Funding you earn now, next payment 00:00 UTC+0.0403%/8h= +44.1% APRnext payment +$0.50 per $10,000 · paid last 24h +0.009%
Price spread now: Backpack against Derive+0.166%7-day average +0.063% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.347%−$35 on $10k
+Price spread, last 3 days (all we have)−0.582%−$58 · spread now +0.166%, 7d avg +0.063%
=Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Backpack is 0.103% dearer against Derive than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.063%. Mind the row above: over the last 7 days funding on this pair cost −0.347%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Derive ZEC-PERP | 1,470.9 | 0.0100 | pay 0.0013% / 1h | 51m 36s | $448K | $503K | 6.7x |
| Short | Backpack ZEC_USDC_PERP | 1,473.4 | 0.0503 | get 0.0063% / 1h | 51m 36s | $2.4M | $3.7M | 15x |
Derive ZEC-PERP
Backpack ZEC_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Derive. 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
- $84.61
- Price spread: +0.166% → +0.063%
- $10.27
- Slippage, 4 orders
- no order book: not counted
- Fee Derive: 3 bp × 2 orders
- −$6
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $78.87
- Costs to cover
- 0.160%
- Break-even
- 0.5 days
Slippage unknown: Derive: no order-book sample; Backpack: live order book, 2 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 Derive no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 2 min ago | 0.03 bp | 7.0 bp −$7 | 16.1 bp −$161 | doesn't fit | doesn't fit |
Derive: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.3089% | 1h | 1,475.9 | +0.334% | $34K | $275K | 12x | as long as short |
| ApeX Omni ZECUSDT | −0.0365% | 1h | 1,474 | +0.209% | $432K | $827K | 50x | as long as short |
| Ondo Perps ZEC-USD.P | −0.0311% | 1h | 1,471.3 | +0.024% | $399K | $516K | 5x | as long as short |
| Kraken Futures PF_ZECUSD | −0.0225% | 1h | 1,472.5 | +0.107% | $17.9M | $44.6M | 25x | as long as short |
| BloFin ZEC-USDT | −0.0111% | 8h | 1,474.5 | +0.242% | $29.5M | $75.7M | 75x | as long as short |
| Bybit ZECUSDT | −0.0088% | 8h | 1,471.8 | +0.059% | $273.3M | $661.2M | 75x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,472.7 | +0.116% | $6K | $2K | 10x | as long as short |
| Variational Omni ZEC | −0.0037% | 8h | 1,473.4 | +0.168% | $47.0M | $33.5M | — | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,473.7 | +0.190% | $415K | $104K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,474.1 | +0.214% | $901K | $5.6M | 2.2x | as long as short |
Injective ZEC/USDC PERP
ApeX Omni ZECUSDT
Ondo Perps ZEC-USD.P
Kraken Futures PF_ZECUSD
BloFin ZEC-USDT
Bybit ZECUSDT
Hotstuff ZEC-PERP
Variational Omni ZEC
dYdX ZEC-USD
Kalshi KXZECPERPShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Perpl ZEC | 0.0000% | 43m | 1,473.3 | +0.161% | $84K | $404K | 10x | as long as short |
| Deribit ZEC_USDC-PERPETUAL | 0.0000% | 1h | 1,473.4 | +0.166% | $615K | $1.3M | 25x | as long as short |
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,473.3 | +0.161% | $5.2M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0010% | 8h | 1,472.6 | +0.112% | $294K | $1.4M | 20x | as long as short |
| Phoenix ZEC | +0.0024% | 1h | 1,475.6 | +0.317% | $4.7M | $1.6M | 10x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0038% / S +0.0009% | 1h | 1,473.1 | +0.149% | $366K | — | 100x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0039% | 8h | 1,472.4 | +0.099% | $180.4M | $1.35B | 50x | as long as short |
| 01 Exchange ZECUSD | +0.0040% | 1h | 1,472.9 | +0.135% | $8K | $8K | 5x | as long as short |
