Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.001%

Price spread now: Phemex against Aevo+0.030%7-day average +0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs−$75as in the Price arb table

costs, in and out, $10k−$750.752% of the position

Long on Aevo Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.057%−$6 on $10k

Price spread, last 4 days (all we have)+0.002%$0 · spread now +0.030%, 7d avg +0.024%

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

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo ZEC-PERP	1,476.1	0.0104	pay 0.0013% / 1h	37m 06s	$42K	$152K	20x
Short	Phemex ZECUSDT	1,476.5	0.0100	get 0.0100% / 8h	1h 37m	$3.9M	$5.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Aevo. 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 AevobpFee PhemexbpOrdersPrice spread, now +0.030%Rate

Funding earned: −$0.84
Price spread: +0.030% → +0.024%: $0.6
Slippage, 4 orders: −$47.19
Fee Aevo: 8 bp × 2 orders: −$16
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$75.43
Costs to cover: 0.752%
Break-even: never at this rate

Slippage from Aevo: live order book, 7 min ago; Phemex: live order book, 2 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 Aevo live order book, 7 min ago	8.31 bp	19.4 bp −$19	30.4 bp −$304	51.9 bp −$5,195	doesn't fit
Sell Phemex live order book, 2 min ago	3.72 bp	23.8 bp −$24	40.7 bp −$407	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	−0.3684%	1h	1,477.1	+0.069%	$34K	$273K	12x	as long as short
BloFin ZEC-USDT	−0.0125%	8h	1,476.2	+0.010%	$30.4M	$73.6M	75x	as long as short
Bulk ZEC-USD	−0.0118%	1h	1,480.8	+0.320%	$895K	$15K	10x	as long as short
Kraken Futures PF_ZECUSD	−0.0097%	1h	1,476	−0.004%	$17.9M	$47.1M	25x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,476.6	+0.036%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,476.3	+0.015%	$410K	$35K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,477.9	+0.123%	$1.5M	$4.6M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,475.5	−0.040%	$64K	$301K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,475.7	−0.027%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0076%	8h	1,476.1	−0.001%	$297K	$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
Popdex ZECUSDT	+0.0096%	1h	1,476.8	+0.047%	$161K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0098%	8h	1,476.5	+0.029%	$13K	$866K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,476.9	+0.055%	$2.7M	$7.0M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,475.4	−0.044%	$13.8M	$31.0M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,477	+0.061%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,475.9	−0.011%	$687.9M	$2.30B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,475.4	−0.045%	$265.3M	$631.6M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,475.4	−0.044%	$178.6M	$1.31B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,481.9	+0.393%	$405K	$510K	5x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,475.6	−0.032%	$53.8M	$182.0M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,476	−0.006%	$233.7M	$780.7M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,476.5	+0.024%	$101.0M	$57.4M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,475.8	−0.019%	$159.0M	$288.5M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,475.7	−0.027%	—	$115.2M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,476.6	+0.031%	$2.3M	$3.9M	15x	as long as short
Variational Omni ZEC	+0.0100%	8h	1,484.9	+0.595%	$48.5M	$33.9M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,479	+0.195%	$565K	$8.9M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,484.3	+0.557%	$3.0M	$488K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,485	+0.606%	$409K	$934K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,476.4	+0.019%	$56K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,476.1	0.000%	$357K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,476.4	+0.021%	$162K	$184K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,478	+0.128%	$451K	$500K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,478.3	+0.147%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,476	−0.007%	$251K	$3.5M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,475.8	−0.017%	$2.6M	$19.7M	75x	as long as short
Phemex ZECUSDTshort	+0.0100%	8h	1,476.5	+0.030%	$3.9M	$5.0M	50x
Paradex ZEC-USD-PERP	+0.0100%	8h	1,477	+0.064%	$61K	$43K	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,476.1	−0.001%	$2.7M	$8.0M	10x	as long as short
Aevo ZEC-PERPlong	+0.0104%	1h	1,476.1	long leg	$42K	$152K	20x
GMX ZEC/USD [WBTC.b-USDC]	L +0.0127% / S −0.0119%	1h	1,475.9	−0.010%	$428K	—	100x	as long as short
RISEx ZEC/USDC	+0.0129%	1h	1,476.6	+0.031%	$923K	$1.1M	10x	as long as short
Phoenix ZEC	+0.0134%	1h	1,478.6	+0.171%	$4.7M	$1.4M	10x	as long as short
01 Exchange ZECUSD	+0.0136%	1h	1,477.3	+0.084%	$8K	$7K	5x	as long as short
Aftermath Perps ZECUSD	+0.0137%	1h	1,480.6	+0.306%	$47K	$64K	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0172%	1h	1,476.8	+0.048%	$674K	$1.4M	25x	as long as short
Hyperliquid ZEC	+0.0219%	1h	1,477.3	+0.082%	$767.5M	$441.2M	10x	as long as short
Arcus ZEC-USD	+0.0221%	1h	1,478.3	+0.151%	$636K	$8.6M	10x	as long as short
Lighter ZEC	+0.0288%	1h	1,477.5	+0.096%	$19.4M	$45.7M	20x	as long as short
Lighter RH ZEC	+0.0288%	1h	1,477.4	+0.090%	$2.1M	$7.4M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0480%	1h	1,477.8	+0.118%	$3.6M	$10.0M	50x	as long as short