Funding you earn now, next payment 23:00 UTC−0.0078%/8h= −8.6% APRnext payment −$0.10 per $10,000 · paid last 24h −0.002%
Price spread now: Nado against Backpack−0.101%7-day average −0.327% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs+$1as in the Price arb table
costs, in and out, $10k−$210.214% of the position
Funding, last 3 days (all we have)−0.037%−$4 on $10k
+Price spread, last 7 days+1.105%+$110 · spread now −0.101%, 7d avg −0.327%
=Together, before fees+1.067%+ Points / potential airdropNado: Active · farm board+$107 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Nado is 0.226% dearer against Backpack than usual: you sell high and buy low (spread −0.101% now, against its 7-day average of −0.327%): +$23 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 9.6 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack ZEC_USDC_PERP | 1,464.6 | 0.0178 | pay 0.0022% / 1h | 20m 36s | $2.3M | $3.8M | 15x |
| Short | Nado ZEC-PERP | 1,463.1 | 0.0100 | get 0.0012% / 1h | 20m 36s | $2.5M | $6.8M | 10x |
Backpack ZEC_USDC_PERP
Nado ZEC-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Nado against Backpack. 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
- −$16.42
- Price spread: −0.101% → −0.327%
- $22.57
- Slippage, 4 orders
- −$4.43
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Net
- −$15.28
- Costs to cover
- 0.214%
- Break-even
- from the start
Slippage from Backpack: live order book, 4 min ago; Nado: live order book, 3 min ago.
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 Backpack live order book, 4 min ago | 0.03 bp | 5.4 bp −$5 | 14.1 bp −$141 | doesn't fit | doesn't fit |
| Sell Nado live order book, 3 min ago | 0.14 bp | 4.4 bp −$4 | 11.9 bp −$119 | 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 PERP | −0.3310% | 1h | 1,465.9 | +0.089% | $34K | $275K | 12x | as long as short |
| Kraken Futures PF_ZECUSD | −0.0405% | 1h | 1,464 | −0.039% | $17.8M | $44.6M | 25x | as long as short |
| Ondo Perps ZEC-USD.P | −0.0234% | 1h | 1,464.3 | −0.018% | $397K | $514K | 5x | as long as short |
| BloFin ZEC-USDT | −0.0087% | 8h | 1,463.4 | −0.079% | $29.2M | $75.3M | 75x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,464.4 | −0.012% | $6K | $2K | 10x | as long as short |
| Bybit ZECUSDT | −0.0064% | 8h | 1,462.2 | −0.163% | $270.5M | $667.5M | 75x | as long as short |
| Variational Omni ZEC | −0.0026% | 8h | 1,465.3 | +0.052% | $46.6M | $33.5M | — | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,464.2 | −0.027% | $412K | $104K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,464 | −0.038% | $884K | $5.6M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,463.4 | −0.082% | $83K | $404K | 10x | as long as short |
Injective ZEC/USDC PERP
Kraken Futures PF_ZECUSD
Ondo Perps ZEC-USD.P
BloFin ZEC-USDT
Hotstuff ZEC-PERP
Bybit ZECUSDT
Variational Omni ZEC
dYdX ZEC-USD
Kalshi KXZECPERP
Perpl ZECShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,463.8 | −0.053% | $5.2M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0012% | 8h | 1,463.6 | −0.064% | $292K | $1.4M | 20x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0037% / S +0.0009% | 1h | 1,463.6 | −0.068% | $355K | — | 100x | as long as short |
| Gate ZEC_USDT | +0.0043% | 8h | 1,463.7 | −0.061% | $49.8M | $186.1M | 75x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0048% | 8h | 1,463.1 | −0.101% | $176.6M | $1.34B | 50x | as long as short |
| 01 Exchange ZECUSD | +0.0064% | 1h | 1,464 | −0.039% | $8K | $8K | 5x | as long as short |
| Phoenix ZEC | +0.0075% | 1h | 1,465 | +0.029% | $4.6M | $1.6M | 10x | as long as short |
