Settings8H · net · $10k
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Funding arb · Price arb /

ZEC

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Alert: funding
Measured
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 01:00 UTC+0.0474%/8h= +51.9% APRnext payment +$0.59 per $10,000 · paid last 24h +0.133%
Price spread now: Coinbase International against Kraken Futures+0.175%7-day average +0.093% · you sell dearer than you buy
Net, funding: paid 7d − costs−$11as in the Funding arb table
Net, price: spread back to 7d avg − costs−$35as in the Price arb table
costs, in and out, $10k−$430.434% of the position
Long on Kraken FuturesShort on Coinbase International
What this pair did over the last
the charts below follow
Funding, last 7 days+0.328%+$33 on $10k
Price spread, last 3 days (all we have)−0.117%−$12 · spread now +0.175%, 7d avg +0.093%
Together, before fees+0.211%+$21 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Coinbase International is 0.082% dearer against Kraken Futures than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.093%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.328% in total (about 17.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.59 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
LongKraken Futures PF_ZECUSD1,474.2−0.0002get 0.0000% / 1h18m 26s$18.1M$43.8M25x
ShortCoinbase International ZEC-PERP-INTX1,476.80.0472get 0.0059% / 1h18m 26s$3.7M$9.4M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Coinbase International against Kraken Futures. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

click an exchange to add or hide it
latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$99.58
Price spread: +0.175% → +0.093%
$8.19
Slippage, 4 orders
−$23.43
Fee Kraken Futures: 5 bp × 2 orders
−$10
Fee Coinbase International: 5 bp × 2 orders
−$10
Net
$64.35
Costs to cover
0.434%
Break-even
2.5 days
Slippage from Kraken Futures: live order book, 6 min ago; Coinbase International: live order book, 6 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Kraken Futures live order book, 6 min ago1.53 bp7.9 bp −$812.8 bp −$12818.0 bp −$1,80164.0 bp −$32.0K
Sell Coinbase International live order book, 6 min ago1.15 bp11.6 bp −$1213.5 bp −$13541.0 bp −$4,095doesn't fit

