Zcash (ZEC) Perpetual Futures

The open-interest-weighted ZEC funding rate is +0.0082% per 8 hours, or +8.96% annualised. Positive funding means longs pay shorts. Across exchanges it ranges from -0.0114% on Kraken to +0.0100% on Bybit. Compare all funding rates.

ZEC perpetual open interest is $2.28B (1.99M ZEC), down 2.64% in 24 hours. Binance holds the most at $535.79M. That is 11.71% of Zcash's market cap.

Zcash is a cryptocurrency launched in 2016 that adds optional privacy to a Bitcoin-style design. Users can hold ZEC in transparent addresses, which work like Bitcoin, or in shielded addresses that use zk-SNARK proofs to hide transaction details. Mining secures the network, and new supply is halved roughly every four years.

Zcash perps traded $5.56B in the last 24 hours, -12.21% on the day before. Binance leads with 30%, followed by MEXC ($1.46B) and OKX ($1.12B).

Over the last 24 hours 49.7% of accounts are long and 50.3% short, a long/short ratio of 0.99. See the long/short ratio by exchange.

ZEC attracts bursts of speculative interest around privacy narratives, and leveraged traders pile in quickly when it rallies. Funding can then spike as longs pay up to hold positions, before collapsing when the move fades or longs are liquidated. The funding rates page shows where crowding is heaviest across venues.

Zcash privacy is optional, so users choose between transparent and shielded addresses, while Monero hides every transaction by default. The two also use different cryptography, with Zcash relying on zero-knowledge proofs and Monero on ring signatures and stealth addresses.

$5.62M of ZEC positions were liquidated in 24 hours, $3.62M longs and $2.01M shorts. Binance saw the most at $6.52M. See liquidations across the market.

Yes. Zcash cuts its block reward roughly every four years, following the same pattern as Bitcoin, and a halving took place in November 2024. Each halving slows the rate of new supply reaching the market, and traders often position around the event using perps.

ZEC perpetual futures are derivatives contracts that track the price of ZEC and never expire. Instead of settling on a date, they use a funding rate to stay close to the spot price. You can go long or short with leverage without holding any ZEC.

Funding is a payment between longs and shorts. When ZEC perps trade above the index price, funding is positive and longs pay shorts. When they trade below it, shorts pay longs. Most exchanges settle every 8 hours and some, including Hyperliquid, settle every hour.

ZEC perps trade on 12 tracked exchanges. By volume the largest are Binance, MEXC and OKX. Compare fees and features on the best perpetual exchanges.

Coinperps does not give trading advice. Funding, open interest, the long/short ratio and liquidations show how other traders are positioned, but crowded positioning can last longer than expected. Size positions so a liquidation would not hurt you.