → +0.417%
- −$32.62
- Slippage, 4 orders
- −$5.21
- Fee GRVT: 4.5 bp × 2 orders
- −$9
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $46.9
- Costs to cover
- 0.242%
- Break-even
- 3.8 days
Slippage from GRVT: live order book, 4 min ago; Backpack: live order book, 5 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 GRVT live order book, 4 min ago | 1.56 bp | 6.1 bp −$6 | 6.7 bp −$67 | 9920.2 bp −$992.0K | 89534.3 bp −$44.77M |
| Sell Backpack live order book, 5 min ago | 0.03 bp | 5.9 bp −$6 | 19.8 bp −$198 | 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 | −0.3321% | 1h | 1,475.3 | +0.031% | $34K | $275K | 12x | as long as short |
| Kraken Futures PF_ZECUSD | −0.0341% | 1h | 1,475.7 | +0.057% | $18.0M | $43.1M | 25x | as long as short |
| Ondo Perps ZEC-USD.P | −0.0147% | 1h | 1,472.8 | −0.141% | $400K | $517K | 5x | as long as short |
| BloFin ZEC-USDT | −0.0103% | 8h | 1,475.7 | +0.058% | $29.7M | $74.2M | 75x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,473.8 | −0.077% | $6K | $2K | 10x | as long as short |
| Variational Omni ZEC | −0.0059% | 8h | 1,473.5 | −0.094% | $47.7M | $34.4M | — | as long as short |
| Bybit ZECUSDT | −0.0041% | 8h | 1,472.1 | −0.191% | $275.0M | $642.4M | 75x | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,473.3 | −0.109% | $415K | $104K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,476.1 | +0.083% | $961K | $5.4M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,472.6 | −0.158% | $84K | $405K | 10x | as long as short |
Injective ZEC/USDC PERP
Kraken Futures PF_ZECUSD
Ondo Perps ZEC-USD.P
BloFin ZEC-USDT
Hotstuff ZEC-PERP
Variational Omni ZEC
Bybit ZECUSDT
dYdX ZEC-USD
Kalshi KXZECPERP
Perpl ZECShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,472.7 | −0.147% | $5.2M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0015% | 8h | 1,474.9 | +0.004% | $294K | $1.4M | 20x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0040% | 8h | 1,472.5 | −0.165% | $181.9M | $1.32B | 50x | as long as short |
| Phoenix ZEC | +0.0054% | 1h | 1,474.9 | 0.000% | $4.7M | $1.6M | 10x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0055% / S −0.0010% | 1h | 1,472.6 | −0.152% | $378K | — | 100x | as long as short |
| 01 Exchange ZECUSD | +0.0056% | 1h | 1,473.3 | −0.110% | $8K | $8K | 5x | as long as short |
| Lighter ZEC | +0.0096% | 1h | 1,474.1 | −0.050% | $19.2M | $50.3M | 20x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,472.4 | −0.170% | $174K | $1.9M | 50x | as long as short |
| Katana Perps ZEC-USD | +0.0100% | 8h | 1,472.9 | −0.134% | $13K | $835K | 10x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,472.5 | −0.159% | $61K | $39K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,473 | −0.124% | $2.6M | $6.7M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,473.9 | −0.066% | $764.8M | $459.9M | 10x | as long as short |
| Aster ZECUSDT | +0.0100% | 8h | 1,472.4 | −0.165% | $14.9M | $32.1M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,472.8 | −0.139% | $1.7M | $2.9M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,472.4 | −0.172% | $684.2M | $2.41B | 75x | as long as short |
| Arcus ZEC-USD | +0.0100% | 1h | 1,474.1 | −0.055% | $692K | $8.5M | 10x | as long as short |
| Gate ZEC_USDT | +0.0100% | 8h | 1,472.5 | −0.161% | $51.5M | $178.4M | 75x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,472.6 | −0.153% | $231.2M | $822.5M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,472.7 | −0.147% | $105.0M | $55.9M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,472.6 | −0.155% | $163.7M | $296.4M | 75x | as long as short |
| BingX ZEC-USDC | +0.0100% | 8h | 1,472.4 | −0.167% | — | $6.7M | — | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,474.1 | −0.054% | $574K | $9.2M | 20x | as long as short |
| GRVT ZEC_USDT_Perplong | +0.0100% | 8h | 1,474.9 | long leg | $3.0M | $454K | 10x | |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,473.9 | −0.066% | $431K | $859K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,474.8 | −0.009% | $110K | $4.8M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,472.2 | −0.182% | $333K | $1.8M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,472.5 | −0.162% | $128K | $159K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,473.3 | −0.108% | $459K | $509K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,477.3 | +0.164% | $3K | $1.2M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,475.6 | +0.051% | $243K | $4.2M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,474.6 | −0.020% | $2.5M | $21.8M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,476 | +0.074% | $3.9M | $5.4M | 50x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,474.3 | −0.037% | $897K | $28K | 10x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,472.9 | −0.134% | $3.2M | $7.0M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,475.5 | +0.045% | $82K | $190K | 20x | as long as short |
| RISEx ZEC/USDC | +0.0228% | 1h | 1,473.3 | −0.107% | $842K | $1.1M | 10x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0448% | 1h | 1,477.5 | +0.178% | $3.8M | $10.5M | 50x | as long as short |
| Deribit ZEC_USDC-PERPETUAL | +0.0477% | 1h | 1,477 | +0.141% | $616K | $1.3M | 25x | as long as short |
| Backpack ZEC_USDC_PERPshort | +0.0594% | 1h | 1,476.2 | +0.091% | $2.5M | $3.8M | 15x | |
| Lighter RH ZEC | +0.0744% | 1h | 1,474.8 | −0.005% | $2.0M | $8.0M | 10x | as long as short |
| Aftermath Perps ZECUSD | +0.0779% | 1h | 1,474.5 | −0.024% | $44K | $48K | 10x | as long as short |
gTrade (Gains Network) ZEC/USD
Orderly PERP_ZEC_USDC
OKX ZEC-USDT-SWAP
Phoenix ZEC
GMX ZEC/USD [WBTC.b-USDC]
01 Exchange ZECUSD
Lighter ZEC
Popdex ZECUSDT
Katana Perps ZEC-USD
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Hyperliquid ZEC
Aster ZECUSDT
Pacifica ZEC
Binance ZECUSDT
Arcus ZEC-USD
Gate ZEC_USDT
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDC
edgeX ZECUSDC
ApeX Omni ZECUSDT
StandX ZEC-USD
Polymarket Perps ZEC-USD
Bullet ZEC-USD
Derive ZEC-PERP
SunX ZEC-USDT
SoDEX ZEC-USD
HTX ZEC-USDT
Phemex ZECUSDT
Bulk ZEC-USD
Extended ZEC-USD
Aevo ZEC-PERP
RISEx ZEC/USDC
Coinbase International ZEC-PERP-INTX
Deribit ZEC_USDC-PERPETUAL
Lighter RH ZEC
Aftermath Perps ZECUSD