Funding you earn now, next payment 01:00 UTC+0.0411%/8h= +45.0% APRpaid last 24h +0.008%
Price spread now: Backpack against Phemex+0.067%7-day average −0.028% · you sell dearer than you buy
Net, funding: paid 7d − costs−$66as in the Funding arb table
Net, price: spread back to 7d avg − costs−$37as in the Price arb table
costs, in and out, $10k−$460.465% of the position
Funding, last 7 days−0.199%−$20 on $10k
+Price spread, last 3 days (all we have)−0.295%−$30 · spread now +0.067%, 7d avg −0.028%
=Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Backpack is 0.096% dearer against Phemex than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.028%. Mind the row above: over the last 7 days funding on this pair cost −0.199%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.199% in total (about -10.4% a year). A funding rate is set anew for every payment. 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 | Phemex ZECUSDT | 1,470.2 | 0.0100 | pay 0.0100% / 8h | 7h 07m | $3.8M | $5.4M | 50x |
| Short | Backpack ZEC_USDC_PERP | 1,471.2 | 0.0511 | get 0.0064% / 1h | 7m 56s | $2.5M | $3.9M | 15x |
Phemex ZECUSDT
Backpack ZEC_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Phemex. 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
- $86.22
- Price spread: +0.067% → −0.028%
- $9.56
- Slippage, 4 orders
- −$24.47
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $49.3
- Costs to cover
- 0.465%
- Break-even
- 3.0 days
Slippage from Phemex: live order book, 6 min ago; Backpack: live order book, 6 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 Phemex live order book, 6 min ago | 1.23 bp | 17.1 bp −$17 | doesn't fit | doesn't fit | doesn't fit |
| Sell Backpack live order book, 6 min ago | 0.03 bp | 5.6 bp −$6 | 16.6 bp −$166 | 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 PERP | −0.3321% | 1h | 1,468 | −0.148% | $34K | $275K | 12x | as long as short |
| Kraken Futures PF_ZECUSD | −0.0343% | 1h | 1,469.7 | −0.032% | $17.9M | $43.0M | 25x | as long as short |
| BloFin ZEC-USDT | −0.0116% | 8h | 1,469.5 | −0.044% | $29.7M | $72.4M | 75x | as long as short |
| Ondo Perps ZEC-USD.P | −0.0116% | 1h | 1,467.7 | −0.169% | $398K | $517K | 5x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,469.6 | −0.041% | $6K | $2K | 10x | as long as short |
| Variational Omni ZEC | −0.0021% | 8h | 1,466.4 | −0.260% | $47.6M | $33.6M | — | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,469 | −0.083% | $414K | $103K | 5x | as long as short |
| 01 Exchange ZECUSD | 0.0000% | 1h | 1,470.6 | +0.027% | $8K | $9K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,469 | −0.084% | $960K | $5.2M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,470.1 | −0.004% | $84K | $405K | 10x | as long as short |
Injective ZEC/USDC PERP
Kraken Futures PF_ZECUSD
BloFin ZEC-USDT
Ondo Perps ZEC-USD.P
Hotstuff ZEC-PERP
Variational Omni ZEC
dYdX ZEC-USD
01 Exchange ZECUSD
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 | 1,469.3 | −0.059% | $5.2M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0021% | 8h | 1,469.3 | −0.058% | $293K | $1.1M | 20x | as long as short |
| Phoenix ZEC | +0.0054% | 1h | 1,469.7 | −0.033% | $4.6M | $1.6M | 10x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0055% / S −0.0010% | 1h | 1,469.5 | −0.044% | $378K | — | 100x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0065% | 8h | 1,471.4 | +0.080% | $181.6M | $1.29B | 50x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,470.2 | +0.003% | $173K | $1.9M | 50x | as long as short |
| Katana Perps ZEC-USD | +0.0100% | 8h | 1,469.7 | −0.033% | $12K | $847K | 10x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,470.1 | −0.005% | $61K | $39K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,470.5 | +0.020% | $2.6M | $6.5M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,470.7 | +0.035% | $765.8M | $450.9M | 10x | as long as short |
