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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 06:00 UTC+0.3250%/8h= +355.8% APRnext payment +$4.06 per $10,000 · paid last 24h +0.670%
Price spread now: gTrade (Gains Network) against Injective+1.055%55s7-day average −0.065% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on InjectiveShort on gTrade (Gains Network)
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.574%+$57 on $10k
Price spread, last 4 days (all we have)−0.520%−$52 · spread now +1.055%, 7d avg −0.065%
Together, before fees+0.054%+$5 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$97 a day on $10k at the current rate, and gTrade (Gains Network) is 1.120% dearer against Injective than usual: you sell high and buy low: +$112 more if the spread goes back to its 7-day average of −0.065%. The two prices were read 55 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 3 days it paid 0.574% in total (about 61.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$4.06 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 PERP1,493−0.3243get 0.0405% / 1h19m 57s$34K$273K12x
ShortgTrade (Gains Network) ZEC/USD1,508.8L +0.0007% / S −0.0006%get 0.0001% / 1h19m 57s$5.4M—150x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Injective. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$682.43
Price spread: +1.055% → −0.065%
$112.04
Slippage, 4 orders
no order book: not counted
Fee Injective: 0.01 bp × 2 orders
−$0.02
Fee gTrade (Gains Network): 5 bp × 2 orders
−$10
Net
$784.45
Costs to cover
0.100%
Break-even
from the start
Slippage unknown: Injective: live order book, 29 min ago; gTrade (Gains Network): virtual book (oracle venue), 4 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, 29 min ago60.15 bp489443.9 bp −$489.4K4951866.0 bp −$49.52M49286508.0 bp −$4928.65M245605760.0 bp −$122802.88M
Sell gTrade (Gains Network) virtual book (oracle venue), 4 min ago130.05 bp135.1 bp −$135584.7 bp −$5,847doesn'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−0.3243%1h1,493long leg$34K$273K12x
BloFin ZEC-USDT−0.0108%8h1,493.9+0.056%$30.3M$72.6M75xas long as short
Hotstuff ZEC-PERP−0.0080%1h1,506.1+0.877%$6K$1K10xas long as short
dYdX ZEC-USD0.0000%1h1,503.7+0.713%$418K$36K5xas long as short
Kalshi KXZECPERP0.0000%8h1,504.1+0.745%$1.7M$4.5M2.2xas long as short
Perpl ZEC0.0000%43m1,508.1+1.010%$86K$239K10xas long as short
gTrade (Gains Network) ZEC/USDshortL +0.0007% / S −0.0006%1h1,508.8+1.055%$5.4M—150x
Orderly PERP_ZEC_USDC+0.0064%8h1,507.5+0.972%$304K$897K20xas long as short
01 Exchange ZECUSD+0.0064%1h1,506.3+0.887%$8K$7K5xas long as short
Phoenix ZEC+0.0092%1h1,475.1−1.200%$4.7M$1.3M10xas long as short
Show all 51 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bybit ZECUSDT+0.0095%8h1,508.7+1.050%$273.7M$608.1M75xas long as short
Popdex ZECUSDT+0.0096%1h1,506.1+0.875%$143K$1.7M50xas long as short
Paradex ZEC-USD-PERP+0.0100%8h1,506.4+0.894%$62K$43K10xas long as short
Nado ZEC-PERP+0.0100%1h1,508+1.006%$2.9M$6.4M10xas long as short
Hyperliquid ZEC+0.0100%1h1,512.2+1.285%$790.9M$430.5M10xas long as short
Aster ZECUSDT+0.0100%8h1,509.6+1.110%$14.8M$28.9M75xas long as short
Pacifica ZEC+0.0100%1h1,504.7+0.781%$1.7M$2.4M10xas long as short
Binance ZECUSDT+0.0100%8h1,509.6+1.113%$700.7M$2.21B75xas long as short
OKX ZEC-USDT-SWAP+0.0100%8h1,508.4+1.033%$182.0M$1.27B50xas long as short
Ondo Perps ZEC-USD.P+0.0100%1h1,509.9+1.131%$403K$445K5xas long as short
Bulk ZEC-USD+0.0100%1h1,479.3−0.920%$894K$15K10xas long as short
Gate ZEC_USDT+0.0100%8h1,509.9+1.129%$55.0M$175.4M75xas long as short
MEXC ZEC_USDT+0.0100%8h1,510.2+1.151%$231.0M$771.0M150xas long as short
KuCoin ZECUSDTM+0.0100%8h1,509.8+1.126%$106.8M$53.5M75xas long as short
Bitget ZECUSDT+0.0100%8h1,508.1+1.007%$169.4M$273.2M75xas long as short
BingX ZEC-USDT+0.0100%8h1,509.6+1.113%—$112.9M—as long as short
Variational Omni ZEC+0.0100%8h1,494.7+0.111%$48.9M$32.5M—as long as short
edgeX ZECUSDC+0.0100%4h1,479.1−0.934%$558K$8.5M20xas long as short
GRVT ZEC_USDT_Perp+0.0100%8h1,481.5−0.773%$3.0M$462K10xas long as short
ApeX Omni ZECUSDT+0.0100%1h1,481.5−0.772%$410K$927K50xas long as short
StandX ZEC-USD+0.0100%1h1,495.6+0.173%$55K$4.6M30xas long as short
Polymarket Perps ZEC-USD+0.0100%1h1,508+1.004%$373K$1.7M10xas long as short
Bullet ZEC-USD+0.0100%1h1,509.2+1.085%$166K$183K20xas long as short
Derive ZEC-PERP+0.0100%1h1,507.5+0.968%$460K$506K6.7xas long as short
SunX ZEC-USDT+0.0100%8h1,510+1.136%$3K$1.2M20xas long as short
SoDEX ZEC-USD+0.0100%1h1,510.5+1.168%$250K$3.4M10xas long as short
HTX ZEC-USDT+0.0100%8h1,509.1+1.076%$2.6M$19.2M75xas long as short
Phemex ZECUSDT+0.0100%8h1,510.5+1.172%$4.0M$4.9M50xas long as short
Katana Perps ZEC-USD+0.0100%8h1,505.6+0.845%$13K$830K10xas long as short
GMX ZEC/USD [WBTC.b-USDC]L +0.0101% / S −0.0074%1h1,508.5+1.040%$399K—100xas long as short
Extended ZEC-USD+0.0104%1h1,509.1+1.079%$2.8M$8.0M10xas long as short
Aevo ZEC-PERP+0.0104%1h1,508.6+1.046%$46K$153K20xas long as short
Lighter RH ZEC+0.0120%1h1,512.2+1.282%$2.2M$7.2M10xas long as short
Kraken Futures PF_ZECUSD+0.0142%1h1,510.5+1.172%$18.4M$45.9M25xas long as short
RISEx ZEC/USDC+0.0154%1h1,506.1+0.877%$948K$1.1M10xas long as short
Lighter ZEC+0.0200%1h1,511.9+1.267%$19.9M$44.5M20xas long as short
Backpack ZEC_USDC_PERP+0.0443%1h1,512.2+1.283%$2.4M$3.7M15xas long as short
Coinbase International ZEC-PERP-INTX+0.0496%1h1,512.9+1.332%$3.7M$9.7M50xas long as short
Arcus ZEC-USD+0.0508%1h1,505.3+0.823%$639K$8.3M10xas long as short
Aftermath Perps ZECUSD+0.0746%1h1,483.4−0.647%$49K$58K10xas long as short
Deribit ZEC_USDC-PERPETUAL+0.0896%1h1,510.3+1.160%$645K$1.3M25xas long as short