Funding you earn now, next payment 05:00 UTC−0.0086%/8h= −9.4% APRnext payment −$0.11 per $10,000 · paid last 24h −0.032%
Price spread now: gTrade (Gains Network) against Phoenix+0.420%7-day average −0.130% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$230as in the Price arb table
costs, in and out, $10k−$2852.845% of the position
Funding, last 3 days (all we have)−0.250%−$25 on $10k
+Price spread, last 7 days−0.550%−$55 · spread now +0.420%, 7d avg −0.130%
=The price spread pays, funding is against you. gTrade (Gains Network) is 0.550% dearer against Phoenix than usual: you sell high and buy low (spread +0.420% now, against its 7-day average of −0.130%): +$55 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 21 days. At the pace of the last 3 days (−0.250% in total) that is about 7.5 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix ZEC | 1,496 | 0.0092 | pay 0.0012% / 1h | 18m 44s | $4.8M | $1.3M | 10x |
| Short | gTrade (Gains Network) ZEC/USD | 1,502.3 | L +0.0007% / S −0.0006% | get 0.0001% / 1h | 18m 44s | $5.3M | — | 150x |
Phoenix ZEC
gTrade (Gains Network) ZEC/USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
gTrade (Gains Network) 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
- −$18.03
- Price spread: +0.420% → −0.130%
- $54.96
- Slippage, 4 orders
- −$267.51
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee gTrade (Gains Network): 5 bp × 2 orders
- −$10
- Net
- −$247.58
- Costs to cover
- 2.845%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 5 min ago; gTrade (Gains Network): virtual book (oracle venue), just now.
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 | 2.16 bp | 7.2 bp −$7 | 16.2 bp −$162 | 116.9 bp −$11.7K | doesn't fit |
| Sell gTrade (Gains Network) virtual book (oracle venue), just now | 130.03 bp | 135.0 bp −$135 | 584.7 bp −$5,847 | doesn't fit | 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 | −0.3243% | 1h | 1,478 | −1.205% | $34K | $273K | 12x | as long as short |
| BloFin ZEC-USDT | −0.0152% | 8h | 1,501.8 | +0.390% | $30.2M | $73.5M | 75x | as long as short |
| Hotstuff ZEC-PERP | −0.0080% | 1h | 1,510.3 | +0.955% | $6K | $1K | 10x | as long as short |
| dYdX ZEC-USD | 0.0000% | 1h | 1,506.8 | +0.723% | $419K | $36K | 5x | as long as short |
| Kalshi KXZECPERP | 0.0000% | 8h | 1,510 | +0.939% | $1.7M | $4.6M | 2.2x | as long as short |
| Perpl ZEC | 0.0000% | 43m | 1,502.5 | +0.439% | $86K | $239K | 10x | as long as short |
| Deribit ZEC_USDC-PERPETUAL | 0.0000% | 1h | 1,502.6 | +0.445% | $713K | $1.4M | 25x | as long as short |
| gTrade (Gains Network) ZEC/USDshort | L +0.0007% / S −0.0006% | 1h | 1,502.3 | +0.420% | $5.3M | — | 150x | |
| 01 Exchange ZECUSD | +0.0064% | 1h | 1,506 | +0.672% | $8K | $7K | 5x | as long as short |
| Orderly PERP_ZEC_USDC | +0.0065% | 8h | 1,502.3 | +0.420% | $303K | $898K | 20x | as long as short |
Injective ZEC/USDC PERP
BloFin ZEC-USDT
Hotstuff ZEC-PERP
dYdX ZEC-USD
Kalshi KXZECPERP
Perpl ZEC
Deribit ZEC_USDC-PERPETUAL
01 Exchange ZECUSD
Orderly PERP_ZEC_USDCShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix ZEClong | +0.0092% | 1h | 1,496 | long leg | $4.8M | $1.3M | 10x | |
| Popdex ZECUSDT | +0.0096% | 1h | 1,504.8 | +0.588% | $140K | $1.7M | 50x | as long as short |
| Bybit ZECUSDT | +0.0098% | 8h | 1,506.6 | +0.709% | $272.9M | $609.3M | 75x | as long as short |
| Paradex ZEC-USD-PERP | +0.0100% | 8h | 1,507.3 | +0.757% | $62K | $43K | 10x | as long as short |
| Nado ZEC-PERP | +0.0100% | 1h | 1,504.2 | +0.548% | $2.9M | $6.4M | 10x | as long as short |
| Hyperliquid ZEC | +0.0100% | 1h | 1,507.8 | +0.790% | $788.1M | $430.9M | 10x | as long as short |
| Aster ZECUSDT | +0.0100% | 8h | 1,506.4 | +0.694% | $14.8M | $28.9M | 75x | as long as short |
| Pacifica ZEC | +0.0100% | 1h | 1,507.3 | +0.760% | $1.7M | $2.4M | 10x | as long as short |
