ZEC

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0460%/8h= −50.4% APRnext payment −$0.58 per $10,000 · paid last 24h −0.023%

Price spread now: SoDEX against Backpack−0.025%50s7-day average +0.005% · 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—prices read too far apart to compare

costs, in and out, $10k−$200.198% of the position

Long on Backpack Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.073%−$7 on $10k

Price spread, last 3 days (all we have)+0.188%+$19 · spread now −0.025%, 7d avg +0.005%

Together, before fees+0.115%+$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and SoDEX is 0.030% cheaper against Backpack than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.005%). Swap the legs. The two prices were read 50 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 -0.073% in total (about -8.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.58 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	Backpack ZEC_USDC_PERP	1,472.7	0.0560	pay 0.0070% / 1h	44m 18s	$2.5M	$3.9M	15x
Short	SoDEX ZEC-USD	1,472.3	0.0100	get 0.0013% / 1h	44m 18s	$243K	$3.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against Backpack. 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 BackpackbpFee SoDEXbpOrdersPrice spread, now −0.025%Rate

Funding earned: −$96.65
Price spread: −0.025% → +0.005%: −$3.01
Slippage, 4 orders: −$1.81
Fee Backpack: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$119.46
Costs to cover: 0.198%
Break-even: never at this rate

Slippage from Backpack: live order book, 5 min ago; SoDEX: live order book, 5 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, 5 min ago	0.03 bp	5.7 bp −$6	17.7 bp −$177	doesn't fit	doesn't fit
Sell SoDEX live order book, 5 min ago	0.17 bp	4.3 bp −$4	14.3 bp −$143	105.5 bp −$10.5K	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	−0.3678%	1h	1,475.7	+0.207%	$34K	$274K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,472.4	−0.018%	$6K	$1K	10x	as long as short
Ondo Perps ZEC-USD.P	−0.0063%	1h	1,473	+0.021%	$400K	$517K	5x	as long as short
Kraken Futures PF_ZECUSD	−0.0002%	1h	1,472.4	−0.020%	$18.0M	$43.4M	25x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,471.5	−0.078%	$414K	$103K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,471.8	−0.060%	$958K	$5.0M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,471.7	−0.069%	$84K	$264K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,472.4	−0.020%	$5.2M	—	150x	as long as short
BloFin ZEC-USDT	+0.0012%	8h	1,475.2	+0.170%	$29.6M	$73.3M	75x	as long as short
Variational Omni ZEC	+0.0016%	8h	1,474	+0.089%	$48.1M	$33.4M	—	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_ZEC_USDC	+0.0026%	8h	1,472	−0.044%	$294K	$1.1M	20x	as long as short
01 Exchange ZECUSD	+0.0032%	1h	1,472	−0.048%	$8K	$9K	5x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0055% / S −0.0010%	1h	1,472.2	−0.036%	$383K	—	100x	as long as short
Phoenix ZEC	+0.0070%	1h	1,473.7	+0.069%	$4.7M	$1.5M	10x	as long as short
OKX ZEC-USDT-SWAP	+0.0080%	8h	1,472.3	−0.026%	$181.3M	$1.28B	50x	as long as short
Gate ZEC_USDT	+0.0081%	8h	1,472.2	−0.034%	$50.1M	$174.3M	75x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,471.8	−0.059%	$173K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,471.8	−0.062%	$14K	$832K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,471.8	−0.061%	$61K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,472.1	−0.040%	$2.6M	$6.5M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,472.8	+0.004%	$766.5M	$450.0M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,472	−0.048%	$14.9M	$31.0M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,472.6	−0.004%	$1.7M	$2.7M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,472.5	−0.016%	$682.8M	$2.34B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,472.2	−0.031%	$271.9M	$626.8M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,472	−0.049%	$218.4M	$793.2M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,472.2	−0.037%	$103.6M	$56.0M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,472.6	−0.004%	$163.3M	$286.3M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,471.8	−0.062%	—	$6.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,474.3	+0.109%	$574K	$9.1M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,476	+0.222%	$3.0M	$443K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,474.5	+0.123%	$429K	$905K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,472.9	+0.011%	$71K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,471.6	−0.074%	$341K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,471.8	−0.061%	$128K	$158K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,470.9	−0.124%	$458K	$510K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,474.5	+0.120%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USDshort	+0.0100%	1h	1,472.3	−0.025%	$243K	$3.8M	10x
HTX ZEC-USDT	+0.0100%	8h	1,473.7	+0.071%	$2.5M	$19.2M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,473	+0.018%	$3.8M	$5.3M	50x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,474.6	+0.133%	$897K	$17K	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,472.6	−0.009%	$3.2M	$7.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,471.9	−0.057%	$51K	$164K	20x	as long as short
Lighter RH ZEC	+0.0216%	1h	1,474.1	+0.097%	$2.1M	$7.0M	10x	as long as short
Arcus ZEC-USD	+0.0254%	1h	1,473.4	+0.049%	$684K	$8.7M	10x	as long as short
Lighter ZEC	+0.0304%	1h	1,474	+0.087%	$19.2M	$48.0M	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0321%	1h	1,473.1	+0.030%	$606K	$1.3M	25x	as long as short
RISEx ZEC/USDC	+0.0374%	1h	1,472.3	−0.028%	$855K	$1.0M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0472%	1h	1,474.6	+0.130%	$3.7M	$9.7M	50x	as long as short
Backpack ZEC_USDC_PERPlong	+0.0560%	1h	1,472.7	long leg	$2.5M	$3.9M	15x
Aftermath Perps ZECUSD	+0.0735%	1h	1,474.1	+0.093%	$44K	$46K	10x	as long as short