Funding you earn now, next payment 00:00 UTC−0.0046%/8h= −5.0% APRpaid last 24h +0.037%
Price spread now: Phoenix against GRVT+0.090%7-day average +0.138% · you sell dearer than you buy
Net, funding: paid 7d − costs+$8as in the Funding arb table
Net, price: spread back to 7d avg − costs−$31as in the Price arb table
costs, in and out, $10k−$260.263% of the position
Funding, last 7 days+0.345%+$35 on $10k
+Price spread, last 7 days+0.101%+$10 · spread now +0.090%, 7d avg +0.138%
=Together, before fees+0.446%+ Points / potential airdropGRVT: Active · farm board+$45 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Phoenix is 0.048% cheaper against GRVT than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.138%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.345%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GRVT ZEC_USDT_Perp | 1,468 | 0.0100 | pay 0.0100% / 8h | 7h 17m | $3.0M | $447K | 10x |
| Short | Phoenix ZEC | 1,469.3 | 0.0054 | get 0.0007% / 1h | 17m 46s | $4.6M | $1.6M | 10x |
GRVT ZEC_USDT_Perp
Phoenix ZECFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against GRVT. 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
- −$9.58
- Price spread: +0.090% → +0.138%
- −$4.83
- Slippage, 4 orders
- −$10.26
- Fee GRVT: 4.5 bp × 2 orders
- −$9
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$40.68
- Costs to cover
- 0.263%
- Break-even
- never at this rate
Slippage from GRVT: live order book, 1 min ago; Phoenix: live order book, 1 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 GRVT live order book, 1 min ago | 1.71 bp | 6.2 bp −$6 | 9.9 bp −$99 | 9160.3 bp −$916.0K | 85738.9 bp −$42.87M |
| Sell Phoenix live order book, 1 min ago | 1.64 bp | 6.4 bp −$6 | 14.4 bp −$144 | 116.4 bp −$11.6K | 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 | −0.3321% | 1h | 1,470.3 | +0.155% | $34K | $275K | 12x | as long as short |
| Kraken Futures PF_ZECUSD | −0.0344% | 1h | 1,465.8 | −0.151% | $17.8M | $43.0M | 25x | as long as short |
| Ondo Perps ZEC-USD.P | −0.0118% | 1h | 1,467.4 | −0.042% | $399K | $517K | 5x | as long as short |
| BloFin ZEC-USDT | −0.0114% | 8h | 1,464.8 | −0.222% | $29.7M | $72.7M | 75x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,464.4 | −0.245% | $6K | $2K | 10x | as long as short |
| Variational Omni ZEC | −0.0038% | 8h | 1,469.1 | +0.075% | $47.6M | $33.7M | — | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,464.7 | −0.225% | $412K | $103K | 5x | as long as short |
| 01 Exchange ZECUSD | 0.0000% | 1h | 1,464.6 | −0.234% | $8K | $9K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,465.7 | −0.158% | $955K | $5.2M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,463.9 | −0.281% | $83K | $405K | 10x | as long as short |
Injective ZEC/USDC PERP
Kraken Futures PF_ZECUSD
Ondo Perps ZEC-USD.P
BloFin ZEC-USDT
Hotstuff ZEC-PERP
Variational Omni ZEC
dYdX ZEC-USD
01 Exchange ZECUSD
Kalshi KXZECPERP
Perpl ZECShow 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 | 1,465.1 | −0.200% | $5.2M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0017% | 8h | 1,465.3 | −0.188% | $293K | $1.1M | 20x | as long as short |
| Phoenix ZECshort | +0.0054% | 1h | 1,469.3 | +0.090% | $4.6M | $1.6M | 10x | |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0054% / S −0.0010% | 1h | 1,464.8 | −0.218% | $376K | — | 100x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0055% | 8h | 1,465 | −0.204% | $181.1M | $1.29B | 50x | as long as short |
| Bybit ZECUSDT | +0.0075% | 8h | 1,464.9 | −0.213% | $272.9M | $633.3M | 75x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,464.1 | −0.264% | $172K | $1.9M | 50x | as long as short |
