Funding you earn now, next payment 04:00 UTC−0.0263%/8h= −28.8% APRnext payment −$0.33 per $10,000 · paid last 24h +0.050%
Price spread now: GMX against Kraken Futures+0.122%54s7-day average −0.005% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.051%−$5 on $10k
+Price spread, last 4 days (all we have)−0.420%−$42 · spread now +0.122%, 7d avg −0.005%
=The price spread pays, funding is against you. GMX is 0.126% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.122% now, against its 7-day average of −0.005%): +$13 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 38 hours. At the pace of the last 3 days (−0.051% in total) that is about 8.2 days. The two prices were read 54 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 -0.051% in total (about -5.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.33 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 | 1,449.8 | 0.0278 | pay 0.0035% / 1h | 44m 20s | $18.0M | $44.9M | 25x |
| Short | GMX ZEC/USD [WBTC.b-USDC] | 1,451.6 | L +0.0065% / S −0.0015% | get 0.0002% / 1h | 44m 20s | $408K | — | 100x |
Kraken Futures PF_ZECUSD
GMX ZEC/USD [WBTC.b-USDC]Funding history
latest
Range statsloading…
Price spread between the two exchanges
GMX 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$55.22
- Price spread: +0.122% → −0.005%
- $12.65
- Slippage, 4 orders
- no order book: not counted
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee GMX: 6 bp × 2 orders
- −$12
- Net
- −$64.57
- Costs to cover
- 0.220%
- Break-even
- never at this rate
Slippage unknown: Kraken Futures: live order book, 5 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 Kraken Futures live order book, 5 min ago | 2.42 bp | 11.0 bp −$11 | 16.0 bp −$160 | 24.5 bp −$2,451 | 107.9 bp −$54.0K |
| 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 PERP | −0.3166% | 1h | 1,449.7 | −0.005% | $33K | $272K | 12x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,450.5 | +0.050% | $6K | $1K | 10x | as long as short |
| BloFin ZEC-USDT | −0.0071% | 8h | 1,449.9 | +0.006% | $29.2M | $70.5M | 75x | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,449.6 | −0.014% | $408K | $40K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,450.3 | +0.035% | $1.5M | $4.5M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,451.3 | +0.102% | $83K | $240K | 10x | as long as short |
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,451.7 | +0.128% | $5.1M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0059% | 8h | 1,452.2 | +0.164% | $291K | $958K | 20x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC]short | L +0.0065% / S −0.0015% | 1h | 1,451.6 | +0.122% | $408K | — | 100x | |
| 01 Exchange ZECUSD | +0.0072% | 1h | 1,451.5 | +0.117% | $8K | $7K | 5x | as long as short |
Injective ZEC/USDC PERP
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 | 1,451.5 | +0.117% | $173K | $1.7M | 50x | as long as short |
| Katana Perps ZEC-USD | +0.0100% | 8h | 1,450.9 | +0.072% | $11K | $874K | 10x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,451.4 | +0.113% | $60K | $43K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,451.4 | +0.110% | $2.5M | $6.3M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,452.3 | +0.172% | $755.2M | $434.6M | 10x | as long as short |
| Aster ZECUSDT | +0.0100% | 8h | 1,451.3 | +0.103% | $14.4M | $27.7M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,451.3 | +0.105% | $1.6M | $2.4M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,451.9 | +0.147% | $666.4M | $2.22B | 75x | as long as short |
| Bybit ZECUSDT | +0.0100% | 8h | 1,451.9 | +0.143% | $261.6M | $602.4M | 75x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0100% | 8h | 1,452.5 | +0.188% | $177.2M | $1.22B | 50x | as long as short |
| Ondo Perps ZEC-USD.P | +0.0100% | 1h | 1,448.7 | −0.076% | $394K | $444K | 5x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,450.7 | +0.061% | $875K | $29K | 10x | as long as short |
| Gate ZEC_USDT | +0.0100% | 8h | 1,451.8 | +0.137% | $49.9M | $172.8M | 75x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,451.8 | +0.135% | $216.1M | $769.0M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,451.9 | +0.144% | $102.1M | $54.8M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,452.3 | +0.170% | $164.9M | $274.0M | 75x | as long as short |
| BingX ZEC-USDT | +0.0100% | 8h | 1,451.8 | +0.138% | — | $101.1M | — | as long as short |
| Backpack ZEC_USDC_PERP | +0.0100% | 1h | 1,450.8 | +0.069% | $2.5M | $3.8M | 15x | as long as short |
| Variational Omni ZEC | +0.0100% | 8h | 1,447.3 | −0.170% | $47.4M | $32.8M | — | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,447.5 | −0.161% | $563K | $8.7M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,447.7 | −0.145% | $3.0M | $437K | 10x | as long as short |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,447.2 | −0.178% | $402K | $920K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,451.4 | +0.106% | $49K | $4.7M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,451.4 | +0.110% | $365K | $1.8M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,451.8 | +0.136% | $160K | $185K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,451 | +0.083% | $443K | $521K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,453.4 | +0.248% | $3K | $1.1M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,449.9 | +0.006% | $232K | $3.4M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,449.7 | −0.006% | $2.6M | $18.2M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,449.5 | −0.019% | $3.8M | $5.1M | 50x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,451 | +0.084% | $2.8M | $7.7M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,451.8 | +0.140% | $47K | $151K | 20x | as long as short |
| Phoenix ZEC | +0.0123% | 1h | 1,448.9 | −0.062% | $4.6M | $1.3M | 10x | as long as short |
| Kraken Futures PF_ZECUSDlong | +0.0278% | 1h | 1,449.8 | long leg | $18.0M | $44.9M | 25x | |
| Deribit ZEC_USDC-PERPETUAL | +0.0338% | 1h | 1,450.8 | +0.069% | $609K | $1.3M | 25x | as long as short |
| Lighter ZEC | +0.0352% | 1h | 1,452.6 | +0.192% | $19.1M | $45.9M | 20x | as long as short |
| RISEx ZEC/USDC | +0.0412% | 1h | 1,451.6 | +0.121% | $921K | $1.1M | 10x | as long as short |
| Lighter RH ZEC | +0.0440% | 1h | 1,452.6 | +0.189% | $2.0M | $6.9M | 10x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0448% | 1h | 1,452.4 | +0.177% | $3.8M | $9.0M | 50x | as long as short |
| Arcus ZEC-USD | +0.0626% | 1h | 1,450.8 | +0.067% | $738K | $8.3M | 10x | as long as short |
| Aftermath Perps ZECUSD | +0.0667% | 1h | 1,449.8 | 0.000% | $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
Deribit ZEC_USDC-PERPETUAL
Lighter ZEC
RISEx ZEC/USDC
Lighter RH ZEC
Coinbase International ZEC-PERP-INTX
Arcus ZEC-USD
Aftermath Perps ZECUSD