Funding you earn now, next payment 23:00 UTC−0.0344%/8h= −37.7% APRpaid last 24h −0.030%
Price spread now: Phemex against Arcus−0.050%7-day average +0.001% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$53as in the Price arb table
costs, in and out, $10k−$480.483% of the position
Funding, last 3 days (all we have)−0.085%−$8 on $10k
+Price spread, last 3 days (all we have)+0.499%+$50 · spread now −0.050%, 7d avg +0.001%
=Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Phemex is 0.051% cheaper against Arcus than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.001%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.085% in total (about -9.2% 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 | Arcus ZEC-USD | 1,463 | 0.0444 | pay 0.0056% / 1h | 37m 12s | $744K | $8.1M | 10x |
| Short | Phemex ZECUSDT | 1,462.3 | 0.0100 | get 0.0100% / 8h | 1h 37m | $3.8M | $5.4M | 50x |
Arcus ZEC-USD
Phemex ZECUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Arcus. 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
- −$72.33
- Price spread: −0.050% → +0.001%
- −$5.09
- Slippage, 4 orders
- −$31.82
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$125.74
- Costs to cover
- 0.483%
- Break-even
- never at this rate
Slippage from Arcus: live order book, 2 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 Arcus live order book, 2 min ago | 0.21 bp | 3.8 bp −$4 | 8.1 bp −$81 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 2 min ago | 3.73 bp | 19.2 bp −$19 | 30.4 bp −$304 | 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 | −0.3310% | 1h | 1,462.2 | −0.055% | $34K | $275K | 12x | as long as short |
| Kraken Futures PF_ZECUSD | −0.0405% | 1h | 1,462.1 | −0.061% | $17.8M | $44.8M | 25x | as long as short |
| Ondo Perps ZEC-USD.P | −0.0225% | 1h | 1,466 | +0.203% | $398K | $520K | 5x | as long as short |
| BloFin ZEC-USDT | −0.0089% | 8h | 1,461.8 | −0.081% | $29.3M | $75.2M | 75x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,460.4 | −0.180% | $6K | $2K | 10x | as long as short |
| Bybit ZECUSDT | −0.0050% | 8h | 1,461.3 | −0.116% | $270.7M | $673.7M | 75x | as long as short |
| Variational Omni ZEC | −0.0026% | 8h | 1,465.3 | +0.152% | $46.6M | $34.0M | — | as long as short |
| ApeX Omni ZECUSDT | −0.0024% | 1h | 1,463.5 | +0.031% | $430K | $820K | 50x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L −0.0017% / S +0.0093% | 1h | 1,462.7 | −0.019% | $541K | — | 100x | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,461.6 | −0.097% | $412K | $106K | 5x | as long as short |
Injective ZEC/USDC PERP
Kraken Futures PF_ZECUSD
Ondo Perps ZEC-USD.P
BloFin ZEC-USDT
Hotstuff ZEC-PERP
Bybit ZECUSDT
Variational Omni ZEC
ApeX Omni ZECUSDT
GMX ZEC/USD [WBTC.b-USDC]
dYdX ZEC-USDShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kalshi KXZECPERP | 0.0000% | 8h | 1,461.1 | −0.129% | $883K | $5.7M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,462 | −0.069% | $83K | $404K | 10x | as long as short |
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,462.4 | −0.040% | $5.2M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0014% | 8h | 1,461.8 | −0.084% | $291K | $1.5M | 20x | as long as short |
| Bulk ZEC-USD | +0.0030% | 1h | 1,466 | +0.204% | $905K | $27K | 10x | as long as short |
| Gate ZEC_USDT | +0.0047% | 8h | 1,461.9 | −0.078% | $49.9M | $184.7M | 75x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0047% | 8h | 1,462.1 | −0.067% | $175.7M | $1.35B | 50x | as long as short |
| 01 Exchange ZECUSD | +0.0056% | 1h | 1,462.5 | −0.034% | $8K | $8K | 5x | as long as short |
| Phoenix ZEC | +0.0075% | 1h | 1,461.4 | −0.114% | $4.6M | $1.6M | 10x | as long as short |
