Funding you earn now, next payment 23:00 UTC−0.0024%/8h= −2.6% APRnext payment −$0.03 per $10,000 · paid last 24h −0.050%
Price spread now: dYdX against Phoenix−0.042%7-day average −0.109% · you buy dearer than you sell
Net, funding: paid 7d − costs−$127as in the Funding arb table
Net, price: spread back to 7d avg − costs−$85as in the Price arb table
costs, in and out, $10k−$920.915% of the position
Funding, last 7 days−0.351%−$35 on $10k
+Price spread, last 4 days (all we have)+0.550%+$55 · spread now −0.042%, 7d avg −0.109%
=The price spread pays, funding is against you. dYdX is 0.066% dearer against Phoenix than usual: you sell high and buy low (spread −0.042% now, against its 7-day average of −0.109%): +$7 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 9.2 days. At the pace of the last 7 days (−0.351% in total) that is about 32 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix ZEC | 1,475.6 | 0.0024 | pay 0.0003% / 1h | 53m 22s | $4.7M | $1.6M | 10x |
| Short | dYdX ZEC-USD | 1,475 | 0 | get 0.0000% / 1h | 53m 22s | $415K | $104K | 5x |
Phoenix ZEC
dYdX ZEC-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
dYdX 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
- −$5.02
- Price spread: −0.042% → −0.109%
- $6.64
- Slippage, 4 orders
- −$74.53
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee dYdX: 5 bp × 2 orders
- −$10
- Net
- −$89.92
- Costs to cover
- 0.915%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 5 min ago; dYdX: live order book, 26 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, 5 min ago | 1.56 bp | 6.2 bp −$6 | 13.6 bp −$136 | 90.3 bp −$9,030 | doesn't fit |
| Sell dYdX live order book, 26 min ago | 30.89 bp | 35.9 bp −$36 | 46.5 bp −$465 | 95.0 bp −$9,499 | 327.1 bp −$163.6K |
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 | 1,475.9 | +0.017% | $34K | $275K | 12x | as long as short |
| ApeX Omni ZECUSDT | −0.0365% | 1h | 1,474 | −0.107% | $432K | $827K | 50x | as long as short |
| Ondo Perps ZEC-USD.P | −0.0326% | 1h | 1,473.5 | −0.143% | $400K | $517K | 5x | as long as short |
| Kraken Futures PF_ZECUSD | −0.0224% | 1h | 1,474.6 | −0.067% | $18.0M | $44.6M | 25x | as long as short |
| BloFin ZEC-USDT | −0.0111% | 8h | 1,474.5 | −0.075% | $29.5M | $75.7M | 75x | as long as short |
| Bybit ZECUSDT | −0.0085% | 8h | 1,473.9 | −0.114% | $273.6M | $661.4M | 75x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,474.2 | −0.098% | $6K | $2K | 10x | as long as short |
| Variational Omni ZEC | −0.0037% | 8h | 1,473.4 | −0.149% | $47.0M | $33.5M | — | as long as short |
| dYdX ZEC-USDshort | 0.0000% | 1h | 1,475 | −0.042% | $415K | $104K | 5x | |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,476.4 | +0.056% | $901K | $5.6M | 2.2x | as long as short |
Injective ZEC/USDC PERP
ApeX Omni ZECUSDT
Ondo Perps ZEC-USD.P
Kraken Futures PF_ZECUSD
BloFin ZEC-USDT
Bybit ZECUSDT
Hotstuff ZEC-PERP
Variational Omni ZEC
Kalshi KXZECPERPShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Perpl ZEC | 0.0000% | 43m | 1,474 | −0.108% | $84K | $404K | 10x | as long as short |
| gTrade (Gains Network) ZEC/USD | L +0.0007% / S −0.0006% | 1h | 1,474.9 | −0.047% | $5.2M | — | 150x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0010% | 8h | 1,474.7 | −0.061% | $295K | $1.4M | 20x | as long as short |
| Deribit ZEC_USDC-PERPETUAL | +0.0019% | 1h | 1,475.5 | −0.011% | $615K | $1.3M | 25x | as long as short |
| Phoenix ZEClong | +0.0024% | 1h | 1,475.6 | long leg | $4.7M | $1.6M | 10x | |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0038% / S +0.0009% | 1h | 1,474.8 | −0.056% | $366K | — | 100x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0039% | 8h | 1,474.3 | −0.089% | $180.6M | $1.35B | 50x | as long as short |
