Funding you earn now, next payment 06:00 UTC−0.0346%/8h= −37.9% APRnext payment −$0.43 per $10,000 · paid last 24h −0.075%
Price spread now: Phoenix against Coinbase International+0.107%7-day average −0.039% · you sell dearer than you buy
Net, funding: paid 7d − costs−$3as in the Funding arb table
Net, price: spread back to 7d avg − costs−$24as in the Price arb table
costs, in and out, $10k−$390.388% of the position
Funding, last 7 days+0.359%+$36 on $10k
+Price spread, last 4 days (all we have)−0.698%−$70 · spread now +0.107%, 7d avg −0.039%
=The price spread pays, funding is against you. Phoenix is 0.145% dearer against Coinbase International than usual: you sell high and buy low (spread +0.107% now, against its 7-day average of −0.039%): +$15 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 34 hours. Mind the row above: over the last 7 days funding on this pair paid +0.359%, 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 | Coinbase International ZEC-PERP-INTX | 1,483.4 | 0.0480 | pay 0.0060% / 1h | 42m 41s | $3.6M | $9.9M | 50x |
| Short | Phoenix ZEC | 1,485 | 0.0134 | get 0.0017% / 1h | 42m 41s | $4.7M | $1.4M | 10x |
Coinbase International ZEC-PERP-INTX
Phoenix ZECFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Coinbase International. 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
- −$72.74
- Price spread: +0.107% → −0.039%
- $14.52
- Slippage, 4 orders
- −$21.77
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$96.99
- Costs to cover
- 0.388%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 6 min ago; Phoenix: live order book, 6 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 Coinbase International live order book, 6 min ago | 0.20 bp | 14.6 bp −$15 | 19.5 bp −$195 | 56.7 bp −$5,674 | doesn't fit |
| Sell Phoenix live order book, 6 min ago | 1.68 bp | 6.4 bp −$6 | 14.4 bp −$144 | 116.1 bp −$11.6K | 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 | 1,484.2 | +0.054% | $34K | $273K | 12x | as long as short |
| BloFin ZEC-USDT | −0.0116% | 8h | 1,481.3 | −0.141% | $30.7M | $73.6M | 75x | as long as short |
| Bulk ZEC-USD | −0.0097% | 1h | 1,490.7 | +0.490% | $901K | $15K | 10x | as long as short |
| Kraken Futures PF_ZECUSD | −0.0097% | 1h | 1,481.8 | −0.106% | $18.0M | $46.5M | 25x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,482.7 | −0.047% | $6K | $1K | 10x | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,480.9 | −0.167% | $412K | $35K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,483.3 | −0.005% | $1.6M | $4.6M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,481.8 | −0.104% | $61K | $297K | 10x | as long as short |
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,482.3 | −0.073% | $5.3M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0074% | 8h | 1,481.9 | −0.102% | $298K | $1.1M | 20x | as long as short |
Injective ZEC/USDC PERP
BloFin ZEC-USDT
Bulk ZEC-USD
Kraken Futures PF_ZECUSD
Hotstuff ZEC-PERP
dYdX ZEC-USD
Kalshi KXZECPERP
Perpl ZEC
gTrade (Gains Network) ZEC/USD
Orderly PERP_ZEC_USDCShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Popdex ZECUSDT | +0.0096% | 1h | 1,482.2 | −0.080% | $158K | $1.7M | 50x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,482.5 | −0.058% | $2.8M | $6.6M | 10x | as long as short |
| Aster ZECUSDT | +0.0100% | 8h | 1,481.1 | −0.157% | $13.8M | $30.8M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,481.5 | −0.125% | $1.7M | $2.4M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,481.6 | −0.118% | $689.8M | $2.29B | 75x | as long as short |
| Bybit ZECUSDT | +0.0100% | 8h | 1,481.7 | −0.113% | $269.0M | $624.6M | 75x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0100% | 8h | 1,481.8 | −0.104% | $179.1M | $1.31B | 50x | as long as short |
