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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 05:00 UTC+0.0186%/8h= +20.3% APRnext payment +$0.23 per $10,000 · paid last 24h −0.064%
Price spread now: Kraken Futures against Hyperliquid−0.121%7-day average +0.007% · you buy dearer than you sell
Net, funding: paid 7d − costs−$77as in the Funding arb table
Net, price: spread back to 7d avg − costs−$41as in the Price arb table
costs, in and out, $10k−$280.283% of the position
Long on HyperliquidShort on Kraken Futures
What this pair did over the last
the charts below follow
Funding, last 7 days−0.492%−$49 on $10k
Price spread, last 4 days (all we have)+0.561%+$56 · spread now −0.121%, 7d avg +0.007%
Together, before fees+0.069%+ Points / potential airdropHyperliquid: Season 2 · farm board+$7 on $10k · with fees, hour by hour
Funding pays, the price is against you. Kraken Futures is 0.128% cheaper against Hyperliquid than usual: you would sell low and buy high (spread −0.121% now, against its 7-day average of +0.007%). If the spread goes back, that is −$13 on $10k: about 2.3 days of funding at the current rate (+$6 a day). Mind the row above: over the last 7 days funding on this pair cost −0.492%, so the current rate has only just turned in your favour.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongHyperliquid ZEC1,463.30.0146pay 0.0018% / 1h13m 01s$762.5M$424.8M10x
ShortKraken Futures PF_ZECUSD1,461.60.0332get 0.0041% / 1h13m 01s$18.1M$45.1M25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kraken Futures against Hyperliquid. 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
$38.98
Price spread: −0.121% → +0.007%
−$12.84
Slippage, 4 orders
−$9.33
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Fee Kraken Futures: 5 bp × 2 orders
−$10
Net
−$2.19
Costs to cover
0.283%
Break-even
7.4 days
Slippage from Hyperliquid: live order book, 11 min ago; Kraken Futures: live order book, 1 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 Hyperliquid live order book, 11 min ago0.34 bp4.8 bp −$57.1 bp −$71doesn't fitdoesn't fit
Sell Kraken Futures live order book, 1 min ago1.91 bp10.9 bp −$1116.3 bp −$16323.2 bp −$2,32182.7 bp −$41.4K

ZEC on 51 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−0.3042%1h1,461.1−0.156%$34K$272K12xas long as short
Hotstuff ZEC-PERP−0.0080%1h1,459.9−0.235%$6K$1K10xas long as short
BloFin ZEC-USDT−0.0071%8h1,461.9−0.102%$29.6M$70.7M75xas long as short
dYdX ZEC-USD0.0000%1h1,460.9−0.163%$406K$41K5xas long as short
Perpl ZEC0.0000%43m1,461.5−0.126%$84K$239K10xas long as short
gTrade (Gains Network) ZEC/USDL +0.0007% / S −0.0006%1h1,461.8−0.102%$5.2M—150xas long as short
Orderly PERP_ZEC_USDC+0.0063%8h1,461.6−0.117%$292K$916K20xas long as short
Ondo Perps ZEC-USD.P+0.0082%1h1,460.4−0.201%$396K$435K5xas long as short
GMX ZEC/USD [WBTC.b-USDC]L +0.0087% / S −0.0039%1h1,461.8−0.106%$436K—100xas long as short
Popdex ZECUSDT+0.0096%1h1,461.7−0.113%$174K$1.6M50xas long as short
