Funding you earn now, next payment 20:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h −0.038%
Price spread now: Binance against Phoenix+0.049%7-day average −0.139% · you sell dearer than you buy
Net, funding: paid 7d − costs−$83as in the Funding arb table
Net, price: spread back to 7d avg − costs−$4as in the Price arb table
costs, in and out, $10k−$230.227% of the position
Funding, last 7 days−0.599%−$60 on $10k
+Price spread, last 7 days−0.234%−$23 · spread now +0.049%, 7d avg −0.139%
=Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Binance is 0.189% dearer against Phoenix than usual: you sell high and buy low: +$19 more if the spread goes back to its 7-day average of −0.139%. Mind the row above: over the last 7 days funding on this pair cost −0.599%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix ZEC | 1,450.4 | 0.0045 | pay 0.0006% / 1h | 54m 44s | $4.6M | $1.6M | 10x |
| Short | Binance ZECUSDT | 1,451.1 | 0.0096 | get 0.0096% / 8h | 2h 54m | $658.2M | $2.55B | 75x |
Phoenix ZEC
Binance ZECUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Phoenix. 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
- $10.6
- Price spread: +0.049% → −0.139%
- $18.87
- Slippage, 4 orders
- −$5.71
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- $6.76
- Costs to cover
- 0.227%
- Break-even
- 2.5 days
Slippage from Phoenix: live order book, 4 min ago; Binance: 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 Phoenix live order book, 4 min ago | 1.58 bp | 6.3 bp −$6 | 14.0 bp −$140 | 118.0 bp −$11.8K | doesn't fit |
| Sell Binance live order book, 4 min ago | 0.03 bp | 5.1 bp −$5 | 6.8 bp −$68 | 11.0 bp −$1,098 | 22.8 bp −$11.4K |
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 | −0.3476% | 1h | 1,437.6 | −0.880% | $33K | $275K | 12x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,452 | +0.112% | $6K | $2K | 10x | as long as short |
| Kraken Futures PF_ZECUSD | −0.0071% | 1h | 1,454.9 | +0.312% | $17.6M | $44.9M | 25x | as long as short |
| BloFin ZEC-USDT | −0.0065% | 8h | 1,454.9 | +0.314% | $29.2M | $76.1M | 75x | as long as short |
| Variational Omni ZEC | −0.0034% | 8h | 1,451.4 | +0.070% | $45.5M | $32.3M | — | as long as short |
| Bybit ZECUSDT | −0.0015% | 8h | 1,450.3 | −0.006% | $268.4M | $678.1M | 75x | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,451.4 | +0.074% | $409K | $106K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,454.2 | +0.261% | $848K | $5.5M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,453.7 | +0.226% | $82K | $400K | 10x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0006% | 8h | 1,455.4 | +0.345% | $292K | $1.5M | 20x | as long as short |
Injective ZEC/USDC PERP
Hotstuff ZEC-PERP
Kraken Futures PF_ZECUSD
BloFin ZEC-USDT
Variational Omni ZEC
Bybit ZECUSDT
dYdX ZEC-USD
Kalshi KXZECPERP
Perpl ZEC
Orderly PERP_ZEC_USDCShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,455.5 | +0.353% | $5.2M | — | 150x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0035% | 8h | 1,450.1 | −0.021% | $172.1M | $1.36B | 50x | as long as short |
| 01 Exchange ZECUSD | +0.0040% | 1h | 1,454 | +0.248% | $8K | $8K | 5x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0041% / S +0.0061% | 1h | 1,455.3 | +0.338% | $536K | — | 100x | as long as short |
| Phoenix ZEClong | +0.0045% | 1h | 1,450.4 | long leg | $4.6M | $1.6M | 10x | |
| Aster ZECUSDT | +0.0054% | 8h | 1,452.9 | +0.174% | $15.1M | $35.2M | 75x | as long as short |
| Gate ZEC_USDT | +0.0061% | 8h | 1,450.3 | −0.006% | $49.2M | $185.0M | 75x | as long as short |
| Ondo Perps ZEC-USD.P | +0.0078% | 1h | 1,449.9 | −0.032% | $393K | $522K | 5x | as long as short |
| Katana Perps ZEC-USD | +0.0095% | 8h | 1,450.4 | +0.003% | $17K | $886K | 10x | as long as short |
