ZEC

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0198%/8h= −21.7% APRnext payment −$0.25 per $10,000 · paid last 24h −0.016%

Price spread now: Bulk against Popdex+0.044%7-day average −0.029% · 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−$10as in the Price arb table

costs, in and out, $10k−$180.177% of the position

Long on Popdex Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.045%−$4 on $10k

Price spread, last 4 days (all we have)−0.011%−$1 · spread now +0.044%, 7d avg −0.029%

Together, before fees−0.055%−$6 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bulk is 0.073% dearer against Popdex than usual: you sell high and buy low (spread +0.044% now, against its 7-day average of −0.029%): +$7 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 29 hours. At the pace of the last 4 days (−0.045% in total) that is about 5.9 days.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.045% in total (about -4.5% 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.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex ZECUSDT	1,493.9	0.0096	pay 0.0012% / 1h	55m 46s	$157K	$1.7M	50x
Short	Bulk ZEC-USD	1,494.5	−0.0102	pay 0.0013% / 1h	55m 46s	$903K	$15K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Popdex. 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 PopdexbpFee BulkbpOrdersPrice spread, now +0.044%Rate

Funding earned: −$41.67
Price spread: +0.044% → −0.029%: $7.26
Slippage, 4 orders: −$4.32
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$52.13
Costs to cover: 0.177%
Break-even: never at this rate

Slippage from Popdex: live order book, 3 min ago; Bulk: live order book, 53 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 Popdex live order book, 3 min ago	1.27 bp	5.0 bp −$5	14.4 bp −$144	doesn't fit	doesn't fit
Sell Bulk live order book, 53 min ago	0.34 bp	3.8 bp −$4	4.6 bp −$46	7.3 bp −$727	14.3 bp −$7,141

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	−0.3684%	1h	1,491.6	−0.154%	$34K	$273K	12x	as long as short
BloFin ZEC-USDT	−0.0117%	8h	1,493.5	−0.024%	$30.6M	$74.0M	75x	as long as short
Bulk ZEC-USDshort	−0.0102%	1h	1,494.5	+0.044%	$903K	$15K	10x
Kraken Futures PF_ZECUSD	−0.0096%	1h	1,493.8	−0.007%	$18.1M	$46.3M	25x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,490.4	−0.236%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,493.8	−0.007%	$415K	$35K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,494.2	+0.021%	$1.6M	$4.6M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,492.3	−0.107%	$61K	$288K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,493.9	0.000%	$5.3M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0071%	8h	1,493.7	−0.013%	$300K	$1.1M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix ZEC	+0.0092%	1h	1,493.6	−0.017%	$4.7M	$1.4M	10x	as long as short
Popdex ZECUSDTlong	+0.0096%	1h	1,493.9	long leg	$157K	$1.7M	50x
Nado ZEC-PERP	+0.0100%	1h	1,494.3	+0.028%	$2.8M	$6.6M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,494.3	+0.028%	$14.2M	$29.5M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,494	+0.007%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,494.4	+0.035%	$696.0M	$2.29B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,494.4	+0.034%	$270.3M	$627.3M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,494.2	+0.021%	$181.2M	$1.32B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,488.1	−0.387%	$405K	$478K	5x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,494.8	+0.060%	$54.4M	$178.2M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,495.2	+0.087%	$235.3M	$770.4M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,494.7	+0.056%	$102.7M	$56.3M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,494.3	+0.025%	$161.1M	$286.7M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,494.3	+0.026%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,493.6	−0.019%	$48.8M	$33.6M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,489.7	−0.279%	$569K	$8.8M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,495.8	+0.129%	$3.1M	$477K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,494.4	+0.032%	$414K	$931K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,490.6	−0.222%	$57K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,493.8	−0.005%	$361K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,493.9	+0.003%	$165K	$185K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,492.7	−0.079%	$456K	$500K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,496.3	+0.165%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,493.8	−0.008%	$254K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,492.6	−0.084%	$2.6M	$19.6M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,494.2	+0.022%	$4.0M	$5.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,494.2	+0.025%	$62K	$43K	10x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,493.4	−0.031%	$12K	$861K	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,495.2	+0.086%	$2.8M	$7.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,493.5	−0.024%	$45K	$149K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0105% / S −0.0079%	1h	1,493.6	−0.016%	$374K	—	100x	as long as short
01 Exchange ZECUSD	+0.0128%	1h	1,493.9	+0.002%	$8K	$7K	5x	as long as short
RISEx ZEC/USDC	+0.0129%	1h	1,494.2	+0.022%	$935K	$1.2M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0164%	1h	1,495.3	+0.098%	$2.3M	$3.9M	15x	as long as short
Hyperliquid ZEC	+0.0205%	1h	1,495.6	+0.115%	$779.2M	$440.1M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0207%	1h	1,494.5	+0.043%	$711K	$1.4M	25x	as long as short
Arcus ZEC-USD	+0.0221%	1h	1,495.3	+0.098%	$604K	$8.6M	10x	as long as short
Aftermath Perps ZECUSD	+0.0305%	1h	1,493.4	−0.031%	$49K	$63K	10x	as long as short
Lighter ZEC	+0.0312%	1h	1,495.9	+0.132%	$19.6M	$45.3M	20x	as long as short
Lighter RH ZEC	+0.0328%	1h	1,496	+0.144%	$2.1M	$7.3M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0480%	1h	1,494.9	+0.070%	$3.6M	$9.9M	50x	as long as short