Funding arb · Price arb / Crypto

ZEC

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LONGHyperliquid▾Hyperliquid +0.0510%

⇄⇅

SHORTInjective▾

Backtest 30d

☆

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	HyperliquidZEC	1,314.2	+0.0510	pay 0.0064% / 1h	4m 48s	$680.5M	$729.8M	10x	Long Hyperliquid4% off
SHORT	InjectiveNO DATA 33 hZEC/USDC PERP	1,314.7	+0.0072	get 0.0009% / 1h	4m 48s	$57K	$72K	10x	Short Injective

Price gap+0.042%118017s

Funding gap−0.0438% /8h

The gap pays +$4 on $10k if it goes back to zero (no 7-day history yet), but funding costs $13 a day and eats that in about 8 hours.

The current funding rate is far below what this pair has been paying: over the last 7 days it paid +0.161% in total, about +0.0076%/8h on average.

Price and funding

Entry / ExitPrice spreadPricesFundingLeg ratesP&L

1m5m15m1h

1h · history

24H3D7D14D30D90D

Entry / Exit?

Price spread?

Prices?

Funding?per 8h

ENTRY / EXIT · 7D

Entry now—

Entry average—

Best entry—

Exit now—

Exit average—

Best exit—

Exit free—

PRICE SPREAD · 7D

Now+0.042%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D▾

share of time at each level

Funding on every exchange

/8h

24H3D7D14D30D90D

HyperliquidInjective

ZEC on 50 exchanges

lowest funding first

Before you open

3 ok · 2 to watch

• i
  Note: Order book unknown—

  No order-book sample for Injective: its slippage is not counted.
• i
  Note: Margin at max leverage$1,000 + $1,000

  Hyperliquid 10x, Injective 10x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
• ✓
  OK: Same payment interval1h / 1h

  Both legs pay at the same time.

  Long Hyperliquid · 1h−$15.29

  Short Injective · 1h+$2.16

  now+6h+12h+18h+24h

  Next 24h at the current rates, on $10k a leg: −$13.13Long Hyperliquid: 24 payments, −$15.29; short Injective: 24 payments, +$2.16.
• !
  Watch: Prices read 33 h apart+0.042% vs —

  Part of this gap may be the market moving.
• !
  Watch: Short leg is thinner$57K vs $680.5M OI

  Injective sets your exit cost. Check its book before closing.
• ✓
  OK: Points on a legHyperliquid Season 2

  Volume here counts toward the points program.
• ✓
  OK: No KYC on either legHyperliquid No · Injective No

  Both exchanges let you trade without ID.

Profit calculator

both legs, in and out

Position, each leg

$10k$100k$1M

Hold for

1 day7 days30 days

Orders

takermaker

Price spread

to 7d avgclosesnot counted

Funding rate

range avgcurrent

Funding earned+0.0076%/8h × 21 periods+$16.06

Price spreadprices read too far apart to compare—

Slippage, 4 ordersno data for Injective—

Fee Hyperliquid bp × 2 orders−$9.00

Fee Injective bp × 2 orders−$0.02

Net, fees only · 7 days · $10k+$7.04

price spread not counted: prices read too far apart

Costs to cover0.090%Break-even3.9 days

Slippage: Hyperliquid: live order book, 12 min ago; Injective: no order-book sample

Cost to enter

taker + slippage from mid, one side

Leg½ spr$10k$100k$1M$5M

BUY · LONGHyperliquid0.388.2 bp−$812.9 bp−$12924.3 bp−$2,43239.4 bp−$19.7K

SELL · SHORTInjective—————

Closing costs about the same again.
Injective: no data.

Alert

FundingSpread

Tell me when it goes above%/8hNot more often than everymin

Create alert

FundingPrice spread

I'm in

ZEC news

posts that mention ZEC, from every exchange

Search all news →

11-06 00:13	GMX	Other	One month in, the GMX Dollar Vault backs 7 markets: BTC, ETH, NEAR, ZEC, HYPE, XRP and SOL. One $USDG deposit, spread across all of them, earning from the volume, withdrawable any time. Full launch boost runs until 30 Nov. Here's how it works: @GMX_IO on X ↗
11-02 06:21	BingX	Other	#BingXBuzz 🚨 💵 $BTC sits 38% below its $126K peak, December Fed hike odds near 70% 🟢 $ZEC leads the majors at $1,272, holding a top-10 seat by market cap 🇧🇷 Brazil's license deadline closes with only 40 crypto firms applying, a broad exit underway 🥇 Gold lingers near $3,895, a one-year low, December Fed hike bets firming @BingXOfficial on X ↗
11-01 12:36	Binance	Other	Latest Withdrawal Update Withdrawals have now been re-enabled for the following networks and assets: New: ✅ ZEC: ZEC ✅ TON: USDT, GRAM ✅ SUI: SUI Already Enabled: ✅ BTC: BTC ✅ ETH: ETH, USDT, USDC ✅ BSC: BNB, USDT, USDC ✅ XRP: XRP ✅ Base: ETH, USDC ✅ DOGE: DOGE ✅ OP (Optimism): ETH, USDT, USDC ✅ ARBITRUM: ARB, ETH, USDT, USDC ✅ TRX: TRX, USDT ✅ SOL: SOL, USDT, USDC ✅ MATIC (Polygon): POL, USDT, USDC ✅ AVAXC: AVAX, USDT, USDC We will continue to restore additional assets and networks in phases as security checks are completed. Further updates will be shared through official Binance channels. @binance on X ↗
10-31 04:00	SunX	Other	SunX 101 Lesson #91 | What Is Zcash ETF? The Zcash ETF, issued by Grayscale on NYSE Arca, tracks spot Zcash (ZEC) exposure, giving traditional investors a compliant and secure way to access the privacy coin. $ZCSH is a tokenized asset that tracks the Zcash ETF price 1:1 on-chain. Now you can trade it on SunX with $ZCSH/USDT, 24/7. 🔗 @SunX_DEX on X ↗
10-30 11:41	SoDEX	Points	🎉 Happy Points Day! Layer1 Season Week 8 points are LIVE! 🚀 SoDEX Open Interest Hits $312M! Thank you to our growing trading community! 🧡 ⚡ Week 9 Bonus: Trade ZEC-USD, NEAR-USD, BRENTOIL-USD,KORU-USD,MCD-USD,NKE-USD,CRWV-USD,CRWD-USD perps to earn 1.2× SoPoints on trading volume! 🎁 Check your points 👉 @sodex_official on X ↗
10-30 08:41	Phemex	Other	$HYPE just flipped $ZEC by market cap. The gap is under $1B. Does the flip hold through the weekend? 🟢 yes / 🔴 flips back @Phemex_official on X ↗