Funding you earn now, next payment 22:00 UTC−0.0180%/8h= −19.7% APRnext payment −$0.23 per $10,000 · paid last 24h −0.056%
Price spread now: Hotstuff against Backpack−0.033%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Hotstuff is 0.033% cheaper against Backpack than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack ZEC_USDC_PERP | 1,445.3 | 0.0100 | pay 0.0013% / 1h | 32m 30s | $2.3M | $4.1M | 15x |
| Short | Hotstuff ZEC-PERP | 1,444.8 | −0.0080 | pay 0.0010% / 1h | 32m 30s | $6K | $2K | 10x |
Backpack ZEC_USDC_PERP
Hotstuff ZEC-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hotstuff against Backpack. 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
- −$37.8
- Price spread: −0.033% → 0.000%
- −$3.25
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Hotstuff: 2.5 bp × 2 orders
- −$5
- Net
- −$56.05
- Costs to cover
- 0.150%
- Break-even
- never at this rate
Slippage unknown: Backpack: live order book, 2 min ago; Hotstuff: no order-book sample. 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 Backpack live order book, 2 min ago | 0.04 bp | 5.6 bp −$6 | 17.8 bp −$178 | doesn't fit | doesn't fit |
| Sell Hotstuff no order-book sample | — | — | — | — | — |
Hotstuff: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.3476% | 1h | 1,438.5 | −0.468% | $33K | $275K | 12x | as long as short |
| BloFin ZEC-USDT | −0.0096% | 8h | 1,445.3 | +0.003% | $28.7M | $74.7M | 75x | as long as short |
| Hotstuff ZEC-PERPshort | −0.0080% | 1h | 1,444.8 | −0.033% | $6K | $2K | 10x | |
| Kraken Futures PF_ZECUSD | −0.0072% | 1h | 1,444.5 | −0.055% | $17.6M | $44.5M | 25x | as long as short |
| Variational Omni ZEC | −0.0009% | 8h | 1,449.1 | +0.265% | $45.6M | $32.2M | — | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,445.1 | −0.009% | $407K | $106K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,445.2 | −0.005% | $907K | $5.7M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,444.7 | −0.037% | $82K | $401K | 10x | as long as short |
| Deribit ZEC_USDC-PERPETUAL | 0.0000% | 1h | 1,445.3 | +0.005% | $588K | $1.3M | 25x | as long as short |
| Bybit ZECUSDT | +0.0005% | 8h | 1,444 | −0.086% | $266.1M | $674.9M | 75x | as long as short |
Injective ZEC/USDC PERP
BloFin ZEC-USDT
Kraken Futures PF_ZECUSD
Variational Omni ZEC
dYdX ZEC-USD
Kalshi KXZECPERP
Perpl ZEC
Deribit ZEC_USDC-PERPETUAL
Bybit ZECUSDTShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,444.8 | −0.035% | $5.1M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0015% | 8h | 1,444.9 | −0.026% | $290K | $1.5M | 20x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0028% / S +0.0071% | 1h | 1,444.3 | −0.065% | $543K | — | 100x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0054% | 8h | 1,444.6 | −0.045% | $171.1M | $1.35B | 50x | as long as short |
| Gate ZEC_USDT | +0.0072% | 8h | 1,445 | −0.019% | $49.4M | $188.3M | 75x | as long as short |
| Aster ZECUSDT | +0.0074% | 8h | 1,444.5 | −0.054% | $15.2M | $34.6M | 75x | as long as short |
| 01 Exchange ZECUSD | +0.0080% | 1h | 1,444.7 | −0.039% | $7K | $8K | 5x | as long as short |
| Katana Perps ZEC-USD | +0.0095% | 8h | 1,444.2 | −0.076% | $13K | $873K | 10x | as long as short |
| Lighter ZEC | +0.0096% | 1h | 1,446.3 | +0.073% | $18.7M | $54.4M | 20x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,444.6 | −0.046% | $172K | $2.0M | 50x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,445.4 | +0.007% | $59K | $37K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,444.5 | −0.052% | $2.4M | $7.1M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,445.5 | +0.016% | $746.5M | $494.4M | 10x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,444.9 | −0.023% | $1.6M | $3.1M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,444.5 | −0.052% | $657.4M | $2.53B | 75x | as long as short |
| Ondo Perps ZEC-USD.P | +0.0100% | 1h | 1,442.7 | −0.178% | $394K | $516K | 5x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,452.5 | +0.500% | $895K | $33K | 10x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,445.2 | −0.008% | $214.0M | $891.2M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,444.8 | −0.030% | $102.6M | $56.9M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,445.1 | −0.010% | $160.1M | $313.0M | 75x | as long as short |
| BingX ZEC-USDC | +0.0100% | 8h | 1,443.8 | −0.102% | — | $6.8M | — | as long as short |
| Backpack ZEC_USDC_PERPlong | +0.0100% | 1h | 1,445.3 | long leg | $2.3M | $4.1M | 15x | |
| edgeX ZECUSDC | +0.0100% | 4h | 1,449.9 | +0.318% | $488K | $9.8M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,448.7 | +0.236% | $3.0M | $501K | 10x | as long as short |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,451.4 | +0.425% | $706K | $607K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,445.6 | +0.022% | $108K | $4.8M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,444.4 | −0.060% | $347K | $2.0M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,445.1 | −0.011% | $126K | $161K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,443.3 | −0.134% | $439K | $493K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,446.5 | +0.085% | $3K | $1.3M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,444.8 | −0.033% | $219K | $4.7M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,445.1 | −0.010% | $2.4M | $24.8M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,445 | −0.016% | $3.7M | $5.3M | 50x | as long as short |
| Phoenix ZEC | +0.0103% | 1h | 1,452.3 | +0.488% | $4.5M | $1.6M | 10x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,444.5 | −0.054% | $3.2M | $6.9M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,444.9 | −0.027% | $36K | $362K | 20x | as long as short |
| RISEx ZEC/USDC | +0.0219% | 1h | 1,445.1 | −0.009% | $862K | $1.9M | 10x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0440% | 1h | 1,447 | +0.122% | $3.7M | $11.4M | 50x | as long as short |
| Aftermath Perps ZECUSD | +0.0447% | 1h | 1,449.1 | +0.268% | $39K | $32K | 10x | as long as short |
| Arcus ZEC-USD | +0.0518% | 1h | 1,446.8 | +0.107% | $767K | $7.9M | 10x | as long as short |
| Lighter RH ZEC | +0.0688% | 1h | 1,446.5 | +0.084% | $1.9M | $8.4M | 10x | as long as short |
gTrade (Gains Network) ZEC/USD
Orderly PERP_ZEC_USDC
GMX ZEC/USD [WBTC.b-USDC]
OKX ZEC-USDT-SWAP
Gate ZEC_USDT
Aster ZECUSDT
01 Exchange ZECUSD
Katana Perps ZEC-USD
Lighter ZEC
Popdex ZECUSDT
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Hyperliquid ZEC
Pacifica ZEC
Binance ZECUSDT
Ondo Perps ZEC-USD.P
Bulk ZEC-USD
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDC
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
Phoenix ZEC
Extended ZEC-USD
Aevo ZEC-PERP
RISEx ZEC/USDC
Coinbase International ZEC-PERP-INTX
Aftermath Perps ZECUSD
Arcus ZEC-USD
Lighter RH ZEC