Funding you earn now, next payment 00:00 UTC−0.0790%/8h= −86.5% APRnext payment −$0.99 per $10,000 · paid last 24h −0.127%
Price spread now: Kraken Futures against Coinbase International−0.187%7-day average −0.092% · you buy dearer than you sell
Net, funding: paid 7d − costs−$78as in the Funding arb table
Net, price: spread back to 7d avg − costs−$56as in the Price arb table
costs, in and out, $10k−$460.464% of the position
Funding, last 7 days−0.318%−$32 on $10k
+Price spread, last 3 days (all we have)+0.060%+$6 · spread now −0.187%, 7d avg −0.092%
=Both sides work against this trade now: funding costs −$24 a day on $10k at the current rate, and Kraken Futures is 0.095% cheaper against Coinbase International than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.092%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.318% in total (about -16.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.99 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 | Coinbase International ZEC-PERP-INTX | 1,477 | 0.0448 | pay 0.0056% / 1h | 50m 19s | $3.8M | $10.5M | 50x |
| Short | Kraken Futures PF_ZECUSD | 1,474.2 | −0.0342 | pay 0.0043% / 1h | 50m 19s | $18.0M | $43.5M | 25x |
Coinbase International ZEC-PERP-INTX
Kraken Futures PF_ZECUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Coinbase International. 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
- −$165.86
- Price spread: −0.187% → −0.092%
- −$9.54
- Slippage, 4 orders
- −$26.42
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$221.82
- Costs to cover
- 0.464%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 4 min ago; Kraken Futures: live order book, 4 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 Coinbase International live order book, 4 min ago | 2.03 bp | 14.0 bp −$14 | 16.0 bp −$160 | 40.6 bp −$4,061 | doesn't fit |
| Sell Kraken Futures live order book, 4 min ago | 1.29 bp | 9.5 bp −$10 | 12.3 bp −$123 | 20.8 bp −$2,077 | 102.3 bp −$51.1K |
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 | −0.3321% | 1h | 1,477.8 | +0.060% | $34K | $275K | 12x | as long as short |
| Kraken Futures PF_ZECUSDshort | −0.0342% | 1h | 1,474.2 | −0.187% | $18.0M | $43.5M | 25x | |
| Ondo Perps ZEC-USD.P | −0.0192% | 1h | 1,474.7 | −0.152% | $400K | $517K | 5x | as long as short |
| BloFin ZEC-USDT | −0.0104% | 8h | 1,473.4 | −0.239% | $29.5M | $74.6M | 75x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,474.4 | −0.172% | $6K | $2K | 10x | as long as short |
| Bybit ZECUSDT | −0.0077% | 8h | 1,473.8 | −0.211% | $275.0M | $645.9M | 75x | as long as short |
| Variational Omni ZEC | −0.0061% | 8h | 1,473.2 | −0.254% | $47.9M | $34.4M | — | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,475.6 | −0.093% | $416K | $104K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,474.4 | −0.171% | $960K | $5.6M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,474.4 | −0.175% | $84K | $405K | 10x | as long as short |
Injective ZEC/USDC PERP
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 | 1,474.9 | −0.138% | $5.2M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0015% | 8h | 1,474.2 | −0.188% | $294K | $1.4M | 20x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0040% | 8h | 1,474 | −0.199% | $182.1M | $1.33B | 50x | as long as short |
| 01 Exchange ZECUSD | +0.0048% | 1h | 1,476.1 | −0.058% | $8K | $8K | 5x | as long as short |
| Phoenix ZEC | +0.0054% | 1h | 1,477 | +0.003% | $4.7M | $1.6M | 10x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0055% / S −0.0010% | 1h | 1,474.7 | −0.156% | $379K | — | 100x | as long as short |
| Gate ZEC_USDT | +0.0064% | 8h | 1,474.9 | −0.140% | $51.5M | $178.1M | 75x | as long as short |
| Deribit ZEC_USDC-PERPETUAL | +0.0089% | 1h | 1,475 | −0.132% | $615K | $1.3M | 25x | as long as short |
| Lighter ZEC | +0.0096% | 1h | 1,476.8 | −0.013% | $19.2M | $50.2M | 20x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,475.6 | −0.089% | $175K | $1.9M | 50x | as long as short |
| Katana Perps ZEC-USD | +0.0100% | 8h | 1,475.6 | −0.093% | $13K | $850K | 10x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,475.6 | −0.092% | $61K | $39K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,476.2 | −0.048% | $2.6M | $6.7M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,476.5 | −0.030% | $765.7M | $459.4M | 10x | as long as short |
| Aster ZECUSDT | +0.0100% | 8h | 1,475.5 | −0.099% | $15.0M | $32.2M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,475.8 | −0.077% | $1.7M | $2.9M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,474.9 | −0.140% | $684.9M | $2.43B | 75x | as long as short |
| Arcus ZEC-USD | +0.0100% | 1h | 1,476.9 | −0.004% | $692K | $8.5M | 10x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,470.8 | −0.420% | $895K | $33K | 10x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,475.3 | −0.112% | $232.4M | $821.8M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,476.2 | −0.049% | $105.3M | $56.5M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,474.2 | −0.188% | $163.9M | $298.8M | 75x | as long as short |
| BingX ZEC-USDT | +0.0100% | 8h | 1,474.8 | −0.146% | — | $101.7M | — | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,475.8 | −0.076% | $575K | $9.2M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,477.2 | +0.018% | $3.0M | $454K | 10x | as long as short |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,476.5 | −0.028% | $432K | $858K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,474.3 | −0.182% | $110K | $4.8M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,474.9 | −0.139% | $334K | $1.9M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,474.6 | −0.162% | $128K | $159K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,472.5 | −0.302% | $459K | $509K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,477.8 | +0.056% | $3K | $1.2M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,474 | −0.199% | $243K | $4.3M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,473.5 | −0.233% | $2.5M | $22.2M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,474.3 | −0.180% | $3.9M | $5.4M | 50x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,474.3 | −0.182% | $3.2M | $7.0M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,471.3 | −0.383% | $82K | $250K | 20x | as long as short |
| RISEx ZEC/USDC | +0.0228% | 1h | 1,476.5 | −0.033% | $844K | $1.2M | 10x | as long as short |
| Coinbase International ZEC-PERP-INTXlong | +0.0448% | 1h | 1,477 | long leg | $3.8M | $10.5M | 50x | |
| Backpack ZEC_USDC_PERP | +0.0654% | 1h | 1,475 | −0.135% | $2.5M | $3.8M | 15x | as long as short |
| Lighter RH ZEC | +0.0664% | 1h | 1,476.9 | −0.005% | $2.0M | $8.0M | 10x | as long as short |
| Aftermath Perps ZECUSD | +0.0784% | 1h | 1,475.5 | −0.095% | $44K | $48K | 10x | as long as short |
gTrade (Gains Network) ZEC/USD
Orderly PERP_ZEC_USDC
OKX ZEC-USDT-SWAP
01 Exchange ZECUSD
Phoenix ZEC
GMX ZEC/USD [WBTC.b-USDC]
Gate ZEC_USDT
Deribit ZEC_USDC-PERPETUAL
Lighter ZEC
Popdex ZECUSDT
Katana Perps ZEC-USD
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Hyperliquid ZEC
Aster ZECUSDT
Pacifica ZEC
Binance ZECUSDT
Arcus ZEC-USD
Bulk ZEC-USD
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDT
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
RISEx ZEC/USDC
Backpack ZEC_USDC_PERP
Lighter RH ZEC
Aftermath Perps ZECUSD