Funding arb · Price arb /

ZEC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0036%/8h= −3.9% APRpaid last 24h −0.025%

Price spread now: 01 Exchange against Phemex−0.171%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Phemex Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and 01 Exchange is 0.171% cheaper against Phemex than usual: you would sell low and buy high (−$17 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex ZECUSDT	1,475.8	0.0100	pay 0.0100% / 8h	6h 25m	$3.9M	$5.4M	50x
Short	01 Exchange ZECUSD	1,473.3	0.0064	get 0.0008% / 1h	25m 30s	$8K	$9K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −0.171%Rate

Funding earned: −$7.56
Price spread: −0.171% → 0.000%: −$17.14
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$43.7
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 3 min ago; 01 Exchange: no order-book sample. Net counts fees only.

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	3.76 bp	15.7 bp −$16	19.9 bp −$199	doesn't fit	doesn't fit
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	1,475.4	−0.026%	$34K	$274K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,473.3	−0.171%	$6K	$1K	10x	as long as short
Ondo Perps ZEC-USD.P	−0.0020%	1h	1,474.1	−0.117%	$400K	$518K	5x	as long as short
Kraken Futures PF_ZECUSD	−0.0002%	1h	1,475.4	−0.030%	$18.1M	$43.7M	25x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,473.2	−0.175%	$415K	$54K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,475.4	−0.032%	$976K	$5.0M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,473	−0.194%	$84K	$254K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,474.8	−0.072%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0027%	8h	1,476	+0.013%	$295K	$1.1M	20x	as long as short
Variational Omni ZEC	+0.0048%	8h	1,474.4	−0.095%	$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	1,474.6	−0.081%	$385K	—	100x	as long as short
01 Exchange ZECUSDshort	+0.0064%	1h	1,473.3	−0.171%	$8K	$9K	5x
Phoenix ZEC	+0.0070%	1h	1,476.1	+0.020%	$4.7M	$1.5M	10x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,473.2	−0.175%	$173K	$1.8M	50x	as long as short
OKX ZEC-USDT-SWAP	+0.0097%	8h	1,473.1	−0.185%	$181.4M	$1.27B	50x	as long as short
Katana Perps ZEC-USD	+0.0100%	8h	1,473	−0.191%	$14K	$842K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,473.4	−0.164%	$61K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,473.9	−0.130%	$2.6M	$6.6M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,474.2	−0.110%	$767.4M	$445.3M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,472.7	−0.210%	$14.8M	$30.8M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,473.3	−0.171%	$1.7M	$2.7M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,473.4	−0.167%	$681.0M	$2.33B	75x	as long as short
Bybit ZECUSDT	+0.0100%	8h	1,472.9	−0.197%	$271.5M	$617.4M	75x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,476.6	+0.052%	$896K	$18K	10x	as long as short
Gate ZEC_USDT	+0.0100%	8h	1,472.8	−0.208%	$50.3M	$175.8M	75x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,473.9	−0.129%	$216.1M	$799.9M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,473	−0.190%	$103.6M	$56.3M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,473.2	−0.178%	$163.7M	$283.5M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,472.9	−0.197%	—	$6.7M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,475.3	−0.034%	$575K	$9.0M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,475	−0.053%	$3.0M	$443K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,474	−0.121%	$429K	$907K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,476.6	+0.050%	$71K	$4.7M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,472.9	−0.198%	$346K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,473.8	−0.136%	$128K	$159K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,474.5	−0.090%	$459K	$511K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,477.9	+0.144%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,475.4	−0.026%	$243K	$3.7M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,475.8	−0.001%	$2.5M	$18.8M	75x	as long as short
Phemex ZECUSDTlong	+0.0100%	8h	1,475.8	long leg	$3.9M	$5.4M	50x
Extended ZEC-USD	+0.0104%	1h	1,472.8	−0.204%	$3.2M	$7.0M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,476	+0.010%	$48K	$162K	20x	as long as short
Arcus ZEC-USD	+0.0254%	1h	1,474.6	−0.082%	$689K	$8.7M	10x	as long as short
Lighter ZEC	+0.0272%	1h	1,474.6	−0.080%	$19.3M	$48.1M	20x	as long as short
Lighter RH ZEC	+0.0280%	1h	1,474.9	−0.066%	$2.1M	$7.1M	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0292%	1h	1,476.8	+0.064%	$614K	$1.3M	25x	as long as short
RISEx ZEC/USDC	+0.0374%	1h	1,473.7	−0.143%	$865K	$1.0M	10x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0472%	1h	1,477.4	+0.105%	$3.7M	$9.5M	50x	as long as short
Backpack ZEC_USDC_PERP	+0.0498%	1h	1,475.2	−0.045%	$2.5M	$3.9M	15x	as long as short
Aftermath Perps ZECUSD	+0.0735%	1h	1,474.9	−0.065%	$44K	$46K	10x	as long as short