Funding you earn now, next payment 22:00 UTC−0.0061%/8h= −6.6% APRnext payment −$0.08 per $10,000 · paid last 24h −0.004%
Price spread now: Phoenix against Lighter−0.100%7-day average +0.067% · you buy dearer than you sell
Net, funding: paid 7d − costs−$1as in the Funding arb table
Net, price: spread back to 7d avg − costs−$30as in the Price arb table
costs, in and out, $10k−$140.138% of the position
Funding, last 7 days+0.133%+$13 on $10k
+Price spread, last 7 days+0.188%+$19 · spread now −0.100%, 7d avg +0.067%
=Together, before fees+0.321%+ Points / potential airdropLighter: Season 3 · farm board+$32 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Phoenix is 0.167% cheaper against Lighter than usual: you would sell low and buy high (−$17 if the spread goes back to its 7-day average of +0.067%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.133%, 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 | Lighter ZEC | 1,476.9 | 0.0136 | pay 0.0017% / 1h | 55m 18s | $19.1M | $52.1M | 20x |
| Short | Phoenix ZEC | 1,475.4 | 0.0075 | get 0.0009% / 1h | 55m 18s | $4.7M | $1.6M | 10x |
Lighter ZEC
Phoenix ZECFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Lighter. 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
- −$12.72
- Price spread: −0.100% → +0.067%
- −$16.67
- Slippage, 4 orders
- −$6.79
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$43.18
- Costs to cover
- 0.138%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 9 min ago; Phoenix: 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 Lighter live order book, 9 min ago | 0.08 bp | 1.3 bp −$1 | 1.9 bp −$19 | 9.5 bp −$947 | 66.6 bp −$33.3K |
| Sell Phoenix live order book, 4 min ago | 1.56 bp | 6.2 bp −$6 | 13.7 bp −$137 | 48.4 bp −$4,836 | 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 | −0.3089% | 1h | 1,475.9 | −0.070% | $34K | $275K | 12x | as long as short |
| ApeX Omni ZECUSDT | −0.0365% | 1h | 1,474 | −0.193% | $432K | $827K | 50x | as long as short |
| Ondo Perps ZEC-USD.P | −0.0315% | 1h | 1,473.5 | −0.229% | $400K | $517K | 5x | as long as short |
| Kraken Futures PF_ZECUSD | −0.0224% | 1h | 1,475.3 | −0.107% | $18.0M | $45.0M | 25x | as long as short |
| BloFin ZEC-USDT | −0.0111% | 8h | 1,475 | −0.128% | $29.4M | $75.9M | 75x | as long as short |
| Bybit ZECUSDT | −0.0082% | 8h | 1,474.5 | −0.164% | $273.6M | $665.7M | 75x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,474 | −0.196% | $6K | $2K | 10x | as long as short |
| Variational Omni ZEC | −0.0037% | 8h | 1,473.4 | −0.235% | $47.0M | $33.5M | — | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,473.8 | −0.210% | $415K | $104K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,476.8 | −0.005% | $901K | $5.6M | 2.2x | as long as short |
Injective ZEC/USDC PERP
ApeX Omni ZECUSDT
Ondo Perps ZEC-USD.P
Kraken Futures PF_ZECUSD
BloFin ZEC-USDT
Bybit ZECUSDT
Hotstuff ZEC-PERP
Variational Omni ZEC
dYdX ZEC-USD
Kalshi KXZECPERPShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Perpl ZEC | 0.0000% | 43m | 1,474.6 | −0.153% | $84K | $404K | 10x | as long as short |
| Deribit ZEC_USDC-PERPETUAL | 0.0000% | 1h | 1,476 | −0.059% | $616K | $1.3M | 25x | as long as short |
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,475.6 | −0.086% | $5.2M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0010% | 8h | 1,475.1 | −0.124% | $295K | $1.4M | 20x | as long as short |
| 01 Exchange ZECUSD | +0.0032% | 1h | 1,475.2 | −0.118% | $8K | $8K | 5x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0038% / S +0.0009% | 1h | 1,475.6 | −0.090% | $367K | — | 100x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0040% | 8h | 1,474.9 | −0.135% | $180.1M | $1.35B | 50x | as long as short |