| Binance ZECUSDT | +0.0100% | 8h | 1,506.2 | +0.683% | $699.1M | $2.22B | 75x | as long as short |
| OKX ZEC-USDT-SWAP | +0.0100% | 8h | 1,506.7 | +0.719% | $181.3M | $1.28B | 50x | as long as short |
| Ondo Perps ZEC-USD.P | +0.0100% | 1h | 1,502.6 | +0.443% | $403K | $488K | 5x | as long as short |
| Bulk ZEC-USD | +0.0100% | 1h | 1,479.3 | −1.116% | $894K | $15K | 10x | as long as short |
| Gate ZEC_USDT | +0.0100% | 8h | 1,505.5 | +0.636% | $54.7M | $176.7M | 75x | as long as short |
| MEXC ZEC_USDT | +0.0100% | 8h | 1,506.1 | +0.679% | $228.2M | $772.1M | 150x | as long as short |
| KuCoin ZECUSDTM | +0.0100% | 8h | 1,505.4 | +0.630% | $105.9M | $54.1M | 75x | as long as short |
| Bitget ZECUSDT | +0.0100% | 8h | 1,506.8 | +0.726% | $169.4M | $273.6M | 75x | as long as short |
| BingX ZEC-USDC | +0.0100% | 8h | 1,506.4 | +0.699% | — | $6.7M | — | as long as short |
| Variational Omni ZEC | +0.0100% | 8h | 1,494.7 | −0.087% | $48.9M | $32.5M | — | as long as short |
| edgeX ZECUSDC | +0.0100% | 4h | 1,492.9 | −0.203% | $562K | $8.6M | 20x | as long as short |
| GRVT ZEC_USDT_Perp | +0.0100% | 8h | 1,481.5 | −0.970% | $3.0M | $462K | 10x | as long as short |
| ApeX Omni ZECUSDT | +0.0100% | 1h | 1,481.5 | −0.969% | $410K | $927K | 50x | as long as short |
| StandX ZEC-USD | +0.0100% | 1h | 1,506.5 | +0.701% | $53K | $4.6M | 30x | as long as short |
| Polymarket Perps ZEC-USD | +0.0100% | 1h | 1,504.2 | +0.549% | $371K | $1.7M | 10x | as long as short |
| Bullet ZEC-USD | +0.0100% | 1h | 1,502.7 | +0.452% | $165K | $184K | 20x | as long as short |
| Derive ZEC-PERP | +0.0100% | 1h | 1,501.3 | +0.353% | $458K | $506K | 6.7x | as long as short |
| SunX ZEC-USDT | +0.0100% | 8h | 1,504.4 | +0.561% | $3K | $1.2M | 20x | as long as short |
| SoDEX ZEC-USD | +0.0100% | 1h | 1,502.3 | +0.424% | $248K | $3.4M | 10x | as long as short |
| HTX ZEC-USDT | +0.0100% | 8h | 1,501.1 | +0.340% | $2.6M | $19.3M | 75x | as long as short |
| Phemex ZECUSDT | +0.0100% | 8h | 1,502.9 | +0.460% | $4.0M | $4.9M | 50x | as long as short |
| Katana Perps ZEC-USD | +0.0100% | 8h | 1,505.8 | +0.657% | $13K | $847K | 10x | as long as short |
| GMX ZEC/USD [WBTC.b-USDC] | L +0.0102% / S −0.0073% | 1h | 1,502.4 | +0.431% | $402K | — | 100x | as long as short |
| Extended ZEC-USD | +0.0104% | 1h | 1,505.4 | +0.628% | $2.8M | $8.0M | 10x | as long as short |
| Aevo ZEC-PERP | +0.0104% | 1h | 1,502.3 | +0.423% | $46K | $153K | 20x | as long as short |
| Lighter RH ZEC | +0.0120% | 1h | 1,508 | +0.801% | $2.2M | $7.2M | 10x | as long as short |
| Kraken Futures PF_ZECUSD | +0.0143% | 1h | 1,502.2 | +0.413% | $18.3M | $45.9M | 25x | as long as short |
| RISEx ZEC/USDC | +0.0154% | 1h | 1,505.4 | +0.629% | $947K | $1.1M | 10x | as long as short |
| Lighter ZEC | +0.0200% | 1h | 1,508.1 | +0.809% | $19.8M | $44.7M | 20x | as long as short |
| Backpack ZEC_USDC_PERP | +0.0451% | 1h | 1,504.5 | +0.569% | $2.4M | $3.7M | 15x | as long as short |
| Coinbase International ZEC-PERP-INTX | +0.0496% | 1h | 1,504.8 | +0.588% | $3.7M | $9.8M | 50x | as long as short |
| Arcus ZEC-USD | +0.0508% | 1h | 1,505.6 | +0.645% | $622K | $8.3M | 10x | as long as short |
| Aftermath Perps ZECUSD | +0.0687% | 1h | 1,487.9 | −0.543% | $50K | $60K | 10x | as long as short |
Popdex ZECUSDT
Bybit ZECUSDT
Paradex ZEC-USD-PERP
Nado ZEC-PERP
Hyperliquid ZEC
Aster ZECUSDT
Pacifica ZEC
Binance ZECUSDT
OKX ZEC-USDT-SWAP
Ondo Perps ZEC-USD.P
Bulk ZEC-USD
Gate ZEC_USDT
MEXC ZEC_USDT
KuCoin ZECUSDTM
Bitget ZECUSDT
BingX ZEC-USDC
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
Katana Perps ZEC-USD
GMX ZEC/USD [WBTC.b-USDC]
Extended ZEC-USD
Aevo ZEC-PERP
Lighter RH ZEC
Kraken Futures PF_ZECUSD
RISEx ZEC/USDC
Lighter ZEC
Backpack ZEC_USDC_PERP
Coinbase International ZEC-PERP-INTX
Arcus ZEC-USD
Aftermath Perps ZECUSD