| Gate ZEC_USDT | +0.0044% | 8h | 1,472.5 | +0.108% | $50.6M | $184.1M | 75x | as long as short |
| SoDEX ZEC-USD | +0.0068% | 1h | 1,472.3 | +0.089% | $226K | $4.5M | 10x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,472.6 | +0.112% | $176K | $1.9M | 50x | as long as short |
| Katana Perps ZEC-USD | +0.0097% | 8h | 1,473.5 | +0.174% | $12K | $828K | 10x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,472.7 | +0.118% | $61K | $39K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,474.3 | +0.229% | $2.6M | $6.8M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,474.2 | +0.221% | $765.0M | $473.6M | 10x | as long as short |
| Aster ZECUSDT | +0.0100% | 8h | 1,472.8 | +0.122% | $15.5M | $32.7M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,473.2 | +0.152% | $1.7M | $2.9M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,472.6 | +0.114% | $681.3M | $2.46B | 75x | as long as short |
| Arcus ZEC-USD | +0.0100% | 1h | 1,473.9 | +0.199% | $717K | $8.3M | 10x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,471.1 | +0.012% | $908K | $26K | 10x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,472.6 | +0.115% | $221.9M | $830.3M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,472.8 | +0.126% | $104.1M | $55.8M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,472.7 | +0.116% | $162.7M | $302.9M | 75x | as long as short |
| BingX ZEC-USDC | +0.0100% | 8h | 1,472.7 | +0.116% | — | $6.7M | — | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,474.3 | +0.228% | $513K | $9.3M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,475.5 | +0.311% | $3.0M | $466K | 10x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,475.5 | +0.312% | $110K | $4.8M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,473.1 | +0.146% | $347K | $1.8M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,472.9 | +0.130% | $128K | $159K | 20x | as long as short |
| Derive ZEC-PERPlong | +0.0100% | 1h | 1,470.9 | long leg | $448K | $503K | 6.7x | |
| SunX ZEC-USDT | +0.0100% | 8h | 1,474.8 | +0.263% | $3K | $1.2M | 20x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,473.2 | +0.152% | $2.5M | $23.2M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,473.1 | +0.148% | $3.9M | $5.3M | 50x | as long as short |
| Lighter ZEC | +0.0104% | 1h | 1,474.4 | +0.236% | $19.1M | $52.1M | 20x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,473.1 | +0.147% | $3.3M | $6.9M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,472.3 | +0.089% | $37K | $366K | 20x | as long as short |
| RISEx ZEC/USDC | +0.0132% | 1h | 1,473.2 | +0.155% | $835K | $1.2M | 10x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0432% | 1h | 1,474.4 | +0.235% | $3.8M | $11.0M | 50x | as long as short |
| Backpack ZEC_USDC_PERPshort | +0.0503% | 1h | 1,473.4 | +0.166% | $2.4M | $3.7M | 15x | |
| Lighter RH ZEC | +0.0512% | 1h | 1,475.1 | +0.281% | $2.0M | $8.2M | 10x | as long as short |
| Aftermath Perps ZECUSD | +0.0632% | 1h | 1,474.4 | +0.237% | $46K | $47K | 10x | as long as short |
Perpl ZEC
Deribit ZEC_USDC-PERPETUAL
gTrade (Gains Network) ZEC/USD
Orderly PERP_ZEC_USDC
Phoenix ZEC
GMX ZEC/USD [WBTC.b-USDC]
OKX ZEC-USDT-SWAP
01 Exchange ZECUSD
Gate ZEC_USDT
SoDEX ZEC-USD
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-USDC
edgeX ZECUSDC
GRVT ZEC_USDT_Perp
StandX ZEC-USD
Polymarket Perps ZEC-USD
Bullet ZEC-USD
SunX ZEC-USDT
HTX ZEC-USDT
Phemex ZECUSDT
Lighter ZEC
Extended ZEC-USD
Aevo ZEC-PERP
RISEx ZEC/USDC
Coinbase International ZEC-PERP-INTX
Lighter RH ZEC
Aftermath Perps ZECUSD