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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+0.0197%/8h= +21.6% APRnext payment +$0.25 per $10,000 · paid last 24h +0.046%
Price spread now: SoDEX against Kraken Futures+0.010%7-day average −0.026% · 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−$26as in the Price arb table
costs, in and out, $10k−$300.295% of the position
Long on Kraken FuturesShort on SoDEX
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.041%+$4 on $10k
Price spread, last 4 days (all we have)−0.051%−$5 · spread now +0.010%, 7d avg −0.026%
Together, before fees−0.010%−$1 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and SoDEX is 0.036% dearer against Kraken Futures than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.026%.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.041% in total (about 4.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.25 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
LongKraken Futures PF_ZECUSD1,483.2−0.0097get 0.0012% / 1h41m 32s$18.0M$46.5M25x
ShortSoDEX ZEC-USD1,483.40.0100get 0.0013% / 1h41m 32s$253K$3.5M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

SoDEX against Kraken Futures. 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
$41.34
Price spread: +0.010% → −0.026%
$3.59
Slippage, 4 orders
−$11.52
Fee Kraken Futures: 5 bp × 2 orders
−$10
Fee SoDEX: 4 bp × 2 orders
−$8
Net
$15.41
Costs to cover
0.295%
Break-even
4.4 days
Slippage from Kraken Futures: live order book, 3 min ago; SoDEX: live order book, 3 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 Kraken Futures live order book, 3 min ago2.26 bp11.6 bp −$1216.1 bp −$16124.0 bp −$2,404106.6 bp −$53.3K
Sell SoDEX live order book, 3 min ago0.17 bp4.8 bp −$516.6 bp −$166doesn't fitdoesn't fit

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 PERP−0.3684%1h1,484.2+0.063%$34K$273K12xas long as short
Bulk ZEC-USD−0.0118%1h1,480.8−0.164%$895K$15K10xas long as short
BloFin ZEC-USDT−0.0116%8h1,481.3−0.132%$30.7M$73.6M75xas long as short
Kraken Futures PF_ZECUSDlong−0.0097%1h1,483.2long leg$18.0M$46.5M25x
Hotstuff ZEC-PERP−0.0080%1h1,483−0.015%$6K$1K10xas long as short
dYdX ZEC-USD0.0000%1h1,482.9−0.024%$412K$35K5xas long as short
Kalshi KXZECPERP0.0000%8h1,482.6−0.042%$1.6M$4.6M2.2xas long as short
Perpl ZEC0.0000%43m1,484.2+0.066%$61K$297K10xas long as short
gTrade (Gains Network) ZEC/USDL +0.0007% / S −0.0006%1h1,484.8+0.104%$5.3M—150xas long as short
Orderly PERP_ZEC_USDC+0.0074%8h1,483−0.018%$298K$1.1M20xas long as short
Show all 51 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Popdex ZECUSDT+0.0096%1h1,484.7+0.097%$159K$1.7M50xas long as short
Nado ZEC-PERP+0.0100%1h1,482.7−0.039%$2.8M$6.7M10xas long as short
Aster ZECUSDT+0.0100%8h1,484.3+0.069%$13.9M$30.8M75xas long as short
Pacifica ZEC+0.0100%1h1,484.4+0.079%$1.7M$2.4M10xas long as short
Binance ZECUSDT+0.0100%8h1,484.8+0.102%$691.2M$2.29B75xas long as short
Bybit ZECUSDT+0.0100%8h1,484.5+0.086%$269.9M$625.2M75xas long as short
OKX ZEC-USDT-SWAP+0.0100%8h1,484.4+0.075%$179.6M$1.31B50xas long as short
Ondo Perps ZEC-USD.P+0.0100%1h1,484.2+0.064%$405K$505K5xas long as short
Gate ZEC_USDT+0.0100%8h1,484.7+0.098%$54.3M$181.1M75xas long as short
MEXC ZEC_USDT+0.0100%8h1,484.7+0.101%$239.2M$778.3M150xas long as short
KuCoin ZECUSDTM+0.0100%8h1,484.8+0.103%$101.9M$57.2M75xas long as short
Bitget ZECUSDT+0.0100%8h1,484.7+0.101%$160.1M$288.1M75xas long as short
BingX ZEC-USDC+0.0100%8h1,483.5+0.018%—$6.7M—as long as short
Backpack ZEC_USDC_PERP+0.0100%1h1,484.1+0.060%$2.3M$3.9M15xas long as short
Variational Omni ZEC+0.0100%8h1,484.4+0.076%$48.5M$33.9M—as long as short
edgeX ZECUSDC+0.0100%4h1,484.8+0.103%$568K$8.9M20xas long as short
GRVT ZEC_USDT_Perp+0.0100%8h1,481.4−0.125%$3.0M$488K10xas long as short
ApeX Omni ZECUSDT+0.0100%1h1,486.5+0.219%$411K$933K50xas long as short
StandX ZEC-USD+0.0100%1h1,483−0.019%$56K$4.6M30xas long as short
Polymarket Perps ZEC-USD+0.0100%1h1,484.1+0.057%$358K$1.7M10xas long as short
Bullet ZEC-USD+0.0100%1h1,484.6+0.094%$163K$185K20xas long as short
Derive ZEC-PERP+0.0100%1h1,482.1−0.078%$452K$500K6.7xas long as short
SunX ZEC-USDT+0.0100%8h1,485.2+0.134%$3K$1.2M20xas long as short
SoDEX ZEC-USDshort+0.0100%1h1,483.4+0.010%$253K$3.5M10x
HTX ZEC-USDT+0.0100%8h1,481−0.152%$2.6M$19.5M75xas long as short
Phemex ZECUSDT+0.0100%8h1,483.4+0.008%$4.0M$5.0M50xas long as short
Paradex ZEC-USD-PERP+0.0100%8h1,484.6+0.089%$61K$43K10xas long as short
Katana Perps ZEC-USD+0.0100%8h1,484.4+0.075%$11K$862K10xas long as short
Extended ZEC-USD+0.0104%1h1,484.4+0.079%$2.8M$7.9M10xas long as short
Aevo ZEC-PERP+0.0104%1h1,482.9−0.023%$42K$152K20xas long as short
GMX ZEC/USD [WBTC.b-USDC]L +0.0125% / S −0.0114%1h1,482.9−0.023%$430K—100xas long as short
01 Exchange ZECUSD+0.0128%1h1,485.2+0.133%$8K$7K5xas long as short
RISEx ZEC/USDC+0.0129%1h1,485+0.120%$929K$1.2M10xas long as short
Phoenix ZEC+0.0134%1h1,485.3+0.137%$4.7M$1.4M10xas long as short
Aftermath Perps ZECUSD+0.0165%1h1,484.1+0.055%$47K$64K10xas long as short
Hyperliquid ZEC+0.0202%1h1,486+0.186%$772.1M$441.5M10xas long as short
Arcus ZEC-USD+0.0221%1h1,486.6+0.224%$628K$8.6M10xas long as short
Lighter ZEC+0.0280%1h1,485.8+0.175%$19.4M$45.6M20xas long as short
Lighter RH ZEC+0.0280%1h1,485.9+0.179%$2.1M$7.3M10xas long as short
Deribit ZEC_USDC-PERPETUAL+0.0288%1h1,483.9+0.044%$706K$1.4M25xas long as short
Coinbase International ZEC-PERP-INTX+0.0480%1h1,483.5+0.020%$3.6M$9.9M50xas long as short