Funding you earn now, next payment 04:00 UTC+0.3180%/8h= +348.2% APRnext payment +$3.98 per $10,000 · paid last 24h +0.609%
Price spread now: GMX against Injective−0.100%57s7-day average −0.045% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)+0.425%+$43 on $10k
+Price spread, last 4 days (all we have)−1.152%−$115 · spread now −0.100%, 7d avg −0.045%
=Funding pays, the price is against you. GMX is 0.055% cheaper against Injective than usual: you would sell low and buy high (spread −0.100% now, against its 7-day average of −0.045%). If the spread goes back, that is −$6 on $10k: about 1 hour of funding at the current rate (+$95 a day). At the pace of the last 3 days (+0.425% in total) that is about 10 hours. The two prices were read 57 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 0.425% in total (about 47.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$3.98 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 | 1,449.6 | −0.3166 | get 0.0396% / 1h | 51m 37s | $33K | $272K | 12x |
| Short | GMX ZEC/USD [WBTC.b-USDC] | 1,448.1 | L +0.0064% / S −0.0014% | get 0.0002% / 1h | 51m 37s | $407K | — | 100x |
Injective ZEC/USDC PERP
GMX ZEC/USD [WBTC.b-USDC]Funding history
latest
Range statsloading…
Price spread between the two exchanges
GMX 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
- $667.85
- Price spread: −0.100% → −0.045%
- −$5.53
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee GMX: 6 bp × 2 orders
- −$12
- Net
- $650.3
- Costs to cover
- 0.120%
- Break-even
- 0.2 days
Slippage unknown: Injective: live order book, 7 min ago; GMX: 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, 7 min ago | 48.95 bp | 490972.7 bp −$491.0K | 4967289.5 bp −$49.67M | 49442056.0 bp −$4944.21M | 246386944.0 bp −$123193.47M |
| Sell GMX no order-book sample | — | — | — | — | — |
GMX: 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 | −0.3166% | 1h | 1,449.6 | long leg | $33K | $272K | 12x | |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,448.6 | −0.070% | $6K | $1K | 10x | as long as short |
| BloFin ZEC-USDT | −0.0078% | 8h | 1,448.4 | −0.085% | $29.2M | $70.3M | 75x | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,446.7 | −0.201% | $407K | $40K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,447.5 | −0.143% | $1.5M | $4.5M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,447.8 | −0.122% | $83K | $240K | 10x | as long as short |
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,448.2 | −0.093% | $5.1M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0058% | 8h | 1,448.3 | −0.089% | $290K | $958K | 20x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC]short | L +0.0064% / S −0.0014% | 1h | 1,448.1 | −0.100% | $407K | — | 100x | |
| 01 Exchange ZECUSD | +0.0080% | 1h | 1,447.6 | −0.134% | $7K | $7K | 5x | as long as short |
Hotstuff ZEC-PERP
BloFin ZEC-USDT
dYdX ZEC-USD
Kalshi KXZECPERP
Perpl ZEC
gTrade (Gains Network) ZEC/USD
Orderly PERP_ZEC_USDC
01 Exchange ZECUSDShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Popdex ZECUSDT | +0.0096% | 1h | 1,448.5 | −0.073% | $172K | $1.7M | 50x | as long as short |
| Katana Perps ZEC-USD | +0.0100% | 8h | 1,447.2 | −0.163% | $10K | $874K | 10x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,447.5 | −0.142% | $60K | $43K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,448.4 | −0.078% | $2.5M | $6.3M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,448.3 | −0.088% | $753.4M | $434.2M | 10x | as long as short |
| Aster ZECUSDT | +0.0100% | 8h | 1,447.1 | −0.170% | $14.4M | $27.7M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,447.7 | −0.132% | $1.6M | $2.5M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,447.6 | −0.137% | $663.9M | $2.21B | 75x | as long as short |
