ZEC

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.3344%/8h= −366.2% APRnext payment −$4.18 per $10,000 · paid last 24h −0.566%

Price spread now: Injective against Bulk+0.009%103s7-day average +0.097% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bulk Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.510%−$51 on $10k

Price spread, last 4 days (all we have)+1.893%+$189 · spread now +0.009%, 7d avg +0.097%

Together, before fees+1.383%+$138 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$100 a day on $10k at the current rate, and Injective is 0.088% cheaper against Bulk than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.097%). Swap the legs. The two prices were read 103 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 -0.510% in total (about -52.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$4.18 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	Bulk ZEC-USD	1,451.2	0.0100	pay 0.0013% / 1h	33m 28s	$879K	$21K	10x
Short	Injective ZEC/USDC PERP	1,451.4	−0.3244	pay 0.0406% / 1h	33m 28s	$33K	$272K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Bulk. 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

Position, each leg$Hold fordaysFee BulkbpFee InjectivebpOrdersPrice spread, now +0.009%Rate

Funding earned: −$702.32
Price spread: +0.009% → +0.097%: −$8.76
Slippage, 4 orders: no order book: not counted
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$718.1
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Bulk: live order book, 31 min ago; Injective: live order book, 31 min ago. 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 Bulk live order book, 31 min ago	0.03 bp	3.5 bp −$4	4.9 bp −$49	8.5 bp −$850	14.6 bp −$7,278
Sell Injective live order book, 31 min ago	66.26 bp	doesn't fit	doesn't fit	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 PERPshort	−0.3244%	1h	1,451.4	+0.009%	$33K	$272K	12x
BloFin ZEC-USDT	−0.0080%	8h	1,453.2	+0.134%	$29.5M	$70.8M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,453.6	+0.163%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,452.8	+0.110%	$409K	$44K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,452.5	+0.087%	$1.4M	$5.0M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,451.7	+0.035%	$83K	$248K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,453.4	+0.150%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0041%	8h	1,453.4	+0.152%	$290K	$979K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0061% / S −0.0011%	1h	1,453.3	+0.146%	$408K	—	100x	as long as short
Phoenix ZEC	+0.0074%	1h	1,449.2	−0.140%	$4.6M	$1.4M	10x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex ZECUSDT	+0.0096%	1h	1,453.5	+0.157%	$173K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,452.7	+0.102%	$14K	$854K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,453.3	+0.140%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,453.6	+0.163%	$2.5M	$6.5M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,454	+0.191%	$756.7M	$433.8M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,453.2	+0.135%	$14.4M	$28.4M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,453.4	+0.151%	$1.7M	$2.6M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,453.7	+0.172%	$665.7M	$2.26B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,453.2	+0.137%	$266.1M	$611.0M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,453.7	+0.170%	$179.1M	$1.24B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,452.4	+0.081%	$394K	$432K	5x	as long as short
Bulk ZEC-USDlong	+0.0100%	1h	1,451.2	long leg	$879K	$21K	10x
Gate ZEC_USDT	+0.0100%	8h	1,453.3	+0.141%	$49.5M	$173.0M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,453.3	+0.146%	$213.5M	$774.8M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,453.1	+0.128%	$102.1M	$56.1M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,453.4	+0.150%	$161.4M	$277.7M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,453.4	+0.152%	—	$6.7M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,454.5	+0.226%	$2.4M	$3.8M	15x	as long as short
Variational Omni ZEC	+0.0100%	8h	1,448.7	−0.173%	$46.8M	$32.3M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,451	−0.013%	$565K	$8.9M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,453.8	+0.179%	$3.0M	$419K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,452.9	+0.116%	$408K	$905K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,452.9	+0.113%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,452.5	+0.088%	$323K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,453.7	+0.168%	$160K	$185K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,452.1	+0.062%	$443K	$521K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,456.4	+0.353%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,453.7	+0.170%	$232K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,451.2	−0.001%	$2.6M	$18.4M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,454.2	+0.201%	$3.8M	$5.1M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,452.9	+0.119%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,453.3	+0.143%	$47K	$156K	20x	as long as short
01 Exchange ZECUSD	+0.0120%	1h	1,454	+0.194%	$8K	$7K	5x	as long as short
Kraken Futures PF_ZECUSD	+0.0196%	1h	1,453.9	+0.186%	$17.9M	$44.5M	25x	as long as short
Lighter ZEC	+0.0200%	1h	1,454.5	+0.228%	$19.0M	$46.4M	20x	as long as short
Arcus ZEC-USD	+0.0277%	1h	1,455.5	+0.298%	$714K	$8.5M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0320%	1h	1,454	+0.194%	$611K	$1.3M	25x	as long as short
Lighter RH ZEC	+0.0360%	1h	1,454.7	+0.237%	$2.0M	$6.9M	10x	as long as short
RISEx ZEC/USDC	+0.0409%	1h	1,453.8	+0.176%	$829K	$1.0M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0456%	1h	1,455.5	+0.293%	$3.7M	$9.1M	50x	as long as short
Aftermath Perps ZECUSD	+0.0713%	1h	1,454.2	+0.206%	$43K	$46K	10x	as long as short