ZEC

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.3375%/8h= −369.6% APRnext payment −$4.22 per $10,000 · paid last 24h −0.560%

Price spread now: Injective against Kraken Futures+0.122%63s7-day average +0.034% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Kraken Futures Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−2.067%−$207 on $10k

Price spread, last 4 days (all we have)+0.147%+$15 · spread now +0.122%, 7d avg +0.034%

Together, before fees−1.920%−$192 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 0.087% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.122% now, against its 7-day average of +0.034%): +$9 on $10k if it goes back. Holding the pair costs −$101 a day in funding at the current rate, which eats that in about 2 hours. At the pace of the last 7 days (−2.067% in total) that is about 7 hours. The two prices were read 63 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 7 days it paid -2.067% in total (about -107.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$4.22 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	1,454.4	0.0333	pay 0.0042% / 1h	55m 38s	$18.0M	$45.2M	25x
Short	Injective ZEC/USDC PERP	1,456.2	−0.3042	pay 0.0380% / 1h	55m 38s	$34K	$272K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Kraken Futures. 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

Position, each leg$Hold fordaysFee Kraken FuturesbpFee InjectivebpOrdersPrice spread, now +0.122%Rate

Funding earned: −$708.75
Price spread: +0.122% → +0.034%: $8.71
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$710.06
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 4 min ago; Injective: live order book, 63 min ago. 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, 4 min ago	1.92 bp	10.3 bp −$10	14.3 bp −$143	22.7 bp −$2,267	98.0 bp −$49.0K
Sell Injective live order book, 63 min ago	48.95 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

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 PERPshort	−0.3042%	1h	1,456.2	+0.122%	$34K	$272K	12x
Hotstuff ZEC-PERP	−0.0080%	1h	1,454.7	+0.019%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0070%	8h	1,454.6	+0.012%	$29.5M	$70.7M	75x	as long as short
ApeX Omni ZECUSDT	−0.0032%	1h	1,454.7	+0.020%	$404K	$942K	50x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,454.4	+0.002%	$410K	$37K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,456.4	+0.141%	$1.5M	$4.5M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,453.7	−0.045%	$83K	$240K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,454.8	+0.025%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0063%	8h	1,454.8	+0.026%	$291K	$952K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0072% / S −0.0024%	1h	1,454.6	+0.018%	$408K	—	100x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex ZECUSDT	+0.0096%	1h	1,454.7	+0.025%	$173K	$1.7M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,455	+0.045%	$10K	$858K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,454.6	+0.012%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,455.1	+0.050%	$2.8M	$6.6M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,454.4	+0.002%	$14.7M	$27.9M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,454.6	+0.015%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,454.8	+0.029%	$668.3M	$2.21B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,454	−0.024%	$261.0M	$601.3M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,454.6	+0.015%	$177.7M	$1.22B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,458	+0.249%	$395K	$442K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,457.5	+0.217%	$880K	$18K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,454.4	−0.001%	$50.5M	$170.0M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,454.5	+0.009%	$214.7M	$763.9M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,454.7	+0.023%	$102.6M	$53.9M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,454.7	+0.021%	$165.4M	$270.8M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,454.7	+0.019%	—	$105.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,454	−0.025%	$47.7M	$32.6M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,454.8	+0.029%	$566K	$8.5M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,455.1	+0.050%	$3.0M	$451K	10x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,454.5	+0.005%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,454.9	+0.036%	$353K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,454.7	+0.021%	$160K	$185K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,453.6	−0.052%	$444K	$521K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,456.5	+0.142%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,454.4	+0.002%	$233K	$3.4M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,454.2	−0.011%	$2.7M	$18.4M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,455	+0.043%	$3.8M	$5.1M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,454.3	−0.008%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,454.6	+0.012%	$47K	$151K	20x	as long as short
01 Exchange ZECUSD	+0.0112%	1h	1,455	+0.045%	$8K	$7K	5x	as long as short
Phoenix ZEC	+0.0123%	1h	1,457.7	+0.226%	$4.6M	$1.3M	10x	as long as short
Hyperliquid ZEC	+0.0136%	1h	1,455.5	+0.077%	$757.1M	$431.8M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0154%	1h	1,454.7	+0.022%	$2.4M	$3.9M	15x	as long as short
Lighter ZEC	+0.0168%	1h	1,455.9	+0.102%	$19.2M	$44.7M	20x	as long as short
Lighter RH ZEC	+0.0192%	1h	1,455.5	+0.078%	$2.1M	$7.0M	10x	as long as short
RISEx ZEC/USDC	+0.0216%	1h	1,454.6	+0.015%	$921K	$1.1M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0253%	1h	1,455.5	+0.078%	$614K	$1.3M	25x	as long as short
Kraken Futures PF_ZECUSDlong	+0.0333%	1h	1,454.4	long leg	$18.0M	$45.2M	25x
Arcus ZEC-USD	+0.0344%	1h	1,456.8	+0.169%	$684K	$8.2M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0464%	1h	1,456.6	+0.152%	$3.7M	$9.1M	50x	as long as short
Aftermath Perps ZECUSD	+0.0673%	1h	1,457	+0.179%	$45K	$49K	10x	as long as short