| ApeX Omni ZECUSDT | +0.0082% | 1h | 1,467.6 | +0.206% | $431K | $822K | 50x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,463.1 | −0.100% | $173K | $1.9M | 50x | as long as short |
| Katana Perps ZEC-USD | +0.0096% | 8h | 1,464.1 | −0.029% | $14K | $832K | 10x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,463.8 | −0.052% | $60K | $39K | 10x | as long as short |
| Nado ZEC-PERPshort | +0.0100% | 1h | 1,463.1 | −0.101% | $2.5M | $6.8M | 10x | |
| Hyperliquid ZEC | +0.0100% | 1h | 1,465.4 | +0.057% | $760.3M | $478.6M | 10x | as long as short |
| Aster ZECUSDT | +0.0100% | 8h | 1,463.7 | −0.057% | $15.6M | $32.7M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,464.7 | +0.007% | $1.7M | $3.0M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,463.3 | −0.089% | $674.1M | $2.48B | 75x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,463.9 | −0.043% | $903K | $27K | 10x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,463.9 | −0.048% | $221.8M | $866.0M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,464.1 | −0.033% | $103.6M | $55.8M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,463.6 | −0.066% | $162.3M | $304.5M | 75x | as long as short |
| BingX ZEC-USDC | +0.0100% | 8h | 1,462.4 | −0.147% | — | $6.7M | — | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,467.7 | +0.211% | $512K | $9.5M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,467.4 | +0.193% | $3.0M | $481K | 10x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,464.7 | +0.006% | $110K | $4.8M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,462.9 | −0.114% | $343K | $1.9M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,463.3 | −0.089% | $127K | $160K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,462.1 | −0.169% | $447K | $502K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,465.9 | +0.087% | $3K | $1.2M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,463.6 | −0.067% | $222K | $4.5M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,462.9 | −0.117% | $2.5M | $23.7M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,464.2 | −0.028% | $3.8M | $5.3M | 50x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,463.9 | −0.045% | $3.3M | $6.9M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,463.4 | −0.079% | $36K | $366K | 20x | as long as short |
| Deribit ZEC_USDC-PERPETUAL | +0.0108% | 1h | 1,464.4 | −0.010% | $596K | $1.3M | 25x | as long as short |
| Lighter ZEC | +0.0128% | 1h | 1,465.7 | +0.074% | $19.0M | $52.7M | 20x | as long as short |
| Backpack ZEC_USDC_PERPlong | +0.0178% | 1h | 1,464.6 | long leg | $2.3M | $3.8M | 15x | |
| RISEx ZEC/USDC | +0.0190% | 1h | 1,464.1 | −0.031% | $841K | $1.3M | 10x | as long as short |
| Lighter RH ZEC | +0.0392% | 1h | 1,466.1 | +0.102% | $2.0M | $8.3M | 10x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0424% | 1h | 1,465 | +0.030% | $3.7M | $11.5M | 50x | as long as short |
| Arcus ZEC-USD | +0.0444% | 1h | 1,465.1 | +0.035% | $729K | $8.2M | 10x | as long as short |
| Aftermath Perps ZECUSD | +0.0572% | 1h | 1,464.9 | +0.023% | $40K | $34K | 10x | as long as short |
gTrade (Gains Network) ZEC/USD
Orderly PERP_ZEC_USDC
GMX ZEC/USD [WBTC.b-USDC]
Gate ZEC_USDT
OKX ZEC-USDT-SWAP
01 Exchange ZECUSD
Phoenix ZEC
ApeX Omni ZECUSDT
Popdex ZECUSDT
Katana Perps ZEC-USD
Paradex ZEC-USD-PERP
Hyperliquid ZEC
Aster ZECUSDT
Pacifica ZEC
Binance ZECUSDT
Bulk ZEC-USD
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDC
edgeX ZECUSDC
GRVT ZEC_USDT_Perp
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
Deribit ZEC_USDC-PERPETUAL
Lighter ZEC
RISEx ZEC/USDC
Lighter RH ZEC
Coinbase International ZEC-PERP-INTX
Arcus ZEC-USD
Aftermath Perps ZECUSD