ZEC

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.3784%/8h= +414.4% APRnext payment +$4.73 per $10,000 · paid last 24h +0.730%

Price spread now: Bullet against Injective+0.965%7-day average −0.073% · 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−$497.8Kas in the Price arb table

costs, in and out, $10k−$497.9K4978.540% of the position

Long on Injective Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.706%+$71 on $10k

Price spread, last 4 days (all we have)−0.996%−$100 · spread now +0.965%, 7d avg −0.073%

Together, before fees−0.290%−$29 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$114 a day on $10k at the current rate, and Bullet is 1.038% dearer against Injective than usual: you sell high and buy low: +$104 more if the spread goes back to its 7-day average of −0.073%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.706% in total (about 73.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$4.73 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	Injective ZEC/USDC PERP	1,481	−0.3684	get 0.0461% / 1h	3m 02s	$36K	$275K	12x
Short	Bullet ZEC-USD	1,495.3	0.0100	get 0.0013% / 1h	3m 02s	$164K	$184K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

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 InjectivebpFee BulletbpOrdersPrice spread, now +0.965%Rate

Funding earned: $794.68
Price spread: +0.965% → −0.073%: $103.78
Slippage, 4 orders: −$497,846.03
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$496,955.59
Costs to cover: 4978.540%
Break-even: 4384.5 days

Slippage from Injective: live order book, 41 min ago; Bullet: live order book, 41 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 Injective live order book, 41 min ago	46.83 bp	491284.0 bp −$491.3K	4969666.0 bp −$49.70M	49458632.0 bp −$4945.86M	246450688.0 bp −$123225.34M
Sell Bullet live order book, 41 min ago	0.41 bp	5.7 bp −$6	11.1 bp −$111	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 PERPlong	−0.3684%	1h	1,481	long leg	$36K	$275K	12x
Perpl ZEC	−0.0447%	43m	1,494.1	+0.885%	$61K	$304K	10x	as long as short
BloFin ZEC-USDT	−0.0143%	8h	1,493.6	+0.853%	$30.9M	$75.1M	75x	as long as short
Kraken Futures PF_ZECUSD	−0.0096%	1h	1,494.7	+0.927%	$18.1M	$46.6M	25x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,495.3	+0.966%	$6K	$1K	10x	as long as short
Aftermath Perps ZECUSD	−0.0006%	1h	1,495.4	+0.972%	$48K	$64K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,495	+0.945%	$415K	$35K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,495.6	+0.986%	$1.5M	$4.7M	2.2x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,494.4	+0.907%	$5.3M	—	150x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0074%	1h	1,495.5	+0.982%	$683K	$1.4M	25x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_ZEC_USDC	+0.0080%	8h	1,494.4	+0.908%	$301K	$1.1M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,494.8	+0.932%	$171K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0097%	8h	1,495.2	+0.960%	$12K	$876K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,494.6	+0.918%	$62K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,495.4	+0.975%	$3.1M	$7.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,493.3	+0.832%	$779.8M	$447.2M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,492.6	+0.782%	$13.9M	$31.1M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,495	+0.946%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,493.3	+0.832%	$696.0M	$2.31B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,492.7	+0.789%	$267.5M	$630.5M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,493.3	+0.832%	$182.2M	$1.34B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,494.1	+0.886%	$408K	$554K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,494.2	+0.895%	$903K	$7K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,493.6	+0.855%	$55.3M	$187.4M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,493.4	+0.835%	$242.5M	$800.0M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,493.4	+0.839%	$102.8M	$57.4M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,493.4	+0.839%	$160.6M	$289.8M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,492.2	+0.756%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,495.2	+0.958%	$48.9M	$34.8M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,494.8	+0.935%	$572K	$9.0M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,496.3	+1.036%	$3.1M	$510K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,495.6	+0.985%	$412K	$943K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,494.7	+0.924%	$56K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,495	+0.947%	$358K	$1.8M	10x	as long as short
Bullet ZEC-USDshort	+0.0100%	1h	1,495.3	+0.965%	$164K	$184K	20x
Derive ZEC-PERP	+0.0100%	1h	1,493.1	+0.816%	$456K	$500K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,497.4	+1.106%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,494.6	+0.920%	$255K	$3.6M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,496.2	+1.028%	$2.7M	$20.3M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,494.2	+0.891%	$4.0M	$5.0M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,493.5	+0.842%	$2.8M	$7.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,495	+0.949%	$43K	$151K	20x	as long as short
01 Exchange ZECUSD	+0.0120%	1h	1,495.3	+0.966%	$8K	$7K	5x	as long as short
RISEx ZEC/USDC	+0.0129%	1h	1,494.9	+0.940%	$939K	$1.1M	10x	as long as short
Phoenix ZEC	+0.0134%	1h	1,496.6	+1.054%	$4.8M	$1.4M	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0137% / S −0.0133%	1h	1,495.2	+0.958%	$393K	—	100x	as long as short
Lighter RH ZEC	+0.0184%	1h	1,495.2	+0.957%	$2.1M	$7.5M	10x	as long as short
Arcus ZEC-USD	+0.0221%	1h	1,495.5	+0.977%	$612K	$8.8M	10x	as long as short
Lighter ZEC	+0.0256%	1h	1,495.2	+0.959%	$19.6M	$47.1M	20x	as long as short
Backpack ZEC_USDC_PERP	+0.0261%	1h	1,493.6	+0.853%	$2.3M	$3.9M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0480%	1h	1,495.4	+0.973%	$3.7M	$10.1M	50x	as long as short