ZEC

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0431%/8h= −47.2% APRnext payment −$0.54 per $10,000 · paid last 24h −0.029%

Price spread now: Kraken Futures against Deribit−0.056%7-day average −0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$400.399% of the position

Long on Deribit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.293%−$29 on $10k

Price spread, last 3 days (all we have)+0.022%+$2 · spread now −0.056%, 7d avg −0.034%

Together, before fees−0.271%−$27 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Kraken Futures is 0.021% cheaper against Deribit than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.034%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.293% in total (about -15.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.54 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	Deribit ZEC_USDC-PERPETUAL	1,475	0.0089	pay 0.0011% / 1h	50m 00s	$615K	$1.3M	25x
Short	Kraken Futures PF_ZECUSD	1,474.2	−0.0342	pay 0.0043% / 1h	50m 00s	$18.0M	$43.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Deribit. 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 DeribitbpFee Kraken FuturesbpOrdersPrice spread, now −0.056%Rate

Funding earned: −$90.55
Price spread: −0.056% → −0.034%: −$2.15
Slippage, 4 orders: −$22.93
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$132.63
Costs to cover: 0.399%
Break-even: never at this rate

Slippage from Deribit: 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 Deribit live order book, 4 min ago	5.76 bp	10.8 bp −$11	207.2 bp −$2,072	doesn't fit	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	+0.192%	$34K	$275K	12x	as long as short
Kraken Futures PF_ZECUSDshort	−0.0342%	1h	1,474.2	−0.056%	$18.0M	$43.5M	25x
Ondo Perps ZEC-USD.P	−0.0192%	1h	1,474.7	−0.021%	$400K	$517K	5x	as long as short
BloFin ZEC-USDT	−0.0104%	8h	1,473.4	−0.108%	$29.5M	$74.6M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,474.4	−0.040%	$6K	$2K	10x	as long as short
Bybit ZECUSDT	−0.0077%	8h	1,473.9	−0.076%	$275.1M	$646.0M	75x	as long as short
Variational Omni ZEC	−0.0061%	8h	1,473.2	−0.123%	$47.9M	$34.4M	—	as long as short
dYdX ZEC-USD	0.0000%	1h	1,475.6	+0.039%	$416K	$104K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,475.3	+0.017%	$960K	$5.6M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,474.4	−0.043%	$84K	$405K	10x	as long as short

Show 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	−0.007%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0015%	8h	1,474.2	−0.056%	$294K	$1.4M	20x	as long as short
OKX ZEC-USDT-SWAP	+0.0040%	8h	1,474.2	−0.055%	$181.9M	$1.33B	50x	as long as short
01 Exchange ZECUSD	+0.0048%	1h	1,476.1	+0.074%	$8K	$8K	5x	as long as short
Phoenix ZEC	+0.0054%	1h	1,477	+0.134%	$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	−0.024%	$379K	—	100x	as long as short
Gate ZEC_USDT	+0.0064%	8h	1,474.4	−0.039%	$51.5M	$178.1M	75x	as long as short
Deribit ZEC_USDC-PERPETUALlong	+0.0089%	1h	1,475	long leg	$615K	$1.3M	25x
Lighter ZEC	+0.0096%	1h	1,475.6	+0.044%	$19.2M	$50.2M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,475.6	+0.042%	$175K	$1.9M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,475.6	+0.038%	$13K	$850K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,475.6	+0.040%	$61K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,476.2	+0.083%	$2.6M	$6.7M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,475.7	+0.047%	$765.3M	$459.4M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,474.1	−0.060%	$15.0M	$32.2M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,475.8	+0.054%	$1.7M	$2.9M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,474.3	−0.045%	$684.7M	$2.43B	75x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,476.9	+0.128%	$692K	$8.5M	10x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,470.8	−0.289%	$895K	$33K	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,474.3	−0.045%	$232.3M	$821.9M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,474.5	−0.037%	$105.2M	$56.2M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,474.4	−0.041%	$163.9M	$298.8M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,473.1	−0.127%	—	$6.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,475.8	+0.055%	$575K	$9.2M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,477.2	+0.150%	$3.0M	$454K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,476.5	+0.103%	$432K	$858K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,474.3	−0.051%	$110K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,474.9	−0.007%	$334K	$1.9M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,474.6	−0.031%	$128K	$159K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,472.5	−0.171%	$459K	$509K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,477.8	+0.187%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,474	−0.068%	$243K	$4.3M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,473.5	−0.101%	$2.5M	$22.2M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,474.8	−0.014%	$3.9M	$5.4M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,474.5	−0.033%	$3.2M	$7.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,471.3	−0.252%	$82K	$250K	20x	as long as short
RISEx ZEC/USDC	+0.0228%	1h	1,476.5	+0.099%	$844K	$1.2M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0448%	1h	1,477	+0.132%	$3.8M	$10.5M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0645%	1h	1,475.1	+0.006%	$2.5M	$3.8M	15x	as long as short
Lighter RH ZEC	+0.0664%	1h	1,476.5	+0.103%	$2.0M	$8.0M	10x	as long as short
Aftermath Perps ZECUSD	+0.0784%	1h	1,475.5	+0.036%	$44K	$48K	10x	as long as short