Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Phemex against edgeX+2.126%78s7-day average +0.080% · you sell dearer than you buy

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$470.475% of the position

Long on edgeX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.188%−$19 on $10k

Price spread, last 4 days (all we have)−1.188%−$119 · spread now +2.126%, 7d avg +0.080%

Together, before fees−1.375%+ Points / potential airdropedgeX: Active · farm board−$138 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 2.046% dearer against edgeX than usual: you sell high and buy low, +$205 on $10k if it goes back to its 7-day average of +0.080%. The two prices were read 78 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ZECUSDC	1,479.1	0.0100	pay 0.0050% / 4h	2h 20m	$558K	$8.5M	20x
Short	Phemex ZECUSDT	1,510.5	0.0100	get 0.0100% / 8h	2h 20m	$4.0M	$4.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against edgeX. 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 edgeXbpFee PhemexbpOrdersPrice spread, now +2.126%Rate

Funding earned: $0
Price spread: +2.126% → +0.080%: $204.55
Slippage, 4 orders: −$26.5
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Phemex: 6 bp × 2 orders: −$12
Net: $157.05
Costs to cover: 0.475%
Break-even: from the start

Slippage from edgeX: 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 edgeX live order book, 4 min ago	0.61 bp	5.2 bp −$5	9.4 bp −$94	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	+0.943%	$34K	$273K	12x	as long as short
BloFin ZEC-USDT	−0.0108%	8h	1,493.9	+0.999%	$30.3M	$72.6M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,506.1	+1.828%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,503.7	+1.663%	$418K	$36K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,504.1	+1.694%	$1.7M	$4.5M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,508.1	+1.962%	$86K	$239K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,508.8	+2.007%	$5.4M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0064%	8h	1,507.5	+1.924%	$304K	$897K	20x	as long as short
01 Exchange ZECUSD	+0.0064%	1h	1,506.3	+1.838%	$8K	$7K	5x	as long as short
Phoenix ZEC	+0.0092%	1h	1,475.1	−0.268%	$4.7M	$1.3M	10x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ZECUSDT	+0.0095%	8h	1,511.2	+2.170%	$274.6M	$607.6M	75x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,506.1	+1.826%	$143K	$1.7M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,506.4	+1.845%	$62K	$43K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,508	+1.958%	$2.9M	$6.4M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,509.8	+2.078%	$786.6M	$427.0M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,510.9	+2.153%	$14.9M	$28.9M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,504.7	+1.731%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,511.2	+2.174%	$701.4M	$2.21B	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,511.1	+2.167%	$182.2M	$1.28B	50x	as long as short
Ondo Perps ZEC-USD.P	+0.0100%	1h	1,509.9	+2.085%	$403K	$445K	5x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,479.3	+0.014%	$894K	$15K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,508.9	+2.019%	$54.7M	$175.1M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,510.8	+2.145%	$232.7M	$770.7M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,511.1	+2.166%	$106.9M	$53.5M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,508.4	+1.980%	$169.5M	$272.5M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,508.9	+2.019%	—	$112.8M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,494.7	+1.055%	$48.9M	$32.5M	—	as long as short
edgeX ZECUSDClong	+0.0100%	4h	1,479.1	long leg	$558K	$8.5M	20x
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,481.5	+0.162%	$3.0M	$462K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,481.5	+0.163%	$410K	$927K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,495.6	+1.118%	$55K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,508	+1.956%	$373K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,509.2	+2.038%	$166K	$183K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,507.5	+1.920%	$460K	$506K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,510	+2.089%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,510.5	+2.122%	$250K	$3.4M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,509.1	+2.029%	$2.6M	$19.2M	75x	as long as short
Phemex ZECUSDTshort	+0.0100%	8h	1,510.5	+2.126%	$4.0M	$4.9M	50x
Katana Perps ZEC-USD	+0.0100%	8h	1,505.6	+1.796%	$13K	$830K	10x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0101% / S −0.0074%	1h	1,508.5	+1.992%	$399K	—	100x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,507.8	+1.942%	$2.8M	$8.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,508.6	+1.998%	$46K	$153K	20x	as long as short
Lighter RH ZEC	+0.0120%	1h	1,512.2	+2.237%	$2.2M	$7.2M	10x	as long as short
Kraken Futures PF_ZECUSD	+0.0142%	1h	1,510.5	+2.126%	$18.4M	$45.9M	25x	as long as short
RISEx ZEC/USDC	+0.0154%	1h	1,506.1	+1.827%	$948K	$1.1M	10x	as long as short
Lighter ZEC	+0.0200%	1h	1,511.9	+2.221%	$19.9M	$44.5M	20x	as long as short
Backpack ZEC_USDC_PERP	+0.0411%	1h	1,495.6	+1.120%	$2.4M	$3.7M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0496%	1h	1,512.9	+2.287%	$3.7M	$9.7M	50x	as long as short
Arcus ZEC-USD	+0.0508%	1h	1,505.3	+1.774%	$639K	$8.3M	10x	as long as short
Aftermath Perps ZECUSD	+0.0746%	1h	1,483.4	+0.290%	$49K	$58K	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0896%	1h	1,510.3	+2.113%	$645K	$1.3M	25x	as long as short