ZEC

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0337%/8h= +36.9% APRnext payment +$0.42 per $10,000 · paid last 24h +0.049%

Price spread now: Coinbase International against Phoenix+0.074%7-day average +0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$87as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$420.416% of the position

Long on Phoenix Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.458%−$46 on $10k

Price spread, last 3 days (all we have)+0.404%+$40 · spread now +0.074%, 7d avg +0.026%

Together, before fees−0.054%−$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Coinbase International is 0.048% dearer against Phoenix than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.026%. Mind the row above: over the last 7 days funding on this pair cost −0.458%, 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	1,453.6	0.0103	pay 0.0013% / 1h	47m 02s	$4.6M	$1.6M	10x
Short	Coinbase International ZEC-PERP-INTX	1,454.7	0.0440	get 0.0055% / 1h	47m 02s	$3.7M	$11.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.074%Rate

Funding earned: $70.7
Price spread: +0.074% → +0.026%: $4.81
Slippage, 4 orders: −$24.6
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $33.91
Costs to cover: 0.416%
Break-even: 3.6 days

Slippage from Phoenix: live order book, 2 min ago; Coinbase International: live order book, 2 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	2.27 bp	7.4 bp −$7	16.5 bp −$165	121.9 bp −$12.2K	doesn't fit
Sell Coinbase International live order book, 2 min ago	1.96 bp	16.2 bp −$16	20.7 bp −$207	62.3 bp −$6,225	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	−0.3476%	1h	1,437.8	−1.089%	$33K	$275K	12x	as long as short
Hotstuff ZEC-PERP	−0.0080%	1h	1,454.8	+0.077%	$6K	$2K	10x	as long as short
Kraken Futures PF_ZECUSD	−0.0072%	1h	1,451.8	−0.123%	$17.6M	$44.4M	25x	as long as short
BloFin ZEC-USDT	−0.0066%	8h	1,453	−0.042%	$28.9M	$75.2M	75x	as long as short
Variational Omni ZEC	−0.0026%	8h	1,451.7	−0.133%	$45.5M	$32.1M	—	as long as short
Bybit ZECUSDT	−0.0007%	8h	1,451.4	−0.151%	$268.9M	$674.7M	75x	as long as short
dYdX ZEC-USD	0.0000%	1h	1,454.9	+0.083%	$410K	$106K	5x	as long as short
Kalshi KXZECPERP	0.0000%	8h	1,453.9	+0.021%	$846K	$5.5M	2.2x	as long as short
Perpl ZEC	0.0000%	43m	1,453.7	+0.006%	$83K	$401K	10x	as long as short
Deribit ZEC_USDC-PERPETUAL	0.0000%	1h	1,453.2	−0.028%	$566K	$1.3M	25x	as long as short

