Funding you earn now, next payment 05:00 UTC−0.0190%/8h= −20.8% APRnext payment −$0.24 per $10,000 · paid last 24h −0.013%
Price spread now: Backpack against Arcus−0.135%7-day average +0.382% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$75as in the Price arb table
costs, in and out, $10k−$240.237% of the position
Funding, last 4 days (all we have)+0.001%$0 on $10k
+Price spread, last 7 days−0.400%−$40 · spread now −0.135%, 7d avg +0.382%
=Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Backpack is 0.517% cheaper against Arcus than usual: you would sell low and buy high (−$52 if the spread goes back to its 7-day average of +0.382%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.001% in total (about 0.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.24 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 | Arcus ZEC-USD | 1,457 | 0.0344 | pay 0.0043% / 1h | 57m 11s | $684K | $8.2M | 10x |
| Short | Backpack ZEC_USDC_PERP | 1,455 | 0.0154 | get 0.0019% / 1h | 57m 11s | $2.4M | $3.9M | 15x |
Arcus ZEC-USD
Backpack ZEC_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Arcus. 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
- −$39.81
- Price spread: −0.135% → +0.382%
- −$51.73
- Slippage, 4 orders
- −$9.24
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$115.28
- Costs to cover
- 0.237%
- Break-even
- never at this rate
Slippage from Arcus: live order book, 2 min ago; Backpack: live order book, 2 min ago.
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 Arcus live order book, 2 min ago | 0.00 bp | 2.3 bp −$2 | 2.3 bp −$23 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 2 min ago | 0.03 bp | 5.2 bp −$5 | 14.0 bp −$140 | 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 PERP | −0.3042% | 1h | 1,456.2 | −0.059% | $34K | $272K | 12x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,456.2 | −0.053% | $6K | $1K | 10x | as long as short |
| BloFin ZEC-USDT | −0.0070% | 8h | 1,454.6 | −0.169% | $29.5M | $70.7M | 75x | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,455.6 | −0.095% | $410K | $37K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,455.6 | −0.099% | $1.5M | $4.5M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,454.7 | −0.156% | $83K | $240K | 10x | as long as short |
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,454.6 | −0.167% | $5.2M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0063% | 8h | 1,454.5 | −0.175% | $291K | $952K | 20x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0072% / S −0.0023% | 1h | 1,454.4 | −0.176% | $408K | — | 100x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,454.6 | −0.164% | $173K | $1.7M | 50x | as long as short |
Injective ZEC/USDC PERP
Hotstuff ZEC-PERP
BloFin ZEC-USDT
dYdX ZEC-USD
Kalshi KXZECPERP
Perpl ZEC
gTrade (Gains Network) ZEC/USD
Orderly PERP_ZEC_USDC
GMX ZEC/USD [WBTC.b-USDC]
Popdex ZECUSDTShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Katana Perps ZEC-USD | +0.0100% | 8h | 1,455.1 | −0.133% | $10K | $858K | 10x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,455.2 | −0.123% | $60K | $43K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,455.1 | −0.132% | $2.8M | $6.6M | 10x | as long as short |
| Aster ZECUSDT | +0.0100% | 8h | 1,454.7 | −0.156% | $14.7M | $27.9M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,455.7 | −0.089% | $1.7M | $2.4M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,454.8 | −0.154% | $668.3M | $2.21B | 75x | as long as short |
| Bybit ZECUSDT | +0.0100% | 8h | 1,454.2 | −0.194% | $261.0M | $602.2M | 75x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0100% | 8h | 1,454.6 | −0.162% | $177.8M | $1.22B | 50x | as long as short |
