Funding you earn now, next payment 21:00 UTC−0.0415%/8h= −45.4% APRnext payment −$0.52 per $10,000 · paid last 24h −0.002%
Price spread now: Phoenix against Arcus−0.127%7-day average +0.097% · 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−$47as in the Price arb table
costs, in and out, $10k−$240.242% of the position
Funding, last 3 days (all we have)+0.143%+$14 on $10k
+Price spread, last 7 days+0.241%+$24 · spread now −0.127%, 7d avg +0.097%
=Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Phoenix is 0.223% cheaper against Arcus than usual: you would sell low and buy high (−$22 if the spread goes back to its 7-day average of +0.097%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.143%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Arcus ZEC-USD | 1,454.1 | 0.0518 | pay 0.0065% / 1h | 50m 42s | $756K | $7.8M | 10x |
| Short | Phoenix ZEC | 1,452.3 | 0.0103 | get 0.0013% / 1h | 50m 42s | $4.6M | $1.6M | 10x |
Arcus ZEC-USD
Phoenix ZECFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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
- −$87.16
- Price spread: −0.127% → +0.097%
- −$22.35
- Slippage, 4 orders
- −$12.74
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$133.75
- Costs to cover
- 0.242%
- Break-even
- never at this rate
Slippage from Arcus: live order book, 3 min ago; Phoenix: live order book, 3 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, 3 min ago | 0.00 bp | 6.6 bp −$7 | 11.9 bp −$119 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 3 min ago | 2.20 bp | 7.3 bp −$7 | 17.7 bp −$177 | 62.5 bp −$6,249 | 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 | −0.3476% | 1h | 1,437.6 | −1.133% | $33K | $275K | 12x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,451.6 | −0.170% | $6K | $2K | 10x | as long as short |
| Kraken Futures PF_ZECUSD | −0.0071% | 1h | 1,452.6 | −0.105% | $17.6M | $44.6M | 25x | as long as short |
| BloFin ZEC-USDT | −0.0069% | 8h | 1,453.2 | −0.061% | $28.9M | $75.9M | 75x | as long as short |
| Variational Omni ZEC | −0.0034% | 8h | 1,451.4 | −0.186% | $45.5M | $32.3M | — | as long as short |
| Bybit ZECUSDT | −0.0009% | 8h | 1,454.5 | +0.031% | $269.7M | $677.2M | 75x | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,454.8 | +0.052% | $410K | $106K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,452.3 | −0.124% | $848K | $5.5M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,451.8 | −0.158% | $82K | $400K | 10x | as long as short |
| Deribit ZEC_USDC-PERPETUAL | 0.0000% | 1h | 1,453.6 | −0.033% | $566K | $1.3M | 25x | as long as short |
Injective ZEC/USDC PERP
Hotstuff ZEC-PERP
Kraken Futures PF_ZECUSD
BloFin ZEC-USDT
Variational Omni ZEC
Bybit ZECUSDT
dYdX ZEC-USD
Kalshi KXZECPERP
Perpl ZEC
Deribit ZEC_USDC-PERPETUALShow 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 | 1,452.7 | −0.094% | $5.1M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0008% | 8h | 1,452.7 | −0.096% | $291K | $1.5M | 20x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0038% | 8h | 1,455 | +0.060% | $172.5M | $1.37B | 50x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0039% / S +0.0065% | 1h | 1,452.5 | −0.113% | $543K | — | 100x | as long as short |
| Aster ZECUSDT | +0.0055% | 8h | 1,454.8 | +0.051% | $15.3M | $35.2M | 75x | as long as short |
| Gate ZEC_USDT | +0.0064% | 8h | 1,455.2 | +0.074% | $49.2M | $185.4M | 75x | as long as short |
| 01 Exchange ZECUSD | +0.0080% | 1h | 1,452.4 | −0.115% | $8K | $8K | 5x | as long as short |
| Ondo Perps ZEC-USD.P | +0.0090% | 1h | 1,449.8 | −0.295% | $394K | $522K | 5x | as long as short |
| Katana Perps ZEC-USD | +0.0095% | 8h | 1,452.3 | −0.123% | $17K | $886K | 10x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,452.3 | −0.124% | $177K | $2.0M | 50x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,455 | +0.061% | $60K | $37K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,451.9 | −0.149% | $3.0M | $6.8M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,455.8 | +0.118% | $752.6M | $493.0M | 10x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,455.2 | +0.074% | $1.6M | $3.1M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,455.1 | +0.069% | $660.0M | $2.55B | 75x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,455 | +0.060% | $896K | $37K | 10x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,455.2 | +0.074% | $218.8M | $880.9M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,455.4 | +0.087% | $103.8M | $57.3M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,455.1 | +0.071% | $162.2M | $317.0M | 75x | as long as short |
| BingX ZEC-USDC | +0.0100% | 8h | 1,454.3 | +0.012% | — | $6.8M | — | as long as short |
| Backpack ZEC_USDC_PERP | +0.0100% | 1h | 1,453.9 | −0.017% | $2.3M | $4.2M | 15x | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,453.4 | −0.048% | $487K | $9.8M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,452.9 | −0.081% | $3.0M | $501K | 10x | as long as short |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,454.1 | −0.002% | $707K | $606K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,452 | −0.145% | $109K | $4.8M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,452 | −0.144% | $298K | $2.1M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,452.3 | −0.124% | $127K | $161K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,451.6 | −0.174% | $441K | $493K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,455.7 | +0.107% | $3K | $1.3M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,452.6 | −0.100% | $220K | $4.7M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,452.1 | −0.134% | $2.4M | $25.3M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,452.9 | −0.083% | $3.7M | $5.5M | 50x | as long as short |
| Phoenix ZECshort | +0.0103% | 1h | 1,452.3 | −0.127% | $4.6M | $1.6M | 10x | |
| Lighter ZEC | +0.0104% | 1h | 1,456.5 | +0.164% | $18.8M | $53.9M | 20x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,452.7 | −0.093% | $36K | $362K | 20x | as long as short |
| RISEx ZEC/USDC | +0.0219% | 1h | 1,452.6 | −0.104% | $862K | $2.5M | 10x | as long as short |
| Extended ZEC-USD | +0.0312% | 1h | 1,454.9 | +0.053% | $3.3M | $7.0M | 10x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0440% | 1h | 1,454.3 | +0.013% | $3.7M | $11.5M | 50x | as long as short |
| Aftermath Perps ZECUSD | +0.0464% | 1h | 1,453.2 | −0.062% | $39K | $32K | 10x | as long as short |
| Arcus ZEC-USDlong | +0.0518% | 1h | 1,454.1 | long leg | $756K | $7.8M | 10x | |
| Lighter RH ZEC | +0.0680% | 1h | 1,457.3 | +0.221% | $1.9M | $8.4M | 10x | as long as short |
gTrade (Gains Network) ZEC/USD
Orderly PERP_ZEC_USDC
OKX ZEC-USDT-SWAP
GMX ZEC/USD [WBTC.b-USDC]
Aster ZECUSDT
Gate ZEC_USDT
01 Exchange ZECUSD
Ondo Perps ZEC-USD.P
Katana Perps ZEC-USD
Popdex ZECUSDT
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Hyperliquid ZEC
Pacifica ZEC
Binance ZECUSDT
Bulk ZEC-USD
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDC
Backpack ZEC_USDC_PERP
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
Lighter ZEC
Aevo ZEC-PERP
RISEx ZEC/USDC
Extended ZEC-USD
Coinbase International ZEC-PERP-INTX
Aftermath Perps ZECUSD
Lighter RH ZEC