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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 22:00 UTC+0.3580%/8h= +392.0% APRnext payment +$4.47 per $10,000 · paid last 24h +0.394%
Price spread now: Extended against Injective+1.098%7-day average −0.119% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on InjectiveShort on Extended
What this pair did over the last
the charts below follow
Funding, last 7 days+2.217%+$222 on $10k
Price spread, last 3 days (all we have)−2.047%−$205 · spread now +1.098%, 7d avg −0.119%
Together, before fees+0.170%+ Points / potential airdropExtended: Active · farm board+$17 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 Extended is 1.217% dearer against Injective than usual: you sell high and buy low: +$122 more if the spread goes back to its 7-day average of −0.119%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 2.217% in total (about 115.6% 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.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongInjective ZEC/USDC PERP1,446.2−0.3476get 0.0434% / 1h5m 04s$33K$275K12x
ShortExtended ZEC-USD1,4620.0104get 0.0013% / 1h5m 04s$3.2M$7.0M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Extended 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
$751.75
Price spread: +1.098% → −0.119%
$121.73
Slippage, 4 orders
no order book: not counted
Fee Injective: 0.01 bp × 2 orders
−$0.02
Fee Extended: 2.5 bp × 2 orders
−$5
Net
$868.46
Costs to cover
0.050%
Break-even
from the start
Slippage unknown: Injective: live order book, 19 min ago; Extended: live order book, 4 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, 19 min ago50.93 bp489355.9 bp −$489.4K4951226.5 bp −$49.51M49282456.0 bp −$4928.25M245591744.0 bp −$122795.87M
Sell Extended live order book, 4 min ago0.45 bp3.0 bp −$39.9 bp −$9951.8 bp −$5,175doesn't fit

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−0.3476%1h1,446.2long leg$33K$275K12x
BloFin ZEC-USDT−0.0091%8h1,460+0.960%$28.9M$75.5M75xas long as short
Hotstuff ZEC-PERP−0.0080%1h1,461.5+1.063%$6K$2K10xas long as short
Kraken Futures PF_ZECUSD−0.0071%1h1,460.8+1.011%$17.7M$44.7M25xas long as short
Bybit ZECUSDT−0.0030%8h1,460.6+0.998%$269.8M$677.7M75xas long as short
Variational Omni ZEC−0.0014%8h1,458.9+0.882%$45.7M$33.4M—as long as short
dYdX ZEC-USD0.0000%1h1,460.9+1.017%$411K$106K5xas long as short
Kalshi KXZECPERP0.0000%8h1,460.4+0.985%$935K$5.6M2.2xas long as short
Perpl ZEC0.0000%43m1,461.5+1.061%$83K$401K10xas long as short
Deribit ZEC_USDC-PERPETUAL0.0000%1h1,461.6+1.069%$595K$1.3M25xas long as short
Show all 51 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
gTrade (Gains Network) ZEC/USDL +0.0007% / S −0.0006%1h1,461.5+1.058%$5.2M—150xas long as short
GMX ZEC/USD [WBTC.b-USDC]L +0.0014% / S +0.0075%1h1,461.1+1.037%$558K—100xas long as short
Orderly PERP_ZEC_USDC+0.0015%8h1,460.8+1.012%$293K$1.5M20xas long as short
Ondo Perps ZEC-USD.P+0.0018%1h1,457.9+0.813%$396K$515K5xas long as short
01 Exchange ZECUSD+0.0040%1h1,461.5+1.058%$8K$8K5xas long as short
Gate ZEC_USDT+0.0057%8h1,461.2+1.037%$49.6M$191.3M75xas long as short
OKX ZEC-USDT-SWAP+0.0057%8h1,461.6+1.070%$174.9M$1.37B50xas long as short
Katana Perps ZEC-USD+0.0095%8h1,461+1.027%$13K$862K10xas long as short
Lighter ZEC+0.0096%1h1,462.4+1.123%$18.9M$54.8M20xas long as short
Popdex ZECUSDT+0.0096%1h1,460.8+1.014%$173K$2.0M50xas long as short
Paradex ZEC-USD-PERP+0.0100%8h1,460.7+1.008%$60K$39K10xas long as short
Nado ZEC-PERP+0.0100%1h1,461.7+1.072%$2.5M$7.1M10xas long as short
Hyperliquid ZEC+0.0100%1h1,462.4+1.124%$758.0M$494.9M10xas long as short
Aster ZECUSDT+0.0100%8h1,461.1+1.037%$15.4M$33.9M75xas long as short
Pacifica ZEC+0.0100%1h1,461.4+1.055%$1.6M$3.0M10xas long as short
Binance ZECUSDT+0.0100%8h1,461.1+1.036%$668.3M$2.53B75xas long as short
MEXC ZEC_USDT+0.0100%8h1,461.6+1.070%$222.3M$900.6M150xas long as short
KuCoin ZECUSDTM+0.0100%8h1,461.8+1.080%$103.3M$57.0M75xas long as short
Bitget ZECUSDT+0.0100%8h1,461.7+1.076%$161.7M$312.0M75xas long as short
BingX ZEC-USDC+0.0100%8h1,460.3+0.980%—$6.8M—as long as short
Backpack ZEC_USDC_PERP+0.0100%1h1,461.9+1.086%$2.3M$4.1M15xas long as short
edgeX ZECUSDC+0.0100%4h1,458.9+0.879%$508K$9.5M20xas long as short
GRVT ZEC_USDT_Perp+0.0100%8h1,459.2+0.904%$3.0M$492K10xas long as short
ApeX Omni ZECUSDT+0.0100%1h1,460.1+0.967%$429K$815K50xas long as short
StandX ZEC-USD+0.0100%1h1,460.9+1.017%$109K$4.8M30xas long as short
Polymarket Perps ZEC-USD+0.0100%1h1,460.8+1.013%$343K$2.0M10xas long as short
Bullet ZEC-USD+0.0100%1h1,460.8+1.012%$128K$161K20xas long as short
Derive ZEC-PERP+0.0100%1h1,459.5+0.925%$446K$498K6.7xas long as short
SunX ZEC-USDT+0.0100%8h1,462.9+1.160%$3K$1.3M20xas long as short
SoDEX ZEC-USD+0.0100%1h1,460.8+1.012%$222K$4.7M10xas long as short
HTX ZEC-USDT+0.0100%8h1,461.2+1.043%$2.4M$24.6M75xas long as short
Phemex ZECUSDT+0.0100%8h1,461.3+1.048%$3.8M$5.4M50xas long as short
Bulk ZEC-USD+0.0100%1h1,456.7+0.730%$897K$26K10xas long as short
Phoenix ZEC+0.0103%1h1,462+1.097%$4.6M$1.6M10xas long as short
Extended ZEC-USDshort+0.0104%1h1,462+1.098%$3.2M$7.0M10x
Aevo ZEC-PERP+0.0104%1h1,460.9+1.017%$36K$362K20xas long as short
RISEx ZEC/USDC+0.0219%1h1,461.5+1.064%$844K$1.8M10xas long as short
Coinbase International ZEC-PERP-INTX+0.0440%1h1,462+1.096%$3.7M$11.7M50xas long as short
Aftermath Perps ZECUSD+0.0490%1h1,460.3+0.977%$40K$34K10xas long as short
Arcus ZEC-USD+0.0518%1h1,461.9+1.087%$742K$8.0M10xas long as short
Lighter RH ZEC+0.0568%1h1,462.9+1.157%$2.0M$8.5M10xas long as short