| Aster ZECUSDT | +0.0100% | 8h | 1,470 | −0.014% | $14.9M | $31.4M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,470.1 | −0.005% | $1.7M | $2.8M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,471.2 | +0.069% | $683.8M | $2.35B | 75x | as long as short |
| Bybit ZECUSDT | +0.0100% | 8h | 1,471.2 | +0.068% | $273.5M | $628.7M | 75x | as long as short |
| Arcus ZEC-USD | +0.0100% | 1h | 1,471.4 | +0.083% | $695K | $8.6M | 10x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,465.9 | −0.293% | $892K | $22K | 10x | as long as short |
| Gate ZEC_USDT | +0.0100% | 8h | 1,470.2 | +0.003% | $50.3M | $181.9M | 75x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,471.3 | +0.073% | $219.4M | $831.4M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,469.9 | −0.019% | $104.5M | $55.1M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,471.4 | +0.082% | $163.7M | $290.0M | 75x | as long as short |
| BingX ZEC-USDC | +0.0100% | 8h | 1,470.5 | +0.022% | — | $6.7M | — | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,466.3 | −0.262% | $571K | $9.1M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,467.2 | −0.200% | $3.0M | $447K | 10x | as long as short |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,466.9 | −0.226% | $427K | $880K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,469.2 | −0.069% | $71K | $4.7M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,470 | −0.012% | $341K | $1.7M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,469.5 | −0.043% | $128K | $158K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,467.8 | −0.163% | $457K | $510K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,472.5 | +0.155% | $3K | $1.2M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,469.6 | −0.041% | $242K | $3.9M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,468.3 | −0.128% | $2.5M | $19.2M | 75x | as long as short |
| Phemex ZECUSDTlong | +0.0100% | 8h | 1,470.2 | long leg | $3.8M | $5.4M | 50x | |
| Extended ZEC-USD | +0.0104% | 1h | 1,471.2 | +0.070% | $3.2M | $7.0M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,469.2 | −0.065% | $55K | $161K | 20x | as long as short |
| Deribit ZEC_USDC-PERPETUAL | +0.0189% | 1h | 1,470.1 | −0.002% | $605K | $1.3M | 25x | as long as short |
| RISEx ZEC/USDC | +0.0228% | 1h | 1,470.9 | +0.052% | $854K | $1.0M | 10x | as long as short |
| Lighter ZEC | +0.0240% | 1h | 1,471.7 | +0.100% | $19.2M | $50.6M | 20x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0448% | 1h | 1,472 | +0.127% | $3.7M | $9.6M | 50x | as long as short |
| Backpack ZEC_USDC_PERPshort | +0.0511% | 1h | 1,471.2 | +0.067% | $2.5M | $3.9M | 15x | |
| Lighter RH ZEC | +0.0712% | 1h | 1,471.7 | +0.102% | $2.0M | $8.3M | 10x | as long as short |
| Aftermath Perps ZECUSD | +0.0758% | 1h | 1,468.7 | −0.099% | $43K | $46K | 10x | as long as short |
gTrade (Gains Network) ZEC/USD
Orderly PERP_ZEC_USDC
Phoenix ZEC
GMX ZEC/USD [WBTC.b-USDC]
OKX ZEC-USDT-SWAP
Popdex ZECUSDT
Katana Perps ZEC-USD
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Hyperliquid ZEC
Aster ZECUSDT
Pacifica ZEC
Binance ZECUSDT
Bybit ZECUSDT
Arcus ZEC-USD
Bulk ZEC-USD
Gate ZEC_USDT
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDC
edgeX ZECUSDC
GRVT ZEC_USDT_Perp
ApeX Omni ZECUSDT
StandX ZEC-USD
Polymarket Perps ZEC-USD
Bullet ZEC-USD
Derive ZEC-PERP
SunX ZEC-USDT
SoDEX ZEC-USD
HTX ZEC-USDT
Extended ZEC-USD
Aevo ZEC-PERP
Deribit ZEC_USDC-PERPETUAL
RISEx ZEC/USDC
Lighter ZEC
Coinbase International ZEC-PERP-INTX
Lighter RH ZEC
Aftermath Perps ZECUSD