Funding you earn now, next payment 06:00 UTC−0.0408%/8h= −44.7% APRnext payment −$0.51 per $10,000 · paid last 24h −0.032%
Price spread now: Hyperliquid against Arcus+0.144%52s7-day average −0.011% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$200.199% of the position
Funding, last 4 days (all we have)+0.033%+$3 on $10k
+Price spread, last 7 days−0.161%−$16 · spread now +0.144%, 7d avg −0.011%
=Together, before fees−0.129%+ Points / potential airdropHyperliquid: Season 2 · farm board−$13 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Hyperliquid is 0.154% dearer against Arcus than usual: you sell high and buy low (spread +0.144% now, against its 7-day average of −0.011%): +$15 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 30 hours. The two prices were read 52 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 4 days it paid 0.033% in total (about 3.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.51 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 | 1,505.6 | 0.0508 | pay 0.0064% / 1h | 18m 45s | $622K | $8.3M | 10x |
| Short | Hyperliquid ZEC | 1,507.8 | 0.0100 | get 0.0013% / 1h | 18m 45s | $788.1M | $430.9M | 10x |
Arcus ZEC-USD
Hyperliquid ZECFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid 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
- −$85.76
- Price spread: +0.144% → −0.011%
- $15.42
- Slippage, 4 orders
- −$6.44
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$90.28
- Costs to cover
- 0.199%
- Break-even
- never at this rate
Slippage from Arcus: live order book, 5 min ago; Hyperliquid: live order book, 5 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, 5 min ago | 0.34 bp | 5.4 bp −$5 | 8.0 bp −$80 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 5 min ago | 0.34 bp | 4.9 bp −$5 | 6.7 bp −$67 | 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 | −0.3243% | 1h | 1,478 | −1.838% | $34K | $273K | 12x | as long as short |
| BloFin ZEC-USDT | −0.0152% | 8h | 1,501.8 | −0.253% | $30.2M | $73.5M | 75x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,510.3 | +0.308% | $6K | $1K | 10x | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,506.8 | +0.077% | $419K | $36K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,510 | +0.292% | $1.7M | $4.6M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,502.5 | −0.206% | $86K | $239K | 10x | as long as short |
| Deribit ZEC_USDC-PERPETUAL | 0.0000% | 1h | 1,502.6 | −0.200% | $713K | $1.4M | 25x | as long as short |
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,502.3 | −0.224% | $5.3M | — | 150x | as long as short |
| 01 Exchange ZECUSD | +0.0064% | 1h | 1,506 | +0.027% | $8K | $7K | 5x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0065% | 8h | 1,502.3 | −0.224% | $303K | $898K | 20x | as long as short |
Injective ZEC/USDC PERP
BloFin ZEC-USDT
Hotstuff ZEC-PERP
dYdX ZEC-USD
Kalshi KXZECPERP
Perpl ZEC
Deribit ZEC_USDC-PERPETUAL
gTrade (Gains Network) ZEC/USD
01 Exchange ZECUSD
Orderly PERP_ZEC_USDCShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix ZEC | +0.0092% | 1h | 1,496 | −0.641% | $4.8M | $1.3M | 10x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,504.8 | −0.058% | $140K | $1.7M | 50x | as long as short |
| Bybit ZECUSDT | +0.0098% | 8h | 1,506.6 | +0.063% | $272.9M | $609.3M | 75x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,507.3 | +0.111% | $62K | $43K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,504.2 | −0.097% | $2.9M | $6.4M | 10x | as long as short |
| Hyperliquid ZECshort | +0.0100% | 1h | 1,507.8 | +0.144% | $788.1M | $430.9M | 10x | |
| Aster ZECUSDT | +0.0100% | 8h | 1,506.4 | +0.048% | $14.8M | $28.9M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,507.3 | +0.114% | $1.7M | $2.4M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,506.2 | +0.037% | $699.1M | $2.22B | 75x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0100% | 8h | 1,506.7 | +0.073% | $181.3M | $1.28B | 50x | as long as short |
| Ondo Perps ZEC-USD.P | +0.0100% | 1h | 1,502.6 | −0.202% | $403K | $488K | 5x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,479.3 | −1.750% | $894K | $15K | 10x | as long as short |
| Gate ZEC_USDT | +0.0100% | 8h | 1,505.5 | −0.010% | $54.7M | $176.7M | 75x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,506.1 | +0.033% | $228.2M | $772.1M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,505.4 | −0.016% | $105.9M | $54.1M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,506.8 | +0.080% | $169.4M | $273.6M | 75x | as long as short |
| BingX ZEC-USDC | +0.0100% | 8h | 1,506.4 | +0.053% | — | $6.7M | — | as long as short |
| Variational Omni ZEC | +0.0100% | 8h | 1,494.7 | −0.728% | $48.9M | $32.5M | — | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,492.9 | −0.843% | $562K | $8.6M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,481.5 | −1.605% | $3.0M | $462K | 10x | as long as short |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,481.5 | −1.604% | $410K | $927K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,506.5 | +0.055% | $53K | $4.6M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,504.2 | −0.095% | $371K | $1.7M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,502.7 | −0.192% | $165K | $184K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,501.3 | −0.290% | $458K | $506K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,504.4 | −0.084% | $3K | $1.2M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,502.3 | −0.220% | $248K | $3.4M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,501.1 | −0.303% | $2.6M | $19.3M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,502.9 | −0.184% | $4.0M | $4.9M | 50x | as long as short |
| Katana Perps ZEC-USD | +0.0100% | 8h | 1,505.8 | +0.012% | $13K | $847K | 10x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0102% / S −0.0073% | 1h | 1,502.4 | −0.213% | $402K | — | 100x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,505.4 | −0.017% | $2.8M | $8.0M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,502.3 | −0.221% | $46K | $153K | 20x | as long as short |
| Lighter RH ZEC | +0.0120% | 1h | 1,508 | +0.155% | $2.2M | $7.2M | 10x | as long as short |
| Kraken Futures PF_ZECUSD | +0.0143% | 1h | 1,502.2 | −0.231% | $18.3M | $45.9M | 25x | as long as short |
| RISEx ZEC/USDC | +0.0154% | 1h | 1,505.4 | −0.017% | $947K | $1.1M | 10x | as long as short |
| Lighter ZEC | +0.0200% | 1h | 1,508.1 | +0.162% | $19.8M | $44.7M | 20x | as long as short |
| Backpack ZEC_USDC_PERP | +0.0451% | 1h | 1,504.5 | −0.076% | $2.4M | $3.7M | 15x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0496% | 1h | 1,504.8 | −0.057% | $3.7M | $9.8M | 50x | as long as short |
| Arcus ZEC-USDlong | +0.0508% | 1h | 1,505.6 | long leg | $622K | $8.3M | 10x | |
| Aftermath Perps ZECUSD | +0.0687% | 1h | 1,487.9 | −1.180% | $50K | $60K | 10x | as long as short |
Phoenix ZEC
Popdex ZECUSDT
Bybit ZECUSDT
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Aster ZECUSDT
Pacifica ZEC
Binance 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-USDC
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
Katana Perps ZEC-USD
GMX ZEC/USD [WBTC.b-USDC]
Extended ZEC-USD
Aevo ZEC-PERP
Lighter RH ZEC
Kraken Futures PF_ZECUSD
RISEx ZEC/USDC
Lighter ZEC
Backpack ZEC_USDC_PERP
Coinbase International ZEC-PERP-INTX
Aftermath Perps ZECUSD