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Funding arb · Price arb /

ZEC

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 07:00 UTC+0.3588%/8h= +392.9% APRnext payment +$4.48 per $10,000 · paid last 24h +0.678%
Price spread now: Kraken Futures against Injective+0.711%7-day average −0.028% · you sell dearer than you buy
Net, funding: paid 7d − costs−$497.6Kas in the Funding arb table
Net, price: spread back to 7d avg − costs−$497.8Kas in the Price arb table
costs, in and out, $10k−$497.9K4978.612% of the position
Long on InjectiveShort on Kraken Futures
What this pair did over the last
the charts below follow
Funding, last 7 days+2.121%+$212 on $10k
Price spread, last 4 days (all we have)−0.390%−$39 · spread now +0.711%, 7d avg −0.028%
Together, before fees+1.731%+$173 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$108 a day on $10k at the current rate, and Kraken Futures is 0.739% dearer against Injective than usual: you sell high and buy low: +$74 more if the spread goes back to its 7-day average of −0.028%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 2.121% in total (about 110.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$4.48 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongInjective ZEC/USDC PERP1,481−0.3684get 0.0461% / 1h0m 34s$36K$275K12x
ShortKraken Futures PF_ZECUSD1,491.5−0.0096pay 0.0012% / 1h0m 34s$18.1M$46.6M25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kraken Futures 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

Funding earned
$753.46
Price spread: +0.711% → −0.028%
$73.85
Slippage, 4 orders
−$497,851.19
Fee Injective: 0.01 bp × 2 orders
−$0.02
Fee Kraken Futures: 5 bp × 2 orders
−$10
Net
−$497,033.9
Costs to cover
4978.612%
Break-even
4624.7 days
Slippage from Injective: live order book, 43 min ago; Kraken Futures: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Injective live order book, 43 min ago46.83 bp491284.0 bp −$491.3K4969666.0 bp −$49.70M49458632.0 bp −$4945.86M246450688.0 bp −$123225.34M
Sell Kraken Futures live order book, 4 min ago1.84 bp10.3 bp −$1014.2 bp −$14224.9 bp −$2,486152.5 bp −$76.2K

