ZEC

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.4173%/8h= −456.9% APRnext payment −$5.22 per $10,000 · paid last 24h −0.866%

Price spread now: Injective against Deribit−1.567%7-day average −0.040% · you buy dearer than you sell

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

Long on Deribit Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−2.481%−$248 on $10k

Price spread, last 4 days (all we have)+1.793%+$179 · spread now −1.567%, 7d avg −0.040%

Together, before fees−0.688%−$69 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$125 a day on $10k at the current rate, and Injective is 1.526% cheaper against Deribit than usual: you would sell low and buy high (−$153 if the spread goes back to its 7-day average of −0.040%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -2.481% in total (about -129.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$5.22 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit ZEC_USDC-PERPETUAL	1,503.5	0.0043	pay 0.0005% / 1h	54m 42s	$685K	$1.3M	25x
Short	Injective ZEC/USDC PERP	1,480	−0.4130	pay 0.0516% / 1h	54m 42s	$36K	$267K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Deribit. 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 DeribitbpFee InjectivebpOrdersPrice spread, now −1.567%Rate

Funding earned: −$876.28
Price spread: −1.567% → −0.040%: −$152.63
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$1,035.93
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Deribit: live order book, 2 min ago; Injective: live order book, 57 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 Deribit live order book, 2 min ago	4.11 bp	7.6 bp −$8	16.2 bp −$162	doesn't fit	doesn't fit
Sell Injective live order book, 57 min ago	56.04 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

ZEC on 50 exchanges

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	−0.4130%	1h	1,480	−1.567%	$36K	$267K	12x
BloFin ZEC-USDT	−0.0186%	8h	1,502.9	−0.042%	$31.8M	$72.9M	75x	as long as short
Aftermath Perps ZECUSD	−0.0094%	1h	1,504.4	+0.054%	$46K	$58K	10x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,503.6	+0.004%	$6K	$1K	10x	as long as short
Ondo Perps ZEC-USD.P	−0.0068%	1h	1,500.9	−0.175%	$409K	$498K	5x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,502.7	−0.058%	$414K	$37K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,504.4	+0.059%	$1.5M	$4.9M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,502.8	−0.051%	$63K	$300K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,505.1	+0.103%	$5.4M	—	150x	as long as short
01 Exchange ZECUSD	+0.0024%	1h	1,503.4	−0.007%	$8K	$6K	5x	as long as short

Show all 50 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx ZEC/USDC	+0.0032%	1h	1,502.8	−0.050%	$909K	$1.3M	10x	as long as short
Deribit ZEC_USDC-PERPETUALlong	+0.0043%	1h	1,503.5	long leg	$685K	$1.3M	25x
Orderly PERP_ZEC_USDC	+0.0071%	8h	1,502.4	−0.078%	$303K	$856K	20x	as long as short
Aster ZECUSDT	+0.0095%	8h	1,502.8	−0.050%	$14.1M	$26.9M	75x	as long as short
Lighter ZEC	+0.0096%	1h	1,503.9	+0.026%	$19.9M	$38.9M	20x	as long as short
Lighter RH ZEC	+0.0096%	1h	1,504.5	+0.065%	$2.1M	$7.0M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,503.4	−0.009%	$169K	$1.5M	50x	as long as short
Katana Perps ZEC-USD	+0.0097%	8h	1,502.6	−0.066%	$25K	$880K	10x	as long as short
Kraken Futures PF_ZECUSD	+0.0099%	1h	1,503.2	−0.022%	$18.5M	$46.2M	25x	as long as short
Paradex ZEC-USD-PERP	+0.0099%	8h	1,502.9	−0.044%	$62K	$14K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,503.9	+0.025%	$3.1M	$7.1M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,503.6	+0.004%	$789.2M	$429.3M	10x	as long as short
Pacifica ZEC	+0.0100%	1h	1,503.6	+0.004%	$1.7M	$1.9M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,503.1	−0.029%	$707.6M	$2.19B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,503.1	−0.030%	$276.0M	$588.4M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,503	−0.033%	$185.8M	$1.30B	50x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,503.7	+0.011%	$594K	$8.4M	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,502.8	−0.052%	$62.8M	$171.6M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,503.1	−0.029%	$177.9M	$823.0M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,503.1	−0.031%	$105.3M	$53.0M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,503	−0.036%	$164.2M	$279.2M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,503.1	−0.031%	—	$122.6M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,503.2	−0.021%	$2.2M	$3.7M	15x	as long as short
Variational Omni ZEC	+0.0100%	8h	1,505.7	+0.144%	$49.5M	$34.0M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,504.6	+0.067%	$550K	$8.7M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,506.7	+0.212%	$3.1M	$599K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,504.2	+0.047%	$411K	$948K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,505.8	+0.150%	$112K	$4.5M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,503.1	−0.029%	$371K	$1.6M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,503.2	−0.023%	$167K	$188K	20x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,505.3	+0.117%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,502.7	−0.057%	$257K	$3.6M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,502.3	−0.080%	$2.6M	$20.5M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,503.9	+0.025%	$4.0M	$4.8M	50x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,505.5	+0.132%	$781K	$158K	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,503	−0.037%	$2.7M	$7.1M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,502.5	−0.068%	$37K	$163K	20x	as long as short
Phoenix ZEC	+0.0139%	1h	1,506.5	+0.195%	$4.8M	$1.3M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0185% / S −0.0196%	1h	1,503.2	−0.025%	$350K	—	100x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0352%	1h	1,504.7	+0.075%	$3.9M	$9.5M	50x	as long as short