Funding you earn now, next payment 03:00 UTC+0.0123%/8h= +13.5% APRnext payment +$0.15 per $10,000 · paid last 24h +0.038%
Price spread now: Phoenix against dYdX+0.272%7-day average +0.102% · you sell dearer than you buy
Net, funding: paid 7d − costs−$51as in the Funding arb table
Net, price: spread back to 7d avg − costs−$68as in the Price arb table
costs, in and out, $10k−$850.848% of the position
Funding, last 7 days+0.342%+$34 on $10k
+Price spread, last 4 days (all we have)+0.213%+$21 · spread now +0.272%, 7d avg +0.102%
=Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Phoenix is 0.170% dearer against dYdX than usual: you sell high and buy low: +$17 more if the spread goes back to its 7-day average of +0.102%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | dYdX ZEC-USD | 1,446.7 | 0 | get 0.0000% / 1h | 51m 16s | $407K | $40K | 5x |
| Short | Phoenix ZEC | 1,450.6 | 0.0123 | get 0.0015% / 1h | 51m 16s | $4.6M | $1.3M | 10x |
dYdX ZEC-USD
Phoenix ZECFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against dYdX. 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
- $25.89
- Price spread: +0.272% → +0.102%
- $17.02
- Slippage, 4 orders
- −$67.84
- Fee dYdX: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$41.93
- Costs to cover
- 0.848%
- Break-even
- 18.3 days
Slippage from dYdX: live order book, 8 min ago; Phoenix: live order book, 8 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, 8 min ago | 29.20 bp | 34.2 bp −$34 | 49.2 bp −$492 | 184.1 bp −$18.4K | 1219.7 bp −$609.8K |
| Sell Phoenix live order book, 8 min ago | 1.79 bp | 6.6 bp −$7 | 15.2 bp −$152 | 122.6 bp −$12.3K | 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 | 1,449.6 | +0.201% | $33K | $272K | 12x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,447.8 | +0.075% | $6K | $1K | 10x | as long as short |
| BloFin ZEC-USDT | −0.0078% | 8h | 1,447.1 | +0.027% | $29.2M | $70.3M | 75x | as long as short |
| dYdX ZEC-USDlong | 0.0000% | 1h | 1,446.7 | long leg | $407K | $40K | 5x | |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,448.2 | +0.104% | $1.5M | $4.5M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,447.1 | +0.027% | $83K | $240K | 10x | as long as short |
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,447.8 | +0.076% | $5.1M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0058% | 8h | 1,447.7 | +0.073% | $290K | $958K | 20x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0064% / S −0.0014% | 1h | 1,448.2 | +0.106% | $407K | — | 100x | as long as short |
| 01 Exchange ZECUSD | +0.0080% | 1h | 1,447.6 | +0.067% | $7K | $7K | 5x | as long as short |
Injective ZEC/USDC PERP
Hotstuff ZEC-PERP
BloFin ZEC-USDT
Kalshi KXZECPERP
Perpl ZEC
gTrade (Gains Network) ZEC/USD
Orderly PERP_ZEC_USDC
GMX ZEC/USD [WBTC.b-USDC]
01 Exchange ZECUSDShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Popdex ZECUSDT | +0.0096% | 1h | 1,447.6 | +0.064% | $172K | $1.7M | 50x | as long as short |
| Katana Perps ZEC-USD | +0.0100% | 8h | 1,447.2 | +0.037% | $10K | $874K | 10x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,447.5 | +0.059% | $60K | $43K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,447.4 | +0.054% | $2.5M | $6.3M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,448.7 | +0.140% | $753.6M | $434.2M | 10x | as long as short |
| Aster ZECUSDT | +0.0100% | 8h | 1,447.6 | +0.066% | $14.4M | $27.7M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,447.7 | +0.069% | $1.6M | $2.5M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,448.1 | +0.096% | $664.2M | $2.21B | 75x | as long as short |
