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% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against KuCoin−0.043%50s7-day average +0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$37as 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−$480.476% of the position

Long on KuCoin Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.105%+$10 on $10k

Price spread, last 3 days (all we have)+0.256%+$26 · spread now −0.043%, 7d avg +0.039%

Together, before fees+0.361%+$36 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 0.082% cheaper against KuCoin than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.039%. The two prices were read 50 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	KuCoin ZECUSDTM	1,474.9	0.0100	pay 0.0100% / 8h	6h 21m	$103.6M	$56.4M	75x
Short	Phemex ZECUSDT	1,474.2	0.0100	get 0.0100% / 8h	6h 21m	$3.9M	$5.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against KuCoin. 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 KuCoinbpFee PhemexbpOrdersPrice spread, now −0.043%Rate

Funding earned: $0
Price spread: −0.043% → +0.039%: −$8.16
Slippage, 4 orders: −$23.63
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$55.79
Costs to cover: 0.476%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 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

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy KuCoin live order book, 3 min ago	0.14 bp	9.3 bp −$9	15.4 bp −$154	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	0.10 bp	18.2 bp −$18	doesn't fit	doesn't fit	doesn't fit

ZEC on 50 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	−0.3678%	1h	1,459.6	−1.039%	$34K	$274K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,475.2	+0.025%	$6K	$1K	10x	as long as short
Ondo Perps ZEC-USD.P	−0.0010%	1h	1,471.4	−0.235%	$400K	$517K	5x	as long as short
Kraken Futures PF_ZECUSD	−0.0002%	1h	1,474.4	−0.032%	$18.1M	$43.8M	25x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,474.4	−0.034%	$415K	$54K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,475.6	+0.046%	$976K	$4.9M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,474.9	+0.001%	$84K	$254K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,474.7	−0.009%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0029%	8h	1,474.9	+0.003%	$294K	$1.0M	20x	as long as short
Variational Omni ZEC	+0.0048%	8h	1,474.4	−0.030%	$48.1M	$32.8M	—	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX ZEC/USD [WBTC.b-USDC]	L +0.0055% / S −0.0009%	1h	1,474.8	−0.008%	$385K	—	100x	as long as short
Phoenix ZEC	+0.0070%	1h	1,474.7	−0.013%	$4.7M	$1.5M	10x	as long as short
01 Exchange ZECUSD	+0.0072%	1h	1,475.1	+0.018%	$8K	$8K	5x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,475	+0.005%	$174K	$1.8M	50x	as long as short
OKX ZEC-USDT-SWAP	+0.0097%	8h	1,474.7	−0.009%	$181.7M	$1.27B	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,474.5	−0.022%	$14K	$840K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,475.2	+0.022%	$61K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,474.1	−0.051%	$2.6M	$6.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,476	+0.077%	$768.6M	$443.0M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,474.6	−0.015%	$14.8M	$30.4M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,475.2	+0.020%	$1.7M	$2.7M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,475	+0.010%	$682.4M	$2.32B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,474.7	−0.010%	$272.3M	$617.2M	75x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,476.6	+0.116%	$896K	$18K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,474.6	−0.016%	$50.4M	$176.0M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,475	+0.009%	$216.6M	$800.8M	150x	as long as short
KuCoin ZECUSDTMlong	+0.0100%	8h	1,474.9	long leg	$103.6M	$56.4M	75x
Bitget ZECUSDT	+0.0100%	8h	1,475	+0.005%	$163.9M	$283.1M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,475.1	+0.015%	—	$100.5M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,472.2	−0.184%	$573K	$9.0M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,473.6	−0.089%	$3.0M	$443K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,473.3	−0.108%	$428K	$898K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,474.4	−0.030%	$71K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,474.7	−0.012%	$347K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,474.9	+0.002%	$128K	$160K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,473.4	−0.099%	$458K	$511K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,476.8	+0.134%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,474.1	−0.054%	$243K	$3.6M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,474.4	−0.035%	$2.5M	$18.7M	75x	as long as short
Phemex ZECUSDTshort	+0.0100%	8h	1,474.2	−0.043%	$3.9M	$5.4M	50x
Extended ZEC-USD	+0.0104%	1h	1,474.8	−0.005%	$3.2M	$7.1M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,474.7	−0.009%	$48K	$162K	20x	as long as short
Arcus ZEC-USD	+0.0254%	1h	1,476.2	+0.090%	$688K	$8.6M	10x	as long as short
Lighter ZEC	+0.0256%	1h	1,476.5	+0.112%	$19.3M	$48.2M	20x	as long as short
Lighter RH ZEC	+0.0288%	1h	1,476.6	+0.119%	$2.1M	$7.1M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0295%	1h	1,475	+0.012%	$614K	$1.3M	25x	as long as short
RISEx ZEC/USDC	+0.0374%	1h	1,475.8	+0.060%	$867K	$1.0M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0472%	1h	1,476.3	+0.096%	$3.6M	$9.4M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0483%	1h	1,474.5	−0.026%	$2.5M	$3.9M	15x	as long as short
Aftermath Perps ZECUSD	+0.0746%	1h	1,475.2	+0.020%	$44K	$46K	10x	as long as short