ZEC

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0457%/8h= +50.1% APRnext payment +$0.57 per $10,000 · paid last 24h +0.026%

Price spread now: Deribit against Kraken Futures+0.055%7-day average +0.034% · you sell dearer than you buy

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$420.419% of the position

Long on Kraken Futures Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.298%+$30 on $10k

Price spread, last 3 days (all we have)−0.022%−$2 · spread now +0.055%, 7d avg +0.034%

Together, before fees+0.276%+$28 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Deribit is 0.021% dearer against Kraken Futures than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.034%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.298% in total (about 15.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.57 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	Kraken Futures PF_ZECUSD	1,470	−0.0343	get 0.0043% / 1h	58m 46s	$17.9M	$43.8M	25x
Short	Deribit ZEC_USDC-PERPETUAL	1,470.8	0.0115	get 0.0014% / 1h	58m 46s	$613K	$1.3M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Kraken Futures. 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

Position, each leg$Hold fordaysFee Kraken FuturesbpFee DeribitbpOrdersPrice spread, now +0.055%Rate

Funding earned: $96.07
Price spread: +0.055% → +0.034%: $2.08
Slippage, 4 orders: −$24.86
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $56.29
Costs to cover: 0.419%
Break-even: 2.9 days

Slippage from Kraken Futures: live order book, 5 min ago; Deribit: live order book, just now.

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 Kraken Futures live order book, 5 min ago	1.56 bp	9.0 bp −$9	12.8 bp −$128	17.7 bp −$1,773	93.3 bp −$46.7K
Sell Deribit live order book, just now	6.42 bp	12.3 bp −$12	doesn't fit	doesn't fit	doesn't fit

ZEC on 50 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 PERP	−0.3321%	1h	1,472.6	+0.173%	$34K	$275K	12x	as long as short
Kraken Futures PF_ZECUSDlong	−0.0343%	1h	1,470	long leg	$17.9M	$43.8M	25x
BloFin ZEC-USDT	−0.0101%	8h	1,469.8	−0.018%	$29.6M	$74.5M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,470.9	+0.058%	$6K	$2K	10x	as long as short
Variational Omni ZEC	−0.0063%	8h	1,469.3	−0.050%	$47.6M	$34.4M	—	as long as short
dYdX ZEC-USD	0.0000%	1h	1,470.9	+0.062%	$414K	$104K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,471.1	+0.075%	$957K	$5.6M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,470.1	+0.005%	$84K	$405K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,470.2	+0.013%	$5.2M	—	150x	as long as short
Bullet ZEC-USD	+0.0012%	1h	1,469.5	−0.034%	$128K	$159K	20x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_ZEC_USDC	+0.0016%	8h	1,469.7	−0.023%	$294K	$1.4M	20x	as long as short
Polymarket Perps ZEC-USD	+0.0023%	1h	1,469.9	−0.008%	$333K	$1.9M	10x	as long as short
Phoenix ZEC	+0.0024%	1h	1,471.4	+0.093%	$4.7M	$1.6M	10x	as long as short
ApeX Omni ZECUSDT	+0.0028%	1h	1,470.5	+0.031%	$431K	$845K	50x	as long as short
SoDEX ZEC-USD	+0.0028%	1h	1,469.7	−0.020%	$242K	$4.4M	10x	as long as short
OKX ZEC-USDT-SWAP	+0.0037%	8h	1,470.4	+0.025%	$181.6M	$1.34B	50x	as long as short
Gate ZEC_USDT	+0.0049%	8h	1,470.5	+0.030%	$51.1M	$177.3M	75x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0054% / S −0.0010%	1h	1,470.1	+0.005%	$371K	—	100x	as long as short
01 Exchange ZECUSD	+0.0056%	1h	1,470.8	+0.054%	$8K	$8K	5x	as long as short
Ondo Perps ZEC-USD.P	+0.0095%	1h	1,470	−0.002%	$399K	$520K	5x	as long as short
Lighter ZEC	+0.0096%	1h	1,472.7	+0.183%	$19.2M	$50.2M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,470.1	+0.005%	$174K	$1.9M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,470.8	+0.055%	$60K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,470.7	+0.048%	$2.6M	$6.8M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,472	+0.135%	$763.2M	$473.5M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,470	−0.002%	$14.9M	$32.5M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,471.5	+0.098%	$1.7M	$2.9M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,470.8	+0.050%	$683.2M	$2.45B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,470.1	+0.007%	$274.7M	$649.4M	75x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,472.1	+0.144%	$700K	$8.5M	10x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,472.8	+0.188%	$896K	$38K	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,470.4	+0.028%	$228.9M	$818.5M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,470.4	+0.024%	$104.4M	$56.3M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,470.9	+0.058%	$163.6M	$300.9M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,469.7	−0.019%	—	$6.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,470.1	+0.003%	$549K	$9.2M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,470.6	+0.041%	$3.0M	$454K	10x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,470.9	+0.059%	$110K	$4.8M	30x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,468.3	−0.118%	$458K	$508K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,471.7	+0.111%	$3K	$1.2M	20x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,469	−0.070%	$2.5M	$22.5M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,470.3	+0.020%	$3.9M	$5.4M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,470.9	+0.058%	$3.2M	$7.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,470.2	+0.014%	$37K	$191K	20x	as long as short
Deribit ZEC_USDC-PERPETUALshort	+0.0115%	1h	1,470.8	+0.055%	$613K	$1.3M	25x
RISEx ZEC/USDC	+0.0228%	1h	1,471.3	+0.087%	$838K	$1.2M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0440%	1h	1,470.6	+0.042%	$2.5M	$3.8M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0448%	1h	1,472.9	+0.192%	$3.8M	$10.6M	50x	as long as short
Lighter RH ZEC	+0.0552%	1h	1,473.3	+0.221%	$2.0M	$7.9M	10x	as long as short
Aftermath Perps ZECUSD	+0.0778%	1h	1,472.1	+0.139%	$46K	$46K	10x	as long as short