ZEC

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.3576%/8h= +391.5% APRnext payment +$4.47 per $10,000 · paid last 24h +0.380%

Price spread now: Bullet against Injective+1.128%54s7-day average −0.118% · you sell dearer than you buy

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

Long on Injective Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.332%+$33 on $10k

Price spread, last 3 days (all we have)−2.153%−$215 · spread now +1.128%, 7d avg −0.118%

Together, before fees−1.821%−$182 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 Bullet is 1.246% dearer against Injective than usual: you sell high and buy low: +$125 more if the spread goes back to its 7-day average of −0.118%. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.332% in total (about 38.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$4.47 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	Injective ZEC/USDC PERP	1,446.2	−0.3476	get 0.0434% / 1h	59m 50s	$33K	$275K	12x
Short	Bullet ZEC-USD	1,462.5	0.0100	get 0.0013% / 1h	59m 50s	$128K	$160K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet 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

Position, each leg$Hold fordaysFee InjectivebpFee BulletbpOrdersPrice spread, now +1.128%Rate

Funding earned: $750.91
Price spread: +1.128% → −0.118%: $124.56
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bullet: 4 bp × 2 orders: −$8
Net: $867.45
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Injective: live order book, 24 min ago; Bullet: live order book, 24 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 Injective live order book, 24 min ago	50.93 bp	489355.9 bp −$489.4K	4951226.5 bp −$49.51M	49282456.0 bp −$4928.25M	245591744.0 bp −$122795.87M
Sell Bullet live order book, 24 min ago	1.79 bp	6.2 bp −$6	9.3 bp −$93	doesn't fit	doesn't fit

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 PERPlong	−0.3476%	1h	1,446.2	long leg	$33K	$275K	12x
BloFin ZEC-USDT	−0.0087%	8h	1,462.2	+1.107%	$29.0M	$75.6M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,462.4	+1.125%	$6K	$2K	10x	as long as short
Kraken Futures PF_ZECUSD	−0.0071%	1h	1,462.6	+1.140%	$17.8M	$44.9M	25x	as long as short
Bybit ZECUSDT	−0.0040%	8h	1,461.8	+1.081%	$270.0M	$680.0M	75x	as long as short
Variational Omni ZEC	−0.0018%	8h	1,461.1	+1.037%	$46.6M	$34.3M	—	as long as short
Ondo Perps ZEC-USD.P	−0.0008%	1h	1,460.7	+1.006%	$396K	$516K	5x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,462.1	+1.100%	$412K	$106K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,462.9	+1.155%	$937K	$5.6M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,462.6	+1.140%	$83K	$401K	10x	as long as short

Show 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	+1.192%	$595K	$1.3M	25x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,463	+1.166%	$5.2M	—	150x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0012% / S +0.0077%	1h	1,462.9	+1.158%	$559K	—	100x	as long as short
Orderly PERP_ZEC_USDC	+0.0014%	8h	1,462.6	+1.139%	$293K	$1.5M	20x	as long as short
01 Exchange ZECUSD	+0.0040%	1h	1,462.8	+1.151%	$8K	$8K	5x	as long as short
OKX ZEC-USDT-SWAP	+0.0055%	8h	1,462.6	+1.140%	$175.1M	$1.37B	50x	as long as short
Gate ZEC_USDT	+0.0058%	8h	1,462.5	+1.131%	$50.0M	$191.9M	75x	as long as short
Katana Perps ZEC-USD	+0.0095%	8h	1,462.5	+1.131%	$13K	$862K	10x	as long as short
Lighter ZEC	+0.0096%	1h	1,464.3	+1.258%	$18.9M	$52.2M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,462.5	+1.128%	$173K	$2.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,462.2	+1.109%	$60K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,463.1	+1.169%	$2.5M	$7.1M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,463.6	+1.207%	$758.9M	$495.3M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,462.4	+1.126%	$15.4M	$33.8M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,462.7	+1.146%	$1.6M	$3.0M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,462.6	+1.136%	$669.0M	$2.53B	75x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,460.8	+1.012%	$899K	$25K	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,462.6	+1.138%	$224.3M	$902.1M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,462.5	+1.127%	$103.3M	$57.1M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,462.8	+1.151%	$161.9M	$311.9M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,462.4	+1.124%	—	$102.2M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,463.3	+1.185%	$2.3M	$4.1M	15x	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,461.6	+1.067%	$509K	$9.5M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,461.7	+1.077%	$3.0M	$492K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,461.1	+1.033%	$429K	$816K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,462.9	+1.155%	$110K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,462.4	+1.124%	$343K	$2.0M	10x	as long as short
Bullet ZEC-USDshort	+0.0100%	1h	1,462.5	+1.128%	$128K	$160K	20x
Derive ZEC-PERP	+0.0100%	1h	1,461.2	+1.044%	$446K	$498K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,464.7	+1.281%	$3K	$1.3M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,462.6	+1.135%	$222K	$4.7M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,462.1	+1.103%	$2.4M	$24.6M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,462.6	+1.135%	$3.8M	$5.4M	50x	as long as short
Phoenix ZEC	+0.0103%	1h	1,461.8	+1.080%	$4.6M	$1.6M	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,463.1	+1.175%	$3.2M	$7.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,462.7	+1.148%	$36K	$362K	20x	as long as short
RISEx ZEC/USDC	+0.0219%	1h	1,462.9	+1.158%	$844K	$1.8M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0440%	1h	1,464.7	+1.282%	$3.7M	$11.7M	50x	as long as short
Aftermath Perps ZECUSD	+0.0504%	1h	1,462.1	+1.100%	$40K	$34K	10x	as long as short
Arcus ZEC-USD	+0.0518%	1h	1,462.5	+1.133%	$742K	$8.0M	10x	as long as short
Lighter RH ZEC	+0.0536%	1h	1,464.9	+1.293%	$2.0M	$8.2M	10x	as long as short