Funding you earn now, next payment 06:00 UTC−0.0796%/8h= −87.2% APRpaid last 24h +0.003%
Price spread now: Phemex against Deribit+0.012%7-day average −0.039% · you sell dearer than you buy
Net, funding: paid 7d − costs−$60as in the Funding arb table
Net, price: spread back to 7d avg − costs−$51as in the Price arb table
costs, in and out, $10k−$560.557% of the position
Funding, last 7 days−0.045%−$4 on $10k
+Price spread, last 4 days (all we have)−0.042%−$4 · spread now +0.012%, 7d avg −0.039%
=The price spread pays, funding is against you. Phemex is 0.052% dearer against Deribit than usual: you sell high and buy low (spread +0.012% now, against its 7-day average of −0.039%): +$5 on $10k if it goes back. Holding the pair costs −$24 a day in funding at the current rate, which eats that in about 5 hours. At the pace of the last 7 days (−0.045% in total) that is about 8.1 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.045% in total (about -2.3% 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 | Deribit ZEC_USDC-PERPETUAL | 1,510.3 | 0.0896 | pay 0.0112% / 1h | 19m 56s | $645K | $1.3M | 25x |
| Short | Phemex ZECUSDT | 1,510.5 | 0.0100 | get 0.0100% / 8h | 2h 19m | $4.0M | $4.9M | 50x |
Deribit ZEC_USDC-PERPETUAL
Phemex ZECUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Deribit. 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
- −$167.21
- Price spread: +0.012% → −0.039%
- $5.15
- Slippage, 4 orders
- −$36.66
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$217.72
- Costs to cover
- 0.557%
- Break-even
- never at this rate
Slippage from Deribit: live order book, 4 min ago; Phemex: 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 Deribit live order book, 4 min ago | 5.74 bp | 9.2 bp −$9 | 15.0 bp −$150 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 4 min ago | 6.79 bp | 20.8 bp −$21 | 35.2 bp −$352 | 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 | −0.3243% | 1h | 1,493 | −1.146% | $34K | $273K | 12x | as long as short |
| BloFin ZEC-USDT | −0.0108% | 8h | 1,493.9 | −1.091% | $30.3M | $72.6M | 75x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,506.1 | −0.280% | $6K | $1K | 10x | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,503.7 | −0.441% | $418K | $36K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,504.1 | −0.410% | $1.7M | $4.5M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,508.1 | −0.148% | $86K | $239K | 10x | as long as short |
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,508.8 | −0.103% | $5.4M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0064% | 8h | 1,507.5 | −0.186% | $304K | $897K | 20x | as long as short |
| 01 Exchange ZECUSD | +0.0064% | 1h | 1,506.3 | −0.270% | $8K | $7K | 5x | as long as short |
| Phoenix ZEC | +0.0092% | 1h | 1,475.1 | −2.332% | $4.7M | $1.3M | 10x | as long as short |
Injective ZEC/USDC PERP
BloFin ZEC-USDT
Hotstuff ZEC-PERP
dYdX ZEC-USD
Kalshi KXZECPERP
Perpl ZEC
gTrade (Gains Network) ZEC/USD
Orderly PERP_ZEC_USDC
01 Exchange ZECUSD
Phoenix ZECShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit ZECUSDT | +0.0095% | 8h | 1,508.7 | −0.109% | $273.7M | $608.1M | 75x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,506.1 | −0.281% | $143K | $1.7M | 50x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,506.4 | −0.262% | $62K | $43K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,508 | −0.152% | $2.9M | $6.4M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,512.2 | +0.124% | $790.9M | $430.5M | 10x | as long as short |
| Aster ZECUSDT | +0.0100% | 8h | 1,509.6 | −0.049% | $14.8M | $28.9M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,504.7 | −0.374% | $1.7M | $2.4M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,509.6 | −0.046% | $700.7M | $2.21B | 75x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0100% | 8h | 1,508.4 | −0.125% | $182.0M | $1.27B | 50x | as long as short |
