Funding you earn now, next payment 22:00 UTC+0.3576%/8h= +391.5% APRnext payment +$4.47 per $10,000 · paid last 24h +0.338%
Price spread now: Derive against Injective+1.146%7-day average −0.175% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+2.243%+$224 on $10k
+Price spread, last 3 days (all we have)−1.920%−$192 · spread now +1.146%, 7d avg −0.175%
=Both sides work for this trade now. Funding pays +$107 a day on $10k at the current rate, and Derive is 1.321% dearer against Injective than usual: you sell high and buy low: +$132 more if the spread goes back to its 7-day average of −0.175%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 2.243% in total (about 116.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$4.47 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 | Injective ZEC/USDC PERP | 1,437.6 | −0.3476 | get 0.0434% / 1h | 54m 27s | $33K | $275K | 12x |
| Short | Derive ZEC-PERP | 1,454.1 | 0.0100 | get 0.0013% / 1h | 54m 27s | $442K | $493K | 6.7x |
Injective ZEC/USDC PERP
Derive ZEC-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Derive 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
- $750.91
- Price spread: +1.146% → −0.175%
- $132.11
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Derive: 3 bp × 2 orders
- −$6
- Net
- $877
- Costs to cover
- 0.060%
- Break-even
- from the start
Slippage unknown: Injective: live order book, 34 min ago; Derive: no order-book sample. 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, 34 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 Derive no order-book sample | — | — | — | — | — |
Derive: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | 1,437.6 | long leg | $33K | $275K | 12x | |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,451 | +0.928% | $6K | $2K | 10x | as long as short |
| Kraken Futures PF_ZECUSD | −0.0071% | 1h | 1,454.9 | +1.202% | $17.6M | $44.9M | 25x | as long as short |
| BloFin ZEC-USDT | −0.0065% | 8h | 1,454.9 | +1.204% | $29.2M | $76.1M | 75x | as long as short |
| Variational Omni ZEC | −0.0034% | 8h | 1,451.4 | +0.958% | $45.5M | $32.3M | — | as long as short |
| Bybit ZECUSDT | −0.0015% | 8h | 1,449.5 | +0.826% | $268.4M | $678.5M | 75x | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,451.4 | +0.962% | $409K | $106K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,454.2 | +1.151% | $848K | $5.5M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,450.9 | +0.921% | $82K | $400K | 10x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0006% | 8h | 1,455.4 | +1.236% | $292K | $1.5M | 20x | as long as short |
Hotstuff ZEC-PERP
Kraken Futures PF_ZECUSD
BloFin ZEC-USDT
Variational Omni ZEC
Bybit ZECUSDT
dYdX ZEC-USD
Kalshi KXZECPERP
Perpl ZEC
Orderly PERP_ZEC_USDCShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,455.5 | +1.244% | $5.2M | — | 150x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0035% | 8h | 1,449.9 | +0.856% | $171.9M | $1.36B | 50x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0041% / S +0.0061% | 1h | 1,455.3 | +1.228% | $536K | — | 100x | as long as short |
| Phoenix ZEC | +0.0045% | 1h | 1,450.4 | +0.888% | $4.6M | $1.6M | 10x | as long as short |
| 01 Exchange ZECUSD | +0.0048% | 1h | 1,454 | +1.137% | $8K | $8K | 5x | as long as short |
| Aster ZECUSDT | +0.0054% | 8h | 1,451.4 | +0.958% | $15.1M | $35.2M | 75x | as long as short |
| Gate ZEC_USDT | +0.0061% | 8h | 1,450.3 | +0.881% | $49.2M | $185.0M | 75x | as long as short |
| Ondo Perps ZEC-USD.P | +0.0078% | 1h | 1,449.9 | +0.855% | $393K | $522K | 5x | as long as short |