ZEC on 51 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective ZEC/USDC PERPlong−0.3684%1h1,481long leg$36K$275K12x
Perpl ZEC−0.0447%43m1,490.5+0.645%$61K$304K10xas long as short
BloFin ZEC-USDT−0.0144%8h1,491.1+0.683%$30.8M$75.0M75xas long as short
Kraken Futures PF_ZECUSDshort−0.0096%1h1,491.5+0.711%$18.1M$46.6M25x
Hotstuff ZEC-PERP−0.0080%1h1,493.1+0.815%$6K$1K10xas long as short
Aftermath Perps ZECUSD−0.0020%1h1,493.6+0.852%$48K$64K10xas long as short
dYdX ZEC-USD0.0000%1h1,490.1+0.614%$414K$35K5xas long as short
Kalshi KXZECPERP0.0000%8h1,493.1+0.819%$1.5M$4.7M2.2xas long as short
gTrade (Gains Network) ZEC/USDL +0.0007% / S −0.0006%1h1,492+0.746%$5.3M—150xas long as short
Deribit ZEC_USDC-PERPETUAL+0.0046%1h1,492.2+0.760%$681K$1.4M25xas long as short
Show all 51 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Orderly PERP_ZEC_USDC+0.0081%8h1,491.4+0.706%$300K$1.1M20xas long as short
Bulk ZEC-USD+0.0085%1h1,492.9+0.806%$902K$7K10xas long as short
Popdex ZECUSDT+0.0096%1h1,490.9+0.671%$170K$1.8M50xas long as short
Katana Perps ZEC-USD+0.0098%8h1,490.9+0.666%$12K$876K10xas long as short
Paradex ZEC-USD-PERP+0.0100%8h1,491.7+0.725%$61K$43K10xas long as short
Nado ZEC-PERP+0.0100%1h1,491.9+0.738%$3.1M$7.7M10xas long as short
Hyperliquid ZEC+0.0100%1h1,491.5+0.710%$778.7M$447.7M10xas long as short
Aster ZECUSDT+0.0100%8h1,490.3+0.628%$13.9M$31.1M75xas long as short
Pacifica ZEC+0.0100%1h1,491.1+0.687%$1.7M$2.4M10xas long as short
Binance ZECUSDT+0.0100%8h1,491+0.675%$694.9M$2.32B75xas long as short
Bybit ZECUSDT+0.0100%8h1,490.3+0.631%$267.0M$630.3M75xas long as short
OKX ZEC-USDT-SWAP+0.0100%8h1,491.1+0.681%$181.4M$1.34B50xas long as short
Ondo Perps ZEC-USD.P+0.0100%1h1,494.1+0.886%$407K$554K5xas long as short
Gate ZEC_USDT+0.0100%8h1,491.2+0.689%$55.0M$187.9M75xas long as short
MEXC ZEC_USDT+0.0100%8h1,490.8+0.660%$241.9M$801.3M150xas long as short
KuCoin ZECUSDTM+0.0100%8h1,490.7+0.658%$102.6M$57.3M75xas long as short
Bitget ZECUSDT+0.0100%8h1,491.2+0.689%$160.4M$289.6M75xas long as short
BingX ZEC-USDT+0.0100%8h1,491.3+0.696%—$118.0M—as long as short
Variational Omni ZEC+0.0100%8h1,489.9+0.603%$48.8M$34.7M—as long as short
edgeX ZECUSDC+0.0100%4h1,494.8+0.931%$572K$9.0M20xas long as short
GRVT ZEC_USDT_Perp+0.0100%8h1,493.7+0.860%$3.1M$510K10xas long as short
ApeX Omni ZECUSDT+0.0100%1h1,495.6+0.985%$412K$943K50xas long as short
StandX ZEC-USD+0.0100%1h1,493.5+0.845%$56K$4.6M30xas long as short
Polymarket Perps ZEC-USD+0.0100%1h1,490.7+0.656%$357K$1.8M10xas long as short
Bullet ZEC-USD+0.0100%1h1,491+0.675%$164K$184K20xas long as short
Derive ZEC-PERP+0.0100%1h1,493.1+0.816%$456K$500K6.7xas long as short
SunX ZEC-USDT+0.0100%8h1,494.1+0.884%$3K$1.2M20xas long as short
SoDEX ZEC-USD+0.0100%1h1,491.1+0.684%$254K$3.6M10xas long as short
HTX ZEC-USDT+0.0100%8h1,491.8+0.729%$2.7M$20.1M75xas long as short
Phemex ZECUSDT+0.0100%8h1,491.3+0.694%$4.0M$5.0M50xas long as short
Extended ZEC-USD+0.0104%1h1,491.3+0.695%$2.7M$7.9M10xas long as short
Aevo ZEC-PERP+0.0104%1h1,491.6+0.714%$43K$151K20xas long as short
01 Exchange ZECUSD+0.0112%1h1,491.6+0.716%$8K$7K5xas long as short
RISEx ZEC/USDC+0.0129%1h1,491.5+0.708%$939K$1.1M10xas long as short
Phoenix ZEC+0.0134%1h1,496.6+1.054%$4.8M$1.4M10xas long as short
GMX ZEC/USD [WBTC.b-USDC]L +0.0138% / S −0.0134%1h1,491.9+0.734%$392K—100xas long as short
Lighter RH ZEC+0.0176%1h1,491.9+0.737%$2.1M$7.5M10xas long as short
Arcus ZEC-USD+0.0221%1h1,492.4+0.768%$621K$8.8M10xas long as short
Lighter ZEC+0.0240%1h1,492.1+0.752%$19.6M$47.1M20xas long as short
Backpack ZEC_USDC_PERP+0.0262%1h1,491.4+0.704%$2.3M$3.9M15xas long as short
Coinbase International ZEC-PERP-INTX+0.0480%1h1,492.8+0.797%$3.7M$10.1M50xas long as short