Funding you earn now, next payment 22:00 UTC+0.0088%/8h= +9.6% APRnext payment +$0.11 per $10,000 · paid last 24h −0.004%
Price spread now: Derive against GMX−0.113%7-day average −0.071% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)+0.060%+$6 on $10k
+Price spread, last 3 days (all we have)+0.293%+$29 · spread now −0.113%, 7d avg −0.071%
=Funding pays, the price is against you. Derive is 0.042% cheaper against GMX than usual: you would sell low and buy high (spread −0.113% now, against its 7-day average of −0.071%). If the spread goes back, that is −$4 on $10k: about 38 hours of funding at the current rate (+$3 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GMX ZEC/USD [WBTC.b-USDC] | 1,462.9 | L +0.0012% / S +0.0077% | pay 0.0001% / 1h | 0m 13s | $559K | — | 100x |
| Short | Derive ZEC-PERP | 1,461.2 | 0.0100 | get 0.0013% / 1h | 0m 13s | $446K | $498K | 6.7x |
GMX ZEC/USD [WBTC.b-USDC]
Derive ZEC-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Derive against GMX. 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
- $18.5
- Price spread: −0.113% → −0.071%
- −$4.16
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Derive: 3 bp × 2 orders
- −$6
- Net
- −$3.66
- Costs to cover
- 0.180%
- Break-even
- 8.4 days
Slippage unknown: GMX: no order-book sample; Derive: no order-book sample. 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 GMX no order-book sample | — | — | — | — | — |
| Sell Derive no order-book sample | — | — | — | — | — |
GMX and 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 | −0.3476% | 1h | 1,446.2 | −1.145% | $33K | $275K | 12x | as long as short |
| BloFin ZEC-USDT | −0.0087% | 8h | 1,462.2 | −0.051% | $29.0M | $75.6M | 75x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,462.4 | −0.033% | $6K | $2K | 10x | as long as short |
| Kraken Futures PF_ZECUSD | −0.0071% | 1h | 1,462.6 | −0.018% | $17.8M | $44.9M | 25x | as long as short |
| Bybit ZECUSDT | −0.0040% | 8h | 1,462 | −0.064% | $269.9M | $679.8M | 75x | as long as short |
| Variational Omni ZEC | −0.0018% | 8h | 1,461.1 | −0.120% | $46.6M | $34.3M | — | as long as short |
| Ondo Perps ZEC-USD.P | −0.0008% | 1h | 1,460.7 | −0.150% | $396K | $516K | 5x | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,462.1 | −0.057% | $412K | $106K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,462.9 | −0.003% | $937K | $5.6M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,462.6 | −0.018% | $83K | $401K | 10x | as long as short |
Injective ZEC/USDC PERP
BloFin ZEC-USDT
Hotstuff ZEC-PERP
Kraken Futures PF_ZECUSD
Bybit ZECUSDT
Variational Omni ZEC
Ondo Perps ZEC-USD.P
dYdX ZEC-USD
Kalshi KXZECPERP
Perpl ZECShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit ZEC_USDC-PERPETUAL | 0.0000% | 1h | 1,463.4 | +0.034% | $595K | $1.3M | 25x | as long as short |
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,463 | +0.008% | $5.2M | — | 150x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC]long | L +0.0012% / S +0.0077% | 1h | 1,462.9 | long leg | $559K | — | 100x | |
| Orderly PERP_ZEC_USDC | +0.0014% | 8h | 1,462.6 | −0.019% | $293K | $1.5M | 20x | as long as short |
| 01 Exchange ZECUSD | +0.0040% | 1h | 1,462.8 | −0.007% | $8K | $8K | 5x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0055% | 8h | 1,462.7 | −0.017% | $175.1M | $1.37B | 50x | as long as short |
| Gate ZEC_USDT | +0.0058% | 8h | 1,462.5 | −0.027% | $50.0M | $191.9M | 75x | as long as short |
| Katana Perps ZEC-USD | +0.0095% | 8h | 1,462.5 | −0.027% | $13K | $862K | 10x | as long as short |
