Funding you earn now, next payment 00:00 UTC+0.0046%/8h= +5.0% APRpaid last 24h −0.027%
Price spread now: BingX against Phoenix−0.220%79s7-day average −0.134% · you buy dearer than you sell
Net, funding: paid 7d − costs−$83as 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−$240.235% of the position
Funding, last 7 days−0.592%−$59 on $10k
+Price spread, last 7 days+0.055%+$6 · spread now −0.220%, 7d avg −0.134%
=Funding pays, the price is against you. BingX is 0.086% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.220% now, against its 7-day average of −0.134%). If the spread goes back, that is −$9 on $10k: about 6.3 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.592%, so the current rate has only just turned in your favour. The two prices were read 79 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 | Phoenix ZEC | 1,475.9 | 0.0054 | pay 0.0007% / 1h | 42m 00s | $4.7M | $1.6M | 10x |
| Short | BingX ZEC-USDT | 1,472.6 | 0.0100 | get 0.0100% / 8h | 7h 42m | — | $100.9M | — |
Phoenix ZEC
BingX ZEC-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX 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
- $9.58
- Price spread: −0.220% → −0.134%
- −$8.62
- Slippage, 4 orders
- −$6.54
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$22.58
- Costs to cover
- 0.235%
- Break-even
- 23.5 days
Slippage from Phoenix: live order book, 2 min ago; BingX: live order book, 7 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, 2 min ago | 1.56 bp | 6.3 bp −$6 | 13.9 bp −$139 | 116.9 bp −$11.7K | doesn't fit |
| Sell BingX live order book, 7 min ago | 0.51 bp | 5.5 bp −$6 | 9.9 bp −$99 | 13.8 bp −$1,382 | 23.7 bp −$11.9K |
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 | −0.3321% | 1h | 1,474.8 | −0.073% | $34K | $275K | 12x | as long as short |
| Kraken Futures PF_ZECUSD | −0.0342% | 1h | 1,472.6 | −0.218% | $17.9M | $43.1M | 25x | as long as short |
| Ondo Perps ZEC-USD.P | −0.0149% | 1h | 1,471.2 | −0.316% | $400K | $519K | 5x | as long as short |
| BloFin ZEC-USDT | −0.0103% | 8h | 1,471.5 | −0.299% | $29.7M | $73.9M | 75x | as long as short |
| Bybit ZECUSDT | −0.0082% | 8h | 1,472 | −0.265% | $275.0M | $640.7M | 75x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,472.5 | −0.229% | $6K | $2K | 10x | as long as short |
| Variational Omni ZEC | −0.0059% | 8h | 1,473.5 | −0.161% | $47.7M | $34.4M | — | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,472.9 | −0.204% | $415K | $104K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,472.2 | −0.247% | $959K | $5.4M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,472.6 | −0.222% | $84K | $405K | 10x | as long as short |
Injective ZEC/USDC PERP
Kraken Futures PF_ZECUSD
Ondo Perps ZEC-USD.P
BloFin ZEC-USDT
Bybit ZECUSDT
Hotstuff ZEC-PERP
Variational Omni ZEC
dYdX ZEC-USD
Kalshi KXZECPERP
Perpl ZECShow 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 | 1,472.9 | −0.200% | $5.2M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0015% | 8h | 1,472.4 | −0.234% | $294K | $1.4M | 20x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0041% | 8h | 1,472.5 | −0.227% | $182.1M | $1.31B | 50x | as long as short |
| Phoenix ZEClong | +0.0054% | 1h | 1,475.9 | long leg | $4.7M | $1.6M | 10x | |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0055% / S −0.0010% | 1h | 1,472.7 | −0.213% | $378K | — | 100x | as long as short |
| 01 Exchange ZECUSD | +0.0064% | 1h | 1,473.3 | −0.171% | $8K | $8K | 5x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,472.5 | −0.228% | $176K | $1.9M | 50x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,472.2 | −0.251% | $60K | $39K | 10x | as long as short |
