Funding arb · Price arb /

ZEC

all ZEC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.001%

Price spread now: Aevo against Phemex−0.004%54s7-day average −0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$71as 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−$770.767% of the position

Long on Phemex Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.057%+$6 on $10k

Price spread, last 4 days (all we have)−0.001%$0 · spread now −0.004%, 7d avg −0.024%

Together, before fees+0.057%+$6 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: Aevo is 0.021% dearer against Phemex than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.024%. The two prices were read 54 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	Phemex ZECUSDT	1,515.5	0.0100	pay 0.0100% / 8h	0m 26s	$4.1M	$4.9M	50x
Short	Aevo ZEC-PERP	1,515.4	0.0104	get 0.0013% / 1h	0m 26s	$43K	$151K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Phemex. 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 PhemexbpFee AevobpOrdersPrice spread, now −0.004%Rate

Funding earned: $0.84
Price spread: −0.004% → −0.024%: $2.06
Slippage, 4 orders: −$48.65
Fee Phemex: 6 bp × 2 orders: −$12
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$73.75
Costs to cover: 0.767%
Break-even: 621.6 days

Slippage from Phemex: live order book, 3 min ago; Aevo: live order book, 38 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 Phemex live order book, 3 min ago	2.41 bp	10.9 bp −$11	25.2 bp −$252	doesn't fit	doesn't fit
Sell Aevo live order book, 38 min ago	6.99 bp	28.3 bp −$28	42.8 bp −$428	doesn't fit	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	−0.3442%	1h	1,496.3	−1.268%	$36K	$275K	12x	as long as short
Perpl ZEC	−0.0447%	43m	1,513.9	−0.105%	$62K	$306K	10x	as long as short
Bulk ZEC-USD	−0.0412%	1h	1,508.1	−0.487%	$776K	$147K	10x	as long as short
BloFin ZEC-USDT	−0.0163%	8h	1,515.2	−0.021%	$31.4M	$77.0M	75x	as long as short
Aftermath Perps ZECUSD	−0.0103%	1h	1,511.8	−0.242%	$48K	$59K	10x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,515.1	−0.028%	$6K	$1K	10x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,513.8	−0.109%	$421K	$34K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,514.3	−0.077%	$1.6M	$5.0M	2.2x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,514.9	−0.038%	$5.4M	—	150x	as long as short
Kraken Futures PF_ZECUSD	+0.0011%	1h	1,515	−0.034%	$18.3M	$47.8M	25x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ZEC-USD.P	+0.0070%	1h	1,510	−0.362%	$413K	$552K	5x	as long as short
01 Exchange ZECUSD	+0.0072%	1h	1,515.2	−0.016%	$8K	$6K	5x	as long as short
Orderly PERP_ZEC_USDC	+0.0083%	8h	1,515.2	−0.021%	$305K	$863K	20x	as long as short
Phoenix ZEC	+0.0096%	1h	1,514.3	−0.081%	$4.8M	$1.4M	10x	as long as short
Lighter RH ZEC	+0.0096%	1h	1,515.9	+0.027%	$2.1M	$7.7M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,515.2	−0.021%	$177K	$1.8M	50x	as long as short
Katana Perps ZEC-USD	+0.0097%	8h	1,515	−0.034%	$16K	$897K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,515.1	−0.027%	$62K	$19K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,515.3	−0.012%	$3.1M	$7.7M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,515.6	+0.007%	$792.9M	$447.7M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,514.6	−0.062%	$14.2M	$31.1M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,515	−0.031%	$1.7M	$2.4M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,515.4	−0.009%	$716.1M	$2.33B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,514.6	−0.059%	$273.7M	$628.0M	75x	as long as short
OKX ZEC-USDT-SWAP	+0.0100%	8h	1,515.2	−0.018%	$183.4M	$1.38B	50x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,515	−0.035%	$59.9M	$191.7M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,515.3	−0.016%	$263.6M	$832.4M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,515	−0.032%	$103.8M	$57.2M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,515.3	−0.015%	$163.7M	$294.0M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,514.1	−0.091%	—	$6.7M	—	as long as short
Variational Omni ZEC	+0.0100%	8h	1,513.8	−0.113%	$50.0M	$35.6M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,510.8	−0.307%	$578K	$9.1M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,510.9	−0.306%	$3.1M	$532K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,509.9	−0.367%	$416K	$948K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,514.1	−0.093%	$54K	$4.6M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,515.4	−0.006%	$376K	$1.7M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,515.4	−0.007%	$169K	$193K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,513.2	−0.153%	$462K	$408K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,516.8	+0.086%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,514.5	−0.065%	$256K	$3.6M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,513.2	−0.154%	$2.7M	$21.3M	75x	as long as short
Phemex ZECUSDTlong	+0.0100%	8h	1,515.5	long leg	$4.1M	$4.9M	50x
Extended ZEC-USD	+0.0104%	1h	1,515.2	−0.022%	$2.7M	$8.0M	10x	as long as short
Aevo ZEC-PERPshort	+0.0104%	1h	1,515.4	−0.004%	$43K	$151K	20x
RISEx ZEC/USDC	+0.0128%	1h	1,515.4	−0.006%	$962K	$1.1M	10x	as long as short
Lighter ZEC	+0.0128%	1h	1,516	+0.030%	$19.7M	$47.1M	20x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0146%	1h	1,515.3	−0.015%	$692K	$1.4M	25x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0151% / S −0.0151%	1h	1,515.1	−0.027%	$336K	—	100x	as long as short
Arcus ZEC-USD	+0.0403%	1h	1,515.6	+0.008%	$596K	$8.9M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0416%	1h	1,516.2	+0.047%	$3.7M	$9.8M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0491%	1h	1,515.2	−0.018%	$2.4M	$3.8M	15x	as long as short