Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0023%/8h= +2.6% APRpaid last 24h +0.026%

Price spread now: Phoenix against Aster+0.100%7-day average +0.150% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$230.231% of the position

Long on Aster Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.515%+$51 on $10k

Price spread, last 7 days+0.080%+$8 · spread now +0.100%, 7d avg +0.150%

Together, before fees+0.594%+ Points / potential airdropAster: Stage 5 · farm board+$59 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.050% cheaper against Aster than usual: you would sell low and buy high (spread +0.100% now, against its 7-day average of +0.150%). If the spread goes back, that is −$5 on $10k: about 7.2 days of funding at the current rate (+$1 a day). At the pace of the last 5 days (+0.515% in total) that is about 13 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ZECUSDT	1,457.5	0.0100	pay 0.0100% / 8h	4h 04m	$14.8M	$27.9M	75x
Short	Phoenix ZEC	1,459	0.0123	get 0.0015% / 1h	4m 49s	$4.6M	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Aster. 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 AsterbpFee PhoenixbpOrdersPrice spread, now +0.100%Rate

Funding earned: $4.89
Price spread: +0.100% → +0.150%: −$5.04
Slippage, 4 orders: −$8.07
Fee Aster: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$23.22
Costs to cover: 0.231%
Break-even: 40.2 days

Slippage from Aster: live order book, 4 min ago; Phoenix: live order book, 4 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 Aster live order book, 4 min ago	0.03 bp	5.6 bp −$6	7.1 bp −$71	14.2 bp −$1,420	80.9 bp −$40.4K
Sell Phoenix live order book, 4 min ago	1.51 bp	6.2 bp −$6	13.4 bp −$134	50.0 bp −$4,999	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	−0.3166%	1h	1,458.2	+0.043%	$34K	$272K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,457.9	+0.022%	$6K	$1K	10x	as long as short
BloFin ZEC-USDT	−0.0070%	8h	1,457.6	+0.002%	$29.6M	$70.9M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,458.3	+0.052%	$411K	$37K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,458.3	+0.050%	$1.5M	$4.5M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,457.7	+0.008%	$83K	$240K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,457.8	+0.020%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0063%	8h	1,457.6	+0.004%	$291K	$952K	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0071% / S −0.0022%	1h	1,457.7	+0.010%	$409K	—	100x	as long as short
01 Exchange ZECUSD	+0.0080%	1h	1,458	+0.034%	$8K	$7K	5x	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	1,457.7	+0.011%	$173K	$1.7M	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,457.9	+0.023%	$11K	$857K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,458.6	+0.071%	$60K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,457.9	+0.028%	$2.8M	$6.7M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,458.6	+0.073%	$758.7M	$431.5M	10x	as long as short
Aster ZECUSDTlong	+0.0100%	8h	1,457.5	long leg	$14.8M	$27.9M	75x
Pacifica ZEC	+0.0100%	1h	1,458.5	+0.069%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,457.3	−0.014%	$669.5M	$2.21B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,456.6	−0.062%	$261.5M	$602.2M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,457.3	−0.017%	$178.0M	$1.22B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,456.7	−0.058%	$396K	$441K	5x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,457.5	−0.006%	$50.5M	$175.4M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,457.9	+0.023%	$216.9M	$776.5M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,457.6	+0.006%	$102.9M	$54.0M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,457.4	−0.009%	$165.7M	$271.0M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,457	−0.038%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,457.3	−0.014%	$47.8M	$32.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,456.1	−0.099%	$567K	$8.6M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,457.2	−0.022%	$3.0M	$451K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,456.5	−0.070%	$404K	$942K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,457	−0.040%	$49K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,457.6	+0.004%	$354K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,458	+0.034%	$160K	$185K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,456.6	−0.066%	$445K	$521K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,459.9	+0.159%	$3K	$1.1M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,457.5	−0.005%	$233K	$3.4M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,457.1	−0.027%	$2.7M	$18.4M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,457.7	+0.012%	$3.8M	$5.1M	50x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,460.6	+0.212%	$882K	$18K	10x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,457.6	+0.001%	$2.8M	$7.7M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,457.4	−0.007%	$47K	$151K	20x	as long as short
Phoenix ZECshort	+0.0123%	1h	1,459	+0.100%	$4.6M	$1.3M	10x
Backpack ZEC_USDC_PERP	+0.0178%	1h	1,457.9	+0.025%	$2.4M	$3.9M	15x	as long as short
Lighter ZEC	+0.0240%	1h	1,458.8	+0.084%	$19.2M	$46.0M	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0277%	1h	1,458.5	+0.063%	$615K	$1.3M	25x	as long as short
Kraken Futures PF_ZECUSD	+0.0277%	1h	1,457.6	+0.006%	$18.0M	$45.2M	25x	as long as short
Lighter RH ZEC	+0.0320%	1h	1,458.8	+0.084%	$2.1M	$7.0M	10x	as long as short
RISEx ZEC/USDC	+0.0412%	1h	1,458	+0.032%	$923K	$1.1M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0448%	1h	1,459.8	+0.154%	$3.8M	$9.1M	50x	as long as short
Arcus ZEC-USD	+0.0626%	1h	1,459.1	+0.107%	$677K	$8.2M	10x	as long as short
Aftermath Perps ZECUSD	+0.0682%	1h	1,458.7	+0.080%	$45K	$49K	10x	as long as short