| Ondo Perps ZEC-USD.P | +0.0100% | 1h | 1,509.9 | −0.028% | $403K | $445K | 5x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,479.3 | −2.055% | $894K | $15K | 10x | as long as short |
| Gate ZEC_USDT | +0.0100% | 8h | 1,509.9 | −0.031% | $55.0M | $175.4M | 75x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,510.2 | −0.008% | $231.0M | $771.0M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,509.8 | −0.033% | $106.8M | $53.5M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,508.1 | −0.150% | $169.4M | $273.2M | 75x | as long as short |
| BingX ZEC-USDT | +0.0100% | 8h | 1,509.6 | −0.046% | — | $112.9M | — | as long as short |
| Variational Omni ZEC | +0.0100% | 8h | 1,494.7 | −1.036% | $48.9M | $32.5M | — | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,479.1 | −2.069% | $558K | $8.5M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,481.5 | −1.910% | $3.0M | $462K | 10x | as long as short |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,481.5 | −1.910% | $410K | $927K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,495.6 | −0.975% | $55K | $4.6M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,508 | −0.154% | $373K | $1.7M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,509.2 | −0.074% | $166K | $183K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,507.5 | −0.190% | $460K | $506K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,510 | −0.023% | $3K | $1.2M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,510.5 | +0.008% | $250K | $3.4M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,509.1 | −0.082% | $2.6M | $19.2M | 75x | as long as short |
| Phemex ZECUSDTshort | +0.0100% | 8h | 1,510.5 | +0.012% | $4.0M | $4.9M | 50x | |
| Katana Perps ZEC-USD | +0.0100% | 8h | 1,505.6 | −0.311% | $13K | $830K | 10x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0101% / S −0.0074% | 1h | 1,508.5 | −0.119% | $399K | — | 100x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,509.1 | −0.079% | $2.8M | $8.0M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,508.6 | −0.113% | $46K | $153K | 20x | as long as short |
| Lighter RH ZEC | +0.0120% | 1h | 1,512.2 | +0.121% | $2.2M | $7.2M | 10x | as long as short |
| Kraken Futures PF_ZECUSD | +0.0142% | 1h | 1,510.5 | +0.012% | $18.4M | $45.9M | 25x | as long as short |
| RISEx ZEC/USDC | +0.0154% | 1h | 1,506.1 | −0.280% | $948K | $1.1M | 10x | as long as short |
| Lighter ZEC | +0.0200% | 1h | 1,511.9 | +0.106% | $19.9M | $44.5M | 20x | as long as short |
| Backpack ZEC_USDC_PERP | +0.0443% | 1h | 1,512.2 | +0.122% | $2.4M | $3.7M | 15x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0496% | 1h | 1,512.9 | +0.171% | $3.7M | $9.7M | 50x | as long as short |
| Arcus ZEC-USD | +0.0508% | 1h | 1,505.3 | −0.332% | $639K | $8.3M | 10x | as long as short |
| Aftermath Perps ZECUSD | +0.0746% | 1h | 1,483.4 | −1.786% | $49K | $58K | 10x | as long as short |
| Deribit ZEC_USDC-PERPETUALlong | +0.0896% | 1h | 1,510.3 | long leg | $645K | $1.3M | 25x |
Bybit ZECUSDT
Popdex ZECUSDT
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Hyperliquid ZEC
Aster ZECUSDT
Pacifica ZEC
Binance ZECUSDT
OKX ZEC-USDT-SWAP
Ondo Perps ZEC-USD.P
Bulk ZEC-USD
Gate ZEC_USDT
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDT
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
Katana Perps ZEC-USD
GMX ZEC/USD [WBTC.b-USDC]
Extended ZEC-USD
Aevo ZEC-PERP
Lighter RH ZEC
Kraken Futures PF_ZECUSD
RISEx ZEC/USDC
Lighter ZEC
Backpack ZEC_USDC_PERP
Coinbase International ZEC-PERP-INTX
Arcus ZEC-USD
Aftermath Perps ZECUSD