| Gate ZEC_USDT | +0.0044% | 8h | 1,474.8 | −0.056% | $50.5M | $183.9M | 75x | as long as short |
| 01 Exchange ZECUSD | +0.0048% | 1h | 1,474.6 | −0.068% | $8K | $8K | 5x | as long as short |
| SoDEX ZEC-USD | +0.0065% | 1h | 1,474.5 | −0.079% | $227K | $4.5M | 10x | as long as short |
| Popdex ZECUSDT | +0.0096% | 1h | 1,474.7 | −0.060% | $176K | $1.9M | 50x | as long as short |
| Katana Perps ZEC-USD | +0.0097% | 8h | 1,475.3 | −0.024% | $12K | $828K | 10x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,474 | −0.107% | $61K | $39K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,474.6 | −0.069% | $2.6M | $6.8M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,476 | +0.026% | $766.1M | $473.5M | 10x | as long as short |
| Aster ZECUSDT | +0.0100% | 8h | 1,475 | −0.043% | $15.7M | $32.8M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,475.2 | −0.030% | $1.7M | $2.9M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,474.5 | −0.076% | $682.2M | $2.47B | 75x | as long as short |
| Arcus ZEC-USD | +0.0100% | 1h | 1,475.5 | −0.004% | $714K | $8.3M | 10x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,471.1 | −0.304% | $908K | $26K | 10x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,474.7 | −0.062% | $222.2M | $829.6M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,474.8 | −0.052% | $104.3M | $56.0M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,474.6 | −0.068% | $162.9M | $303.3M | 75x | as long as short |
| BingX ZEC-USDT | +0.0100% | 8h | 1,474.6 | −0.072% | — | $102.7M | — | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,474.3 | −0.089% | $513K | $9.3M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,475.5 | −0.006% | $3.0M | $466K | 10x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,475.4 | −0.017% | $110K | $4.8M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,474.6 | −0.068% | $348K | $1.9M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,474.4 | −0.082% | $128K | $159K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,473 | −0.176% | $449K | $503K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,477.1 | +0.100% | $3K | $1.2M | 20x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,473.2 | −0.164% | $2.5M | $23.2M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,474.8 | −0.052% | $3.9M | $5.3M | 50x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,475 | −0.043% | $3.3M | $6.9M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,474.5 | −0.077% | $37K | $366K | 20x | as long as short |
| RISEx ZEC/USDC | +0.0132% | 1h | 1,475.3 | −0.018% | $836K | $1.2M | 10x | as long as short |
| Lighter ZEC | +0.0144% | 1h | 1,476.2 | +0.043% | $19.1M | $52.1M | 20x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0432% | 1h | 1,476.8 | +0.082% | $3.8M | $11.0M | 50x | as long as short |
| Lighter RH ZEC | +0.0504% | 1h | 1,476.7 | +0.074% | $2.0M | $8.2M | 10x | as long as short |
| Backpack ZEC_USDC_PERP | +0.0592% | 1h | 1,476.1 | +0.031% | $2.4M | $3.7M | 15x | as long as short |
| Aftermath Perps ZECUSD | +0.0628% | 1h | 1,474.7 | −0.064% | $46K | $47K | 10x | as long as short |
Perpl ZEC
gTrade (Gains Network) ZEC/USD
Orderly PERP_ZEC_USDC
Deribit ZEC_USDC-PERPETUAL
GMX ZEC/USD [WBTC.b-USDC]
OKX ZEC-USDT-SWAP
Gate ZEC_USDT
01 Exchange ZECUSD
SoDEX ZEC-USD
Popdex ZECUSDT
Katana Perps ZEC-USD
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Hyperliquid ZEC
Aster ZECUSDT
Pacifica ZEC
Binance ZECUSDT
Arcus ZEC-USD
Bulk ZEC-USD
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDT
edgeX ZECUSDC
GRVT ZEC_USDT_Perp
StandX ZEC-USD
Polymarket Perps ZEC-USD
Bullet ZEC-USD
Derive ZEC-PERP
SunX ZEC-USDT
HTX ZEC-USDT
Phemex ZECUSDT
Extended ZEC-USD
Aevo ZEC-PERP
RISEx ZEC/USDC
Lighter ZEC
Coinbase International ZEC-PERP-INTX
Lighter RH ZEC
Backpack ZEC_USDC_PERP
Aftermath Perps ZECUSD