Funding you earn now, next payment 22:00 UTC+0.3452%/8h= +378.0% APRpaid last 24h +0.329%
Price spread now: Bybit against Injective−0.299%58s7-day average −0.121% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+2.190%+$219 on $10k
+Price spread, last 3 days (all we have)−1.809%−$181 · spread now −0.299%, 7d avg −0.121%
=Funding pays, the price is against you. Bybit is 0.178% cheaper against Injective than usual: you would sell low and buy high (spread −0.299% now, against its 7-day average of −0.121%). If the spread goes back, that is −$18 on $10k: about 4 hours of funding at the current rate (+$104 a day). At the pace of the last 7 days (+2.190% in total) that is about 14 hours. The two prices were read 58 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 2.190% in total (about 114.2% 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 | Injective ZEC/USDC PERP | 1,455 | −0.3476 | get 0.0434% / 1h | 58m 18s | $34K | $275K | 12x |
| Short | Bybit ZECUSDT | 1,450.7 | −0.0023 | pay 0.0023% / 8h | 2h 58m | $268.6M | $677.8M | 75x |
Injective ZEC/USDC PERP
Bybit ZECUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Injective. 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
- $724.98
- Price spread: −0.299% → −0.121%
- −$17.77
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- $696.2
- Costs to cover
- 0.110%
- Break-even
- 0.3 days
Slippage unknown: Injective: live order book, 30 min ago; Bybit: live order book, 6 min ago. Net counts fees only.
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 Injective live order book, 30 min ago | 58.14 bp | 489902.9 bp −$489.9K | 4956187.5 bp −$49.56M | 49327108.0 bp −$4932.71M | 245801776.0 bp −$122900.89M |
| Sell Bybit live order book, 6 min ago | 0.03 bp | 5.8 bp −$6 | 8.0 bp −$80 | 16.2 bp −$1,625 | 30.5 bp −$15.3K |
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 PERPlong | −0.3476% | 1h | 1,455 | long leg | $34K | $275K | 12x | |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,452.4 | −0.182% | $6K | $2K | 10x | as long as short |
| Kraken Futures PF_ZECUSD | −0.0072% | 1h | 1,450.9 | −0.281% | $17.6M | $44.7M | 25x | as long as short |
| BloFin ZEC-USDT | −0.0058% | 8h | 1,452.6 | −0.165% | $29.2M | $76.3M | 75x | as long as short |
| Variational Omni ZEC | −0.0041% | 8h | 1,455.2 | +0.015% | $46.3M | $31.5M | — | as long as short |
| Ondo Perps ZEC-USD.P | −0.0041% | 1h | 1,454.2 | −0.057% | $395K | $523K | 5x | as long as short |
| Bybit ZECUSDTshort | −0.0023% | 8h | 1,450.7 | −0.299% | $268.6M | $677.8M | 75x | |
| dYdX ZEC-USD | 0.0000% | 1h | 1,453 | −0.141% | $409K | $106K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,451.8 | −0.222% | $848K | $5.5M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,450.8 | −0.292% | $82K | $400K | 10x | as long as short |
Hotstuff ZEC-PERP
Kraken Futures PF_ZECUSD
BloFin ZEC-USDT
Variational Omni ZEC
Ondo Perps ZEC-USD.P
dYdX ZEC-USD
Kalshi KXZECPERP
Perpl ZECShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit ZEC_USDC-PERPETUAL | 0.0000% | 1h | 1,451.6 | −0.233% | $568K | $1.3M | 25x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0005% | 8h | 1,451.2 | −0.267% | $291K | $1.5M | 20x | as long as short |
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,451.2 | −0.261% | $5.1M | — | 150x | as long as short |
| Polymarket Perps ZEC-USD | +0.0017% | 1h | 1,450.6 | −0.304% | $298K | $2.1M | 10x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0032% | 8h | 1,451.2 | −0.265% | $172.5M | $1.37B | 50x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0042% / S +0.0061% | 1h | 1,451.2 | −0.260% | $535K | — | 100x | as long as short |
| Phoenix ZEC | +0.0045% | 1h | 1,455.2 | +0.009% | $4.6M | $1.5M | 10x | as long as short |
| Aster ZECUSDT | +0.0047% | 8h | 1,451.1 | −0.274% | $15.0M | $35.0M | 75x | as long as short |