| Ondo Perps ZEC-USD.P | +0.0100% | 1h | 1,458 | +0.068% | $396K | $442K | 5x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,457.5 | +0.037% | $880K | $18K | 10x | as long as short |
| Gate ZEC_USDT | +0.0100% | 8h | 1,454.5 | −0.171% | $50.5M | $170.0M | 75x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,454.8 | −0.154% | $214.4M | $763.6M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,454.7 | −0.156% | $102.6M | $53.9M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,454.9 | −0.144% | $165.4M | $271.0M | 75x | as long as short |
| BingX ZEC-USDT | +0.0100% | 8h | 1,455.1 | −0.131% | — | $105.7M | — | as long as short |
| Variational Omni ZEC | +0.0100% | 8h | 1,457.6 | +0.041% | $47.8M | $32.6M | — | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,458.2 | +0.084% | $567K | $8.5M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,456.2 | −0.057% | $3.0M | $451K | 10x | as long as short |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,456.9 | −0.010% | $404K | $943K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,455.1 | −0.131% | $49K | $4.7M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,454.3 | −0.186% | $353K | $1.8M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,454.6 | −0.167% | $160K | $185K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,453.2 | −0.259% | $444K | $521K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,456.9 | −0.005% | $3K | $1.2M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,454.7 | −0.157% | $233K | $3.4M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,454.2 | −0.196% | $2.7M | $18.4M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,455.3 | −0.121% | $3.8M | $5.1M | 50x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,454.6 | −0.167% | $2.8M | $7.7M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,454.5 | −0.171% | $47K | $151K | 20x | as long as short |
| 01 Exchange ZECUSD | +0.0112% | 1h | 1,454.8 | −0.150% | $8K | $7K | 5x | as long as short |
| Phoenix ZEC | +0.0123% | 1h | 1,457.7 | +0.046% | $4.6M | $1.3M | 10x | as long as short |
| Hyperliquid ZEC | +0.0125% | 1h | 1,456 | −0.069% | $757.4M | $431.7M | 10x | as long as short |
| Backpack ZEC_USDC_PERPshort | +0.0154% | 1h | 1,455 | −0.135% | $2.4M | $3.9M | 15x | |
| Lighter RH ZEC | +0.0208% | 1h | 1,456 | −0.066% | $2.1M | $7.0M | 10x | as long as short |
| RISEx ZEC/USDC | +0.0216% | 1h | 1,454.9 | −0.143% | $921K | $1.1M | 10x | as long as short |
| Deribit ZEC_USDC-PERPETUAL | +0.0229% | 1h | 1,455.3 | −0.120% | $614K | $1.3M | 25x | as long as short |
| Lighter ZEC | +0.0232% | 1h | 1,456.1 | −0.061% | $19.2M | $44.7M | 20x | as long as short |
| Kraken Futures PF_ZECUSD | +0.0333% | 1h | 1,454.7 | −0.158% | $18.0M | $45.2M | 25x | as long as short |
| Arcus ZEC-USDlong | +0.0344% | 1h | 1,457 | long leg | $684K | $8.2M | 10x | |
| Coinbase International ZEC-PERP-INTX | +0.0464% | 1h | 1,457.2 | +0.011% | $3.7M | $9.1M | 50x | as long as short |
| Aftermath Perps ZECUSD | +0.0674% | 1h | 1,457.5 | +0.032% | $45K | $49K | 10x | as long as short |
Katana Perps ZEC-USD
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Aster ZECUSDT
Pacifica ZEC
Binance ZECUSDT
Bybit ZECUSDT
OKX ZEC-USDT-SWAP
Ondo Perps ZEC-USD.P
Bulk ZEC-USD
Gate ZEC_USDT
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDT
Variational Omni ZEC
edgeX ZECUSDC
GRVT ZEC_USDT_Perp
ApeX Omni ZECUSDT
StandX ZEC-USD
Polymarket Perps ZEC-USD
Bullet ZEC-USD
Derive ZEC-PERP
SunX ZEC-USDT
SoDEX ZEC-USD
HTX ZEC-USDT
Phemex ZECUSDT
Extended ZEC-USD
Aevo ZEC-PERP
01 Exchange ZECUSD
Phoenix ZEC
Hyperliquid ZEC
Lighter RH ZEC
RISEx ZEC/USDC
Deribit ZEC_USDC-PERPETUAL
Lighter ZEC
Kraken Futures PF_ZECUSD
Coinbase International ZEC-PERP-INTX
Aftermath Perps ZECUSD