Show all 51 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Katana Perps ZEC-USD+0.0100%8h1,462.4−0.067%$14K$804K10xas long as short
Paradex ZEC-USD-PERP+0.0100%8h1,462−0.094%$60K$43K10xas long as short
Nado ZEC-PERP+0.0100%1h1,462.1−0.085%$2.8M$6.5M10xas long as short
Aster ZECUSDT+0.0100%8h1,463.30.000%$14.6M$27.8M75xas long as short
Pacifica ZEC+0.0100%1h1,462.2−0.076%$1.7M$2.4M10xas long as short
Binance ZECUSDT+0.0100%8h1,462.9−0.029%$673.5M$2.17B75xas long as short
Bybit ZECUSDT+0.0100%8h1,462.7−0.044%$261.9M$589.3M75xas long as short
OKX ZEC-USDT-SWAP+0.0100%8h1,463.3−0.003%$179.5M$1.21B50xas long as short
Bulk ZEC-USD+0.0100%1h1,457.9−0.372%$881K$17K10xas long as short
Gate ZEC_USDT+0.0100%8h1,461.8−0.104%$52.3M$172.6M75xas long as short
MEXC ZEC_USDT+0.0100%8h1,463−0.027%$219.6M$772.8M150xas long as short
KuCoin ZECUSDTM+0.0100%8h1,463.2−0.009%$103.2M$53.0M75xas long as short
Bitget ZECUSDT+0.0100%8h1,463.7+0.024%$166.1M$268.4M75xas long as short
BingX ZEC-USDT+0.0100%8h1,463−0.022%—$106.6M—as long as short
Variational Omni ZEC+0.0100%8h1,458.8−0.312%$47.8M$32.5M—as long as short
edgeX ZECUSDC+0.0100%4h1,460.1−0.222%$568K$8.5M20xas long as short
GRVT ZEC_USDT_Perp+0.0100%8h1,461.4−0.133%$3.0M$464K10xas long as short
ApeX Omni ZECUSDT+0.0100%1h1,458.6−0.321%$403K$944K50xas long as short
StandX ZEC-USD+0.0100%1h1,462.1−0.086%$49K$4.7M30xas long as short
Polymarket Perps ZEC-USD+0.0100%1h1,461.8−0.105%$356K$1.8M10xas long as short
Bullet ZEC-USD+0.0100%1h1,461.7−0.115%$161K$186K20xas long as short
Derive ZEC-PERP+0.0100%1h1,460.7−0.181%$446K$504K6.7xas long as short
SunX ZEC-USDT+0.0100%8h1,464.2+0.060%$3K$1.1M20xas long as short
SoDEX ZEC-USD+0.0100%1h1,461.7−0.113%$234K$3.2M10xas long as short
HTX ZEC-USDT+0.0100%8h1,461.5−0.129%$2.7M$18.3M75xas long as short
Phemex ZECUSDT+0.0100%8h1,461.8−0.109%$3.8M$4.9M50xas long as short
Extended ZEC-USD+0.0104%1h1,463.3−0.002%$2.8M$7.7M10xas long as short
Aevo ZEC-PERP+0.0104%1h1,461.4−0.129%$47K$151K20xas long as short
Phoenix ZEC+0.0116%1h1,462.7−0.044%$4.7M$1.3M10xas long as short
Lighter RH ZEC+0.0120%1h1,463.4+0.007%$2.1M$7.0M10xas long as short
01 Exchange ZECUSD+0.0120%1h1,461.8−0.104%$8K$7K5xas long as short
Hyperliquid ZEClong+0.0146%1h1,463.3long leg$762.5M$424.8M10x
Lighter ZEC+0.0168%1h1,463.4+0.007%$19.4M$45.3M20xas long as short
Deribit ZEC_USDC-PERPETUAL+0.0183%1h1,462.7−0.047%$616K$1.3M25xas long as short
Kalshi KXZECPERP+0.0187%8h1,462.4−0.061%$1.5M$4.4M2.2xas long as short
RISEx ZEC/USDC+0.0216%1h1,462−0.094%$924K$1.1M10xas long as short
Backpack ZEC_USDC_PERP+0.0284%1h1,462.4−0.061%$2.4M$3.8M15xas long as short
Kraken Futures PF_ZECUSDshort+0.0332%1h1,461.6−0.121%$18.1M$45.1M25x
Arcus ZEC-USD+0.0344%1h1,463.1−0.019%$685K$8.1M10xas long as short
Coinbase International ZEC-PERP-INTX+0.0464%1h1,465.2+0.124%$3.8M$9.1M50xas long as short
Aftermath Perps ZECUSD+0.0679%1h1,460.9−0.168%$45K$49K10xas long as short