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Funding arb · Price arb /

ZEC

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 07:00 UTC+0.3582%/8h= +392.2% APRnext payment +$4.48 per $10,000 · paid last 24h +0.681%
Price spread now: Bulk against Injective+0.998%7-day average −0.099% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on InjectiveShort on Bulk
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.632%+$63 on $10k
Price spread, last 4 days (all we have)−1.446%−$145 · spread now +0.998%, 7d avg −0.099%
Together, before fees−0.814%−$81 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$107 a day on $10k at the current rate, and Bulk is 1.097% dearer against Injective than usual: you sell high and buy low: +$110 more if the spread goes back to its 7-day average of −0.099%.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.632% in total (about 62.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$4.48 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongInjective ZEC/USDC PERP1,479.8−0.3684get 0.0461% / 1h57m 52s$34K$273K12x
ShortBulk ZEC-USD1,494.5−0.0102pay 0.0013% / 1h57m 52s$903K$15K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bulk against Injective. 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

Funding earned
$752.17
Price spread: +0.998% → −0.099%
$109.7
Slippage, 4 orders
no order book: not counted
Fee Injective: 0.01 bp × 2 orders
−$0.02
Fee Bulk: 3.5 bp × 2 orders
−$7
Net
$854.86
Costs to cover
0.070%
Break-even
from the start
Slippage unknown: Injective: live order book, 51 min ago; Bulk: live order book, 51 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Injective live order book, 51 min ago60.15 bp489443.9 bp −$489.4K4951866.0 bp −$49.52M49286508.0 bp −$4928.65M245605760.0 bp −$122802.88M
Sell Bulk live order book, 51 min ago0.34 bp3.8 bp −$44.6 bp −$467.3 bp −$72714.3 bp −$7,141

ZEC on 51 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective ZEC/USDC PERPlong−0.3684%1h1,479.8long leg$34K$273K12x
BloFin ZEC-USDT−0.0122%8h1,491.8+0.814%$30.6M$73.9M75xas long as short
Bulk ZEC-USDshort−0.0102%1h1,494.5+0.998%$903K$15K10x
Kraken Futures PF_ZECUSD−0.0096%1h1,492.4+0.852%$18.1M$46.3M25xas long as short
Hotstuff ZEC-PERP−0.0080%1h1,490.4+0.716%$6K$1K10xas long as short
dYdX ZEC-USD0.0000%1h1,489.8+0.675%$414K$35K5xas long as short
Kalshi KXZECPERP0.0000%8h1,491.6+0.800%$1.6M$4.6M2.2xas long as short
Perpl ZEC0.0000%43m1,488.9+0.614%$82K$245K10xas long as short
gTrade (Gains Network) ZEC/USDL +0.0007% / S −0.0006%1h1,491.7+0.803%$5.3M—150xas long as short
Orderly PERP_ZEC_USDC+0.0071%8h1,491.7+0.809%$300K$1.1M20xas long as short
Show all 51 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Phoenix ZEC+0.0092%1h1,495.2+1.042%$4.7M$1.3M10xas long as short
Popdex ZECUSDT+0.0096%1h1,491.4+0.783%$156K$1.7M50xas long as short
Nado ZEC-PERP+0.0100%1h1,490.2+0.706%$2.8M$6.6M10xas long as short
Aster ZECUSDT+0.0100%8h1,493.4+0.920%$14.2M$29.5M75xas long as short
Pacifica ZEC+0.0100%1h1,490.8+0.745%$1.7M$2.4M10xas long as short
Binance ZECUSDT+0.0100%8h1,493.4+0.924%$694.7M$2.28B75xas long as short
Bybit ZECUSDT+0.0100%8h1,493+0.893%$269.9M$626.7M75xas long as short
OKX ZEC-USDT-SWAP+0.0100%8h1,493.2+0.904%$181.0M$1.31B50xas long as short
Ondo Perps ZEC-USD.P+0.0100%1h1,486.2+0.435%$406K$477K5xas long as short
Gate ZEC_USDT+0.0100%8h1,493.9+0.953%$54.2M$177.9M75xas long as short
MEXC ZEC_USDT+0.0100%8h1,494.2+0.972%$233.7M$769.2M150xas long as short
KuCoin ZECUSDTM+0.0100%8h1,493.9+0.952%$102.6M$56.3M75xas long as short
Bitget ZECUSDT+0.0100%8h1,493.1+0.902%$161.0M$286.4M75xas long as short
BingX ZEC-USDT+0.0100%8h1,493.2+0.910%—$115.0M—as long as short
Variational Omni ZEC+0.0100%8h1,494+0.960%$48.9M$33.3M—as long as short
edgeX ZECUSDC+0.0100%4h1,494+0.960%$570K$8.8M20xas long as short
GRVT ZEC_USDT_Perp+0.0100%8h1,495.8+1.084%$3.1M$477K10xas long as short
ApeX Omni ZECUSDT+0.0100%1h1,494.4+0.986%$414K$931K50xas long as short
StandX ZEC-USD+0.0100%1h1,490.2+0.706%$57K$4.6M30xas long as short
Polymarket Perps ZEC-USD+0.0100%1h1,490.5+0.725%$361K$1.7M10xas long as short
Bullet ZEC-USD+0.0100%1h1,491.2+0.773%$164K$185K20xas long as short
Derive ZEC-PERP+0.0100%1h1,490.9+0.750%$455K$500K6.7xas long as short
SunX ZEC-USDT+0.0100%8h1,494+0.961%$3K$1.2M20xas long as short
SoDEX ZEC-USD+0.0100%1h1,492+0.827%$254K$3.5M10xas long as short
HTX ZEC-USDT+0.0100%8h1,491.9+0.820%$2.6M$19.6M75xas long as short
Phemex ZECUSDT+0.0100%8h1,492.4+0.856%$4.0M$5.0M50xas long as short
Paradex ZEC-USD-PERP+0.0100%8h1,490.3+0.711%$61K$43K10xas long as short
Katana Perps ZEC-USD+0.0100%8h1,491.1+0.764%$12K$860K10xas long as short
GMX ZEC/USD [WBTC.b-USDC]L +0.0104% / S −0.0078%1h1,491.3+0.782%$373K—100xas long as short
Extended ZEC-USD+0.0104%1h1,493.9+0.952%$2.8M$7.9M10xas long as short
Aevo ZEC-PERP+0.0104%1h1,492.1+0.832%$45K$149K20xas long as short
01 Exchange ZECUSD+0.0112%1h1,491.2+0.774%$8K$7K5xas long as short
RISEx ZEC/USDC+0.0129%1h1,491.3+0.778%$933K$1.2M10xas long as short
Backpack ZEC_USDC_PERP+0.0150%1h1,493.2+0.908%$2.3M$3.9M15xas long as short
Arcus ZEC-USD+0.0221%1h1,492.3+0.845%$607K$8.6M10xas long as short
Deribit ZEC_USDC-PERPETUAL+0.0250%1h1,493+0.892%$710K$1.4M25xas long as short
Hyperliquid ZEC+0.0306%1h1,494.6+1.002%$778.8M$439.9M10xas long as short
Aftermath Perps ZECUSD+0.0325%1h1,493.9+0.952%$49K$63K10xas long as short
Lighter ZEC+0.0344%1h1,494.7+1.011%$19.6M$45.3M20xas long as short
Lighter RH ZEC+0.0416%1h1,494.6+1.002%$2.1M$7.3M10xas long as short
Coinbase International ZEC-PERP-INTX+0.0480%1h1,494.3+0.981%$3.6M$9.9M50xas long as short