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Funding arb · Price arb /

ZEC

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%
Price spread now: Phemex against GRVT+0.707%77s7-day average +0.058% · you sell dearer than you buy
Net, funding: paid 7d − costs−$65as 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−$490.494% of the position
Long on GRVTShort on Phemex
What this pair did over the last
the charts below follow
Funding, last 7 days−0.151%−$15 on $10k
Price spread, last 4 days (all we have)−0.062%−$6 · spread now +0.707%, 7d avg +0.058%
Together, before fees−0.213%+ Points / potential airdropGRVT: Active · farm board−$21 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 0.649% dearer against GRVT than usual: you sell high and buy low, +$65 on $10k if it goes back to its 7-day average of +0.058%. The two prices were read 77 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongGRVT ZEC_USDT_Perp1,477.90.0100pay 0.0100% / 8h2h 21m$3.0M$462K10x
ShortPhemex ZECUSDT1,488.40.0100get 0.0100% / 8h2h 21m$3.9M$4.8M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phemex against GRVT. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$0
Price spread: +0.707% → +0.058%
$64.88
Slippage, 4 orders
−$28.42
Fee GRVT: 4.5 bp × 2 orders
−$9
Fee Phemex: 6 bp × 2 orders
−$12
Net
$15.46
Costs to cover
0.494%
Break-even
from the start
Slippage from GRVT: live order book, 2 min ago; Phemex: live order book, 2 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy GRVT live order book, 2 min ago1.62 bp6.1 bp −$68.1 bp −$8115250.1 bp −$1.53M116153.8 bp −$58.08M
Sell Phemex live order book, 2 min ago6.79 bp20.8 bp −$2135.2 bp −$352doesn't fitdoesn't fit

ZEC on 51 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective ZEC/USDC PERP−0.3243%1h1,461.8−1.093%$34K$272K12xas long as short
BloFin ZEC-USDT−0.0098%8h1,482.6+0.318%$30.1M$71.9M75xas long as short
Hotstuff ZEC-PERP−0.0080%1h1,481.1+0.216%$6K$1K10xas long as short
dYdX ZEC-USD0.0000%1h1,482.4+0.303%$412K$37K5xas long as short
Kalshi KXZECPERP0.0000%8h1,482.5+0.306%$1.6M$4.5M2.2xas long as short
Perpl ZEC0.0000%43m1,483.5+0.373%$85K$239K10xas long as short
gTrade (Gains Network) ZEC/USDL +0.0007% / S −0.0007%1h1,484.4+0.438%$5.3M—150xas long as short
Orderly PERP_ZEC_USDC+0.0063%8h1,487.2+0.626%$298K$896K20xas long as short
01 Exchange ZECUSD+0.0064%1h1,484.4+0.436%$8K$7K5xas long as short
Phoenix ZEC+0.0092%1h1,475.1−0.192%$4.7M$1.3M10xas long as short
Show all 51 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bybit ZECUSDT+0.0093%8h1,492.5+0.984%$267.7M$601.6M75xas long as short
Popdex ZECUSDT+0.0096%1h1,484.4+0.438%$174K$1.6M50xas long as short
Katana Perps ZEC-USD+0.0100%8h1,484.1+0.415%$11K$823K10xas long as short
Paradex ZEC-USD-PERP+0.0100%8h1,483.2+0.356%$61K$43K10xas long as short
Nado ZEC-PERP+0.0100%1h1,484.5+0.443%$2.8M$6.4M10xas long as short
Hyperliquid ZEC+0.0100%1h1,492.9+1.013%$778.1M$423.5M10xas long as short
Aster ZECUSDT+0.0100%8h1,492.2+0.965%$14.7M$28.5M75xas long as short
Pacifica ZEC+0.0100%1h1,482.7+0.322%$1.7M$2.4M10xas long as short
Binance ZECUSDT+0.0100%8h1,492.9+1.010%$692.9M$2.19B75xas long as short
OKX ZEC-USDT-SWAP+0.0100%8h1,492.6+0.990%$180.7M$1.24B50xas long as short
Ondo Perps ZEC-USD.P+0.0100%1h1,474.6−0.226%$400K$433K5xas long as short
Bulk ZEC-USD+0.0100%1h1,479.3+0.091%$894K$15K10xas long as short
Gate ZEC_USDT+0.0100%8h1,492.5+0.984%$54.0M$173.3M75xas long as short
MEXC ZEC_USDT+0.0100%8h1,493.3+1.040%$233.3M$767.8M150xas long as short
KuCoin ZECUSDTM+0.0100%8h1,492.2+0.962%$106.3M$53.1M75xas long as short
Bitget ZECUSDT+0.0100%8h1,493+1.019%$168.3M$270.4M75xas long as short
BingX ZEC-USDT+0.0100%8h1,492.5+0.986%—$112.4M—as long as short
Variational Omni ZEC+0.0100%8h1,473.7−0.288%$48.3M$32.4M—as long as short
edgeX ZECUSDC+0.0100%4h1,475−0.199%$556K$8.5M20xas long as short
GRVT ZEC_USDT_Perplong+0.0100%8h1,477.9long leg$3.0M$462K10x
ApeX Omni ZECUSDT+0.0100%1h1,472.9−0.339%$407K$926K50xas long as short
StandX ZEC-USD+0.0100%1h1,479.8+0.127%$50K$4.6M30xas long as short
Polymarket Perps ZEC-USD+0.0100%1h1,484.4+0.438%$366K$1.7M10xas long as short
Bullet ZEC-USD+0.0100%1h1,484.3+0.432%$163K$183K20xas long as short
Derive ZEC-PERP+0.0100%1h1,485.9+0.541%$454K$506K6.7xas long as short
SunX ZEC-USDT+0.0100%8h1,489.1+0.756%$3K$1.1M20xas long as short
SoDEX ZEC-USD+0.0100%1h1,486.7+0.595%$246K$3.3M10xas long as short
HTX ZEC-USDT+0.0100%8h1,488.6+0.718%$2.5M$19.0M75xas long as short
Phemex ZECUSDTshort+0.0100%8h1,488.4+0.707%$3.9M$4.8M50x
GMX ZEC/USD [WBTC.b-USDC]L +0.0100% / S −0.0054%1h1,484.5+0.445%$442K—100xas long as short
Extended ZEC-USD+0.0104%1h1,492.9+1.014%$2.8M$7.8M10xas long as short
Aevo ZEC-PERP+0.0104%1h1,486.8+0.603%$45K$153K20xas long as short
Lighter RH ZEC+0.0120%1h1,489.6+0.787%$2.1M$7.2M10xas long as short
Kraken Futures PF_ZECUSD+0.0145%1h1,487.1+0.623%$18.2M$45.7M25xas long as short
RISEx ZEC/USDC+0.0154%1h1,484+0.408%$937K$1.1M10xas long as short
Lighter ZEC+0.0192%1h1,488.4+0.706%$19.7M$44.1M20xas long as short
Backpack ZEC_USDC_PERP+0.0389%1h1,492.2+0.964%$2.4M$3.7M15xas long as short
Deribit ZEC_USDC-PERPETUAL+0.0453%1h1,488.6+0.719%$633K$1.3M25xas long as short
Coinbase International ZEC-PERP-INTX+0.0496%1h1,489.9+0.806%$3.8M$9.4M50xas long as short
Arcus ZEC-USD+0.0508%1h1,484+0.412%$656K$8.2M10xas long as short
Aftermath Perps ZECUSD+0.0705%1h1,477.4−0.039%$45K$49K10xas long as short