| Bybit ZECUSDT | +0.0100% | 8h | 1,447.4 | +0.050% | $261.2M | $602.9M | 75x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0100% | 8h | 1,448 | +0.091% | $177.1M | $1.22B | 50x | as long as short |
| Ondo Perps ZEC-USD.P | +0.0100% | 1h | 1,448.7 | +0.140% | $394K | $449K | 5x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,449.4 | +0.191% | $876K | $23K | 10x | as long as short |
| Gate ZEC_USDT | +0.0100% | 8h | 1,447.9 | +0.086% | $49.8M | $172.1M | 75x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,448 | +0.092% | $214.0M | $767.6M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,447.6 | +0.063% | $101.9M | $55.0M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,448 | +0.095% | $161.8M | $272.2M | 75x | as long as short |
| BingX ZEC-USDC | +0.0100% | 8h | 1,447.8 | +0.079% | — | $6.7M | — | as long as short |
| Backpack ZEC_USDC_PERP | +0.0100% | 1h | 1,448.7 | +0.138% | $2.5M | $3.8M | 15x | as long as short |
| Variational Omni ZEC | +0.0100% | 8h | 1,451.4 | +0.327% | $47.5M | $32.8M | — | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,449.2 | +0.178% | $564K | $8.7M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,448.8 | +0.146% | $3.0M | $424K | 10x | as long as short |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,448.4 | +0.120% | $407K | $913K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,449.7 | +0.209% | $49K | $4.7M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,447.3 | +0.044% | $365K | $1.8M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,448.3 | +0.114% | $160K | $185K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,446.7 | +0.002% | $442K | $521K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,450.2 | +0.241% | $3K | $1.1M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,447.8 | +0.075% | $232K | $3.4M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,447 | +0.020% | $2.6M | $18.2M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,447.6 | +0.064% | $3.8M | $5.1M | 50x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,447.6 | +0.066% | $2.8M | $7.7M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,447.6 | +0.064% | $47K | $151K | 20x | as long as short |
| Phoenix ZECshort | +0.0123% | 1h | 1,450.6 | +0.272% | $4.6M | $1.3M | 10x | |
| Deribit ZEC_USDC-PERPETUAL | +0.0272% | 1h | 1,448.4 | +0.122% | $608K | $1.3M | 25x | as long as short |
| Kraken Futures PF_ZECUSD | +0.0279% | 1h | 1,447.5 | +0.058% | $17.9M | $44.7M | 25x | as long as short |
| Lighter ZEC | +0.0320% | 1h | 1,448.7 | +0.139% | $19.0M | $45.8M | 20x | as long as short |
| Lighter RH ZEC | +0.0384% | 1h | 1,449.4 | +0.186% | $2.0M | $6.9M | 10x | as long as short |
| RISEx ZEC/USDC | +0.0412% | 1h | 1,448.2 | +0.104% | $829K | $1.0M | 10x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0448% | 1h | 1,449.9 | +0.225% | $3.7M | $8.9M | 50x | as long as short |
| Arcus ZEC-USD | +0.0626% | 1h | 1,449.9 | +0.223% | $731K | $8.3M | 10x | as long as short |
| Aftermath Perps ZECUSD | +0.0680% | 1h | 1,449.9 | +0.220% | $44K | $49K | 10x | as long as short |
Popdex ZECUSDT
Katana Perps ZEC-USD
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Hyperliquid ZEC
Aster ZECUSDT
Pacifica ZEC
Binance ZECUSDT
Bybit 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-USDC
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
Extended ZEC-USD
Aevo ZEC-PERP
Deribit ZEC_USDC-PERPETUAL
Kraken Futures PF_ZECUSD
Lighter ZEC
Lighter RH ZEC
RISEx ZEC/USDC
Coinbase International ZEC-PERP-INTX
Arcus ZEC-USD
Aftermath Perps ZECUSD