| Lighter ZEC | +0.0096% | 1h | 1,464.2 | +0.091% | $18.9M | $54.8M | 20x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,462.5 | −0.030% | $173K | $2.0M | 50x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,462.2 | −0.049% | $60K | $39K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,463.1 | +0.011% | $2.5M | $7.1M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,463.5 | +0.041% | $758.9M | $495.3M | 10x | as long as short |
| Aster ZECUSDT | +0.0100% | 8h | 1,462.7 | −0.014% | $15.4M | $33.8M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,462.7 | −0.012% | $1.6M | $3.0M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,462.6 | −0.024% | $669.0M | $2.53B | 75x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,460.8 | −0.144% | $899K | $25K | 10x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,462.6 | −0.024% | $225.7M | $902.0M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,462.7 | −0.016% | $103.3M | $57.1M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,462.5 | −0.026% | $161.8M | $311.9M | 75x | as long as short |
| BingX ZEC-USDT | +0.0100% | 8h | 1,462.4 | −0.034% | — | $102.2M | — | as long as short |
| Backpack ZEC_USDC_PERP | +0.0100% | 1h | 1,463.3 | +0.026% | $2.3M | $4.1M | 15x | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,461.6 | −0.090% | $509K | $9.5M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,461.7 | −0.080% | $3.0M | $492K | 10x | as long as short |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,461.1 | −0.124% | $429K | $816K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,462.9 | −0.003% | $110K | $4.8M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,462.4 | −0.034% | $343K | $2.0M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,462.5 | −0.030% | $128K | $160K | 20x | as long as short |
| Derive ZEC-PERPshort | +0.0100% | 1h | 1,461.2 | −0.113% | $446K | $498K | 6.7x | |
| SunX ZEC-USDT | +0.0100% | 8h | 1,464.7 | +0.121% | $3K | $1.3M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,462.6 | −0.023% | $222K | $4.7M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,462.1 | −0.055% | $2.4M | $24.6M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,462.6 | −0.023% | $3.8M | $5.4M | 50x | as long as short |
| Phoenix ZEC | +0.0103% | 1h | 1,461.8 | −0.077% | $4.6M | $1.6M | 10x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,463 | +0.009% | $3.2M | $7.0M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,462.7 | −0.011% | $36K | $362K | 20x | as long as short |
| RISEx ZEC/USDC | +0.0219% | 1h | 1,462.9 | 0.000% | $844K | $1.8M | 10x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0440% | 1h | 1,464.7 | +0.122% | $3.7M | $11.7M | 50x | as long as short |
| Aftermath Perps ZECUSD | +0.0504% | 1h | 1,462.1 | −0.057% | $40K | $34K | 10x | as long as short |
| Arcus ZEC-USD | +0.0518% | 1h | 1,462.5 | −0.025% | $742K | $8.0M | 10x | as long as short |
| Lighter RH ZEC | +0.0544% | 1h | 1,464.6 | +0.119% | $2.0M | $8.5M | 10x | as long as short |
Deribit ZEC_USDC-PERPETUAL
gTrade (Gains Network) ZEC/USD
Orderly PERP_ZEC_USDC
01 Exchange ZECUSD
OKX ZEC-USDT-SWAP
Gate ZEC_USDT
Katana Perps ZEC-USD
Lighter ZEC
Popdex ZECUSDT
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Hyperliquid ZEC
Aster ZECUSDT
Pacifica ZEC
Binance ZECUSDT
Bulk ZEC-USD
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDT
Backpack ZEC_USDC_PERP
edgeX ZECUSDC
GRVT ZEC_USDT_Perp
ApeX Omni ZECUSDT
StandX ZEC-USD
Polymarket Perps ZEC-USD
Bullet ZEC-USD
SunX ZEC-USDT
SoDEX ZEC-USD
HTX ZEC-USDT
Phemex ZECUSDT
Phoenix ZEC
Extended ZEC-USD
Aevo ZEC-PERP
RISEx ZEC/USDC
Coinbase International ZEC-PERP-INTX
Aftermath Perps ZECUSD
Arcus ZEC-USD
Lighter RH ZEC