Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.029%

Price spread now: Phemex against dYdX−0.010%7-day average +0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$134as in the Funding arb table

Net, price: spread back to 7d avg − costs−$125as in the Price arb table

costs, in and out, $10k−$1211.208% of the position

Long on dYdX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.136%−$14 on $10k

Price spread, last 3 days (all we have)+0.325%+$33 · spread now −0.010%, 7d avg +0.033%

Together, before fees+0.189%+$19 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phemex is 0.043% cheaper against dYdX than usual: you would sell low and buy high (spread −0.010% now, against its 7-day average of +0.033%). If the spread goes back, that is −$4 on $10k: about 34 hours of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −0.136%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ZEC-USD	1,470.9	0	get 0.0000% / 1h	0m 56s	$414K	$104K	5x
Short	Phemex ZECUSDT	1,470.8	0.0100	get 0.0100% / 8h	0m 56s	$3.9M	$5.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against dYdX. 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 dYdXbpFee PhemexbpOrdersPrice spread, now −0.010%Rate

Funding earned: $21
Price spread: −0.010% → +0.033%: −$4.29
Slippage, 4 orders: −$98.79
Fee dYdX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$104.08
Costs to cover: 1.208%
Break-even: 41.7 days

Slippage from dYdX: live order book, 13 min ago; Phemex: 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 dYdX live order book, 13 min ago	36.13 bp	42.3 bp −$42	50.1 bp −$501	81.5 bp −$8,153	211.0 bp −$105.5K
Sell Phemex live order book, 3 min ago	3.80 bp	17.2 bp −$17	29.1 bp −$291	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	−0.3089%	1h	1,472.8	+0.125%	$34K	$275K	12x	as long as short
Ondo Perps ZEC-USD.P	−0.0263%	1h	1,470	−0.064%	$399K	$520K	5x	as long as short
Kraken Futures PF_ZECUSD	−0.0225%	1h	1,470.7	−0.017%	$17.9M	$44.0M	25x	as long as short
Bybit ZECUSDT	−0.0118%	8h	1,469.7	−0.086%	$274.7M	$649.7M	75x	as long as short
BloFin ZEC-USDT	−0.0101%	8h	1,470.3	−0.044%	$29.6M	$74.6M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,470.9	−0.003%	$6K	$2K	10x	as long as short
Variational Omni ZEC	−0.0063%	8h	1,469.3	−0.112%	$47.6M	$34.4M	—	as long as short
dYdX ZEC-USDlong	0.0000%	1h	1,470.9	long leg	$414K	$104K	5x
Kalshi KXZECPERP	0.0000%	8h	1,471	+0.003%	$959K	$5.6M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,469.9	−0.070%	$83K	$406K	10x	as long as short

Show 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	1,470.8	−0.013%	$5.2M	—	150x	as long as short
01 Exchange ZECUSD	+0.0008%	1h	1,470.7	−0.015%	$8K	$8K	5x	as long as short
Orderly PERP_ZEC_USDC	+0.0016%	8h	1,470.2	−0.052%	$294K	$1.4M	20x	as long as short
Phoenix ZEC	+0.0024%	1h	1,473.2	+0.154%	$4.7M	$1.6M	10x	as long as short
ApeX Omni ZECUSDT	+0.0037%	1h	1,472.7	+0.120%	$432K	$845K	50x	as long as short
OKX ZEC-USDT-SWAP	+0.0038%	8h	1,470.2	−0.049%	$181.5M	$1.34B	50x	as long as short
Gate ZEC_USDT	+0.0047%	8h	1,470.3	−0.043%	$51.1M	$188.1M	75x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0050%	1h	1,471.4	+0.028%	$614K	$1.3M	25x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0054% / S −0.0010%	1h	1,470.6	−0.022%	$371K	—	100x	as long as short
Lighter ZEC	+0.0096%	1h	1,472.1	+0.079%	$19.2M	$52.6M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,470.2	−0.051%	$174K	$1.9M	50x	as long as short
SoDEX ZEC-USD	+0.0097%	1h	1,470.3	−0.047%	$242K	$4.4M	10x	as long as short
Katana Perps ZEC-USD	+0.0097%	8h	1,471	+0.002%	$19K	$846K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,470	−0.064%	$60K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,471	+0.003%	$2.6M	$6.8M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,471.5	+0.038%	$762.4M	$472.7M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,469.8	−0.075%	$14.9M	$32.5M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,470.7	−0.013%	$1.7M	$2.9M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,470.4	−0.038%	$682.7M	$2.45B	75x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,471.9	+0.065%	$699K	$8.5M	10x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,472.8	+0.125%	$896K	$38K	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,470.3	−0.045%	$228.2M	$847.5M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,470.5	−0.028%	$104.4M	$56.3M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,470.4	−0.036%	$163.5M	$300.9M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,470.1	−0.059%	—	$101.8M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,473.4	+0.168%	$513K	$9.1M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,474	+0.206%	$3.0M	$454K	10x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,471.4	+0.033%	$110K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,470.2	−0.050%	$333K	$1.9M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,470.1	−0.055%	$128K	$159K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,468.8	−0.146%	$458K	$508K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,472.6	+0.110%	$3K	$1.2M	20x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,469.7	−0.086%	$2.5M	$22.5M	75x	as long as short
Phemex ZECUSDTshort	+0.0100%	8h	1,470.8	−0.010%	$3.9M	$5.4M	50x
Extended ZEC-USD	+0.0104%	1h	1,470.8	−0.006%	$3.2M	$7.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,470.3	−0.040%	$37K	$366K	20x	as long as short
RISEx ZEC/USDC	+0.0132%	1h	1,471	+0.003%	$837K	$1.3M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0397%	1h	1,470.9	−0.004%	$2.5M	$3.8M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0432%	1h	1,472.9	+0.131%	$3.8M	$10.6M	50x	as long as short
Lighter RH ZEC	+0.0448%	1h	1,472.8	+0.124%	$2.0M	$8.4M	10x	as long as short
Aftermath Perps ZECUSD	+0.0773%	1h	1,472.5	+0.107%	$46K	$46K	10x	as long as short