| Gate ZEC_USDT | +0.0046% | 8h | 1,475.3 | −0.109% | $50.5M | $183.7M | 75x | as long as short |
| SoDEX ZEC-USD | +0.0068% | 1h | 1,475.1 | −0.120% | $227K | $4.5M | 10x | as long as short |
| Phoenix ZECshort | +0.0075% | 1h | 1,475.4 | −0.100% | $4.7M | $1.6M | 10x | |
| Popdex ZECUSDT | +0.0096% | 1h | 1,474.6 | −0.153% | $176K | $1.9M | 50x | as long as short |
| Katana Perps ZEC-USD | +0.0097% | 8h | 1,475.3 | −0.109% | $12K | $828K | 10x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,474.3 | −0.174% | $61K | $39K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,474.8 | −0.142% | $2.6M | $6.8M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,476 | −0.060% | $765.9M | $479.7M | 10x | as long as short |
| Aster ZECUSDT | +0.0100% | 8h | 1,475.2 | −0.112% | $15.7M | $32.5M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,474.8 | −0.141% | $1.7M | $2.9M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,475.2 | −0.116% | $682.5M | $2.47B | 75x | as long as short |
| Arcus ZEC-USD | +0.0100% | 1h | 1,475.4 | −0.102% | $715K | $8.3M | 10x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,471.1 | −0.390% | $908K | $26K | 10x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,474.8 | −0.139% | $222.4M | $829.2M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,475 | −0.129% | $104.3M | $56.0M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,475.2 | −0.112% | $163.0M | $304.0M | 75x | as long as short |
| BingX ZEC-USDC | +0.0100% | 8h | 1,474.4 | −0.168% | — | $6.7M | — | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,473.3 | −0.241% | $515K | $9.2M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,474.7 | −0.147% | $3.0M | $482K | 10x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,475.4 | −0.103% | $110K | $4.8M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,474.6 | −0.155% | $348K | $1.9M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,475.1 | −0.122% | $128K | $159K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,473.6 | −0.223% | $449K | $503K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,477.5 | +0.038% | $3K | $1.2M | 20x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,474.4 | −0.166% | $2.5M | $23.3M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,475.3 | −0.105% | $3.9M | $5.3M | 50x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,475.6 | −0.084% | $3.3M | $6.9M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,475 | −0.125% | $37K | $366K | 20x | as long as short |
| RISEx ZEC/USDC | +0.0132% | 1h | 1,475.3 | −0.108% | $836K | $1.3M | 10x | as long as short |
| Lighter ZEClong | +0.0136% | 1h | 1,476.9 | long leg | $19.1M | $52.1M | 20x | |
| Coinbase International ZEC-PERP-INTX | +0.0432% | 1h | 1,477.6 | +0.051% | $3.8M | $11.4M | 50x | as long as short |
| Lighter RH ZEC | +0.0464% | 1h | 1,476.4 | −0.033% | $2.0M | $8.2M | 10x | as long as short |
| Aftermath Perps ZECUSD | +0.0620% | 1h | 1,473.5 | −0.229% | $46K | $47K | 10x | as long as short |
| Backpack ZEC_USDC_PERP | +0.0621% | 1h | 1,474.6 | −0.156% | $2.4M | $3.7M | 15x | as long as short |
Perpl ZEC
Deribit ZEC_USDC-PERPETUAL
gTrade (Gains Network) ZEC/USD
Orderly PERP_ZEC_USDC
01 Exchange ZECUSD
GMX ZEC/USD [WBTC.b-USDC]
OKX ZEC-USDT-SWAP
Gate ZEC_USDT
SoDEX ZEC-USD
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
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDC
edgeX ZECUSDC
GRVT ZEC_USDT_Perp
StandX ZEC-USD
Polymarket Perps ZEC-USD
Bullet ZEC-USD
Derive ZEC-PERP
SunX ZEC-USDT
HTX ZEC-USDT
Phemex ZECUSDT
Extended ZEC-USD
Aevo ZEC-PERP
RISEx ZEC/USDC
Coinbase International ZEC-PERP-INTX
Lighter RH ZEC
Aftermath Perps ZECUSD
Backpack ZEC_USDC_PERP