ZEC

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0076%/8h= +8.3% APRnext payment +$0.10 per $10,000 · paid last 24h −0.039%

Price spread now: Bulk against Phoenix−0.008%51s7-day average −0.127% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$220.215% of the position

Long on Phoenix Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.220%−$22 on $10k

Price spread, last 4 days (all we have)+0.274%+$27 · spread now −0.008%, 7d avg −0.127%

Together, before fees+0.055%+$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Bulk is 0.118% dearer against Phoenix than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of −0.127%. Mind the row above: over the last 3 days funding on this pair cost −0.220%, so the current rate has only just turned in your favour. The two prices were read 51 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	1,473.2	0.0024	pay 0.0003% / 1h	31m 47s	$4.7M	$1.6M	10x
Short	Bulk ZEC-USD	1,473.1	0.0100	get 0.0013% / 1h	31m 47s	$909K	$26K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Phoenix. 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 PhoenixbpFee BulkbpOrdersPrice spread, now −0.008%Rate

Funding earned: $15.98
Price spread: −0.008% → −0.127%: $11.84
Slippage, 4 orders: −$7.54
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: $6.28
Costs to cover: 0.215%
Break-even: 4.3 days

Slippage from Phoenix: live order book, 2 min ago; Bulk: live order book, 47 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	2.17 bp	7.2 bp −$7	17.1 bp −$171	117.8 bp −$11.8K	doesn't fit
Sell Bulk live order book, 47 min ago	0.03 bp	3.5 bp −$4	3.5 bp −$35	4.0 bp −$402	6.6 bp −$3,297

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	−0.3089%	1h	1,474.7	+0.103%	$34K	$275K	12x	as long as short
Ondo Perps ZEC-USD.P	−0.0262%	1h	1,470.1	−0.210%	$399K	$516K	5x	as long as short
Kraken Futures PF_ZECUSD	−0.0225%	1h	1,470	−0.218%	$17.9M	$44.3M	25x	as long as short
Bybit ZECUSDT	−0.0110%	8h	1,469.1	−0.280%	$274.7M	$654.9M	75x	as long as short
BloFin ZEC-USDT	−0.0102%	8h	1,469.8	−0.233%	$29.6M	$75.2M	75x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,469.9	−0.221%	$6K	$2K	10x	as long as short
Variational Omni ZEC	−0.0051%	8h	1,469.5	−0.251%	$47.0M	$33.7M	—	as long as short
ApeX Omni ZECUSDT	−0.0037%	1h	1,472.7	−0.031%	$432K	$832K	50x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,469.8	−0.232%	$414K	$104K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,469.8	−0.227%	$901K	$5.6M	2.2x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Perpl ZEC	0.0000%	43m	1,470.9	−0.155%	$84K	$404K	10x	as long as short
gTrade (Gains Network) ZEC/USD	L +0.0007% / S −0.0006%	1h	1,470.5	−0.185%	$5.2M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0012%	8h	1,470.1	−0.209%	$294K	$1.4M	20x	as long as short
01 Exchange ZECUSD	+0.0016%	1h	1,470.8	−0.162%	$8K	$8K	5x	as long as short
Phoenix ZEClong	+0.0024%	1h	1,473.2	long leg	$4.7M	$1.6M	10x
OKX ZEC-USDT-SWAP	+0.0036%	8h	1,469.7	−0.240%	$180.6M	$1.34B	50x	as long as short
Gate ZEC_USDT	+0.0044%	8h	1,469.7	−0.234%	$50.7M	$186.4M	75x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0054% / S −0.0010%	1h	1,470.4	−0.188%	$371K	—	100x	as long as short
Deribit ZEC_USDC-PERPETUAL	+0.0065%	1h	1,471.1	−0.145%	$614K	$1.3M	25x	as long as short
Lighter ZEC	+0.0096%	1h	1,471.4	−0.122%	$19.1M	$52.4M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,470.5	−0.183%	$176K	$1.9M	50x	as long as short
Katana Perps ZEC-USD	+0.0097%	8h	1,469.7	−0.240%	$13K	$834K	10x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,470.2	−0.201%	$60K	$39K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,470.7	−0.168%	$2.6M	$6.8M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,470.9	−0.157%	$762.3M	$474.0M	10x	as long as short
Aster ZECUSDT	+0.0100%	8h	1,469.8	−0.230%	$15.0M	$32.7M	75x	as long as short
Pacifica ZEC	+0.0100%	1h	1,470.9	−0.154%	$1.7M	$2.9M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,469.7	−0.235%	$683.3M	$2.46B	75x	as long as short
Arcus ZEC-USD	+0.0100%	1h	1,472.3	−0.063%	$721K	$8.3M	10x	as long as short
Bulk ZEC-USDshort	+0.0100%	1h	1,473.1	−0.008%	$909K	$26K	10x
MEXC ZEC_USDT	+0.0100%	8h	1,469.8	−0.234%	$231.6M	$837.5M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,470	−0.214%	$103.5M	$56.0M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,469.8	−0.230%	$162.8M	$302.0M	75x	as long as short
BingX ZEC-USDT	+0.0100%	8h	1,469.7	−0.236%	—	$102.6M	—	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,471.8	−0.096%	$514K	$9.2M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,471.6	−0.107%	$3.0M	$454K	10x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,470.5	−0.184%	$110K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,470.4	−0.189%	$344K	$1.8M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,470.3	−0.193%	$128K	$159K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,468.6	−0.314%	$448K	$498K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,472.7	−0.032%	$3K	$1.2M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,469.7	−0.236%	$238K	$4.4M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,469.7	−0.239%	$2.5M	$23.1M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,470.4	−0.191%	$3.8M	$5.3M	50x	as long as short
Extended ZEC-USD	+0.0104%	1h	1,470.2	−0.206%	$3.3M	$6.9M	10x	as long as short
Aevo ZEC-PERP	+0.0104%	1h	1,470.2	−0.203%	$37K	$366K	20x	as long as short
RISEx ZEC/USDC	+0.0132%	1h	1,471.3	−0.130%	$825K	$1.2M	10x	as long as short
Backpack ZEC_USDC_PERP	+0.0419%	1h	1,470.8	−0.166%	$2.4M	$3.8M	15x	as long as short
Coinbase International ZEC-PERP-INTX	+0.0432%	1h	1,472.3	−0.064%	$3.8M	$10.6M	50x	as long as short
Lighter RH ZEC	+0.0488%	1h	1,472.1	−0.076%	$2.0M	$8.3M	10x	as long as short
Aftermath Perps ZECUSD	+0.0700%	1h	1,472	−0.081%	$46K	$47K	10x	as long as short