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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 23:00 UTC−0.0015%/8h= −1.6% APRpaid last 24h +0.031%
Price spread now: Phoenix against OKX+0.175%46s7-day average +0.138% · you sell dearer than you buy
Net, funding: paid 7d − costs+$40as 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−$230.226% of the position
Long on OKXShort on Phoenix
What this pair did over the last
the charts below follow
Funding, last 7 days+0.627%+$63 on $10k
Price spread, last 7 days−0.018%−$2 · spread now +0.175%, 7d avg +0.138%
Together, before fees+0.609%+$61 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Phoenix is 0.037% dearer against OKX than usual: you sell high and buy low (spread +0.175% now, against its 7-day average of +0.138%): +$4 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 8.3 days. Mind the row above: over the last 7 days funding on this pair paid +0.627%, so the current rate has only just turned against you. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongOKX ZEC-USDT-SWAP1,470.60.0039pay 0.0039% / 8h2m 41s$181.7M$1.34B50x
ShortPhoenix ZEC1,473.20.0024get 0.0003% / 1h2m 41s$4.7M$1.6M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phoenix against OKX. 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

Funding earned
−$3.12
Price spread: +0.175% → +0.138%
$3.7
Slippage, 4 orders
−$5.6
Fee OKX: 5 bp × 2 orders
−$10
Fee Phoenix: 3.5 bp × 2 orders
−$7
Net
−$22.01
Costs to cover
0.226%
Break-even
never at this rate
Slippage from OKX: 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
LegHalf-spread$10k$100k$1M$5M
Buy OKX live order book, 1 min ago0.03 bp5.0 bp −$58.2 bp −$8215.9 bp −$1,590doesn't fit
Sell Phoenix live order book, 1 min ago1.49 bp6.1 bp −$613.4 bp −$134112.2 bp −$11.2Kdoesn'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−0.3089%1h1,475+0.299%$34K$275K12xas long as short
Ondo Perps ZEC-USD.P−0.0262%1h1,471.7+0.073%$399K$521K5xas long as short
Kraken Futures PF_ZECUSD−0.0225%1h1,472.5+0.129%$17.9M$44.0M25xas long as short
Bybit ZECUSDT−0.0117%8h1,470.4−0.018%$274.7M$650.9M75xas long as short
BloFin ZEC-USDT−0.0101%8h1,472.1+0.099%$29.6M$74.7M75xas long as short
Hotstuff ZEC-PERP−0.0080%1h1,473.8+0.219%$6K$2K10xas long as short
Variational Omni ZEC−0.0062%8h1,470.9+0.019%$47.7M$34.5M—as long as short
dYdX ZEC-USD0.0000%1h1,472.1+0.103%$415K$104K5xas long as short
Kalshi KXZECPERP0.0000%8h1,472.2+0.106%$959K$5.6M2.2xas long as short
Perpl ZEC0.0000%43m1,472.8+0.148%$84K$406K10xas long as short
Show all 51 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Deribit ZEC_USDC-PERPETUAL0.0000%1h1,473.7+0.211%$615K$1.3M25xas long as short
gTrade (Gains Network) ZEC/USDL +0.0007% / S −0.0006%1h1,473.4+0.188%$5.2M—150xas long as short
01 Exchange ZECUSD+0.0008%1h1,474.9+0.288%$8K$8K5xas long as short
Orderly PERP_ZEC_USDC+0.0016%8h1,472.7+0.142%$295K$1.4M20xas long as short
Phoenix ZECshort+0.0024%1h1,473.2+0.175%$4.7M$1.6M10x
ApeX Omni ZECUSDT+0.0035%1h1,472.6+0.132%$432K$845K50xas long as short
OKX ZEC-USDT-SWAPlong+0.0039%8h1,470.6long leg$181.7M$1.34B50x
Gate ZEC_USDT+0.0048%8h1,471.6+0.066%$51.2M$188.0M75xas long as short
GMX ZEC/USD [WBTC.b-USDC]L +0.0055% / S −0.0010%1h1,473.1+0.171%$372K—100xas long as short
Lighter ZEC+0.0096%1h1,472.9+0.157%$19.2M$52.6M20xas long as short
Popdex ZECUSDT+0.0096%1h1,474.2+0.243%$175K$1.9M50xas long as short
Katana Perps ZEC-USD+0.0097%8h1,474.8+0.284%$19K$851K10xas long as short
Paradex ZEC-USD-PERP+0.0100%8h1,473.6+0.202%$61K$39K10xas long as short
Nado ZEC-PERP+0.0100%1h1,475+0.297%$2.6M$6.8M10xas long as short
Hyperliquid ZEC+0.0100%1h1,472.5+0.128%$762.8M$472.6M10xas long as short
Aster ZECUSDT+0.0100%8h1,471.3+0.047%$15.0M$32.5M75xas long as short
Pacifica ZEC+0.0100%1h1,471.8+0.078%$1.7M$2.9M10xas long as short
Binance ZECUSDT+0.0100%8h1,470.9+0.018%$683.0M$2.45B75xas long as short
Arcus ZEC-USD+0.0100%1h1,475.1+0.302%$694K$8.4M10xas long as short
Bulk ZEC-USD+0.0100%1h1,472.8+0.147%$896K$38K10xas long as short
MEXC ZEC_USDT+0.0100%8h1,470.9+0.018%$227.9M$847.2M150xas long as short
KuCoin ZECUSDTM+0.0100%8h1,471.8+0.078%$104.5M$56.3M75xas long as short
Bitget ZECUSDT+0.0100%8h1,471.2+0.041%$163.6M$300.9M75xas long as short
BingX ZEC-USDT+0.0100%8h1,471.8+0.083%—$101.7M—as long as short
edgeX ZECUSDC+0.0100%4h1,472.1+0.103%$513K$9.1M20xas long as short
GRVT ZEC_USDT_Perp+0.0100%8h1,474+0.227%$3.0M$454K10xas long as short
StandX ZEC-USD+0.0100%1h1,474.8+0.284%$110K$4.8M30xas long as short
Polymarket Perps ZEC-USD+0.0100%1h1,474.1+0.237%$335K$1.9M10xas long as short
Bullet ZEC-USD+0.0100%1h1,472.7+0.143%$128K$159K20xas long as short
Derive ZEC-PERP+0.0100%1h1,471.4+0.051%$459K$508K6.7xas long as short
SunX ZEC-USDT+0.0100%8h1,475.7+0.347%$3K$1.2M20xas long as short
SoDEX ZEC-USD+0.0100%1h1,472.8+0.145%$241K$4.4M10xas long as short
HTX ZEC-USDT+0.0100%8h1,473+0.159%$2.5M$22.5M75xas long as short
Phemex ZECUSDT+0.0100%8h1,473.1+0.169%$3.9M$5.4M50xas long as short
Extended ZEC-USD+0.0104%1h1,471.6+0.065%$3.2M$7.0M10xas long as short
Aevo ZEC-PERP+0.0104%1h1,473.3+0.179%$37K$366K20xas long as short
RISEx ZEC/USDC+0.0132%1h1,474.8+0.284%$838K$1.3M10xas long as short
Backpack ZEC_USDC_PERP+0.0398%1h1,472.9+0.157%$2.5M$3.8M15xas long as short
Coinbase International ZEC-PERP-INTX+0.0432%1h1,476.4+0.394%$3.8M$10.6M50xas long as short
Lighter RH ZEC+0.0448%1h1,473.6+0.203%$2.0M$8.4M10xas long as short
Aftermath Perps ZECUSD+0.0769%1h1,474.3+0.252%$46K$46K10xas long as short