Funding you earn now, next payment 22:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.13 per $10,000 · paid last 24h +0.002%
Price spread now: Deribit against Derive+0.215%122s7-day average +0.133% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.114%−$11 on $10k
+Price spread, last 3 days (all we have)−0.053%−$5 · spread now +0.215%, 7d avg +0.133%
=The price spread pays, funding is against you. Deribit is 0.082% dearer against Derive than usual: you sell high and buy low (spread +0.215% now, against its 7-day average of +0.133%): +$8 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.7 days. The two prices were read 122 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Derive ZEC-PERP | 1,456.4 | 0.0100 | pay 0.0013% / 1h | 9m 46s | $445K | $498K | 6.7x |
| Short | Deribit ZEC_USDC-PERPETUAL | 1,459.5 | 0 | get 0.0000% / 1h | 9m 46s | $594K | $1.3M | 25x |
Derive ZEC-PERP
Deribit ZEC_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Derive. 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
- −$21
- Price spread: +0.215% → +0.133%
- $8.15
- Slippage, 4 orders
- no order book: not counted
- Fee Derive: 3 bp × 2 orders
- −$6
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$25.85
- Costs to cover
- 0.130%
- Break-even
- never at this rate
Slippage unknown: Derive: no order-book sample; Deribit: live order book, 4 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 Derive no order-book sample | — | — | — | — | — |
| Sell Deribit live order book, 4 min ago | 4.63 bp | 8.1 bp −$8 | 13.2 bp −$132 | doesn't fit | doesn't fit |
Derive: 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 | 1,433.1 | −1.597% | $33K | $275K | 12x | as long as short |
| BloFin ZEC-USDT | −0.0086% | 8h | 1,456.8 | +0.029% | $28.8M | $75.3M | 75x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,457.5 | +0.079% | $6K | $2K | 10x | as long as short |
| Kraken Futures PF_ZECUSD | −0.0071% | 1h | 1,458.4 | +0.140% | $17.7M | $44.7M | 25x | as long as short |
| Bybit ZECUSDT | −0.0018% | 8h | 1,458 | +0.112% | $269.2M | $677.2M | 75x | as long as short |
| Variational Omni ZEC | −0.0004% | 8h | 1,455.9 | −0.032% | $45.6M | $33.4M | — | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,458.4 | +0.139% | $411K | $106K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,458.9 | +0.174% | $934K | $5.7M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,458.6 | +0.154% | $83K | $401K | 10x | as long as short |
| Deribit ZEC_USDC-PERPETUALshort | 0.0000% | 1h | 1,459.5 | +0.215% | $594K | $1.3M | 25x |
Injective ZEC/USDC PERP
BloFin ZEC-USDT
Hotstuff ZEC-PERP
Kraken Futures PF_ZECUSD
Bybit ZECUSDT
Variational Omni ZEC
dYdX ZEC-USD
Kalshi KXZECPERP
Perpl ZECShow 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 | 1,459.2 | +0.193% | $5.2M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0016% | 8h | 1,458.5 | +0.145% | $292K | $1.5M | 20x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0017% / S +0.0074% | 1h | 1,459 | +0.178% | $558K | — | 100x | as long as short |
| Ondo Perps ZEC-USD.P | +0.0039% | 1h | 1,455.9 | −0.034% | $395K | $514K | 5x | as long as short |
| 01 Exchange ZECUSD | +0.0040% | 1h | 1,459.3 | +0.202% | $8K | $8K | 5x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0057% | 8h | 1,459.1 | +0.184% | $174.2M | $1.36B | 50x | as long as short |
| Gate ZEC_USDT | +0.0063% | 8h | 1,458.6 | +0.151% | $49.3M | $191.0M | 75x | as long as short |
| Katana Perps ZEC-USD | +0.0095% | 8h | 1,459.2 | +0.191% | $15K | $865K | 10x | as long as short |
