ZEC

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.3614%/8h= −395.8% APRnext payment −$4.52 per $10,000 · paid last 24h −0.692%

Price spread now: Injective against Coinbase International−0.256%7-day average −0.056% · you buy dearer than you sell

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

Long on Coinbase International Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−2.400%−$240 on $10k

Price spread, last 4 days (all we have)+0.432%+$43 · spread now −0.256%, 7d avg −0.056%

Together, before fees−1.968%−$197 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$108 a day on $10k at the current rate, and Injective is 0.200% cheaper against Coinbase International than usual: you would sell low and buy high (−$20 if the spread goes back to its 7-day average of −0.056%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -2.400% in total (about -125.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$4.52 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	Coinbase International ZEC-PERP-INTX	1,464.4	0.0448	pay 0.0056% / 1h	22m 29s	$3.8M	$9.1M	50x
Short	Injective ZEC/USDC PERP	1,460.6	−0.3166	pay 0.0396% / 1h	22m 29s	$34K	$272K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Coinbase International. 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 Coinbase InternationalbpFee InjectivebpOrdersPrice spread, now −0.256%Rate

Funding earned: −$758.98
Price spread: −0.256% → −0.056%: −$19.98
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$788.98
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Coinbase International: live order book, 2 min ago; Injective: live order book, 37 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 Coinbase International live order book, 2 min ago	2.73 bp	12.4 bp −$12	15.9 bp −$159	48.1 bp −$4,810	doesn't fit
Sell Injective live order book, 37 min ago	48.95 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	−0.3166%	1h	1,460.6	−0.256%	$34K	$272K	12x
Hotstuff ZEC-PERP	−0.0080%	1h	1,461.6	−0.190%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0069%	8h	1,461.3	−0.210%	$29.3M	$71.1M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,461.4	−0.201%	$412K	$38K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,461.9	−0.171%	$1.5M	$4.5M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,461	−0.234%	$84K	$240K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,461.3	−0.208%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0063%	8h	1,461.3	−0.209%	$292K	$952K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0068% / S −0.0019%	1h	1,461.2	−0.218%	$410K	—	100x	as long as short
01 Exchange ZECUSD	+0.0080%	1h	1,462.4	−0.137%	$8K	$7K	5x	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	1,462.1	−0.157%	$174K	$1.7M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,462.2	−0.147%	$11K	$856K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,462.4	−0.135%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,462.5	−0.125%	$2.8M	$6.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,463.1	−0.089%	$760.5M	$431.7M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,462.7	−0.113%	$14.6M	$28.0M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,462.4	−0.137%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,461.4	−0.204%	$671.7M	$2.21B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,460.6	−0.255%	$263.7M	$600.7M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,461.6	−0.190%	$178.4M	$1.23B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,455.7	−0.593%	$396K	$441K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,457.2	−0.489%	$880K	$18K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,462.4	−0.132%	$50.8M	$174.5M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,461.7	−0.182%	$215.1M	$773.1M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,461.8	−0.174%	$102.8M	$53.9M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,462	−0.162%	$166.5M	$271.0M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,460.9	−0.239%	—	$103.3M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,462.1	−0.158%	$2.4M	$3.8M	15x	as long as short
Variational Omni ZEC	+0.0100%	8h	1,457.9	−0.444%	$47.8M	$32.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,459.9	−0.304%	$569K	$8.6M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,457.4	−0.480%	$3.0M	$437K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,460.5	−0.263%	$407K	$927K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,461.1	−0.222%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,461.6	−0.190%	$367K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,461.1	−0.223%	$160K	$185K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,460.6	−0.260%	$446K	$521K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,462.6	−0.124%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,461.6	−0.191%	$234K	$3.4M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,460.3	−0.277%	$2.7M	$18.4M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,461.1	−0.224%	$3.8M	$5.1M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,462.2	−0.149%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,461.2	−0.218%	$47K	$151K	20x	as long as short
Phoenix ZEC	+0.0123%	1h	1,461.2	−0.219%	$4.6M	$1.3M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0128%	1h	1,462.1	−0.159%	$612K	$1.3M	25x	as long as short
Kraken Futures PF_ZECUSD	+0.0276%	1h	1,461.5	−0.195%	$18.1M	$45.0M	25x	as long as short
Lighter ZEC	+0.0280%	1h	1,463.5	−0.060%	$19.3M	$46.0M	20x	as long as short
RISEx ZEC/USDC	+0.0412%	1h	1,462.3	−0.142%	$925K	$1.1M	10x	as long as short
Lighter RH ZEC	+0.0432%	1h	1,463.7	−0.044%	$2.1M	$7.0M	10x	as long as short
Coinbase International ZEC-PERP-INTXlong	+0.0448%	1h	1,464.4	long leg	$3.8M	$9.1M	50x
Arcus ZEC-USD	+0.0626%	1h	1,463.1	−0.086%	$688K	$8.3M	10x	as long as short
Aftermath Perps ZECUSD	+0.0682%	1h	1,459.5	−0.332%	$45K	$49K	10x	as long as short