| MEXC ZEC_USDT | +0.0095% | 8h | 1,450.7 | +0.021% | $219.6M | $878.8M | 150x | as long as short |
| Binance ZECUSDTshort | +0.0096% | 8h | 1,451.1 | +0.049% | $658.2M | $2.55B | 75x | |
| Popdex ZECUSDT | +0.0096% | 1h | 1,454.1 | +0.259% | $178K | $2.0M | 50x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,450.5 | +0.012% | $60K | $37K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,455 | +0.322% | $3.0M | $6.9M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,453 | +0.184% | $752.4M | $491.3M | 10x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,451.3 | +0.067% | $1.6M | $3.1M | 10x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,454.9 | +0.312% | $896K | $37K | 10x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,451.5 | +0.077% | $103.6M | $57.3M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,450.4 | −0.001% | $162.1M | $316.9M | 75x | as long as short |
| BingX ZEC-USDC | +0.0100% | 8h | 1,451.2 | +0.060% | — | $6.8M | — | as long as short |
| Backpack ZEC_USDC_PERP | +0.0100% | 1h | 1,456.3 | +0.407% | $2.3M | $4.1M | 15x | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,450.9 | +0.035% | $487K | $9.7M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,452.2 | +0.130% | $3.0M | $501K | 10x | as long as short |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,450.5 | +0.010% | $705K | $604K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,451.1 | +0.052% | $109K | $4.8M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,454.8 | +0.305% | $299K | $2.1M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,455.1 | +0.328% | $127K | $161K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,454.1 | +0.256% | $442K | $493K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,456.4 | +0.414% | $3K | $1.3M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,455.2 | +0.335% | $220K | $4.7M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,452.3 | +0.134% | $2.4M | $25.3M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,454.9 | +0.314% | $3.7M | $5.5M | 50x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,455.5 | +0.356% | $36K | $362K | 20x | as long as short |
| Lighter ZEC | +0.0112% | 1h | 1,452.5 | +0.146% | $18.8M | $53.6M | 20x | as long as short |
| RISEx ZEC/USDC | +0.0219% | 1h | 1,451 | +0.044% | $861K | $2.5M | 10x | as long as short |
| Extended ZEC-USD | +0.0400% | 1h | 1,450.6 | +0.019% | $3.3M | $7.0M | 10x | as long as short |
| Deribit ZEC_USDC-PERPETUAL | +0.0419% | 1h | 1,456.4 | +0.415% | $570K | $1.3M | 25x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0440% | 1h | 1,458.3 | +0.546% | $3.7M | $11.6M | 50x | as long as short |
| Aftermath Perps ZECUSD | +0.0463% | 1h | 1,454.4 | +0.275% | $39K | $32K | 10x | as long as short |
| Arcus ZEC-USD | +0.0518% | 1h | 1,452.9 | +0.177% | $752K | $7.8M | 10x | as long as short |
| Lighter RH ZEC | +0.0624% | 1h | 1,453.2 | +0.196% | $2.0M | $8.4M | 10x | as long as short |
gTrade (Gains Network) ZEC/USD
OKX ZEC-USDT-SWAP
01 Exchange ZECUSD
GMX ZEC/USD [WBTC.b-USDC]
Aster ZECUSDT
Gate ZEC_USDT
Ondo Perps ZEC-USD.P
Katana Perps ZEC-USD
MEXC ZEC_USDT
Popdex ZECUSDT
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Hyperliquid ZEC
Pacifica ZEC
Bulk ZEC-USD
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDC
Backpack ZEC_USDC_PERP
edgeX ZECUSDC
GRVT ZEC_USDT_Perp
ApeX Omni ZECUSDT
StandX ZEC-USD
Polymarket Perps ZEC-USD
Bullet ZEC-USD
Derive ZEC-PERP
SunX ZEC-USDT
SoDEX ZEC-USD
HTX ZEC-USDT
Phemex ZECUSDT
Aevo ZEC-PERP
Lighter ZEC
RISEx ZEC/USDC
Extended ZEC-USD
Deribit ZEC_USDC-PERPETUAL
Coinbase International ZEC-PERP-INTX
Aftermath Perps ZECUSD
Arcus ZEC-USD
Lighter RH ZEC