Funding you earn now, next payment 05:00 UTC+0.0396%/8h= +43.4% APRnext payment +$0.50 per $10,000 · paid last 24h +0.069%
Price spread now: Coinbase International against Hyperliquid−0.287%49s7-day average +0.102% · you buy dearer than you sell
Net, funding: paid 7d − costs−$50as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$350.348% of the position
Funding, last 7 days−0.150%−$15 on $10k
+Price spread, last 4 days (all we have)+0.932%+$93 · spread now −0.287%, 7d avg +0.102%
=Together, before fees+0.782%+ Points / potential airdropHyperliquid: Season 2 · farm board+$78 on $10k · with fees, hour by hour
Funding pays, the price is against you. Coinbase International is 0.389% cheaper against Hyperliquid than usual: you would sell low and buy high (spread −0.287% now, against its 7-day average of +0.102%). If the spread goes back, that is −$39 on $10k: about 3.3 days of funding at the current rate (+$12 a day). Mind the row above: over the last 7 days funding on this pair cost −0.150%, so the current rate has only just turned in your favour. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.150% in total (about -7.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.50 per $10,000. 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 | Hyperliquid ZEC | 1,473.8 | 0.0100 | pay 0.0013% / 1h | 32m 27s | $767.4M | $418.9M | 10x |
| Short | Coinbase International ZEC-PERP-INTX | 1,469.6 | 0.0496 | get 0.0062% / 1h | 32m 27s | $3.7M | $9.2M | 50x |
Hyperliquid ZEC
Coinbase International ZEC-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Hyperliquid. 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
- $83.16
- Price spread: −0.287% → +0.102%
- −$38.89
- Slippage, 4 orders
- −$15.75
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- $9.51
- Costs to cover
- 0.348%
- Break-even
- 6.2 days
Slippage from Hyperliquid: live order book, 12 min ago; Coinbase International: live order book, 2 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 Hyperliquid live order book, 12 min ago | 0.34 bp | 4.8 bp −$5 | 7.4 bp −$74 | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 2 min ago | 2.24 bp | 13.7 bp −$14 | 17.8 bp −$178 | 50.1 bp −$5,013 | 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 | −0.3243% | 1h | 1,450 | −1.618% | $33K | $272K | 12x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,470.4 | −0.229% | $6K | $1K | 10x | as long as short |
| BloFin ZEC-USDT | −0.0079% | 8h | 1,470.5 | −0.223% | $29.8M | $71.1M | 75x | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,471.9 | −0.132% | $409K | $37K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,470.7 | −0.210% | $1.5M | $4.4M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,472.1 | −0.113% | $84K | $239K | 10x | as long as short |
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,472.6 | −0.082% | $5.2M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0062% | 8h | 1,472.6 | −0.081% | $294K | $896K | 20x | as long as short |
| 01 Exchange ZECUSD | +0.0064% | 1h | 1,472.8 | −0.067% | $8K | $7K | 5x | as long as short |
| Bybit ZECUSDT | +0.0089% | 8h | 1,472.2 | −0.110% | $261.7M | $588.3M | 75x | as long as short |
Injective ZEC/USDC PERP
Hotstuff ZEC-PERP
BloFin ZEC-USDT
dYdX ZEC-USD
Kalshi KXZECPERP
Perpl ZEC
gTrade (Gains Network) ZEC/USD
Orderly PERP_ZEC_USDC
01 Exchange ZECUSD
Bybit ZECUSDTShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix ZEC | +0.0092% | 1h | 1,466.5 | −0.496% | $4.7M | $1.3M | 10x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,472.7 | −0.077% | $174K | $1.6M | 50x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0097% / S −0.0051% | 1h | 1,472.4 | −0.092% | $439K | — | 100x | as long as short |
| Katana Perps ZEC-USD | +0.0100% | 8h | 1,472.1 | −0.117% | $13K | $812K | 10x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,472.4 | −0.092% | $61K | $43K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,473.1 | −0.044% | $2.9M | $6.3M | 10x | as long as short |
