Funding you earn now, next payment 06:00 UTC−0.0034%/8h= −3.7% APRpaid last 24h −0.036%
Price spread now: Bybit against Phoenix−0.203%7-day average −0.132% · you buy dearer than you sell
Net, funding: paid 7d − costs−$66as in the Funding arb table
Net, price: spread back to 7d avg − costs−$34as in the Price arb table
costs, in and out, $10k−$270.267% of the position
Funding, last 7 days−0.398%−$40 on $10k
+Price spread, last 7 days+0.031%+$3 · spread now −0.203%, 7d avg −0.132%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bybit is 0.071% cheaper against Phoenix than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.132%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix ZEC | 1,485 | 0.0134 | pay 0.0017% / 1h | 43m 21s | $4.7M | $1.4M | 10x |
| Short | Bybit ZECUSDT | 1,482 | 0.0100 | get 0.0100% / 8h | 1h 43m | $269.0M | $624.4M | 75x |
Phoenix ZEC
Bybit ZECUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- −$7.06
- Price spread: −0.203% → −0.132%
- −$7.05
- Slippage, 4 orders
- −$8.73
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$40.85
- Costs to cover
- 0.267%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 6 min ago; Bybit: live order book, 6 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, 6 min ago | 1.68 bp | 6.4 bp −$6 | 14.4 bp −$144 | 120.9 bp −$12.1K | doesn't fit |
| Sell Bybit live order book, 6 min ago | 0.03 bp | 6.8 bp −$7 | 9.5 bp −$95 | 18.7 bp −$1,874 | 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 | −0.3684% | 1h | 1,484.2 | −0.053% | $34K | $273K | 12x | as long as short |
| BloFin ZEC-USDT | −0.0118% | 8h | 1,486.7 | +0.114% | $30.8M | $73.9M | 75x | as long as short |
| Bulk ZEC-USD | −0.0097% | 1h | 1,490.7 | +0.383% | $901K | $15K | 10x | as long as short |
| Kraken Futures PF_ZECUSD | −0.0097% | 1h | 1,484.2 | −0.049% | $18.0M | $46.5M | 25x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,482.7 | −0.153% | $6K | $1K | 10x | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,482.3 | −0.180% | $412K | $35K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,485.5 | +0.034% | $1.6M | $4.7M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,481.8 | −0.211% | $61K | $297K | 10x | as long as short |
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,482.3 | −0.180% | $5.3M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0074% | 8h | 1,481.9 | −0.208% | $298K | $1.1M | 20x | as long as short |
Injective ZEC/USDC PERP
BloFin ZEC-USDT
Bulk ZEC-USD
Kraken Futures PF_ZECUSD
Hotstuff ZEC-PERP
dYdX ZEC-USD
Kalshi KXZECPERP
Perpl ZEC
gTrade (Gains Network) ZEC/USD
Orderly PERP_ZEC_USDCShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Popdex ZECUSDT | +0.0096% | 1h | 1,482.2 | −0.186% | $158K | $1.7M | 50x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,485.2 | +0.018% | $2.8M | $6.6M | 10x | as long as short |
| Aster ZECUSDT | +0.0100% | 8h | 1,482.2 | −0.188% | $13.8M | $30.8M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,482.4 | −0.172% | $1.7M | $2.4M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,482.4 | −0.172% | $690.1M | $2.29B | 75x | as long as short |
| Bybit ZECUSDTshort | +0.0100% | 8h | 1,482 | −0.203% | $269.0M | $624.4M | 75x | |
| OKX ZEC-USDT-SWAP | +0.0100% | 8h | 1,482.2 | −0.187% | $179.4M | $1.31B | 50x | as long as short |
| Ondo Perps ZEC-USD.P | +0.0100% | 1h | 1,484.2 | −0.051% | $405K | $505K | 5x | as long as short |