| Bybit ZECUSDT | +0.0100% | 8h | 1,446.9 | −0.185% | $261.1M | $602.8M | 75x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0100% | 8h | 1,447.6 | −0.135% | $177.1M | $1.22B | 50x | as long as short |
| Ondo Perps ZEC-USD.P | +0.0100% | 1h | 1,448.7 | −0.061% | $394K | $449K | 5x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,449.4 | −0.010% | $876K | $23K | 10x | as long as short |
| Gate ZEC_USDT | +0.0100% | 8h | 1,447.5 | −0.143% | $49.8M | $172.1M | 75x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,447.6 | −0.137% | $213.4M | $767.5M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,447.6 | −0.135% | $101.9M | $55.0M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,447.8 | −0.123% | $161.7M | $272.2M | 75x | as long as short |
| BingX ZEC-USDT | +0.0100% | 8h | 1,447.5 | −0.141% | — | $98.3M | — | as long as short |
| Backpack ZEC_USDC_PERP | +0.0100% | 1h | 1,448.7 | −0.063% | $2.5M | $3.8M | 15x | as long as short |
| Variational Omni ZEC | +0.0100% | 8h | 1,451.4 | +0.125% | $47.5M | $32.8M | — | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,450.4 | +0.053% | $564K | $8.7M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,452.4 | +0.197% | $3.0M | $432K | 10x | as long as short |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,450 | +0.027% | $408K | $912K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,449.7 | +0.008% | $49K | $4.7M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,448.4 | −0.081% | $366K | $1.8M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,448.4 | −0.083% | $160K | $185K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,447.4 | −0.147% | $442K | $521K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,450.9 | +0.093% | $3K | $1.1M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,448.4 | −0.079% | $232K | $3.4M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,447.4 | −0.149% | $2.6M | $18.1M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,447.9 | −0.113% | $3.8M | $5.1M | 50x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,447.4 | −0.152% | $2.8M | $7.7M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,448 | −0.108% | $47K | $151K | 20x | as long as short |
| Phoenix ZEC | +0.0123% | 1h | 1,450.6 | +0.071% | $4.6M | $1.3M | 10x | as long as short |
| Kraken Futures PF_ZECUSD | +0.0279% | 1h | 1,447.9 | −0.114% | $17.9M | $44.7M | 25x | as long as short |
| Lighter ZEC | +0.0320% | 1h | 1,448.9 | −0.049% | $19.0M | $45.8M | 20x | as long as short |
| Deribit ZEC_USDC-PERPETUAL | +0.0345% | 1h | 1,449.1 | −0.032% | $608K | $1.3M | 25x | as long as short |
| Lighter RH ZEC | +0.0392% | 1h | 1,449.2 | −0.026% | $2.0M | $6.9M | 10x | as long as short |
| RISEx ZEC/USDC | +0.0412% | 1h | 1,448.2 | −0.097% | $829K | $1.0M | 10x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0448% | 1h | 1,450.6 | +0.067% | $3.7M | $8.9M | 50x | as long as short |
| Arcus ZEC-USD | +0.0626% | 1h | 1,449.9 | +0.022% | $731K | $8.3M | 10x | as long as short |
| Aftermath Perps ZECUSD | +0.0677% | 1h | 1,450.4 | +0.054% | $44K | $49K | 10x | as long as short |
Popdex ZECUSDT
Katana Perps ZEC-USD
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Hyperliquid ZEC
Aster ZECUSDT
Pacifica ZEC
Binance ZECUSDT
Bybit ZECUSDT
OKX ZEC-USDT-SWAP
Ondo Perps ZEC-USD.P
Bulk ZEC-USD
Gate ZEC_USDT
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDT
Backpack ZEC_USDC_PERP
Variational Omni ZEC
edgeX ZECUSDC
GRVT ZEC_USDT_Perp
ApeX Omni ZECUSDT
StandX ZEC-USD
Polymarket Perps ZEC-USD
Bullet ZEC-USD
Derive ZEC-PERP
SunX ZEC-USDT
SoDEX ZEC-USD
HTX ZEC-USDT
Phemex ZECUSDT
Extended ZEC-USD
Aevo ZEC-PERP
Phoenix ZEC
Kraken Futures PF_ZECUSD
Lighter ZEC
Deribit ZEC_USDC-PERPETUAL
Lighter RH ZEC
RISEx ZEC/USDC
Coinbase International ZEC-PERP-INTX
Arcus ZEC-USD
Aftermath Perps ZECUSD