| Gate ZEC_USDT | +0.0052% | 8h | 1,450.9 | −0.283% | $49.2M | $183.9M | 75x | as long as short |
| 01 Exchange ZECUSD | +0.0056% | 1h | 1,451.1 | −0.271% | $8K | $8K | 5x | as long as short |
| MEXC ZEC_USDT | +0.0091% | 8h | 1,451.1 | −0.274% | $213.2M | $876.1M | 150x | as long as short |
| Binance ZECUSDT | +0.0093% | 8h | 1,451.6 | −0.238% | $660.6M | $2.56B | 75x | as long as short |
| Katana Perps ZEC-USD | +0.0095% | 8h | 1,451.3 | −0.259% | $17K | $886K | 10x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,450.6 | −0.302% | $177K | $2.0M | 50x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,451.5 | −0.243% | $60K | $37K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,451.8 | −0.220% | $3.0M | $7.0M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,451.6 | −0.236% | $753.1M | $506.8M | 10x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,451.9 | −0.217% | $1.6M | $3.1M | 10x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,454.9 | −0.010% | $896K | $37K | 10x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,450.5 | −0.309% | $103.7M | $57.2M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,451.1 | −0.271% | $162.9M | $317.0M | 75x | as long as short |
| BingX ZEC-USDT | +0.0100% | 8h | 1,451.4 | −0.248% | — | $108.4M | — | as long as short |
| Backpack ZEC_USDC_PERP | +0.0100% | 1h | 1,452.9 | −0.145% | $2.3M | $4.1M | 15x | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,454.7 | −0.023% | $488K | $9.9M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,454.8 | −0.014% | $3.0M | $512K | 10x | as long as short |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,454.2 | −0.056% | $712K | $608K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,453 | −0.143% | $109K | $4.8M | 30x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,451.1 | −0.271% | $127K | $161K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,450 | −0.344% | $441K | $493K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,454.7 | −0.023% | $3K | $1.3M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,451.3 | −0.258% | $219K | $4.7M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,450.5 | −0.310% | $2.4M | $25.4M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,451.8 | −0.224% | $3.7M | $5.5M | 50x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,451.6 | −0.239% | $36K | $362K | 20x | as long as short |
| Lighter ZEC | +0.0136% | 1h | 1,452.6 | −0.169% | $18.8M | $53.5M | 20x | as long as short |
| RISEx ZEC/USDC | +0.0219% | 1h | 1,451.4 | −0.249% | $861K | $2.5M | 10x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0440% | 1h | 1,453.2 | −0.126% | $3.7M | $11.5M | 50x | as long as short |
| Aftermath Perps ZECUSD | +0.0462% | 1h | 1,454.8 | −0.019% | $39K | $32K | 10x | as long as short |
| Lighter RH ZEC | +0.0464% | 1h | 1,453.4 | −0.114% | $2.0M | $8.3M | 10x | as long as short |
| Extended ZEC-USD | +0.0480% | 1h | 1,451.1 | −0.269% | $3.3M | $7.0M | 10x | as long as short |
| Arcus ZEC-USD | +0.0518% | 1h | 1,454 | −0.068% | $752K | $7.8M | 10x | as long as short |
Deribit ZEC_USDC-PERPETUAL
Orderly PERP_ZEC_USDC
gTrade (Gains Network) ZEC/USD
Polymarket Perps ZEC-USD
OKX ZEC-USDT-SWAP
GMX ZEC/USD [WBTC.b-USDC]
Phoenix ZEC
Aster ZECUSDT
Gate ZEC_USDT
01 Exchange ZECUSD
MEXC ZEC_USDT
Binance ZECUSDT
Katana Perps ZEC-USD
Popdex ZECUSDT
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Hyperliquid ZEC
Pacifica ZEC
Bulk ZEC-USD
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDT
Backpack ZEC_USDC_PERP
edgeX ZECUSDC
GRVT ZEC_USDT_Perp
ApeX Omni ZECUSDT
StandX ZEC-USD
Bullet ZEC-USD
Derive ZEC-PERP
SunX ZEC-USDT
SoDEX ZEC-USD
HTX ZEC-USDT
Phemex ZECUSDT
Aevo ZEC-PERP
Lighter ZEC
RISEx ZEC/USDC
Coinbase International ZEC-PERP-INTX
Aftermath Perps ZECUSD
Lighter RH ZEC
Extended ZEC-USD
Arcus ZEC-USD