| Katana Perps ZEC-USD | +0.0100% | 8h | 1,464 | −0.270% | $15K | $840K | 10x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,464.7 | −0.224% | $60K | $39K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,465.3 | −0.184% | $2.6M | $6.6M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,466.2 | −0.123% | $760.4M | $452.7M | 10x | as long as short |
| Aster ZECUSDT | +0.0100% | 8h | 1,465.4 | −0.178% | $14.9M | $31.7M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,464.9 | −0.212% | $1.7M | $2.8M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,465 | −0.208% | $681.7M | $2.37B | 75x | as long as short |
| Arcus ZEC-USD | +0.0100% | 1h | 1,466 | −0.137% | $704K | $8.5M | 10x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,465.9 | −0.145% | $892K | $22K | 10x | as long as short |
| Gate ZEC_USDT | +0.0100% | 8h | 1,464.9 | −0.209% | $50.6M | $180.4M | 75x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,465.2 | −0.195% | $227.2M | $828.1M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,465.3 | −0.184% | $104.1M | $55.7M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,465.2 | −0.194% | $163.0M | $292.1M | 75x | as long as short |
| BingX ZEC-USDC | +0.0100% | 8h | 1,464.6 | −0.230% | — | $6.7M | — | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,468.4 | +0.029% | $571K | $9.2M | 20x | as long as short |
| GRVT ZEC_USDT_Perplong | +0.0100% | 8h | 1,468 | long leg | $3.0M | $447K | 10x | |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,469.5 | +0.101% | $430K | $869K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,467.3 | −0.046% | $110K | $4.7M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,463.6 | −0.300% | $338K | $1.7M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,464.7 | −0.226% | $127K | $158K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,463.9 | −0.280% | $456K | $509K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,466.9 | −0.075% | $3K | $1.2M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,465.5 | −0.172% | $241K | $3.9M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,464.1 | −0.266% | $2.5M | $21.1M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,465.9 | −0.142% | $3.8M | $5.3M | 50x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,465 | −0.206% | $3.2M | $7.0M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,465.2 | −0.193% | $54K | $164K | 20x | as long as short |
| Lighter ZEC | +0.0216% | 1h | 1,466.1 | −0.132% | $19.1M | $50.5M | 20x | as long as short |
| RISEx ZEC/USDC | +0.0228% | 1h | 1,464.7 | −0.226% | $850K | $1.1M | 10x | as long as short |
| Deribit ZEC_USDC-PERPETUAL | +0.0228% | 1h | 1,466.2 | −0.121% | $603K | $1.3M | 25x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0448% | 1h | 1,466.4 | −0.108% | $3.7M | $9.6M | 50x | as long as short |
| Backpack ZEC_USDC_PERP | +0.0521% | 1h | 1,466.2 | −0.121% | $2.5M | $3.9M | 15x | as long as short |
| Lighter RH ZEC | +0.0752% | 1h | 1,467.8 | −0.012% | $2.0M | $8.3M | 10x | as long as short |
| Aftermath Perps ZECUSD | +0.0764% | 1h | 1,468 | −0.001% | $43K | $46K | 10x | as long as short |
gTrade (Gains Network) ZEC/USD
Orderly PERP_ZEC_USDC
GMX ZEC/USD [WBTC.b-USDC]
OKX ZEC-USDT-SWAP
Bybit ZECUSDT
Popdex ZECUSDT
Katana Perps ZEC-USD
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Hyperliquid ZEC
Aster ZECUSDT
Pacifica ZEC
Binance ZECUSDT
Arcus ZEC-USD
Bulk ZEC-USD
Gate ZEC_USDT
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDC
edgeX ZECUSDC
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
Lighter ZEC
RISEx ZEC/USDC
Deribit ZEC_USDC-PERPETUAL
Coinbase International ZEC-PERP-INTX
Backpack ZEC_USDC_PERP
Lighter RH ZEC
Aftermath Perps ZECUSD