| Hyperliquid ZEClong | +0.0100% | 1h | 1,473.8 | long leg | $767.4M | $418.9M | 10x | |
| Aster ZECUSDT | +0.0100% | 8h | 1,472.4 | −0.094% | $14.4M | $28.0M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,472.4 | −0.096% | $1.7M | $2.4M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,472.7 | −0.074% | $679.6M | $2.16B | 75x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0100% | 8h | 1,472.3 | −0.103% | $178.8M | $1.21B | 50x | as long as short |
| Ondo Perps ZEC-USD.P | +0.0100% | 1h | 1,466.9 | −0.468% | $399K | $430K | 5x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,472.4 | −0.094% | $889K | $15K | 10x | as long as short |
| Gate ZEC_USDT | +0.0100% | 8h | 1,472.2 | −0.109% | $53.4M | $171.1M | 75x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,472.5 | −0.085% | $223.3M | $762.1M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,472.9 | −0.062% | $103.5M | $52.6M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,472.7 | −0.077% | $166.8M | $267.5M | 75x | as long as short |
| BingX ZEC-USDC | +0.0100% | 8h | 1,471.9 | −0.127% | — | $6.7M | — | as long as short |
| Variational Omni ZEC | +0.0100% | 8h | 1,470.5 | −0.221% | $48.2M | $32.4M | — | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,469.9 | −0.261% | $555K | $8.5M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,469.8 | −0.274% | $3.0M | $467K | 10x | as long as short |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,470 | −0.259% | $406K | $926K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,469.7 | −0.278% | $49K | $4.6M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,472.6 | −0.081% | $361K | $1.7M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,472.3 | −0.100% | $162K | $186K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,469.1 | −0.318% | $448K | $506K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,472.5 | −0.091% | $3K | $1.1M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,470.2 | −0.242% | $235K | $3.2M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,468.6 | −0.354% | $2.7M | $18.3M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,470.9 | −0.197% | $3.9M | $4.8M | 50x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,472.3 | −0.099% | $2.8M | $7.8M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,472.5 | −0.089% | $46K | $152K | 20x | as long as short |
| Deribit ZEC_USDC-PERPETUAL | +0.0126% | 1h | 1,471.1 | −0.180% | $619K | $1.3M | 25x | as long as short |
| Lighter ZEC | +0.0136% | 1h | 1,473.3 | −0.033% | $19.5M | $44.0M | 20x | as long as short |
| Lighter RH ZEC | +0.0136% | 1h | 1,473.3 | −0.036% | $2.1M | $7.1M | 10x | as long as short |
| Kraken Futures PF_ZECUSD | +0.0146% | 1h | 1,470.4 | −0.232% | $18.0M | $45.6M | 25x | as long as short |
| RISEx ZEC/USDC | +0.0154% | 1h | 1,472.8 | −0.068% | $930K | $1.1M | 10x | as long as short |
| Backpack ZEC_USDC_PERP | +0.0343% | 1h | 1,471.9 | −0.127% | $2.4M | $3.7M | 15x | as long as short |
| Coinbase International ZEC-PERP-INTXshort | +0.0496% | 1h | 1,469.6 | −0.287% | $3.7M | $9.2M | 50x | |
| Arcus ZEC-USD | +0.0508% | 1h | 1,473.7 | −0.009% | $665K | $8.1M | 10x | as long as short |
| Aftermath Perps ZECUSD | +0.0689% | 1h | 1,469.3 | −0.304% | $45K | $49K | 10x | as long as short |
Phoenix ZEC
Popdex ZECUSDT
GMX ZEC/USD [WBTC.b-USDC]
Katana Perps ZEC-USD
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Aster ZECUSDT
Pacifica ZEC
Binance ZECUSDT
OKX ZEC-USDT-SWAP
Ondo Perps ZEC-USD.P
Bulk ZEC-USD
Gate ZEC_USDT
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDC
Variational Omni ZEC
edgeX ZECUSDC
GRVT ZEC_USDT_Perp
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
Extended ZEC-USD
Aevo ZEC-PERP
Deribit ZEC_USDC-PERPETUAL
Lighter ZEC
Lighter RH ZEC
Kraken Futures PF_ZECUSD
RISEx ZEC/USDC
Backpack ZEC_USDC_PERP
Arcus ZEC-USD
Aftermath Perps ZECUSD