| Katana Perps ZEC-USD | +0.0100% | 8h | 1,472.2 | −0.250% | $14K | $840K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,472.8 | −0.211% | $2.6M | $6.7M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,473.9 | −0.133% | $764.9M | $459.9M | 10x | as long as short |
| Aster ZECUSDT | +0.0100% | 8h | 1,472.3 | −0.240% | $14.9M | $32.1M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,472.3 | −0.240% | $1.7M | $2.9M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,472.3 | −0.240% | $684.2M | $2.41B | 75x | as long as short |
| Arcus ZEC-USD | +0.0100% | 1h | 1,473.5 | −0.161% | $696K | $8.5M | 10x | as long as short |
| Gate ZEC_USDT | +0.0100% | 8h | 1,472.7 | −0.213% | $51.5M | $178.6M | 75x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,472.3 | −0.245% | $230.7M | $822.9M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,472.6 | −0.222% | $105.1M | $55.9M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,472.5 | −0.226% | $163.8M | $295.3M | 75x | as long as short |
| BingX ZEC-USDTshort | +0.0100% | 8h | 1,472.6 | −0.220% | — | $100.9M | — | |
| edgeX ZECUSDC | +0.0100% | 4h | 1,474.6 | −0.086% | $574K | $9.2M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,473.4 | −0.168% | $3.0M | $454K | 10x | as long as short |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,475.9 | +0.001% | $432K | $859K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,473.3 | −0.175% | $110K | $4.8M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,472.2 | −0.249% | $333K | $1.8M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,472.4 | −0.234% | $128K | $159K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,470.8 | −0.347% | $458K | $509K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,474.7 | −0.077% | $3K | $1.2M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,472.5 | −0.232% | $243K | $4.2M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,471.6 | −0.292% | $2.5M | $21.7M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,473.4 | −0.166% | $3.9M | $5.4M | 50x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,474.3 | −0.104% | $897K | $28K | 10x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,472.5 | −0.227% | $3.2M | $7.0M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,472.4 | −0.237% | $72K | $173K | 20x | as long as short |
| Lighter ZEC | +0.0112% | 1h | 1,474.1 | −0.123% | $19.2M | $50.3M | 20x | as long as short |
| RISEx ZEC/USDC | +0.0228% | 1h | 1,473.3 | −0.177% | $842K | $1.1M | 10x | as long as short |
| Deribit ZEC_USDC-PERPETUAL | +0.0281% | 1h | 1,473.7 | −0.150% | $615K | $1.3M | 25x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0448% | 1h | 1,474.1 | −0.119% | $3.8M | $10.4M | 50x | as long as short |
| Backpack ZEC_USDC_PERP | +0.0584% | 1h | 1,473.8 | −0.143% | $2.5M | $3.8M | 15x | as long as short |
| Lighter RH ZEC | +0.0768% | 1h | 1,475.3 | −0.039% | $2.0M | $8.0M | 10x | as long as short |
| Aftermath Perps ZECUSD | +0.0776% | 1h | 1,473.8 | −0.139% | $44K | $48K | 10x | as long as short |
gTrade (Gains Network) ZEC/USD
Orderly PERP_ZEC_USDC
OKX ZEC-USDT-SWAP
GMX ZEC/USD [WBTC.b-USDC]
01 Exchange ZECUSD
Popdex ZECUSDT
Paradex ZEC-USD-PERP
Katana Perps ZEC-USD
Nado ZEC-PERP
Hyperliquid ZEC
Aster ZECUSDT
Pacifica ZEC
Binance ZECUSDT
Arcus ZEC-USD
Gate ZEC_USDT
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
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
Bulk ZEC-USD
Extended ZEC-USD
Aevo ZEC-PERP
Lighter ZEC
RISEx ZEC/USDC
Deribit ZEC_USDC-PERPETUAL
Coinbase International ZEC-PERP-INTX
Backpack ZEC_USDC_PERP
Lighter RH ZEC
Aftermath Perps ZECUSD