Funding you earn now, next payment 01:00 UTC+0.0543%/8h= +59.5% APRpaid last 24h +0.032%
Price spread now: Backpack against Variational Omni+0.251%7-day average +0.415% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)+0.065%+$6 on $10k
+Price spread, last 7 days−0.811%−$81 · spread now +0.251%, 7d avg +0.415%
=Together, before fees−0.746%+ Points / potential airdropVariational Omni: Active · farm board−$75 on $10k · with fees, hour by hour
Funding pays, the price is against you. Backpack is 0.163% cheaper against Variational Omni than usual: you would sell low and buy high (spread +0.251% now, against its 7-day average of +0.415%). If the spread goes back, that is −$16 on $10k: about 24 hours of funding at the current rate (+$16 a day). At the pace of the last 3 days (+0.065% in total) that is about 8.5 days.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.065% in total (about 7.0% 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 | Variational Omni ZEC | 1,464.9 | −0.0030 | get 0.0030% / 8h | 7h 14m | $47.5M | $33.8M | — |
| Short | Backpack ZEC_USDC_PERP | 1,468.6 | 0.0513 | get 0.0064% / 1h | 14m 39s | $2.5M | $3.9M | 15x |
Variational Omni ZEC
Backpack ZEC_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Variational Omni. 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
- $114.06
- Price spread: +0.251% → +0.415%
- −$16.35
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $87.71
- Costs to cover
- 0.100%
- Break-even
- 1.6 days
Slippage unknown: Variational Omni: RFQ quote, 5 min ago; Backpack: live order book, 4 min ago. Net counts fees only.
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 Variational Omni RFQ quote, 5 min ago | 2.76 bp | doesn't fit | 6.3 bp −$63 | 16.5 bp −$1,647 | doesn't fit |
| Sell Backpack live order book, 4 min ago | 0.03 bp | 5.6 bp −$6 | 18.7 bp −$187 | 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 | 1,465.9 | +0.068% | $34K | $275K | 12x | as long as short |
| Kraken Futures PF_ZECUSD | −0.0343% | 1h | 1,467.7 | +0.185% | $17.8M | $43.0M | 25x | as long as short |
| Ondo Perps ZEC-USD.P | −0.0117% | 1h | 1,463.3 | −0.112% | $398K | $516K | 5x | as long as short |
| BloFin ZEC-USDT | −0.0114% | 8h | 1,467.7 | +0.187% | $29.7M | $72.8M | 75x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,468.1 | +0.218% | $6K | $2K | 10x | as long as short |
| Variational Omni ZEClong | −0.0030% | 8h | 1,464.9 | long leg | $47.5M | $33.8M | — | |
| dYdX ZEC-USD | 0.0000% | 1h | 1,467.1 | +0.147% | $413K | $103K | 5x | as long as short |
| 01 Exchange ZECUSD | 0.0000% | 1h | 1,468.9 | +0.272% | $8K | $9K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,468.8 | +0.264% | $959K | $5.2M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,466.9 | +0.134% | $83K | $405K | 10x | as long as short |
Injective ZEC/USDC PERP
Kraken Futures PF_ZECUSD
Ondo Perps ZEC-USD.P
BloFin ZEC-USDT
Hotstuff ZEC-PERP
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 | 1,467 | +0.139% | $5.2M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0018% | 8h | 1,467.3 | +0.159% | $293K | $1.1M | 20x | as long as short |
| Phoenix ZEC | +0.0054% | 1h | 1,465.8 | +0.057% | $4.6M | $1.6M | 10x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0054% / S −0.0010% | 1h | 1,467.1 | +0.147% | $377K | — | 100x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0060% | 8h | 1,468.5 | +0.246% | $181.5M | $1.29B | 50x | as long as short |
| Bybit ZECUSDT | +0.0088% | 8h | 1,468.6 | +0.249% | $273.3M | $633.3M | 75x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,468.4 | +0.236% | $174K | $1.9M | 50x | as long as short |
| Katana Perps ZEC-USD | +0.0100% | 8h | 1,468 | +0.206% | $15K | $845K | 10x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,468.5 | +0.245% | $61K | $39K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,467.7 | +0.186% | $2.6M | $6.6M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,469 | +0.277% | $762.6M | $453.4M | 10x | as long as short |
| Aster ZECUSDT | +0.0100% | 8h | 1,468.2 | +0.223% | $14.9M | $31.5M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,468.1 | +0.215% | $1.7M | $2.8M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,468.8 | +0.264% | $683.5M | $2.37B | 75x | as long as short |
| Arcus ZEC-USD | +0.0100% | 1h | 1,469.7 | +0.324% | $701K | $8.5M | 10x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,465.9 | +0.064% | $892K | $22K | 10x | as long as short |
| Gate ZEC_USDT | +0.0100% | 8h | 1,468.1 | +0.214% | $50.2M | $181.3M | 75x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,468.4 | +0.234% | $227.7M | $828.7M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,467.8 | +0.193% | $104.2M | $55.7M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,468.4 | +0.236% | $163.3M | $291.5M | 75x | as long as short |
| BingX ZEC-USDC | +0.0100% | 8h | 1,466.7 | +0.123% | — | $6.7M | — | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,464.1 | −0.059% | $570K | $9.2M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,465.9 | +0.063% | $3.0M | $447K | 10x | as long as short |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,463.4 | −0.108% | $426K | $874K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,465.3 | +0.025% | $80K | $4.7M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,467.1 | +0.148% | $339K | $1.7M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,466.9 | +0.136% | $128K | $158K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,465.5 | +0.035% | $457K | $509K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,468.4 | +0.234% | $3K | $1.2M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,467.5 | +0.174% | $242K | $3.9M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,466.9 | +0.136% | $2.5M | $20.4M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,467.9 | +0.204% | $3.8M | $5.3M | 50x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,468.3 | +0.228% | $3.2M | $7.0M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,467.2 | +0.154% | $54K | $164K | 20x | as long as short |
| RISEx ZEC/USDC | +0.0228% | 1h | 1,469.2 | +0.289% | $853K | $1.1M | 10x | as long as short |
| Deribit ZEC_USDC-PERPETUAL | +0.0232% | 1h | 1,468.3 | +0.230% | $604K | $1.3M | 25x | as long as short |
| Lighter ZEC | +0.0232% | 1h | 1,469.2 | +0.294% | $19.1M | $50.5M | 20x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0448% | 1h | 1,469.2 | +0.293% | $3.7M | $9.6M | 50x | as long as short |
| Backpack ZEC_USDC_PERPshort | +0.0513% | 1h | 1,468.6 | +0.251% | $2.5M | $3.9M | 15x | |
| Lighter RH ZEC | +0.0744% | 1h | 1,470.1 | +0.355% | $2.0M | $8.3M | 10x | as long as short |
| Aftermath Perps ZECUSD | +0.0771% | 1h | 1,468 | +0.210% | $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
Bybit ZECUSDT
Popdex ZECUSDT
Katana Perps ZEC-USD
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Hyperliquid ZEC
Aster ZECUSDT
Pacifica ZEC
Binance 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
Phemex ZECUSDT
Extended ZEC-USD
Aevo ZEC-PERP
RISEx ZEC/USDC
Deribit ZEC_USDC-PERPETUAL
Lighter ZEC
Coinbase International ZEC-PERP-INTX
Lighter RH ZEC
Aftermath Perps ZECUSD