Show 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	1,453.2	−0.029%	$5.1M	—	150x	as long as short
Orderly PERP_ZEC_USDC	+0.0009%	8h	1,452.7	−0.067%	$291K	$1.5M	20x	as long as short
GMX ZEC/USD [WBTC.b-USDC]	L +0.0037% / S +0.0066%	1h	1,452.8	−0.054%	$543K	—	100x	as long as short
OKX ZEC-USDT-SWAP	+0.0040%	8h	1,452.1	−0.105%	$171.9M	$1.36B	50x	as long as short
Aster ZECUSDT	+0.0062%	8h	1,451.9	−0.117%	$15.2M	$35.1M	75x	as long as short
Gate ZEC_USDT	+0.0063%	8h	1,451.8	−0.124%	$49.1M	$185.6M	75x	as long as short
01 Exchange ZECUSD	+0.0072%	1h	1,454.3	+0.043%	$8K	$8K	5x	as long as short
Ondo Perps ZEC-USD.P	+0.0075%	1h	1,452.8	−0.058%	$394K	$518K	5x	as long as short
Katana Perps ZEC-USD	+0.0095%	8h	1,454.1	+0.028%	$17K	$879K	10x	as long as short
Lighter ZEC	+0.0096%	1h	1,453.4	−0.019%	$18.7M	$53.9M	20x	as long as short
Popdex ZECUSDT	+0.0096%	1h	1,453.7	+0.005%	$177K	$2.0M	50x	as long as short
Paradex ZEC-USD-PERP	+0.0100%	8h	1,453.3	−0.022%	$60K	$37K	10x	as long as short
Nado ZEC-PERP	+0.0100%	1h	1,453.6	−0.005%	$3.0M	$6.8M	10x	as long as short
Hyperliquid ZEC	+0.0100%	1h	1,452.8	−0.060%	$751.3M	$494.2M	10x	as long as short
Pacifica ZEC	+0.0100%	1h	1,454.1	+0.029%	$1.6M	$3.1M	10x	as long as short
Binance ZECUSDT	+0.0100%	8h	1,451.7	−0.137%	$658.2M	$2.54B	75x	as long as short
Bulk ZEC-USD	+0.0100%	1h	1,455	+0.091%	$896K	$37K	10x	as long as short
MEXC ZEC_USDT	+0.0100%	8h	1,452	−0.112%	$218.4M	$882.7M	150x	as long as short
KuCoin ZECUSDTM	+0.0100%	8h	1,451.9	−0.121%	$103.6M	$56.9M	75x	as long as short
Bitget ZECUSDT	+0.0100%	8h	1,452	−0.111%	$161.8M	$315.3M	75x	as long as short
BingX ZEC-USDC	+0.0100%	8h	1,451.3	−0.163%	—	$6.8M	—	as long as short
Backpack ZEC_USDC_PERP	+0.0100%	1h	1,452.2	−0.098%	$2.3M	$4.1M	15x	as long as short
edgeX ZECUSDC	+0.0100%	4h	1,453.4	−0.013%	$487K	$9.8M	20x	as long as short
GRVT ZEC_USDT_Perp	+0.0100%	8h	1,454.1	+0.031%	$3.0M	$501K	10x	as long as short
ApeX Omni ZECUSDT	+0.0100%	1h	1,452.6	−0.069%	$706K	$606K	50x	as long as short
StandX ZEC-USD	+0.0100%	1h	1,454.3	+0.043%	$109K	$4.8M	30x	as long as short
Polymarket Perps ZEC-USD	+0.0100%	1h	1,453.2	−0.030%	$298K	$2.0M	10x	as long as short
Bullet ZEC-USD	+0.0100%	1h	1,452.6	−0.070%	$126K	$161K	20x	as long as short
Derive ZEC-PERP	+0.0100%	1h	1,451.5	−0.148%	$441K	$493K	6.7x	as long as short
SunX ZEC-USDT	+0.0100%	8h	1,456.7	+0.208%	$3K	$1.3M	20x	as long as short
SoDEX ZEC-USD	+0.0100%	1h	1,452.2	−0.100%	$219K	$4.7M	10x	as long as short
HTX ZEC-USDT	+0.0100%	8h	1,453.3	−0.023%	$2.4M	$24.9M	75x	as long as short
Phemex ZECUSDT	+0.0100%	8h	1,451.9	−0.120%	$3.7M	$5.4M	50x	as long as short
Phoenix ZEClong	+0.0103%	1h	1,453.6	long leg	$4.6M	$1.6M	10x
Aevo ZEC-PERP	+0.0104%	1h	1,452.8	−0.056%	$36K	$362K	20x	as long as short
RISEx ZEC/USDC	+0.0219%	1h	1,454.3	+0.042%	$863K	$2.5M	10x	as long as short
Extended ZEC-USD	+0.0232%	1h	1,452.2	−0.097%	$3.3M	$7.0M	10x	as long as short
Coinbase International ZEC-PERP-INTXshort	+0.0440%	1h	1,454.7	+0.074%	$3.7M	$11.5M	50x
Aftermath Perps ZECUSD	+0.0459%	1h	1,453.7	+0.007%	$39K	$32K	10x	as long as short
Arcus ZEC-USD	+0.0518%	1h	1,455.8	+0.150%	$751K	$7.8M	10x	as long as short
Lighter RH ZEC	+0.0728%	1h	1,454.3	+0.043%	$1.9M	$8.4M	10x	as long as short