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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 04:00 UTC+0.3266%/8h= +357.6% APRnext payment +$4.08 per $10,000 · paid last 24h +0.612%
Price spread now: Bullet against Injective+0.010%7-day average −0.082% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on InjectiveShort on Bullet
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.584%+$58 on $10k
Price spread, last 4 days (all we have)−1.036%−$104 · spread now +0.010%, 7d avg −0.082%
Together, before fees−0.452%−$45 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$98 a day on $10k at the current rate, and Bullet is 0.092% dearer against Injective than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of −0.082%.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.584% in total (about 63.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$4.08 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongInjective ZEC/USDC PERP1,457.9−0.3166get 0.0396% / 1h1m 11s$34K$272K12x
ShortBullet ZEC-USD1,458.10.0100get 0.0013% / 1h1m 11s$161K$184K20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bullet against Injective. 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
$685.9
Price spread: +0.010% → −0.082%
$9.18
Slippage, 4 orders
no order book: not counted
Fee Injective: 0.01 bp × 2 orders
−$0.02
Fee Bullet: 4 bp × 2 orders
−$8
Net
$687.06
Costs to cover
0.080%
Break-even
from the start
Slippage unknown: Injective: live order book, 58 min ago; Bullet: live order book, 58 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Injective live order book, 58 min ago48.95 bp490972.7 bp −$491.0K4967289.5 bp −$49.67M49442056.0 bp −$4944.21M246386944.0 bp −$123193.47M
Sell Bullet live order book, 58 min ago1.72 bp7.2 bp −$711.9 bp −$119doesn't fitdoesn't fit

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 PERPlong−0.3166%1h1,457.9long leg$34K$272K12x
Hotstuff ZEC-PERP−0.0080%1h1,458.3+0.025%$6K$1K10xas long as short
BloFin ZEC-USDT−0.0070%8h1,459.1+0.080%$29.5M$71.0M75xas long as short
dYdX ZEC-USD0.0000%1h1,458.2+0.018%$411K$37K5xas long as short
Kalshi KXZECPERP0.0000%8h1,458.6+0.046%$1.5M$4.5M2.2xas long as short
Perpl ZEC0.0000%43m1,458.5+0.038%$83K$240K10xas long as short
gTrade (Gains Network) ZEC/USDL +0.0007% / S −0.0006%1h1,457.8−0.012%$5.2M—150xas long as short
Orderly PERP_ZEC_USDC+0.0063%8h1,458.5+0.035%$291K$952K20xas long as short
GMX ZEC/USD [WBTC.b-USDC]L +0.0071% / S −0.0023%1h1,457.5−0.028%$409K—100xas long as short
01 Exchange ZECUSD+0.0088%1h1,459.1+0.079%$8K$7K5xas long as short
Show all 51 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Popdex ZECUSDT+0.0096%1h1,458.5+0.036%$173K$1.7M50xas long as short
Katana Perps ZEC-USD+0.0100%8h1,458.8+0.056%$10K$858K10xas long as short
Paradex ZEC-USD-PERP+0.0100%8h1,458.5+0.037%$60K$43K10xas long as short
Nado ZEC-PERP+0.0100%1h1,458.6+0.044%$2.8M$6.6M10xas long as short
Hyperliquid ZEC+0.0100%1h1,460.4+0.169%$759.7M$431.6M10xas long as short
Aster ZECUSDT+0.0100%8h1,458.7+0.052%$14.8M$27.9M75xas long as short
Pacifica ZEC+0.0100%1h1,458.4+0.032%$1.7M$2.4M10xas long as short
Binance ZECUSDT+0.0100%8h1,459.2+0.089%$670.4M$2.21B75xas long as short
Bybit ZECUSDT+0.0100%8h1,458.7+0.049%$261.9M$602.0M75xas long as short
OKX ZEC-USDT-SWAP+0.0100%8h1,458.9+0.066%$178.2M$1.22B50xas long as short
Ondo Perps ZEC-USD.P+0.0100%1h1,457.6−0.023%$396K$442K5xas long as short
Bulk ZEC-USD+0.0100%1h1,457.5−0.027%$880K$18K10xas long as short
Gate ZEC_USDT+0.0100%8h1,458.9+0.064%$50.6M$175.5M75xas long as short
MEXC ZEC_USDT+0.0100%8h1,459.1+0.079%$215.6M$777.3M150xas long as short
KuCoin ZECUSDTM+0.0100%8h1,458.2+0.014%$102.9M$54.0M75xas long as short
Bitget ZECUSDT+0.0100%8h1,459.2+0.089%$165.9M$270.9M75xas long as short
BingX ZEC-USDT+0.0100%8h1,458.9+0.062%—$105.6M—as long as short
Variational Omni ZEC+0.0100%8h1,457.6−0.023%$47.8M$32.6M—as long as short
edgeX ZECUSDC+0.0100%4h1,458.8+0.058%$568K$8.6M20xas long as short
GRVT ZEC_USDT_Perp+0.0100%8h1,459.1+0.080%$3.0M$451K10xas long as short
ApeX Omni ZECUSDT+0.0100%1h1,459.1+0.078%$405K$942K50xas long as short
StandX ZEC-USD+0.0100%1h1,457.7−0.020%$49K$4.7M30xas long as short
Polymarket Perps ZEC-USD+0.0100%1h1,458+0.004%$354K$1.8M10xas long as short
Bullet ZEC-USDshort+0.0100%1h1,458.1+0.010%$161K$184K20x
Derive ZEC-PERP+0.0100%1h1,457.2−0.053%$445K$521K6.7xas long as short
SunX ZEC-USDT+0.0100%8h1,460.5+0.178%$3K$1.1M20xas long as short
SoDEX ZEC-USD+0.0100%1h1,458.4+0.034%$233K$3.4M10xas long as short
HTX ZEC-USDT+0.0100%8h1,458+0.004%$2.7M$18.4M75xas long as short
Phemex ZECUSDT+0.0100%8h1,459.2+0.087%$3.8M$5.1M50xas long as short
Extended ZEC-USD+0.0104%1h1,458.2+0.021%$2.8M$7.7M10xas long as short
Aevo ZEC-PERP+0.0104%1h1,458.2+0.018%$47K$151K20xas long as short
Phoenix ZEC+0.0123%1h1,458.7+0.051%$4.6M$1.3M10xas long as short
Backpack ZEC_USDC_PERP+0.0189%1h1,459.4+0.099%$2.4M$3.9M15xas long as short
Lighter ZEC+0.0248%1h1,459.9+0.135%$19.3M$46.0M20xas long as short
Kraken Futures PF_ZECUSD+0.0277%1h1,458.4+0.033%$18.0M$45.2M25xas long as short
Lighter RH ZEC+0.0312%1h1,459.8+0.130%$2.1M$7.0M10xas long as short
Deribit ZEC_USDC-PERPETUAL+0.0319%1h1,459.2+0.086%$616K$1.3M25xas long as short
RISEx ZEC/USDC+0.0412%1h1,458.5+0.040%$923K$1.1M10xas long as short
Coinbase International ZEC-PERP-INTX+0.0448%1h1,459.9+0.136%$3.8M$9.1M50xas long as short
Arcus ZEC-USD+0.0626%1h1,459.6+0.115%$680K$8.2M10xas long as short
Aftermath Perps ZECUSD+0.0679%1h1,458.8+0.057%$45K$49K10xas long as short