ZEC

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0328%/8h= +35.9% APRnext payment +$0.41 per $10,000 · paid last 24h +0.023%

Price spread now: Backpack against SoDEX+0.021%7-day average −0.005% · 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−$20as in the Price arb table

costs, in and out, $10k−$220.224% of the position

Long on SoDEX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.073%+$7 on $10k

Price spread, last 3 days (all we have)−0.184%−$18 · spread now +0.021%, 7d avg −0.005%

Together, before fees−0.111%−$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Backpack is 0.026% dearer against SoDEX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.005%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.073% in total (about 8.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.41 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	SoDEX ZEC-USD	1,469.6	0.0100	pay 0.0013% / 1h	58m 59s	$242K	$3.5M	10x
Short	Backpack ZEC_USDC_PERP	1,469.9	0.0428	get 0.0053% / 1h	58m 59s	$2.4M	$3.9M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against SoDEX. 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 SoDEXbpFee BackpackbpOrdersPrice spread, now +0.021%Rate

Funding earned: $68.85
Price spread: +0.021% → −0.005%: $2.61
Slippage, 4 orders: −$4.38
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: $49.07
Costs to cover: 0.224%
Break-even: 2.0 days

Slippage from SoDEX: live order book, 5 min ago; Backpack: live order book, 5 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 SoDEX live order book, 5 min ago	0.07 bp	4.6 bp −$5	16.6 bp −$166	108.3 bp −$10.8K	doesn't fit
Sell Backpack live order book, 5 min ago	0.03 bp	5.6 bp −$6	16.7 bp −$167	doesn't fit	doesn't fit

ZEC on 50 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	−0.3244%	1h	1,453.2	−1.116%	$33K	$272K	12x	as long as short
Ondo Perps ZEC-USD.P	−0.0298%	1h	1,467.2	−0.164%	$398K	$441K	5x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,470.3	+0.047%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,469.6	−0.003%	$414K	$49K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,470.5	+0.063%	$972K	$4.7M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,469.2	−0.029%	$84K	$249K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,469.6	−0.003%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0032%	8h	1,469.5	−0.010%	$293K	$984K	20x	as long as short
01 Exchange ZECUSD	+0.0048%	1h	1,469.9	+0.020%	$8K	$8K	5x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0055% / S −0.0009%	1h	1,469.4	−0.011%	$384K	—	100x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix ZEC	+0.0070%	1h	1,469.6	+0.001%	$4.6M	$1.4M	10x	as long as short
Variational Omni ZEC	+0.0079%	8h	1,468.1	−0.102%	$48.0M	$32.4M	—	as long as short
OKX ZEC-USDT-SWAP	+0.0094%	8h	1,469.4	−0.016%	$181.2M	$1.24B	50x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,469.5	−0.007%	$173K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,468.6	−0.067%	$16K	$845K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,470	+0.029%	$61K	$42K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,469.9	+0.020%	$2.6M	$6.5M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,470.6	+0.067%	$766.1M	$434.9M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,469.5	−0.006%	$14.7M	$29.1M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,470.6	+0.067%	$1.7M	$2.6M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,468.7	−0.064%	$678.9M	$2.25B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,469.2	−0.025%	$271.6M	$605.1M	75x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,466.6	−0.206%	$890K	$18K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,469.4	−0.016%	$50.2M	$169.5M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,469.2	−0.026%	$216.2M	$767.7M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,469.2	−0.026%	$103.3M	$55.8M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,469.2	−0.028%	$163.2M	$275.7M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,468.3	−0.091%	—	$6.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,468	−0.107%	$571K	$8.9M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,468.3	−0.086%	$3.0M	$430K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,468.3	−0.087%	$427K	$880K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,469.6	0.000%	$71K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,469.1	−0.035%	$343K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,469.8	+0.010%	$128K	$160K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,468.1	−0.103%	$448K	$512K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,472.9	+0.222%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USDlong	+0.0100%	1h	1,469.6	long leg	$242K	$3.5M	10x
HTX ZEC-USDT	+0.0100%	8h	1,469.7	+0.008%	$2.5M	$18.2M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,469.7	+0.004%	$3.9M	$5.2M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,469.2	−0.028%	$2.8M	$7.6M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,469.7	+0.008%	$48K	$155K	20x	as long as short
Lighter ZEC	+0.0160%	1h	1,471	+0.097%	$19.2M	$45.8M	20x	as long as short
Kraken Futures PF_ZECUSD	+0.0194%	1h	1,469.8	+0.013%	$18.1M	$43.5M	25x	as long as short
Lighter RH ZEC	+0.0200%	1h	1,471.4	+0.121%	$2.1M	$6.8M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0219%	1h	1,470.4	+0.051%	$612K	$1.3M	25x	as long as short
Arcus ZEC-USD	+0.0254%	1h	1,471.6	+0.133%	$693K	$8.5M	10x	as long as short
RISEx ZEC/USDC	+0.0409%	1h	1,470.4	+0.054%	$853K	$1.0M	10x	as long as short
Backpack ZEC_USDC_PERPshort	+0.0428%	1h	1,469.9	+0.021%	$2.4M	$3.9M	15x
Coinbase International ZEC-PERP-INTX	+0.0456%	1h	1,472.1	+0.166%	$3.6M	$9.0M	50x	as long as short
Aftermath Perps ZECUSD	+0.0731%	1h	1,470	+0.027%	$43K	$46K	10x	as long as short