| Ondo Perps ZEC-USD.P | +0.0100% | 1h | 1,484.2 | +0.055% | $405K | $505K | 5x | as long as short |
| Gate ZEC_USDT | +0.0100% | 8h | 1,480.8 | −0.175% | $54.2M | $180.5M | 75x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,481.7 | −0.113% | $238.2M | $777.9M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,481.7 | −0.111% | $101.8M | $56.9M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,480.7 | −0.183% | $159.8M | $288.0M | 75x | as long as short |
| BingX ZEC-USDT | +0.0100% | 8h | 1,480.7 | −0.179% | — | $114.5M | — | as long as short |
| Backpack ZEC_USDC_PERP | +0.0100% | 1h | 1,482 | −0.091% | $2.3M | $3.9M | 15x | as long as short |
| Variational Omni ZEC | +0.0100% | 8h | 1,484.4 | +0.067% | $48.5M | $33.9M | — | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,484.8 | +0.094% | $568K | $8.9M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,485.5 | +0.143% | $3.0M | $488K | 10x | as long as short |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,486.5 | +0.210% | $411K | $933K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,485 | +0.107% | $56K | $4.6M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,481.4 | −0.133% | $358K | $1.7M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,482.4 | −0.069% | $163K | $185K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,480.9 | −0.166% | $452K | $500K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,484.4 | +0.069% | $3K | $1.2M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,482.4 | −0.065% | $252K | $3.5M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,481.9 | −0.099% | $2.6M | $19.5M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,482.4 | −0.068% | $4.0M | $5.0M | 50x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,480.8 | −0.174% | $61K | $43K | 10x | as long as short |
| Katana Perps ZEC-USD | +0.0100% | 8h | 1,482.1 | −0.086% | $11K | $864K | 10x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,480.7 | −0.179% | $2.7M | $7.9M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,481.7 | −0.114% | $42K | $152K | 20x | as long as short |
| 01 Exchange ZECUSD | +0.0120% | 1h | 1,482.8 | −0.042% | $8K | $7K | 5x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0124% / S −0.0113% | 1h | 1,482.1 | −0.089% | $429K | — | 100x | as long as short |
| RISEx ZEC/USDC | +0.0129% | 1h | 1,482.5 | −0.060% | $927K | $1.2M | 10x | as long as short |
| Phoenix ZECshort | +0.0134% | 1h | 1,485 | +0.107% | $4.7M | $1.4M | 10x | |
| Deribit ZEC_USDC-PERPETUAL | +0.0144% | 1h | 1,482.6 | −0.051% | $705K | $1.4M | 25x | as long as short |
| Aftermath Perps ZECUSD | +0.0181% | 1h | 1,484.5 | +0.078% | $48K | $63K | 10x | as long as short |
| Hyperliquid ZEC | +0.0185% | 1h | 1,482 | −0.093% | $770.0M | $441.2M | 10x | as long as short |
| Arcus ZEC-USD | +0.0221% | 1h | 1,484.3 | +0.062% | $622K | $8.6M | 10x | as long as short |
| Lighter ZEC | +0.0264% | 1h | 1,482.2 | −0.078% | $19.4M | $45.6M | 20x | as long as short |
| Lighter RH ZEC | +0.0272% | 1h | 1,483.2 | −0.011% | $2.1M | $7.3M | 10x | as long as short |
| Coinbase International ZEC-PERP-INTXlong | +0.0480% | 1h | 1,483.4 | long leg | $3.6M | $9.9M | 50x |
Popdex ZECUSDT
Nado ZEC-PERP
Aster ZECUSDT
Pacifica ZEC
Binance ZECUSDT
Bybit ZECUSDT
OKX ZEC-USDT-SWAP
Ondo Perps ZEC-USD.P
Gate ZEC_USDT
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDT
Backpack ZEC_USDC_PERP
Variational Omni ZEC
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
Paradex ZEC-USD-PERP
Katana Perps ZEC-USD
Extended ZEC-USD
Aevo ZEC-PERP
01 Exchange ZECUSD
GMX ZEC/USD [WBTC.b-USDC]
RISEx ZEC/USDC
Deribit ZEC_USDC-PERPETUAL
Aftermath Perps ZECUSD
Hyperliquid ZEC
Arcus ZEC-USD
Lighter ZEC
Lighter RH ZEC