| Deribit ZEC_USDC-PERPETUAL | +0.0096% | 1h | 1,462.9 | −0.010% | $595K | $1.3M | 25x | as long as short |
| Katana Perps ZEC-USD | +0.0096% | 8h | 1,462.4 | −0.042% | $14K | $862K | 10x | as long as short |
| Lighter ZEC | +0.0096% | 1h | 1,463.3 | +0.022% | $18.9M | $52.5M | 20x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,461.8 | −0.087% | $173K | $1.9M | 50x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,461 | −0.137% | $60K | $39K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,461.6 | −0.094% | $2.5M | $6.9M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,463 | −0.002% | $758.3M | $484.8M | 10x | as long as short |
| Aster ZECUSDT | +0.0100% | 8h | 1,461.8 | −0.086% | $15.6M | $33.3M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,461.6 | −0.095% | $1.7M | $3.0M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,461.9 | −0.078% | $673.6M | $2.50B | 75x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,461.8 | −0.083% | $222.2M | $859.5M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,462.1 | −0.067% | $103.6M | $56.2M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,462.3 | −0.053% | $161.7M | $306.9M | 75x | as long as short |
| BingX ZEC-USDT | +0.0100% | 8h | 1,462.5 | −0.035% | — | $103.3M | — | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,463.4 | +0.023% | $509K | $9.5M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,462.3 | −0.047% | $3.0M | $481K | 10x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,462.9 | −0.006% | $109K | $4.8M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,462 | −0.070% | $343K | $1.9M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,462.3 | −0.049% | $127K | $160K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,460.4 | −0.181% | $446K | $502K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,463.9 | +0.062% | $3K | $1.3M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,461.8 | −0.084% | $222K | $4.5M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,460 | −0.205% | $2.5M | $24.1M | 75x | as long as short |
| Phemex ZECUSDTshort | +0.0100% | 8h | 1,462.3 | −0.050% | $3.8M | $5.4M | 50x | |
| Extended ZEC-USD | +0.0104% | 1h | 1,462.3 | −0.049% | $3.2M | $6.9M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,462.3 | −0.049% | $36K | $367K | 20x | as long as short |
| RISEx ZEC/USDC | +0.0190% | 1h | 1,462.2 | −0.058% | $841K | $1.7M | 10x | as long as short |
| Backpack ZEC_USDC_PERP | +0.0191% | 1h | 1,462.9 | −0.012% | $2.3M | $3.8M | 15x | as long as short |
| Lighter RH ZEC | +0.0368% | 1h | 1,464 | +0.067% | $2.0M | $8.2M | 10x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0424% | 1h | 1,462.6 | −0.030% | $3.7M | $11.6M | 50x | as long as short |
| Arcus ZEC-USDlong | +0.0444% | 1h | 1,463 | long leg | $744K | $8.1M | 10x | |
| Aftermath Perps ZECUSD | +0.0536% | 1h | 1,464.6 | +0.108% | $40K | $34K | 10x | as long as short |
Kalshi KXZECPERP
Perpl ZEC
gTrade (Gains Network) ZEC/USD
Orderly PERP_ZEC_USDC
Bulk ZEC-USD
Gate ZEC_USDT
OKX ZEC-USDT-SWAP
01 Exchange ZECUSD
Phoenix ZEC
Deribit ZEC_USDC-PERPETUAL
Katana Perps ZEC-USD
Lighter ZEC
Popdex ZECUSDT
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Hyperliquid ZEC
Aster ZECUSDT
Pacifica ZEC
Binance ZECUSDT
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDT
edgeX ZECUSDC
GRVT ZEC_USDT_Perp
StandX ZEC-USD
Polymarket Perps ZEC-USD
Bullet ZEC-USD
Derive ZEC-PERP
SunX ZEC-USDT
SoDEX ZEC-USD
HTX ZEC-USDT
Extended ZEC-USD
Aevo ZEC-PERP
RISEx ZEC/USDC
Backpack ZEC_USDC_PERP
Lighter RH ZEC
Coinbase International ZEC-PERP-INTX
Aftermath Perps ZECUSD