ZEC on 50 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 PERP−0.3678%1h1,459.6−0.997%$34K$274K12xas long as short
Hotstuff ZEC-PERP−0.0080%1h1,474.1−0.011%$6K$1K10xas long as short
Ondo Perps ZEC-USD.P−0.0014%1h1,472.5−0.118%$400K$516K5xas long as short
Kraken Futures PF_ZECUSDlong−0.0002%1h1,474.2long leg$18.1M$43.8M25x
dYdX ZEC-USD0.0000%1h1,474.4+0.008%$415K$53K5xas long as short
Kalshi KXZECPERP0.0000%8h1,474.6+0.021%$975K$4.9M2.2xas long as short
Perpl ZEC0.0000%43m1,472.8−0.100%$84K$254K10xas long as short
gTrade (Gains Network) ZEC/USDL +0.0007% / S −0.0006%1h1,473.4−0.057%$5.2M—150xas long as short
Orderly PERP_ZEC_USDC+0.0030%8h1,472.5−0.122%$294K$1.0M20xas long as short
GMX ZEC/USD [WBTC.b-USDC]L +0.0055% / S −0.0009%1h1,473.3−0.067%$385K—100xas long as short
Show all 50 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Variational Omni ZEC+0.0055%8h1,474.3+0.001%$48.1M$32.6M—as long as short
Phoenix ZEC+0.0070%1h1,474.7+0.029%$4.7M$1.5M10xas long as short
01 Exchange ZECUSD+0.0072%1h1,473.5−0.049%$8K$8K5xas long as short
Popdex ZECUSDT+0.0096%1h1,473.3−0.064%$173K$1.8M50xas long as short
OKX ZEC-USDT-SWAP+0.0097%8h1,472.5−0.120%$181.6M$1.27B50xas long as short
Katana Perps ZEC-USD+0.0100%8h1,473.1−0.076%$12K$838K10xas long as short
Paradex ZEC-USD-PERP+0.0100%8h1,473.8−0.028%$61K$39K10xas long as short
Nado ZEC-PERP+0.0100%1h1,474.4+0.012%$2.6M$6.5M10xas long as short
Hyperliquid ZEC+0.0100%1h1,474.5+0.017%$768.1M$443.5M10xas long as short
Aster ZECUSDT+0.0100%8h1,473.4−0.059%$14.8M$30.2M75xas long as short
Pacifica ZEC+0.0100%1h1,474.1−0.011%$1.7M$2.7M10xas long as short
Binance ZECUSDT+0.0100%8h1,473.2−0.070%$681.5M$2.31B75xas long as short
Bybit ZECUSDT+0.0100%8h1,472.7−0.103%$272.0M$615.7M75xas long as short
Bulk ZEC-USD+0.0100%1h1,476.6+0.158%$896K$18K10xas long as short
Gate ZEC_USDT+0.0100%8h1,473.1−0.078%$50.3M$176.1M75xas long as short
MEXC ZEC_USDT+0.0100%8h1,473.2−0.070%$215.8M$800.9M150xas long as short
KuCoin ZECUSDTM+0.0100%8h1,473.3−0.067%$103.5M$56.4M75xas long as short
Bitget ZECUSDT+0.0100%8h1,472.8−0.098%$163.6M$282.6M75xas long as short
BingX ZEC-USDC+0.0100%8h1,473−0.085%—$6.7M—as long as short
edgeX ZECUSDC+0.0100%4h1,474.4+0.012%$574K$9.0M20xas long as short
GRVT ZEC_USDT_Perp+0.0100%8h1,473.6−0.047%$3.0M$443K10xas long as short
ApeX Omni ZECUSDT+0.0100%1h1,474.8+0.040%$429K$896K50xas long as short
StandX ZEC-USD+0.0100%1h1,473.7−0.038%$71K$4.7M30xas long as short
Polymarket Perps ZEC-USD+0.0100%1h1,473.2−0.071%$346K$1.8M10xas long as short
Bullet ZEC-USD+0.0100%1h1,473.2−0.069%$128K$160K20xas long as short
Derive ZEC-PERP+0.0100%1h1,471.2−0.206%$458K$511K6.7xas long as short
SunX ZEC-USDT+0.0100%8h1,476.4+0.145%$3K$1.2M20xas long as short
SoDEX ZEC-USD+0.0100%1h1,472.5−0.120%$243K$3.6M10xas long as short
HTX ZEC-USDT+0.0100%8h1,474.6+0.025%$2.5M$18.7M75xas long as short
Phemex ZECUSDT+0.0100%8h1,474.7+0.032%$3.9M$5.4M50xas long as short
Extended ZEC-USD+0.0104%1h1,473.3−0.067%$3.2M$7.1M10xas long as short
Aevo ZEC-PERP+0.0104%1h1,472.6−0.113%$48K$162K20xas long as short
Deribit ZEC_USDC-PERPETUAL+0.0144%1h1,473.3−0.064%$613K$1.3M25xas long as short
Lighter ZEC+0.0248%1h1,475.4+0.079%$19.3M$48.2M20xas long as short
Arcus ZEC-USD+0.0254%1h1,475+0.054%$688K$8.6M10xas long as short
Lighter RH ZEC+0.0288%1h1,475.5+0.084%$2.1M$7.1M10xas long as short
RISEx ZEC/USDC+0.0374%1h1,474−0.014%$866K$1.0M10xas long as short
Backpack ZEC_USDC_PERP+0.0470%1h1,474.8+0.040%$2.5M$3.9M15xas long as short
Coinbase International ZEC-PERP-INTXshort+0.0472%1h1,476.8+0.175%$3.7M$9.4M50x
Aftermath Perps ZECUSD+0.0747%1h1,474.3+0.005%$44K$46K10xas long as short