| Lighter ZEC | +0.0096% | 1h | 1,460.1 | +0.257% | $18.9M | $54.7M | 20x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,459.1 | +0.185% | $173K | $2.0M | 50x | as long as short |
| Aster ZECUSDT | +0.0098% | 8h | 1,458.6 | +0.154% | $15.4M | $33.9M | 75x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,459.3 | +0.196% | $60K | $39K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,458.8 | +0.165% | $2.5M | $7.1M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,459.8 | +0.234% | $755.1M | $493.3M | 10x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,458.9 | +0.171% | $1.6M | $3.0M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,458.9 | +0.170% | $666.1M | $2.53B | 75x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,458.8 | +0.162% | $218.8M | $899.4M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,458.8 | +0.167% | $103.2M | $57.0M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,458.9 | +0.174% | $161.5M | $312.2M | 75x | as long as short |
| BingX ZEC-USDT | +0.0100% | 8h | 1,458.9 | +0.171% | — | $101.6M | — | as long as short |
| Backpack ZEC_USDC_PERP | +0.0100% | 1h | 1,459.4 | +0.206% | $2.3M | $4.1M | 15x | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,457.1 | +0.048% | $489K | $9.6M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,458.5 | +0.145% | $3.0M | $492K | 10x | as long as short |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,458 | +0.108% | $428K | $814K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,457.6 | +0.085% | $109K | $4.8M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,459 | +0.179% | $344K | $2.0M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,458.6 | +0.151% | $127K | $161K | 20x | as long as short |
| Derive ZEC-PERPlong | +0.0100% | 1h | 1,456.4 | long leg | $445K | $498K | 6.7x | |
| SunX ZEC-USDT | +0.0100% | 8h | 1,460.7 | +0.297% | $3K | $1.3M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,458.6 | +0.151% | $221K | $4.7M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,459 | +0.179% | $2.4M | $24.9M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,458.8 | +0.163% | $3.8M | $5.4M | 50x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,456.7 | +0.021% | $897K | $26K | 10x | as long as short |
| Phoenix ZEC | +0.0103% | 1h | 1,458.5 | +0.147% | $4.6M | $1.6M | 10x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,459.3 | +0.200% | $3.3M | $6.9M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,458.7 | +0.157% | $36K | $362K | 20x | as long as short |
| RISEx ZEC/USDC | +0.0219% | 1h | 1,459.9 | +0.241% | $848K | $1.8M | 10x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0440% | 1h | 1,461 | +0.315% | $3.7M | $11.6M | 50x | as long as short |
| Aftermath Perps ZECUSD | +0.0478% | 1h | 1,458.3 | +0.134% | $40K | $34K | 10x | as long as short |
| Arcus ZEC-USD | +0.0518% | 1h | 1,460.2 | +0.262% | $748K | $8.0M | 10x | as long as short |
| Lighter RH ZEC | +0.0592% | 1h | 1,460.8 | +0.300% | $2.0M | $8.5M | 10x | as long as short |
gTrade (Gains Network) ZEC/USD
Orderly PERP_ZEC_USDC
GMX ZEC/USD [WBTC.b-USDC]
Ondo Perps ZEC-USD.P
01 Exchange ZECUSD
OKX ZEC-USDT-SWAP
Gate ZEC_USDT
Katana Perps ZEC-USD
Lighter ZEC
Popdex ZECUSDT
Aster ZECUSDT
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Hyperliquid ZEC
Pacifica ZEC
Binance ZECUSDT
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDT
Backpack ZEC_USDC_PERP
edgeX ZECUSDC
GRVT ZEC_USDT_Perp
ApeX Omni ZECUSDT
StandX ZEC-USD
Polymarket Perps ZEC-USD
Bullet ZEC-USD
SunX ZEC-USDT
SoDEX ZEC-USD
HTX ZEC-USDT
Phemex ZECUSDT
Bulk ZEC-USD
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