| Polymarket Perps ZEC-USD | +0.0086% | 1h | 1,450.3 | +0.883% | $298K | $2.1M | 10x | as long as short |
| Katana Perps ZEC-USD | +0.0095% | 8h | 1,450.4 | +0.891% | $17K | $886K | 10x | as long as short |
| MEXC ZEC_USDT | +0.0095% | 8h | 1,450.7 | +0.908% | $219.6M | $878.8M | 150x | as long as short |
| Binance ZECUSDT | +0.0096% | 8h | 1,450 | +0.859% | $657.7M | $2.55B | 75x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,450.1 | +0.871% | $177K | $2.0M | 50x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,450.5 | +0.900% | $60K | $37K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,451.5 | +0.968% | $3.0M | $6.9M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,451.2 | +0.945% | $751.4M | $491.4M | 10x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,451.3 | +0.955% | $1.6M | $3.1M | 10x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,454.9 | +1.202% | $896K | $37K | 10x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,451.5 | +0.965% | $103.6M | $57.3M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,450.7 | +0.912% | $162.1M | $317.1M | 75x | as long as short |
| BingX ZEC-USDT | +0.0100% | 8h | 1,450.8 | +0.916% | — | $108.7M | — | as long as short |
| Backpack ZEC_USDC_PERP | +0.0100% | 1h | 1,456.3 | +1.299% | $2.3M | $4.1M | 15x | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,450.9 | +0.923% | $487K | $9.7M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,452.2 | +1.018% | $3.0M | $501K | 10x | as long as short |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,450.5 | +0.897% | $705K | $604K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,455.2 | +1.224% | $109K | $4.8M | 30x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,451 | +0.933% | $127K | $161K | 20x | as long as short |
| Derive ZEC-PERPshort | +0.0100% | 1h | 1,454.1 | +1.146% | $442K | $493K | 6.7x | |
| SunX ZEC-USDT | +0.0100% | 8h | 1,456.4 | +1.306% | $3K | $1.3M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,455.2 | +1.226% | $220K | $4.7M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,452.3 | +1.023% | $2.4M | $25.3M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,454.9 | +1.205% | $3.7M | $5.5M | 50x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,455.5 | +1.247% | $36K | $362K | 20x | as long as short |
| Lighter ZEC | +0.0112% | 1h | 1,452.5 | +1.035% | $18.8M | $53.6M | 20x | as long as short |
| RISEx ZEC/USDC | +0.0219% | 1h | 1,451 | +0.932% | $861K | $2.5M | 10x | as long as short |
| Extended ZEC-USD | +0.0400% | 1h | 1,450.6 | +0.907% | $3.3M | $7.0M | 10x | as long as short |
| Deribit ZEC_USDC-PERPETUAL | +0.0419% | 1h | 1,456.4 | +1.306% | $570K | $1.3M | 25x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0440% | 1h | 1,458.3 | +1.438% | $3.7M | $11.6M | 50x | as long as short |
| Aftermath Perps ZECUSD | +0.0463% | 1h | 1,454.4 | +1.165% | $39K | $32K | 10x | as long as short |
| Arcus ZEC-USD | +0.0518% | 1h | 1,452.9 | +1.066% | $752K | $7.8M | 10x | as long as short |
| Lighter RH ZEC | +0.0624% | 1h | 1,453.2 | +1.085% | $2.0M | $8.4M | 10x | as long as short |
gTrade (Gains Network) ZEC/USD
OKX ZEC-USDT-SWAP
GMX ZEC/USD [WBTC.b-USDC]
Phoenix ZEC
01 Exchange ZECUSD
Aster ZECUSDT
Gate ZEC_USDT
Ondo Perps ZEC-USD.P
Polymarket Perps ZEC-USD
Katana Perps ZEC-USD
MEXC ZEC_USDT
Binance ZECUSDT
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
SunX ZEC-USDT
SoDEX ZEC-USD
HTX ZEC-USDT
Phemex ZECUSDT
Aevo ZEC-PERP
Lighter ZEC
RISEx ZEC/USDC
Extended ZEC-USD
Deribit ZEC_USDC-PERPETUAL
Coinbase International ZEC-PERP-INTX
Aftermath Perps ZECUSD
Arcus ZEC-USD
Lighter RH ZEC