| Gate ZEC_USDT | +0.0100% | 8h | 1,482.3 | −0.180% | $54.3M | $180.5M | 75x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,482.2 | −0.186% | $238.6M | $777.5M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,482.2 | −0.189% | $101.9M | $57.0M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,482.2 | −0.185% | $159.9M | $287.8M | 75x | as long as short |
| BingX ZEC-USDC | +0.0100% | 8h | 1,482 | −0.197% | — | $6.7M | — | as long as short |
| Backpack ZEC_USDC_PERP | +0.0100% | 1h | 1,484.7 | −0.021% | $2.3M | $3.9M | 15x | as long as short |
| Variational Omni ZEC | +0.0100% | 8h | 1,484.4 | −0.039% | $48.5M | $33.9M | — | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,484.8 | −0.013% | $568K | $8.9M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,485.5 | +0.036% | $3.0M | $488K | 10x | as long as short |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,486.5 | +0.103% | $411K | $933K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,485 | +0.001% | $56K | $4.6M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,481.4 | −0.240% | $358K | $1.7M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,482.4 | −0.176% | $163K | $185K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,482.8 | −0.145% | $453K | $500K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,486.3 | +0.092% | $3K | $1.2M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,484.2 | −0.049% | $253K | $3.5M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,483 | −0.132% | $2.6M | $19.5M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,485.1 | +0.007% | $4.0M | $5.0M | 50x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,482.2 | −0.188% | $61K | $43K | 10x | as long as short |
| Katana Perps ZEC-USD | +0.0100% | 8h | 1,482.1 | −0.192% | $11K | $864K | 10x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,482.4 | −0.171% | $2.7M | $7.9M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,483.5 | −0.096% | $42K | $152K | 20x | as long as short |
| 01 Exchange ZECUSD | +0.0120% | 1h | 1,482.8 | −0.149% | $8K | $7K | 5x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0124% / S −0.0113% | 1h | 1,482.1 | −0.195% | $429K | — | 100x | as long as short |
| RISEx ZEC/USDC | +0.0129% | 1h | 1,482.5 | −0.167% | $927K | $1.2M | 10x | as long as short |
| Phoenix ZEClong | +0.0134% | 1h | 1,485 | long leg | $4.7M | $1.4M | 10x | |
| Deribit ZEC_USDC-PERPETUAL | +0.0151% | 1h | 1,484.7 | −0.020% | $706K | $1.4M | 25x | as long as short |
| Aftermath Perps ZECUSD | +0.0181% | 1h | 1,484.5 | −0.029% | $48K | $63K | 10x | as long as short |
| Hyperliquid ZEC | +0.0186% | 1h | 1,483.5 | −0.098% | $770.7M | $441.0M | 10x | as long as short |
| Arcus ZEC-USD | +0.0221% | 1h | 1,484.3 | −0.044% | $622K | $8.6M | 10x | as long as short |
| Lighter ZEC | +0.0272% | 1h | 1,483 | −0.130% | $19.4M | $45.6M | 20x | as long as short |
| Lighter RH ZEC | +0.0280% | 1h | 1,483.8 | −0.077% | $2.1M | $7.3M | 10x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0480% | 1h | 1,486.3 | +0.088% | $3.6M | $9.9M | 50x | as long as short |
Popdex ZECUSDT
Nado ZEC-PERP
Aster ZECUSDT
Pacifica ZEC
Binance ZECUSDT
OKX ZEC-USDT-SWAP
Ondo Perps ZEC-USD.P
Gate ZEC_USDT
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDC
Backpack ZEC_USDC_PERP
Variational Omni ZEC
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
Paradex ZEC-USD-PERP
Katana Perps ZEC-USD
Extended ZEC-USD
Aevo ZEC-PERP
01 Exchange ZECUSD
GMX ZEC/USD [WBTC.b-USDC]
RISEx ZEC/USDC
Deribit ZEC_USDC-PERPETUAL
Aftermath Perps ZECUSD
Hyperliquid ZEC
Arcus ZEC-USD
Lighter ZEC
Lighter RH ZEC
Coinbase International ZEC-PERP-INTX